Forum Replies Created
No hate to say most don’t.
Spend a lot of time trying to correct structures where a previous banker or broker has set up the loans incorrectly for a client however as i say i usually recommend we carry out a loan review of a clients set up every 3 years or so.
Ideal time to see what else is out there and get it done properly.
Cheers
Richard
Richard Taylor | Australia's leading private lender
Ok concept is right but now would be the time to restructure the IP loan and take the debt to 80% / 90% lvr of the market valuation.
Then look to set up an equity loan on your PPOR so you can repeat the process.
LVR will depend on your future goals, ability / desire to carry on purchasing IP’s and 101 other factors.
Cheers
Richard
Richard Taylor | Australia's leading private lender
Hi again hrjmck
Not sure how you have 2 separate loans on the current investment property unless one of the lenders is the same lender as you used on your PPOR and if so this means the current IP is only geared to circa 65%.
Without actual numbers, IP Lvr’s, rates etc it is hard to say.
Never hurts to have a regular 3 yearly loan review to make sure you can move forward when you need to.
Cheers
Richard
Richard Taylor | Australia's leading private lender
Hi hrjmck
Welcome to the forum and hope you enjoy your time with us.
Certainly isn’t a stupid question and in fact it has to be the most common question i get from forum investors.
I have seen so many investors chase the cheapest interest rate or cross collateralise their loans on the recommendations of their broker / banker only to find their investing days are over very quickly.
Normally recommend a client look to have each loan as a standalone loan and use a lender based on a combination of feature requirements v cost, servicing, interest rates etc etc.
Not all lenders are the same and no point in paying for features you will never need.
Cheers
Richard
Richard Taylor | Australia's leading private lender
For which State ?
Cheers
Richard
Richard Taylor | Australia's leading private lender
Hi there
Not sure if TerryW is taking on new clients but if so he is based in Sydney.
Other than that if you need a face to face chat with a Broker regretfully can’t recommend anyone per say.
Cheers
Richard
Richard Taylor | Australia's leading private lender
John
Read one of the opening posts in this thread. https://www.propertyinvesting.com/topic/4410191-list-of-property-spruikers/
Cheers
Richard
Richard Taylor | Australia's leading private lender
Jamie from Pass go Finance is Canberra based and will serve you well.
Long standing forum member and i am sure will respond to your post with his details shortly.
Cheers
Richard
Richard Taylor | Australia's leading private lender
Hi Andy
Welcome to the forum and i hope it is not too hold in the East.
Personally I prefer Melbourne over Sydney merely because i believe you get better value of money.
As an Expat have you looked at your Finance options as finance for Non Residents has certainly changed over the last 3-6 months.
In regards to a reliable Buyers Agent for Victoria you can’t go past Jacqui (JacM) from the forum.
Shoot me an email if you need her details.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Shawn
As discussed in email we expect to open up our Non Resident product to the market in the next 6 weeks.
At the moment it is limited to select developers in Sydney / Brisbane so will drop you a line when we are taking external applications.
We hope to open the Beijing office at the end of the year.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Stuart
I have a few more than 7 properties and have used the same Accountancy firm for last 20 years.
Try Steve Hodgkinson at Gold Business Group in Southport.
They are specialists in property investment and Steve is a great bloke to boot.
Long standing forum member but doesn’t get much chance to post these days.
Tell him I referred you as otherwise you might not get past the receptionist.
Most decent mid size Accounting firms are not taking on new clients but he will always do so if the referral has come from us.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Lisa there are always ways to access deposits without cross collateralising the securities.
You merely do a standalone equity release and use these funds as deposit.
If the loan was mortgage insured the way you did it may have been a lot more expensive.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Sure Maxim that is fine.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Sure Maxim that is fine.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Bjoern
Try finding a Real Estate agent who will take a Credit card payment to his Trust Account.
Isn’t going to happen.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Maxim
Be surprised how many clients we have thru the forum who have gone to their own Bank and have their loan structure all wrong.
Just need to be smart with the loan set up to maximum your deductions and help your portfolio grow.
Cheers
Richard
Richard Taylor | Australia's leading private lender
Certainly takes years to build up relationships with agents etc but when you find the right vein it is very exciting.
You also have to adopt your strategies accordingly.
What worked last year may not work this year.
In saying that there are a lot of deals out there at the moment so some excellent returns can be had.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
This is an Australian Forum so you might be better off fishing closer to home.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi darkness
As soon as the property is available for rent you can claim any allowable deductions.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Yes must admit many of our forum BA clients want just this.
We tell them it is a way of generating cash flow rather than sitting and waiting for the CG upside.
Of course there are a number of pitfalls along the way and you definitely need good advice.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
