Forum Replies Created
Barlow it is like any investment.
If the fundamentals are right then it doesn’t matter when you get in you will do well in the long term.
In saying this i remember when my parents purchased their property in the UK in 1966.
They paid 4400 pounds for it and their Bank manager told then it was at the peak of the market and they would lose money.My mother still owns the property and it is probably worth $1.4M pounds.
Not bad rate of return over 50 years.Certainly here in SE Qld there is no sign of the market slowing and a gradual increase in prices is expected over the next 5 years.
Cheers
Yours in Finance
0-40 Properties in a decade. Ask me how.Richard Taylor | Australia's leading private lender
It is interesting point Xenia makes and the same comes into play with Sales Commission.
In Qld the amount an agent can charge for a sale has been recently been deregulated and for anything under say 350K you will find most agents are not charging 3% + wheareas until recently maximum was 2.5% plus $900.
We regularly get asked by Vendors will we list their property for 1% and the answer is simple …….NO.
It comes down to the professionalism of the agency.
Certainly we could act for a lesser fee but it would ruin our Professional name in the area we cover.
By charging a given amount we can regulate the number of properties we list and provide a better quality service for the vendor who we represent.
Cheers
Yours in Finance
0-40 Properties in a decade. Ask me how.Richard Taylor | Australia's leading private lender
Sounds like a fairly standard construction loan and most other lenders should be able to accomadate.
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Yours in Finance
0-40 Properties in a decade. Ask me how.Richard Taylor | Australia's leading private lender
Latest update on Park Trent.
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Yours in Finance.
0-40 properties in a decade.Ask me how.Richard Taylor | Australia's leading private lender
Terry no I that is not the case.
Many lenders (AMP are a good example) get you to confirm that you either have not given any advice in relation to an offset product or you are licensed to provide the advice.
Rather ridiculous in my opinion.
Cheers
Yours in Finance
0-40 properties in a decade. Ask me how.Richard Taylor | Australia's leading private lender
Yep they certainly are.
Be surprised how many brokers don’t realise they are unable to give advise on offset accounts without breaking the law.
Cheers
Yours in Finance
0-40 properties in a decade. Ask me how.Richard Taylor | Australia's leading private lender
Don’t worry when we open in Adelaide next year will buy you lunch and say g’day.
Cheers
Yours in Finance
0-40 Properties in a decade. Ask Me how.Richard Taylor | Australia's leading private lender
Hi Bill
A Corporate Trustee structure is a fairly standard structure so the Broker won’t need to be a genius to understand it.
Do you need a face to face sit down as this day and age most things are done by email, phone etc.
Saw a forum client today for a coffee but that is a rarity as most prefer the electronic method of communication due time constraints.
Number of lenders left who will offer the same rate discount and terms for a Pty Ltd ATF application as they would for a deal done in your personal name.
Cheers
Yours in Finance
0-40 properties in a decade. Ask me how.Richard Taylor | Australia's leading private lender
Hi Dboyle
Would all depend on how you define strategy advice but from what you have stated i would think it would be a Financial Planning License & Credit License.
Then you have compliance issues as you are required to produce a Statement of Advice on each matter etc.
Cheers
Yours in Finance
0-40 Properties in a decade. Ask me how.Richard Taylor | Australia's leading private lender
Hi Dboyle
Well done on achieving what you have.
Hate to say any form of advice will require some form of licensing whether it it be strategy, credit or otherwise.
This day and age their is a license for everything and the cost of compliance mounts daily.
You can probably answer the odd question on the forum with a general statement but need to be careful.
Cheers
Yours in Finance
0-40 Properties in a decade. Ask me how.Richard Taylor | Australia's leading private lender
Hi Mitch
Firstly welcome to the forum and hope you enjoy your time with us.
Promise there is no such thing as a stupid question and most of us old timers don’t bite so feel free to ask away.
Ok here goes:
1) Certainly an Accountant and a Financial Planner could have a place in your team however certainly for the average investor just starting out it is probably overkill.
