Hi,

Given how active you have been the short answer is happily yes, you have lots of options. As a broker I would present you as a ‘self-employed’ investor who used to have a second job and by providing two years of tax returns and investing in the types of properties where cashflow covers repayments we should be able to get you a low i% full…[Read more]

Hi,

Assuming the value of your house has gone up more in the last few years than it will in the next few years, pay to have a valuation done just prior to moving out then you will be able to claim the portion of gain prior to moving as CGT-free should you decide to sell down the track.

Yep the rent is income but as kkowalsk says it’s able to be…[Read more]

Hi Damian,

PPOR = principal place of residence. Also known as O/O = owner occupied.

You sound like you have options, just not a huge amount of time. I am a broker in Brisbane and may be able to help either personally or by pointing you to someone else in your region and I think getting more info from you offline may be best.

There are lots of…[Read more]

I’ve read about that Tulip mania – weird stuff, maddening crowds at their best, at least houses have more than a 6 day lifespan, I hope!

Steve’s seminar in Brisbane on Sunday was fab as expected, inspiring stuff when it’s not shrouded in the gloss and rah-rah NII-style, just facts and strategies. One of the things he recommended was to read…[Read more]

Grandma Huey you appear to have a nice predicament in that really you have a lot of good options.

Why not go half and half between shares and property. For the property side of your investments personally I’d seek out some one-on-one mentoring from an active and experienced advisor like our very own BillFromOz for help in finding properties that…[Read more]

Hi,

My folks hail from a 4000 people mining town in the NT which has been going for about 32 years and where up to two years ago you could buy a small house for $100K and rent for $220 per week with literally a waiting list of renters. People cottoned onto the benefits of owning these houses about two years ago and while the rent’s gone up to…[Read more]

Hi,

At this stage our brokering firm is still of the opinion that the ATO may make new rulings which could retrospectively disallow this type of claim resulting in v large tax bills for investors, so we are not recommending it to clients.

That said if clients understand the risk they are undertaking and still wish to proceed then of course we’ll…[Read more]

Hi BlackJack,

Given you seem to have some equity available there are several ways to get you into a better position financially, and I’d be more than happy to help. []

It is very important to keep your credit rating intact and not to default on any bills or payments. Short-term reducing the interest rates you are paying on your debts can…[Read more]

Howdy,

As a broker I always try to make sure that people have had proper tax advice as well as hearing the loan options for this type of scenario. I personally believe trust funds are the way to go for both maximising returns and asset protection long term.

From a lending perspective borrowing in individual names can help couples to acquire a…[Read more]

Great tips still_in_school! (the legal ones []!)

There are some lenders who in this type of situation will only require a ‘kerbside’ valuation and a broker should be able to look these up for you BUT remember these guys spend their lives driving around and if they’ve noticed any renovation activity at your house over the last few months OR you…[Read more]

Hi,

Richard is about as experienced as they get! Another great option that about 90% of the experienced ‘wealth coaches’ at a Peter Flannagan seminar I went to used was JV’s, linking cash-poor with time-poor people, particularly in short term projects like renovations or constructions.

Good luck!

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Mel
melanie@homeloanconnexion.com.au

Hi Kerreni,

From the finance side most brokers will be able to help you with a 100% lend as there are a few products available now with lenders like St George, although their criteria is fairly strict and it’s not the cheapest loan around – ie other options may work out to be more cost effective for you. []

I’d be happy to help and I’m based in…[Read more]

I’ll be there – can’t wait![]

Have been forum-absent for about 3 weeks tripping around the country and being v busy, but as Freddie says ….I’m baaaaaaccckkk!

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Mel
melanie@homeloanconnexion.com.au

Hi,

I’ve also seen parents set up formal loans with their newly working adult children who just lack a deposit where they have a contract with the child. The child is the borrower and just needs to show enough income (or not in low doc situation) to service both the bank loan and the parents loan to pass. Quite a few lenders will lend to 90% in…[Read more]

Hi Pousti,

Good start!! I think reading a bit about the pros and cons of different options (much of which is discussed here on the forum) and getting a team of accountants, brokers etc together for advice is probably a good direction to head because having an investing strategy that fits your circumstances will be much more effective than trying…[Read more]

My nicknames were ‘sMellie or Bogues – don’t ask – so I think Melbear is probably the pick of the bunch! []

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Mel (1)
melanie@homeloanconnexion.com.au

Hi Diane,

From the info you’ve given, I’d buy it in a heartbeat too, and as Mel says do the cleanup myself to get the extra ‘value’. Sounds like a good find, well done! []

Most lenders won’t reassess a new purchase’s value within 6 months unless there is a major renovation done, but some lenders will – this may help you draw out the equity gain…[Read more]

Hi Mitzu,

Home Loan Connexion have a very experienced broker team in Sydney who I can highly recommend. They have been around and there’s not much they can’t help people with.

Try Mike Mabey via email on mike@homeloanconnexion.com.au or phone 0412 484 288.

Good luck and keep pressing on, I think seeing a broker is definitely the right approach…[Read more]

Hi,

Yes I have found even inner city valuations a bit on the conservative side at the moment. The valuers do have to be careful as the Lender Mortgage Insurers can actually sue them if a borrower defaults and the property cannot be sold for the valuation price within 3 months (not 30 days) which naturally makes valuers cautious especially if…[Read more]

Hi,

Yes I have found even inner city valuations a bit on the conservative side at the moment. The valuers do have to be careful as the Lender Mortgage Insurers can actually sue them if a borrower defaults and the property cannot be sold for the valuation price within 3 months (not 30 days) which naturally makes valuers cautious especially if…[Read more]