yeah I’m the same I was stupid enough at the age of 18 to get a $15,000 loan for a car. was good at the time but looking back it was the worst thing I could’ve done.

Got rid of it about 2 years late and it had gone down by about a 1/3 and didn’t even cover the loan cost.[glum]

Good work for saving $8,000 originally, thats an effort in…[Read more]

As far as I’m aware JohannP, there isn’t away to exscape transfer cost however best Idea would be to contact a local conveyancer or property solicitor and they will give you the advice you’ll need to make a descision.

Joshua

Investor Finance
joshflack@investorfinance.com.au

I believe westpac have just released 85% LVR with no LMI a few weeks ago…

somthing to look into.

Investor Finance
joshflack@investorfinance.com.au

hey draconisv

a car may come in handy to get into property in a couple of ways, some more obvious then others…..
1. sell it – down size, use the difference on property.
2. lease against it – I know one lender that will allow you to use a car, equipment, machinery or other ‘assets’ and lease against them, to make up a certain amount of the…[Read more]

in relation to the favourable purchase question….

some lenders will lend 100% of the purchase price + fees/charges if buyer under market value.
For example…

had a friend who was living in a brother in laws property and had done bit of work on the house over the 2 years they’d lived there so they negotiated to purchase the property at…[Read more]

I didn’t know about the 6 years thing with out CGT. thats a handy piece of information.

Joshua

Investor Finance
joshflack@investorfinance.com.au

Giulio,

First of all good luck with the new store, hope it all goes well!!

I’m not goin to try and offer any assistance with design etc because it would just suck…lol

but from a business point of view, I used to be Store Manager of a maccas store and all I can suggest is make sure that you have the systems in place for the business to be able…[Read more]

when it comes to the finance side of things.

LVRs that lenders allow on student accomodation are usually low meaning you have to more capital to put into the deal and considering this being your first deal, might not be the best solution for you.

Investor Finance
joshflack@investorfinance.com.au

hey elim,

thats a pretty in depth question and would take forever to answer in detail but simple steps would be …

1.) Find a property
2.) Do research of local area
3.) once research area make an offer (with certain conditions)
4.) offer is then accepted or declined
4.) If accepted, contract of sale will be issued and signed
5.) If accepted…[Read more]

Did you keep the deposit?

Investor Finance
joshflack@investorfinance.com.au

yeah I had an offer turn downed this afternoon, it was verbal and was told if I would like to make a new offer that closing time was later that day.

I decided not to continue.

It was in adelaide where theres many opportunities out there.

Investor Finance
joshflack@investorfinance.com.au

thanks Gerry,

Interesting article.

Joshua

Investor Finance
joshflack@investorfinance.com.au

Yeah I agree with Derek,

He may’ve also meant the person you may be looking to sue may have there assets wound up tightly in Co/Trust structures that the are adequetly protected from litigation. In otherwords if someone were to go spend thousands on legal fees and possibly cause financial hardship is it even financially viable to sue the other…[Read more]

yesterday I actually did the opposite.

I offered higher then the asking price because my offer included a vendor finance arrangement in there as well.
The property had massive potential to add value to it so I wanted to hold onto my capital to do renos etc. and do a no money down deal and extract the equity out later.

I offered higher so that…[Read more]

Good Questions Dan,

Equity is only ‘equity’ until you draw down on it or borrow against it.
In your example if your property did go up $50K and you wanted to use that, you could take cash out option which would instantly change the principal value of the initial loan or borrow against it with a LOC (line of credit) which you can draw down on as…[Read more]

definately agree with DLPP.
option 2 sounds like the way to go

Joshua

Investor Finance
joshflack@investorfinance.com.au

Marco,

Sounds like a fantastic goal.

Look forward to tracking your progress.

Good luck mate

Joshua

Investor Finance
joshflack@investorfinance.com.au

Good work DraconisV for wanting to get in the market so young.

All the replies so far are great, I hope you don’t mind me adding in a little info also.

As bravesparrow was saying there are things the banks require and they are sumed up in the accronym SLICE

Security – Obviously a property

Location – All but 1 bank/lender have postcode…[Read more]

interesting point …
thanks for the info I’ll take that on board you’ve obviously had more experience with this topic, and you have put some great info in there.

I’m going on what I’ve been told and will look into it.
Thanks foundation.

Multiple Property Strategist
Investor Finance
joshflack@investorfinance.com.au

Thanks foundation I agree with you..

you do need to sort the real facts from the BS.

With properties doubling every 7-10 years , It is fact and if you look back over the last 200 years in australia it is a continuing trend that keeps repeating. Research yourself and you’ll find out its true.

Obviously in some areas it booms while other ares are…[Read more]