I like that advice Audrey, about ringing surrounding suburbs.

Whether P&I or IO should depend on your whole strategy.

IO means more cash in your pocket for servicing other loans, still alows you to pay extra if you want, and nowadays comes with redraw.

Regards
John

Inspired Finance
(02) 9944…[Read more]

IO is just about increasing cashflow.

Whether you hold it or sell it depends on your own investment strategy.

But it is increasing hard to find reasonable cash flow properties – if you sell it, then someone else gets the ongoing benefits. And the yield with a 20K population is good.

Regards
John

Inspired Finance
(02) 9944…[Read more]

Originally posted by Mortgage Hunter:

Are you a Financial Planner John?

Simon Macks
Residential and Commercial Finance Broker
simon@mortgagehunter.com.au
0425 228 985

LOL, no Simon I am not, as clearly stated.

I have held dealing licence’s for many years, and helped many investors structure their finance to continue buying. The question is…[Read more]

Most of what you have asked is basic Taxation information, so any accountant will do and overall it will be inexpensive.

If you want an accountant that has more knowledge of trusts, then it can start to be expensive. Send me a quick email and I will send you some details of a few.

Regards
John

Inspired Finance
(02) 9944…[Read more]

Trish

There are too many variables, but at that price I would say it is small regional.

The numbers stack up, but without knowing the area, etc it is hard for anyone to say yay or nay.

For example – Is there mining close by, or is the town dying due to drought. More due diligence is required.

The other thing here – never trust the agent…[Read more]

Exactly what Michael said.

When you do decide to look for an accountant, don’t just go to anybody – get some references to ones that really understand trusts, as the differences in what they know and don’t know can be huge.

I can point you to some in Syd, Melbourne, and QLD if you want – email me for their details when you need…[Read more]

There are a few financial planners around that do property.

Although – there is no actual protection for investors under ASIC, who seek property advice. So you could be speaking to someone that is only offering you their own properties, and there is no comeback. This is why some of the property spruikers, who offer their own developments are…[Read more]

Originally posted by Opportunity In Everything:
Isn’t it the settlement date of the purchase the date that counts here?

A simplistic way to look at this might be to say the event starts from the time rent is payable to you under the terms of the contract, this maybe before settlement but more likely not though. Possession seems to be the…[Read more]

I will differ per state. You will have to check what the details are.

Be careful if the lease only has 20 years or less left. finance companies will avoid or won’t lend against such properties. In fact if it has less than 30 year I would be careful.

Regards
John

Inspired Finance
(02) 9944…[Read more]

– Can I form a company and purchase investment properties through that company?

Short answer is yes. Long answer is, you probably don’t want to. There are so many aspects to this, and much has to do with what the future holds for you. Something you can only partially predict.

You could look at purchasing in a trust, more specifically a hybrid…[Read more]

A building inspection should pick up most problems.

Add a clause to the contract allowing a qualified electrician to make an inspection for wiring. If it is that old then no doubt he will say it should be anyway.

Then based on the reports get quotes. You may want to think about renegotiating if it is a lot. Anyway – at least you will have some…[Read more]

As Simon said

Consider all costs, including agent fees, and your goals.

AND
Its not about what it is worth now, its about is it worth keeping into the future – do your due diligence on the area. Do you think that it is worth keeping an investment property on the gold coast?

IF not then sell

Regards
John

Inspired Finance
(02) 9944…[Read more]

This 50K in equity – is it available?

for example a 500k loan with a mortage of 450k has 50k in equity, but really it is not availble for anything. Even if you cross collateralised it with a bank, then they may be willing to give up 5% of that equity. Others may give you more but you will pay for it.

Many people that come to me say “look I got…[Read more]

I should mention – myself and some other investors are doing something in the USA which is working out very well, as we have avoided all of the shonksters. We have started showing other Australians already, and it is starting to grow.

Our ultimate plan is show investors world wide, but also look for opportunities in other countries. If you have a…[Read more]

I am from Singapore and I would like to know how I can be investing in real estate in your country (any country would be fine) as long as there will be positive cashflow at the end of the day.

Hope your leg heals quickly.

Positive cashflow is more difficult to find in Australia at the moment, and takes a lot of work, normally to find you are…[Read more]

Originally posted by freeman cooper:

It is also on the market if you are interested.

LOL

Regards
John

Inspired Finance
(02) 9944 7776

john@inspiredfinance.com.au
http://www.inspiredfinance.com.au

Draw up a trust with family members being trustees plus beneficiaries

The 3 gift the money to the trust. ($20K each)

The trust makes an interest free(or whatever) loan to your mother.

Your mother pays out her existing mortage.

The trust can have a mortgage over the house – is not expensive overall.

As the 3 children are trustees and…[Read more]

My wife and I have $60K that we wish to invest in a 2 bedroom flat under 15 years old. We require another 40 odd to buy the property and as we have never done this before we are as nervous as hell about making the plunge.

Are there any tips people can provide if we decide to buy the investment?

as per Terry’s advice, think about keeping some…[Read more]

We own our own place (no mortgage [strum] yay)

tonight we saw a house and put in an offer on it (we had pre approval loan)

No need for a bridging loan.
Just use the loan you already have approval for.
When you sell you existing home, then pay back the other.

I would suggest you get a loan from a bank that does not have break costs. talk to…[Read more]

Originally posted by Mortgage Hunter:
The single piece of advice I can give you is to leave your wallet at home and not make any decisions on the night regardless of the hype and promises they might offer.
This goes for any seminar.

so true – great advice.

Originally posted by lsn:
Just be aware there are different regulations for broking in WA…[Read more]