That’s some real money for a fine!

You have to use the lenders ordered valuations – you cannot use an independently ordered val and have the lender accept it. The exception to this is commercial valuations/loans.

Exactly – I’ve seen a surge of business coming from borrowers who previously went to branch for all their lending but are being told NO MORE. It’s getting harder and harder for someone to blindly stumble their way to success with the screws being tightened so much.

Generally avoid properties with pools. Limits your potential tenants, extra maintenance etc.

Great when they kick the bucket and have to be replaced too. ;)

Ah – this is a South Australian purchase?

Depending on the agent, some will have a Form1 available from day 1, others will only order them once the property is under contract.

Note either side can pull out until form 1 has been signed by both parties and then the two day cooling off commences.

If you wait for form 1 you WONT meet the 18/12…[Read more]

Sit down with an independent financial planner about this situation – you don’t want to mess this up as depending on the path you take, you can end up with VERY different results. Being 55 super may be a prudent place to put the funds, A planner + accountant will be able to help you work out where the funds can be placed most effectively for your…[Read more]

Of course – as a responsible lender you should be declaring all debts you are liable for in any case!

The whole benefit of this line of product is to extend your borrowing capacity, where you might have $0 capacity in resi terms, but effectively $unlimited in this space.

Hi Dan,

They all have a generally guarantee if in a trust/corporate structure. Usual borrower terms if in own name (who would put it in their personal name anyway?)

Switch your existing investment property to interest only – you gain no benefit from having it structured on P&I. You can then just store the extra funds in the offset account.

Otherwise you’re potentially putting tax paid cash into investment debt, which is a bad habit if you’re ever to buy a PPOR, as you’ll want to have the PPOR deposit as…[Read more]

Extended settlement on the vacant block is the simplest – which is generally the type which is less likely to scare off the vendor/real estate agent if they’re involved.

Most brokers run everything via phone and email – I’d say less than 1 in 100 client’s will bring in physical documentation these days for their loans, likewise the loan contracts are sent straight to the clients door with a reply paid envelope.

A quick look at our CRM, almost 75% of clients are outside of South Australia (where our office is…[Read more]

Time to start using an investment focussed broker, instead of a product shill for a bank. Why limit yourself to accessing half a dozen products and one lenders policies, when you can leverage off the policy and products of dozens of lenders and thousands of products.

That way you can pull your LVR up to 80%+ and expand on your terms, not one…[Read more]

Welcome to the forums Barlow.

My best piece of advice early on is to establish a goal! The best way for you to start investing is to know what your end goal is, and then this should highlight the options available for you to achieve it. Whilst doing this it’s a great idea to form relationships with the right professionals – accountant, broker,…[Read more]

Build a goal! The best way for you to start investing is to know what your end goal is, and then this should highlight the options available for you to achieve it. Whilst doing this it’s a great idea to form relationships with the right professionals – accountant, broker, buyers agent if necessary etc.

I’ve written an article on working out your…[Read more]

What type of property is this? You shouldn’t be restricted to such a low LVR – it may be related to your serviceability instead and the banker isn’t clearly explaining this.

It’s still possible to draw out equity from a freehold property upwards to 90% LVR with many lenders.

Running multiple projects simultaneously is a great way to go bankrupt – which is why the lenders won’t be too keen to lend.

The % change of failure causing multiple developments to collapse like a house of cards is a risk which you should be considering.

Generally if you’re wanting to complete multi developments simultaneously, you’ll need to…[Read more]

Third will likely have the highest yield + capital gain potential from a renovation. Fairly easy if you tie this into a reno-reval strategy.