Thanks Diamond,

I understand the point you make, however, when a bank looks at their assets etc when it come time to cash out, the bank does not take into account the fact that there is an installment contract on the property. The mortgage and title are in the names of the trust/company, so in fact in the eyes of the lender, they don’t have any…[Read more]

Hi Lioness,

Another advantage with a LOC, is the fact you are able to split your account in to sub-accounts which will help keep in clean when tax time comes around. This way you can montor cash investment and interest paid on each loan.

Some of the banks will allow you to have up to ten sub accounts for no extra fees ( excluding your yearly…[Read more]

Hello 6 x 1,

For rental occupancy try the local council where you are looking to buy, some help some don’t all you can do is ask.

As for a book, try your library.

The king has left the building…..

Hi Tamara,

I understand the frustration you may have in getting finance while you are overseas as banks like to see you pay taxes in Australia for two years before they lend.

You mention that the banks will only loan you 80%. Be careful with this information as this LVR is mostly only available in built up postcodes, if the property you wish to…[Read more]

Hi Gordi,

Building a portfolio is not going to happen straight away. It takes time to create your plans, goals, knowledge and to put your systems in place before you should can start “looking”.

My advice is to set your goal, what you want to achieve from your business etc etc.

While you are doing this, take a good hard look at your personal…[Read more]

Hello Mixrex,

I’m sorry, I obviously made it confusing.

I was looking at it from a ‘wrappee” point of view when it came to the time of cashing the property out.

Seeing their name is not on the mortgage or contract, they have NO record of savings and when it comes to cashing out the property, they may need the ‘wrappor’ to ‘gift’ them the equity…[Read more]

Hi Semesteve,

Speaking from experience, don’t give up your day job, until you have hit the ground running with your new venture. Any new business takes it time getting started and before you know it, cash reserves are low and things get a little harder.

Looking at it from a lenders point of view, when you apply for a loan they look at ‘the…[Read more]

Hi Minnitry this website for info on what you’re after.

http://www.financialsuccesssystems.com

cheers

Magic!! thanks for your input guys.

Andrew,
have spoken to my contacts at macquarie up here re finance, they don’t like it. am having further discussions this week, will keep you posted.

cheers

Thanks Steve,

This is what I am doing now that I have “retired”.

Have searched and found some great information. You provide a great service for those who are looking to get out of the “E” quadrant.

thank you very much