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Alistair Perry
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@aperry
Join Date: 2004
Post Count: 891
April 25, 2007 - 10:46 pm
Hi Phil,
You can finance 6 as a residential lend at 80% LVR, Richard is correct in that you can't mortgage insure though so there is no way to go higher than this without using a commercial lender.
Regards
Alistair
Alistair Perry
Participant
@aperry
Join Date: 2004
Post Count: 891
April 19, 2007 - 5:47 am
Hi Ram,
I live in Bayside, I'd be happy to recommend various professionals who I use. I don't have any builders I could recommend, but pretty much anyone else I would have covered. I own a finance brokerage and town planning consultancy by the way.
Regards
Alistair
Alistair Perry
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@aperry
Join Date: 2004
Post Count: 891
April 19, 2007 - 1:13 am
I know a lot of extremely wealthy property investors, and not one of them uses a debt reduction company or small lenders offering thread bare, discounted products. Very few go outside the various bank offerings, and if they do only because of specific reasons, very rarely related to interest rates. Read into that what you like.
Regards
Alistair
Alistair Perry
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@aperry
Join Date: 2004
Post Count: 891
April 12, 2007 - 10:53 pm
Hi Mark,
Is your business in the same industry as your former employment. If so, and you have some evidence of the income you have stated ie BAS statements and bank statements it may be possible to still do a loan as a full doc.
Regards
Alistair
Alistair Perry
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@aperry
Join Date: 2004
Post Count: 891
April 12, 2007 - 6:44 am
If there has been talk on Foxtel that rates will go up, then that would have to be a definite wouldn't it? You might like to do a bit of homework too, the Government doesn't control interest rates, the Reserve Bank does. You should know, as a mortgage broker, that there is more to take into account than movements in interest rates when deciding whether or not to fix.
Alistair Perry
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@aperry
Join Date: 2004
Post Count: 891
April 11, 2007 - 4:30 am
"I will be able to assist you with your query on 0413 594 675."
"Or I can fix u 3 years on a low 7.4% fixed rate no doc. For a free consultation call : 0413 594 675."
Mate, are you going to offer anything in addition to advertising.
Alistair Perry
Participant
@aperry
Join Date: 2004
Post Count: 891
April 5, 2007 - 3:21 am
Hi Mark,
If you want to distribute -ve gearing benefits a Hybrid Trust is the best way to go, from what I understand. If you have a good accountant take his/her advice, if not then get one.
Regards
Alistair
Alistair Perry
Participant
@aperry
Join Date: 2004
Post Count: 891
March 22, 2007 - 6:09 am
The other day I heard about a “bill” or a “30 day bill” – which I haven’t been able to get any further info on just googling.
Most commercial loans are benchmarked off bank bills, they don’t have any relevence to residntial loans.
Regards
Alistair
Alistair Perry
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@aperry
Join Date: 2004
Post Count: 891
March 22, 2007 - 3:23 am
Hi Gavin,
That’s great, if he’s good you have done very well. We usually charge around $4.5K for the planning and most architects/draftspeople will charge considerably more than this for the drawings.
Regards
Alistair
Alistair Perry
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@aperry
Join Date: 2004
Post Count: 891
March 22, 2007 - 1:43 am
Hi Gavin,
That’s very cheap. In fact I would be questioning the quality of service you are going to get if this is for design and taking the application through planning.
A word of advice, design is not an area you want to skimp on, as it directly impacts the time it will take tom get a permit, the chance of you receiving a permit at all and the value of the end product.
Regards
Alistair
Alistair Perry
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@aperry
Join Date: 2004
Post Count: 891
March 21, 2007 - 5:54 am
how many townhouses / duplexes could i fit?
This is very much dependent on the particular block and the skill of your designer. The range of factors affecting what you can build is huge.
Sorry i can’t be more specific than this.
Regards
Alistair
Alistair Perry
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@aperry
Join Date: 2004
Post Count: 891
March 11, 2007 - 7:14 am
Hi Alto,
I have a bit of a preference for Westpac amongst the majors, but there are many situations where they are not the best choice.
Regards
Alistair
Alistair Perry
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@aperry
Join Date: 2004
Post Count: 891
March 10, 2007 - 4:32 am
Hi Nick,
I’ll second everything Richard stated, and add that their products are a pain in the proverbial. Their offset account “MISA” is not transactional i.e. you have to operate a seperate “Stremline account” as well for your day to day banking. There is also substantial channel conflict between Colonial and the CBA branch network, this means that you will have trouble getting any assistance through a branch with anything.
If you like the big banks Westpac and ANZ have far better products.
Regards
Alistair
Alistair Perry
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@aperry
Join Date: 2004
Post Count: 891
March 8, 2007 - 11:48 pm
Hi Katz,
When you are looking at price, be aware that commercial property is usuaully priced on a per sq m basis. Any commercial agent will be able to give you figures for your area, just make sure you don’t pay too much on a per sq m basis.
Also be aware that there are very large differences in interest rates etc between different lenders. Make sure you are getting a good deal.
Commercial property is a great area, good luck with it.
Regards
Alistair
Alistair Perry
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@aperry
Join Date: 2004
Post Count: 891
March 7, 2007 - 11:43 pm
Hi Terry,
Town planning takes a minimum of 3 months, more likely 6 months if it doesn’t end up in VCAT. If you have to go to VCAT you’re looking at more like 9-12 months. As long as you have a good designer and town planner 12 months would be a reasonable time frame to budget for.
Regards
Alistair
Alistair Perry
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@aperry
Join Date: 2004
Post Count: 891
March 4, 2007 - 1:10 am
My mortgage broker is saying that a trust (i will be using a HBT) cant get a loc doc loan. Is this correct?
No it’s not true. There are fewer choices when using a HDT, but there are still plenty of lenders who are fine with this structure.
Regards
Alistair
Alistair Perry
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@aperry
Join Date: 2004
Post Count: 891
February 27, 2007 - 5:12 am
We dont use them much as the service levels are not the greatest once it gets to HQ here in Brisbane.
I agree completely with Richard. The rate you have negotiated is very good, but I think you will find it comes with a poisoned chalice.
Regards
Alistair
Alistair Perry
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@aperry
Join Date: 2004
Post Count: 891
February 25, 2007 - 4:38 am
Hi spapas06,
I am also based in Melbourne CBD. I can’t give financial advice, but I have been involved in the property game for a long time and I’m always happy to chat about the subject. I’m also always looking for an excuse to get out of the office.
Regards
Alistair
Alistair Perry
Participant
@aperry
Join Date: 2004
Post Count: 891
February 23, 2007 - 12:37 am
There is a formula in Excel that will do this for you, type “PMT” into the help function of the program and it will explain how to use it.
Alistair Perry
Participant
@aperry
Join Date: 2004
Post Count: 891
February 21, 2007 - 11:45 pm
Hi Charlie,
It is common that developers of sizable projects are not in a position to service their end debt, so lack of income is not really an issue in obtaining a loan. As long as there are good margins in your project and you put some money in (as a rule of thumb 20% of costs) you should have no problem getting a loan with the interest capitalised.
Regards
Alistair