Contact Corey Batt of XL Financials http://www.xlfinancial.com.au/
You’re in good hands with Corey. Give him a call, he’ll be happy to help.

Hey tukchen,

I personally have not used or have not even researched anything about any of these groups. From memory though, Bhatla has a really bad reputation and was talked about before. I have not heard anything anymore since then from this group.

Are you looking at OTP properties? Or newly established properties? Make sure you do your due…[Read more]

Wiwin – if im not mistaken, what you have said is what I also believe is right. whoever is on the title, whether it be an individual, a jv, a company or trust, should be the same on the mortgage.
I think what Terry is pertaining to are mortgage applications for a married couple. Whereas the husband or the wife can be on the title alone, and he…[Read more]

Hi Walk,

I apologise for the rather generalised response.
Increasing income streams could be one or a combination of these things, I just don’t know if you can consider this creative though:

*Focus on cashflow positive properties, lenders take rental income into consideration when determining your borrowing power.
*Connected to point 1, avoid…[Read more]

regarding borrowing power, this varies from different lenders as each lender assess your borrowing capacity base on their lending policies which again, could be unique to each lender. they need to verify that you can service a loan so this is directly connected to incomes. unfortunately, I can’t answer your question in specific detail without…[Read more]

@simondema – are you looking at new houses?

@wiwin – if its an internal refinance, most lenders don’t charge any fee. There really is not much benefit holding on to x-coll loans for a long period. he’s actually in a dangerous position now, if all goes south all of a sudden, he could potentially lose one if now all of the crossed properties.

Hey Sam,

Give Richard Taylor or JacM a call.. They specialized in the QLD area if Im not mistaken. Search them up here.
Or knightm from precium.com.au for NSW.

Richard Taylor
JacM
knightm

Cheers!

Hey Walkingtorun,

First, welcome to the forums!! Im sure you will learn a lot from here. :D

Regarding your situation, it is best to talk to your mortgage broker first regarding the borrowing capacity. They can tell you exactly how much you can afford, and how to structure your loans correctly that will suit your goals. This should be your first…[Read more]

Having said that. It will still come down to how good your money handling habits are. In some cases, it is actually better for an individual to pay P&I than having it IO + Offset due to bad money habits. As soon as they see money in the bank, they spend it on wants not needs.

Hey Knox,

*What the pros/cons are of interest only and offset accounts are
If for an investment loan:
– con = you will only be paying the interest portion of the loan and after the loan term, you still owe the bank the same amount.
– pros = you will only be paying the interest portion of the loan and effectively maximizing your tax deductible…[Read more]

@wiwin tell your friend to be very careful and review his financial situation. its more likely that his loans are crossed at 105% lend. please advise your friend to uncross his properties.

@simondema
Campbelltown and most especially the surrounding suburb is going through gentrification. new developments are still ongoing in the area. for that…[Read more]

Sorry Benny. I meant to ask about this. Is the landlord keen to sell with these conditions? e.g. Vendor finance/rent to own, do wraps or lease options etc. I mean its not a bad i guess to try and negotiate with the landlord with these options if he really wants that property.

Hi Benny,

Without knowing the numbers, like his income for servicing purposes, he still have hope. Give Richard Taylor’s details to him as I know Richard do 100% finance option. Its just a matter of knowing if Peter can service it or not.

Is the landlord keen on selling the property though? People without deposit can be assisted using 100%…[Read more]

This group has been mentioned and discussed here before. Do a search and you will see. In case you can’t find it, here’s a start.

https://www.propertyinvesting.com/topic/4995222-new-investors-yale-property-solutions/

“Caveat Emptor”

Cheers!

This would be my answer too regarding the Median VS Average question. Thanks Benny for the quick follow up!

I agree with Benny. The numbers doesn’t add up properly. If you give us more details, we can surely show you how its calculated.

Regarding a 1 bedder unit for 320k? Don’t you think its a bit overpriced? Your target market is very limited with 1 bedder.
What’s your due diligence telling you about this property? Have you confirmed the rent at $320k a week?

Brm,

You are in very good hands with Jamie.

Cheers!

In a nutshell, its basically setting it up as having the following:

Loan 1 for Property A (Property A as security to Loan 1)

Loan 2 for Property B (Property B as security to Loan 2)

Linking an offset account to the non tax deductible debt is a must. Regarding the costings for these, it depends on a few things so best to give us more details…[Read more]

Hey brmiau,

Cross Collaterising is basically giving more of your asset to the bank as security than what they deserve. You are giving them control over all the assets that is X-coll with them. If you want I can forward you an article written by my fellow mortgage broker about x-coll. It will tell you what you need to know regarding this method.…[Read more]

Hey Bobby,

You’ve got the basic set up down really well.
Do you plan to buy more properties after this purchase?
Or are you just buying this PPOR now and then 8 years later get another as PPOR and convert this to IP so in 8 years time you are only looking at two properties is this correct? What is your goal? Why do you want to invest in…[Read more]