Total Members: 154,009

Jon

  • Thanks for clarifying re: paying directly from loan. I can only assume you are assuming this is done through the + balance in redraw.

    And thanks for clarifying the rest – my thoughts exactly!

  • Sorry, could you elobrate please.

    You mention that money from an offset account would not be tax deductible, of course – but if you have a $100k loan with $100k in offset and you withdrew $20k to pay (as an example) a contribution toward your development, would the interest then not be tax deductible on the loan?

    I’m trying to understand why…[Read more]

  • Thanks guys.

    So providing the home (owner occ) is paid down to $0, the client uses this property as security and applies for a LOC for investment purposes then (in the example I gave), the total portion is tax deductible BUT if the home loan has not been paid down then it would be advisable to have two splits – standard loan for remaining…[Read more]

  • Hi all,

    What are the advantages/disadvantages of using a LOC which is secured against an O/OCC property to put a deposit on a development site + drawing on the LOC as funds to contribute to the construction? I.e., deposit for land + build from LOC and remaining funds to complete from the loan which is secured by the development site (no…[Read more]

  • Hi all,

    What are the advantages/disadvantages of using a LOC against an O/OCC property to put a deposit on a development site + drawing on the LOC as funds to contribute to the construction? I.e., deposit for land + build from LOC and remaining funds to complete from the loan which is secured by the development site (no…[Read more]

  • Jon replied to the topic Finance for Development in the forum Finance 5 years, 10 months ago

    Thanks Corey,

    I understand and we will look into this.

  • Jon replied to the topic Finance for Development in the forum Finance 5 years, 10 months ago

    A myriad of reasons Richard. As I’m sure you are aware, being in the insutry for quite a while:
    a) many people do not understand the process involved
    b) HNW individuals focus on their own occupation and have no experience in developing
    c) provides a second income stream
    d) cashed up but time poor
    the list goes on…
    We are currently looking after…[Read more]

  • Jon‘s profile was updated 5 years, 10 months ago

  • Hi all,

    Here is the scenario.

    – Successful partnership in property development – Melbourne metro. (tick)
    – 6 projects completed + 2 under construction all returning profit. (tick)
    – Close network of people for future projects, i.e., architect, builder, lender. (tick)

    Currently, we are looking for individuals who are financially sound to fund…[Read more]

Jon

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