Hi, this is interesting as we are about to go through same process. It is becoming more common that people are finishing their houses outside of the building contract. Our Builder sales consultant even told us that we should do the Drive and a few other things ourselves as the builders price would be excessive (obviously sub contract work out +…[Read more]

Thanks guys.  PS, information I provided was limited so I can see your assumption.  But it is not a 95% lend.  Richard,Is there official information readily available stating that there is no longer a requirement for consent that you could point me in the direction of?ThanksJason

Thanks Richard.I am in QLD, so that sounds good.  I will follow up with my solicitor.  Is that information detailed somewhere?  Just in case they are not aware of it and I can reference it?Banks – numbers were tight.  Any extra coming out of first property was attracting high LMI fees.

Qlds007 wrote:
Hi JasonIt all depends on the State and the…[Read more]

Hi Richard,Is it possible to buy a house/property jointly with SMSF (personally + SMSF) with a loan/mortgage?  In theory this is using the SMSF funds as cash for deposit.  Rental returns would be paid according to ownership % – where SMSF % would equal deposit as % of total purchase price.ThanksJason

Qlds007 wrote:
Hi RobinQuick answerIs this p…[Read more]

Thanks guys,Will banks touch any 2nd mortgate option, eg 10%

We can never know the exact reason why people sit on prices which we think are higher than the current market.  But could be the vendor needs close to the asking price to pay out finance.From a vendor perspective, there is a reason why they use offers over xxxxx as they want over this amount.  The real estate person adds to the mix by using t…[Read more]

Qlds007 wrote:
I personally would be recommending an interest only loan with a 100% offset account.Look to maximise your borrowing, take the mortgage insurance on the chin (as it wlll be propertionally Tax deductible when the property becomes a rental property) and look for a flexible loan product that can grow with you.

Hi Richard,When can you…[Read more]

I wonder if I could claim the flights and accomodation on tax as a property investor attending a conference??  Would not mind a holiday in Vegas.  Pity it starts today.

Qlds007 wrote:
Regretfully Yes you are dreaming.Why dont you use some of the equity in the 2 properties.  100K would go a long way to providing a deposit or two.

Thanks Richard.Currently I haveSGB – Loan $415k, value $470NAB – Loan $515k value $600Would a bank look at this equity?ThanksJason

Terryw wrote:
Hidon't  think you will find anyone. with no security, it is extremely risky for the lender – what if you refused to repay?maybe you could look at vendor finance – where the seller can lend u the deposit.

Thanks Terry, this is definately an idea.  Just need to find the right seller who has the cash/equity in the property plus a r…[Read more]

I agree with Richard.SGB are very hard to deal with, especially if you want a 90%+ loan.  When we bought 2nd property, SGB said it would be no problems, and had pre-approval.  Then after signing contract they rejected me.  I am told it was their Mortgage insurer.  I ended up with a NAB loan, very few questions asked and papers with 5 days.

Hi,we have a 100% loan with SGB on our first property (bought 4+ years ago).  I think the variable is .5 high than standard.  Best if you give them a call to confirm.

I believe in QLD it is the duty of the Real Estate to inform you of any issues with the property if he is aware.At the end of the day, it is not important why the seller is selling, as the real estate agent could of told you anything.  You need to do your own due diligence.  Get inspections, speak to neighboors etc.

Terryw wrote:
HiYou can't rent your own property, but you could rent one owned by a company or a trust that you control or a husband could rent off the wife and vice versa – or another relative. Many many things to consider though.

Hi Terry,This sounds very interesting.  Where can I find more information on this?  Eg. if I own a property 100% i…[Read more]

Hi,I was searching threads, some great infor here, thanks.Question.Currently there are some great buys on the Market (looking at Gold Coast).  As an investor, is it wise to expand portfolio by using Wraps/Vendor finance to build portfolio?  I am currently in position where primary income (self employed/contract IT Project Manager) cash flow has i…[Read more]

Kylie,Well done on your achievements.  If you decide you would like to extend to pass your hand at mentoring, I would love to catch up for a coffee to hear about your strategies.Jason0402 896772

Well done blogs.  Take the money while you can.  I am sure you know this.  The market is volatile at the moment.  Having that sort of dollars wrapped up in one stock is dangerous and I am sure a lot of people have lost in the past 3 months.  There are some bargains to be had on the market at the moment.Continue with the good work.  Feel free to sh…[Read more]

Thanks for the feedback

Hi,we just moved into our house.  After several ideas, i have converted the lounge room into a theatre room.  As the stairs are in the middle of the house, i have used the back wall of stairs as a projection screen.  $40 tin of white paint (recommended for Cinema use)   I then cut holes in bottom of wall to recess speakers under the stairs.  I wil…[Read more]

Thanks Terry and Hans.A question.  If I put the $110k into my own PPOR creating equity, and then redraw it and loan to Company/Trust to buy property then that $110k against the PPOR would be tax deductable against my tax?  Or am I a bit tired and not making sense?Appreciate your comments