Hi rishi78I think Tony, in NSW, charges about $450.  Not sure about Lewis.Cheers,  Paul 

Hi rishi78In Victoria we use Lewis O'brien at:Lewis O’Brien & Associates Suite 113 89 High Street Kew   Victoria   3101phone: 03 9888 6388 fax: 03 9888 6366 email: info@lewisobrien.com.auCheers,  Paul

Hi DaleIn Qld Stamp Duty is only payable on the Option Price. Of course, once you exercise the Option and settle the purchase, then Stamp Duty on the full purchase (strike) price is payable.As always, please check with your solicitor.Cheers,  Paul

Hi FlyingrallyAs you mention, the capital growth is not going to be much if anything.  You're therefore left with your positive cash flow.Why not buy it and on sell it with vendor finance (VF)?  On-selling with VF has the potential to:1.  get you a deposit of approximately $10,0002.  create positive cash flow of about $270 per month and3.  given…[Read more]

Hi MrsCI'm not sure what State you're in but Tony Cordato of Cordato Partners Lawyers has a Joint Venture Agreement that covers all the points Terry mentioned above.  His phone number is 02 8297 5600.Cheers,  Paul

Hi IronladyAll you are doing here is Leasing the property.  Would you normally ask the bank for permission to  rent it?  Probably not.Then, just between you and the new tenant, you give them an Option to buy the place for a fixed price within a certain number of years.  This gives them the option, but not the obligation, to buy at this price at…[Read more]

Hi IronladyTerry is correct in what he says.  It's also interesting to note that your mortgage documents probably also preclude you from renting your property, without getting your lender's authority.  And guess how many other Aussie's are breaching their mortgage documents by doing certain renovations to the property without lender au…[Read more]

Hi Just saw Carley give away $120,000 to needy causes on the first episode of the Australian version of The Secret Millionaire.  Very uplifting  Cheers,  Paul

Hi speedlawSometimes it's possible to turn what is currently a "dog" into a income generating asset.  By a "dog" I mean a property with little to no capital gain and seriously negatively geared.For situations like this we use our "negative2positive" process, i.e. we sell it for a premium price with Vendor (Seller) Financing.  If I had this p…[Read more]

Hi JeffThe follow bit, from the Information Sheet, covers this situation:"Nothing in the new National Credit Act requires you to hold an ACL to provide credit for the sale of your own property(s).  However all sections of such a transaction must be structured in accordance with the requirements of the new NCC.  This includes the pre sale checks y…[Read more]

Hi JeffIf you haven't done any vendor finance transactions yet and therefore don't really know if vendor finance is for you, I wouldn't race off and apply for my ACL at this point.There are a number of ways you can do a few vendor finance transactions without having to have your own ACL (see above).  My suggestion would be to investigate the ways…[Read more]

Hi ducksterUnfortunately ASIC's Regulatory Guides on the Australian Credit Licence (ASL) do not confirm your mention of a requirement for 5 years experience .  There is no fixed experience level, if you are applying for an ACL and already hold a Cert IV in Financial Services (usually a 3 or 4 day course).  Each application will be looked at ind…[Read more]

Hi dreamlandprojectsMay I suggest you have a look at my most recent post at:https://www.propertyinvesting.com/forums/property-investing/creative-investing/4333293to overcome your misconception that you'd have to apply for an Australian Credit Licence.Also, and this is only my opinion and you should check it with your accountant, it's interesting…[Read more]

Hi dreamlandprojectsDepreciation and negative gearing benefits cannot be claimed by the holder of a Lease and an Option.  However there is another way.  Have a look into another vendor finance selling process called an Instalment Contract (IC).  An IC is regarded as a real sale and all State Governments (except SA) pay the FHOG for eligible fir…[Read more]

Hi AllIn an earlier post above I mentioned our Information Sheet.  I'll add it below as it may help.  It does mention a course to be run by VFI at the end of it.  Hopefully it's not excessive advertising                    Vendor Financiers and the Australian Credit LicenceRegistration for the Australian Credit Licence  Registration for the…[Read more]

Hi RyanWe used to use it quite a lot in our vendor finance business, under the name Deposit Finance.  However since the GFC, as Richard says, the answer is no.  I'd love to be proved wrong Cheers,  Paul

Hi JeffMay I suggest you have a look at:http://www.vendorfinanceinstitute.com.auI declare an interest, in that we own Vendor Finance Institute Pty Ltd (VFI).  If you go to the VFI site, you can request an information sheet on your options at this point, including our new course aimed at coaching vendor financiers through the ACL application…[Read more]

Hi brierleygFeel free to give me a call.  We have been been running a VF business since 2003 and I'd be interested to hear what you have in mind.Cheers,  Paul  

Hi chasIf caveat or 2nd mortgage finance isn't available, you may rectify the situation by selling the IP with vendor finance (VF).  A VF sale should generate positive cash flow at three points, i.e:1.  The upfront deposit the new VF buyers pays.  Our experience shows this can range anywhere from $15K to $60K and can include the FHOG2.   It sh…[Read more]

Hi KarlmYes it should be tax deductible.  However, as Terry mentions, it would be a good idea to ask St George to set up a split (sub) account to hold the debt for your new IP.  It will will save you a lot in accountancy fees, i.e. it will separate the debt for both IP's into separate accounts.Cheers,  Paul