A Financial Planner is going to be more likely to direct you to a range of managed funds etc (I am a FP and seem to one of the very few that focuses mainly on property).
Your first port of call i would say would be an investment orientated mortgage broker who can provide you suitable credit advice, run some numbers on serviceabilty and give you a broad based starting point.
2) As far as deposit – 20% on your first investment property is ridiculous. Realisitically max loan would be 90% lvr and waiting to save up an additional 10% would take forever.
3) No issues in buying a PPOR and renting out a few rooms. You wont be able to use the border income to increase your serviceability however will certainly help cover a few expenses. Just make sure you notify your insurance company to ensure you are fully covered.
Stay around read previous posts and if you feel we can help it’s simple just shout.
Remember we all had to start somewhere.
Cheers
Yours in Finance
0-40 properties in a decade. Ask me how.Richard Taylor | Australia's leading private lender
Fantastic Xenia.
I have a guess you won’t be adding that tenant to your Xmas card list.
Cheers
Yours in Finance
0-40 Properties in a decade. Ask me how.Richard Taylor | Australia's leading private lender
Hi monte
I think if you do a search you will find plenty of reviews.
If in doubt have a look at the Property Chat Forum.
Unfortunately as there be maybe young adults viewing this forum I can’t repeat some of the written comments about their service others have posted. Certainly makes for colourful language.
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Yours in Finance
0-40 properties in a decade. Ask me how.Richard Taylor | Australia's leading private lender
You have to ask yourself why would he not provide such information.
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Yours in Finance
0-40 Properties in a decade. Ask me how.Richard Taylor | Australia's leading private lender
Agree with Terry I think a 18th December Settlement is very optimistic this time of year.
Gives you less than 24 days from start to finish. If it is a mortgage insured loan or slightly out of the ordinary I think you will be pushing it.
Cheers
Yours in Finance
0-40 properties in a decade. Ask me how.Richard Taylor | Australia's leading private lender
Xenia We have been Licensed agents since 2002 and incorporated a National Buyers Agency service into the Company in 2011 which Jacqui heads up.
We have about 420 properties under Management thru another entity and looking at expanding that interstate next year.
Cheers
Yours in Finance
0-40 Properties in a decade. Ask me how.Richard Taylor | Australia's leading private lender
Yes we have used TICA for years not only for our personally owner properties but for our agency stuff.
It is a National Data base and as we are expanding the BA service nationally next year it helps keep track of Tenants Australia wide.
There are a few legal options if the Rent Default on your Landlords insurance doesn’t cover you but would only consider these as a last resort depending on the amount owed.
Cheers
Yours in Finance
0-40 Properties in a decade. Ask me how.Richard Taylor | Australia's leading private lender
Hi Nick
For 700K in Brisbane you could buy something in a really top suburb with good long term growth but not sure you would get the return you need.
If you are looking for rental income you need to manufacture the return over time.
There are many areas that might meet the need without breaking the Bank.
Personally unless it is a Torrens Title Townhouse in a good suburb (and these get snapped up very quickly due to the lack of body corporate) I would avoid both Units / Townhouses in Brisbane.
Cheers
Yours in Finance
0-40 Properties in a decade. Ask me how.Richard Taylor | Australia's leading private lender
Barlow there are a few things you could do without having to refinance.
Setting up an equity loan with the existing lender would get you going depending on who it is.
Cheers
Yours in Finance
0-40 Properties in a decade. Ask me how.Richard Taylor | Australia's leading private lender
Of course as I mentioned you don’t have to wait until Pension age.
Within a year you could commence a TRIP and you could then salary sacrifice an amount and draw from the TRIP the same amount with the 15% pension offset. The earnings in the TRIP part of the Super Fund will be exempt from Tax from day 1.
Cheers
Yours in Finance
0-40 properties in a decade. Ask me how.Richard Taylor | Australia's leading private lender
