ASB replied to the topic Dual Limited Recourse Loans. in the forum Help Needed! 9 years, 1 month ago
Can you take out a Limited Recourse Mortgage on a existing property in the superfund that is fully or almost fully owned to get the deposit for the next, ie using the equity to move forward ie one property is valued at $185,000 and I want to purchase a second of the same value so I use 30% equity in one via a LRL to make a deposit on the second…[Read more]
ASB started the topic Dual Limited Recourse Loans. in the forum Help Needed! 9 years, 1 month ago
OK looking at the next property and had a brilliant idea but can I do it.
My current LRL was set up borrowing from my redraw, worked perfectly, I now want to buy the next property as I am almost finished paying of the second one. So can I set up the redraw LRC to pay the 30% deposit on a property and borrow the 70% from a bank. Doing this I can…[Read more]
ASB replied to the topic Is it ok to buy in rural areas in the forum General Property 13 years ago
The regional cities rather than towns make more sence, I just bought two properties in Wagga and they rent at a higher rate than in the towns near by due to higher demand. Many country towns have a high number of properties on the market and this tends to push down rental returns. Its like anything get to know your market. Wagga for example ha…[Read more]
ASB replied to the topic My steal of the week. $20,000 cairns unit which vendor paid $113,000 for rent $160pw. in the forum Help Needed! 13 years, 1 month ago
Holiday Accom is a very difficult market, there are some great opportunities, I owned three of them however you need to look at booking fee of about 20%, change over and cleaning fee and you Body Corp fee and in many cases a management charge.In a recent no reserve Auction for a developer at a well known ski resort, there were many so called…[Read more]
ASB replied to the topic Stamp duty question in the forum General Property 13 years, 1 month ago
Thanks, in that case yes, in this case no to seperate unrelated owners and two different selling agents.
ASB replied to the topic SMSF Purchasing from a Member in the forum Legal & Accounting 13 years, 11 months ago
Hey Scott wanna nice FC Apartment going cheap
ASB replied to the topic SMSF Purchasing from a Member in the forum Thanks Scott and Evolve, the 13 years, 11 months ago
Thanks Scott and Evolve, the apartment does have a management agreement where one company has the rights to take booking and provide cleaning and change over. All bookings and payments need to go through this company. We could stay there if we wanted but on leaving the management company charges us a change over. We can not allow friends to st…[Read more]