Hi Cama 20,

It depends what you want to research. As Michael suggested, Residex provided some good reports. You can get information on housing prices and trends by suburb, as well as some demographic and economic trends that you might find relevant to the property market at the ABS website, http://www.abs.gov.au.

You can also get some good information…[Read more]

Richard,

That’s amazing! I haven’t seen any bank over there that would offer a buy to let mortgage for an expat higher than 85%. Of course if you were re-locating back to Scotland and were a British citizen, and were moving into the property it would be different.

Kind Regards,

Cameron Perry
Finance Consultant
F.R. Perry & Associates
Level 13,…[Read more]

Hi Landt,

Yes you would need to go through a UK bank. No Australian bank will lend against overseas property. You could get a 75% lend through a couple of major banks, and possibly 80% through some smaller lenders.

Kind Regards,

Cameron Perry
Finance Consultant
F.R. Perry & Associates
Level 13, 30 Collins St
Melbourne VIC 3000
Ph (03) 9662…[Read more]

Hi Landt64,

It is certainly possible to obtain a loan in Scotland for a foreign national. If you hold a UK passport, it would be a little easier.

Kind Regards,

Cameron Perry
Finance Consultant
F.R. Perry & Associates
Level 13, 30 Collins St
Melbourne VIC 3000
Ph (03) 9662 1999
Fax (03) 9662 2044

Hi McCoz,

Whether or not the subdivision would go through easily depends on a number of factors, such as any overlays affecting the site, zoning, easements, size of the property and the character of the area. If you require any preliminary planning advice, my firm provides town planning services as well as finance, and I would be happy to be of…[Read more]

Hi Jenny,

In answer to your first question, yes, construction loans by their nature are generally paid in stages, typically around 5 installments, but can go up to 7. I will leave the second question to those with more developing experience.

Kind Regards,

Cameron Perry
Finance Consultant
F.R. Perry & Associates
Level 13, 30 Collins St
Melbourne…[Read more]

Hi Microbubble,

Lenders in Australia are far more attuned to lending on investment property than UK lenders and you can get up to 100% of the purchase price through a major lender (106% of the purchase price for a non-major lender), and the rental is counted in your serviceability. However, as a foreign national the maximum you could get would be…[Read more]

Hi Serkan,

In finance I wouldn’t ever say anthing is impossible, but this is about as close to it as it gets.

Regards,

Cameron Perry
Finance Consultant
F.R. Perry & Associates
Level 13, 30 Collins St
Melbourne VIC 3000
Ph (03) 9662 1999
Fax (03) 9662 2044

Hi Janus,

Sorry to be the bearer of bad news, but to my knowledge you can forget it. I’ve been researching international finance since the start of the year, and the advice I have received suggests that Japanese banks are extremely reluctant to lend to Japanese people, let alone foreigners. No Australian bank will lend against foreign property…[Read more]

Hi Nats,

Each council’s planning scheme will have a Municipal Strategic Statement which sets out areas allocated for high density. If your block is in a high density area it is more likely that you will be able to sub-divide and put units on the block. I’m not sure about other states as planning systems are unique in each state, but in Victoria,…[Read more]

Cashpoor,

Try Footscray. It is in a good location, close to the city and borders trendy suburbs in Yarraville and Kensington. Prices are still relatively cheap due to its reputation as a centre for heroin peddling and high crime rate. However, heroin peddling and crime has not stopped St. Kilda and Collingwood from becoming expensive suburbs.…[Read more]

Robert,

I don’t think you did answer the question. To further elaborate, it is only investors from “broad tax countries” ie) Australia, Canada, UK, maybe 1 or 2 others, who are able to be taxed in their own country and all of these countries have higher income tax rates than the US so most investors would pay their tax in the US. In any case even…[Read more]

Robert,

How can encouraging international investment have negative effects on the US economy?

Regards,

Cameron Perry
Accredited Mortgage Consultant
F.R. Perry & Associates
Level 13, 30 Collins St
Melbourne VIC 3000
Ph (03) 9662 1999
Fax (03) 9662 2044

Robert,

To answer your questions:

1. Yes
2. You can either get taxed in the US or Australia on your returns, but it makes sense to be taxed generally in the US due to their lower rates.
3. None if you pay US tax.

I suggest you contact Active Financial http://www.activefa.com if you want to find out more about the tax ramifications of investing in the…[Read more]

Be VERY VERY careful in dealing with people advertising US properties in AUD. My brother discovered one such spruiker advertising properties for around $A48,000 and found the exact same property advertised on a US real estate site for $US13,000, or around $A17,000. The yields sound good on the surface but you would be buying at close to 300% above…[Read more]

I’d be very careful. I know of one person advertising properties in the United States who is actually marking up the properties by around 300%.

As Redwing suggests, you should contact Westan if you are interested in the US.

Regards,

Cameron Perry
Accredited Mortgage Consultant
F.R. Perry & Associates
Ph (03) 9662 1999
Fax (03) 9662 2044

Minimum loan amount $50,000

Monthly Admin Fees $10

No application fee for loans above $100,000

Cheers,

Cameron Perry
Accredite Mortgage Consultant
F.R. Perry & Associates
Ph (03) 9662 1999

Companion Credit Union has the cheapest line of credit I know of at 6.7%.

Cheers,

Cameron Perry
Accredite Mortgage Consultant
F.R. Perry & Associates
Ph (03) 9662 1999

Hi Redwing,

Having had a little experience dealing with American brokers I can say there is no way you can compare the US market with the Australian market. The vast majority of Australian brokers do not charge the client anything extra and rely solely on the commission paid by the banks which is not the case in the States. However, I do think…[Read more]

I object to Knowitalls second post being deleted. I think it should have been left up as entertainment value. [biggrin]