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Viewing 8 posts - 1 through 8 (of 8 total)
  • Profile photo of danwattodanwatto
    Participant
    @danwatto
    Join Date: 2007
    Post Count: 9
    December 17, 2015 - 7:50 pm

    I’m up for it. Have a few comm investors could bring.

    Live in eastern suburbs but mostly near city for work.

    Profile photo of danwattodanwatto
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    @danwatto
    Join Date: 2007
    Post Count: 9
    December 17, 2015 - 7:49 pm

    Thanks Andrew I pretty much agree from resi experience I would have trouble sleeping using only 1 bank.

    Barlo Commercial – that wouldn’t be the same Barlo group from The Castle would it :)

    Profile photo of danwattodanwatto
    Participant
    @danwatto
    Join Date: 2007
    Post Count: 9
    December 15, 2015 - 2:28 pm

    Hi Corey

    For the aggregator relationship, I mean I was able to get past APRA on Resi due to some lenders on this aggregator panel that had not been affected by APRA. For Comm, yes no APRA, definitely one of the advantages of Comm.

    Is your brokerage your own business / partnership?

    With your Commercial IP deals your brokerage does – do you have many lenders that allow 80% commercial loans?
    I understand that under $1m dollars, for Retail Shops and Strata offices (and any other types?) that a few lenders are fine with 80% LVR.

    Do you have these options? What are the allowed property types for these?

    Thanks

    Profile photo of danwattodanwatto
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    @danwatto
    Join Date: 2007
    Post Count: 9
    December 10, 2015 - 7:44 pm

    Thanks Corey.

    For a broker like yourself heavily involved in Resi, how do you select which commercial lenders to do accreditation with?

    Normally with resi I know the aggregator just sends you to their list for training. But with comm is it also dependent on the aggregator? Or is it direct business relationship with each comm lender?

    I’m asking as I found previously the aggregator relationship was critical in getting past APRA boundaries,and also general curiosity.

    Also as example your own business, how many commercial lenders would you be accredited with and/or written deals for?

    Thanks

    Profile photo of danwattodanwatto
    Participant
    @danwatto
    Join Date: 2007
    Post Count: 9
    November 14, 2015 - 9:46 pm

    Thanks mate

    So the advantage is only servicability.

    But sounds like you still get a CRA hit as guarantor that you must declare for future personal credit apps?

    Profile photo of danwattodanwatto
    Participant
    @danwatto
    Join Date: 2007
    Post Count: 9
    November 14, 2015 - 11:01 am

    Hi Corey

    Do the lease docs require a personal guarantee from the director?
    Or from the owner if in personal name?

    Thanks

    Profile photo of danwattodanwatto
    Participant
    @danwatto
    Join Date: 2007
    Post Count: 9
    October 16, 2014 - 5:27 am

    True

    Some CAs are auditors etc and not tax agents.

    Profile photo of danwattodanwatto
    Participant
    @danwatto
    Join Date: 2007
    Post Count: 9
    October 15, 2014 - 3:19 pm

    Did your banker and mortgage broker show you their membership in the institute of chartered accountants? Are they licensed tax advisers?
    My girlfriend told a banker she wanted to open a line of credit with her equity to buy an investment property. The next day the banker called her and said congratulations I opened a personal loan for you, with 12% interest!

    Some bankers have no idea even about their own job, don’t trust them with tax advice please :)

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