Thanks for the recommendation Richard.

Regards
Alistair

Hi HH,

I would like to think that I tick all of those boxes. However, I have an ethical problem with paying referal fees, if you are recommending someone it should not be because you are being paid for it. Having said that I always try to look after the people I deal with and I am very active in the property industry on a number of levels so, depending on what it is you do, there may be some direct benefits in dealing with me. You can reach me by pm or email through this site if you would like to have a chat.

Regards
Alistair

There are a lot of different comercial lenders and most have specific niches that they are suitable for, if your project has good margins and presales is all your concerned about then there are lenders that can assist you. Having said this, i would suggest that having some presales for an apartment development is not a bad idea, it lowers your risk obviously, but it is also good for marketing to have have some of the apartments taken prior to it being finished.

Regards
Alistair

Hi Chris,

Send me a PM of email. If you are sure you want to become a broker I can assist you getting accredited. The difficulty and cost of becoming accredited is overstated, the real issue for most brokers is generating work. I warn you though, very few independent brokers are in the least bit successful, the industry is flooded and it is very difficult to compete for regular home loans with branded businesses and direct lenders. Having said this, if you are capable of generating leads, it can also be very lucrative.

My advice is to get yourself accredited, don't bother to work for anyone else, just live or die (figeratively of course) by your own knowledge and ability. You will know pretty quickly if you can make a go of this industry.

Regards
Alistair

I've optioned property before, it's very easy. You approch a land owner and offer them money for an option to purchase their land at some future time for a set price, you then rely on growth or more likely take steps towards rezoning or obtaining a DA to develop/subdivide, which (hopefully) lifts the value above the option strike price. You always need a lawyer to draw up the option contract, so you don't need to know how to write a contract. The trick is finding an owner who will agree, but there are plent who will.

That will be $4K thanks.

Regards
Alistair

You can definately get 90% on 3 units. Get yourself a good broker.

Regards
Alistair

Hi All,

How loans within different structures are treated is heavily dependent on the type of loans and the section of the bank you are using. If you are just buying low yielding residential properties then it is clear that each of the loans should be treated, for servicing purposes, the same as if they are all in your personal name as there is a relience on your personal income to service them. The same cannot be said in cases where companies/trusts are used to hold commercial properties or developments, which are usually self funding. Debt in such situations can often be ignored by lenders, for servicing purposes, as it does not impact on income outside. As Steve was investing in high cashflow properties and vendor finance deals, I would think that his activities would have been viewed, by his bank, as being commercial in nature and would have been treated as such.

Regards
Alistair

Hi Blacknblue,

Without knowing the nature and value of the commercial properties and developments it is difficult to give difinitive advice. However, generally you should keep each commercial property and development within a seperate legal entity. If you have residential property crossed in, then you should only use this as a temporary solution. This will assist you with servicing using the same lender and will also give you maximum flexibility in terms of usiong altenative lenders where appropriate. I'm happy to go into more detail, but its a fairly complex topic, so please feel free to post questions and i'll do my best to answer them.

Regards
Alistair

Hi Julian,

I can put you in contact with a developer in Curra if you are interested. His development is just about to have titles released so your timing is pretty good. He is also a long time member of this forum if this means anything.

Regards
Alistair

Hi Carlin,

No lender is going to give you their servicing calculator, so how do you propose working out which lender/combination of lenders will be best for you?

"but as you say, Richard, it's hard to find one that's investor orientated, doesn't have a problem with Trusts (not that we have a Trust – explored that one and didn't seem worth the cost/effort), with a service level that's acceptable and with specials that last beyond today.

I would think that Richard has proven through hundreds of posts that he ticks all of these boxes, why don't you give him a call. You are simply not going to get what you want without using someone such as him.

Regards
Alistair