Forum Replies Created
Lewis there is no such thing.
You will need to get a few builders to give you quote and gauge them accordingly or ask your Architect whether he has any recommendations.
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Richard Taylor | Australia's leading private lender
All they have done is follow the line other lenders went down previously.
Nothing really new in that.
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Richard Taylor | Australia's leading private lender
Ok Hemi not sure where you sent it but not received our end.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Hemi
As long as you can show evidence of funds to complete away from the Vendor Finance i don’t think you would have an issue.
Our new Company No Deposit Housing Pty Ltd provides 100% finance to First Home Buyers by way of a secured second mortgage and we do this with the consent of 6 major lenders who have approved the scheme.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Yes hullo if you subscribe too Veda.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Hank
At the moment we only lend in Qld where we broker the deal.
In the first week alone we received 36 applications so matter of growing slowly in order to keep up with demand.
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Richard Taylor | Australia's leading private lender
Hi Jason
Why doesn’t he sell 2nd hand property ?
Also why does he need to offer a rental guarantee unless the purchase price has been loaded to incorporate such a guarantee.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Sorry i have to disagree it certainly can be done but you might need a 3rd party ACL holder.
We have spent 2 years working on a new Company called No Deposit Housing Pty Ltd which now provides deposit finance throughout Qld to owner occupiers. We have 7 major lenders signed up for the scheme and have started doing our first few deals.
We charge a higher interest rate than the prime lender but nowhere near a personal loan rate.
Demand in SE Qld has been incredible and we look to launch Nationally within the year.
You are so right gags a couple of enquiries we had this week were from borrowers who had a deposit but wanted to avoid the expensive LMI.
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Yours in Finance
Richard Taylor | Australia's leading private lender
You could look to get a Bank Valuation on the property and then look to sell it on No Deposit to an owner occupier / investor.
We have just listed a number of properties in Portside, Hamilton on a similar basis.
Might not get all of your funds back immediately but over a period of time charging a rate of interest on the balance.
Especially if the sale price is higher than it would be thru a standard real estate agent.
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Yours in Finance
Richard Taylor | Australia's leading private lender
JT we do a lot of loans in regional Australia.
If you want to email me some suburbs or post codes be happy to look for you and tell you what is your likely lvr.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Michael welcome to the forum.
You can certainly do better than a Suncorp investment loan so would shop around again if that is what he has recommended.
PPOR with 1 lender on a split loan and then new lender for investment loan.
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Richard Taylor | Australia's leading private lender
R2D2 Lending terms vary considerably.
We work closely with a couple of Chinese Migration Firms based in Hong Kong who are always seeking finance for their clients both Non Residents and those seeking PR in Australia.
Still get 80% on purchase price / valuation.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Leigh
Be surprised how many BA Forum clients we have wanting to do the same thing.
Done properly I think it is a good strategy you just need to make sure the post construction valuation is equivalent to at least the initial purchase price + cost of granny flat and that the builder is not making a healthy mark up on your project.
Try avoid those areas that have been granny flatted to death but as far as a cash flow strategy is concerned it works well.
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Richard Taylor | Australia's leading private lender
Hi Cjones
If it is an inner city unit run for the hills as we are starting to see an over supply in this area with falling rents.
Free standing freehold houses is different certainly lots of activity in this market.
Very good demand for quality homes where you can add value and if the number of forum member enquiries we are receiving is an indication of activity we should have another cracking year in Brisbane.
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Richard Taylor | Australia's leading private lender
Not really as I imagine the HC makes payment directly to the landlord or PM.
Just make sure the HC doesn’t provide a subsidy to the Tenant and then it is upto them to make payment directly to you as you might never see it.
I have a number of my Vendor Finance deals with Tenants who are receipt of rental assistance / some of Commonwealth Benefit and they are excellent to deal with as they send you a statement each fortnight, call to let you know they are going to be late doing a payment run (i.e Christmas Day etc) and any issues I ring them direct.
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Yours in Finance
Richard Taylor | Australia's leading private lender
A simple phone call to the Building Dept of the relevant Council will tell you the name of the Builder who lodged the plans.
Even if you have to nip down and do a manual search wouldn’t take long.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Jon
Being a smaller development you might find someone interested.
I assume the land etc will be in the investors sole name so not sure why anyone with the cash would not do it themselves.
We would get an enquiry a week from developers asking me whether we would be interested in privately funding their deals but most of them the returns are not sufficient so it is easier to do the developments ourselves.
What sort of ROR would an investor be expected to receive ?
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Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Feng
Sure we use Depreciator for our clients QS’s reports.
Their contact details are 1300 66 00 33.
Ask for Marcel and tell him you were referred by Taylored Financial Solutions and they will look after you.
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Yours in Finance
Richard Taylor | Australia's leading private lender
We have dozens of ex-pat forum clients who we have purchased property for located all over the globe.
In most cases we hold a Power of Attorney for them allowing me to sign the Purchase Contract as a Licensed Agent although in many States by appointing a Buyers Agent they have the power to do so.
Unless you are going to the moon the practicalities of not being in Australia can easily be overcome.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Pete
There are a number of lenders that will pay out a Tax debt even if it means a short term business loan.
Being employed 6 months is also not an issue.
To assess the equity you will have to pay out the Tax debt and the business overdraft if it is secured.
Would need a little more information to advise you further.
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Yours in Finance
Richard Taylor | Australia's leading private lender
