Hi mddedf

Certainly you can go above an 80% loan to valuation but would need some actual numbers to provide you with a more structured response.

Cheers

Yours in Finance
0-40 properties in a decade. Ask me how,

Hi Argyle

Deposit requirement inside a SMSF would be a minimum of 20% but in Tassie likely to be nearer 30%.

Plenty of other liquidity and servicing restrictions etc

Maximum 10% paid upfront (otherwise it becomes an instalment contract) with the balance on settlement. Course if you can negotiate lesser terms then all well and good.

Sorry to hear about the Park Trent fiasco they certainly wouldn’t be on any existing clients Xmas card list.

Cheers

Yours in Finance
0-40 properties in a decade. Ask me how.

Hi Trevor

The market certainly hasn’t gone down but seeing who you bought them thru I tend to think you probably overpaid for them in the first place.

Let me guess they were both brand new?

$47k won’t buy you much at this moment in time and wouldn’t be enough to use as a deposit to gear into a property inside a SMSF due to the more stringent lending terms in SMSF lending.

Nothing to stop you starting the fund making a combination of deductible and non deductible contributions and then looking to gear up once the fund has a suitable amount invested:

Cheers

Yours in Finance
0-40 properties in a decade. Ask me how.

Hi Aru

Welcome to the forum and hope you enjoy your time with us.

Sounds like you are new to the City but I will assume that you know the Western Suburbs.

Nothing wrong with Forest Lakes but yes termites and fire ants are an issue around the area but like anything preventative care and regular maintenance will cure this.

If you have that amount too spend i would suggest Augustine Heights or Springfield itself although the homes there tend to be newer.

Nothing wrong with a home that is 23 years old as it will have plenty of chance to cure and any building issues will be evident.

As Benny mentioned before you rush off and make and offer sure you can definitely service such a loan. Maybe get your Broker to run some numbers beforehand to be sure.

Finally, in Qld a standard Contract is subject to a “cooling off” period of 5 business days and also subject to “Finance” and a “Building & Pest inspection”.

Just because you make an offer at a particular price doesn’t mean you have to settle at that price if either your offer of Finance or your Building Inspection is not satisfactory.

Feel free to give us a shout or drop us an email if you want any other info on the area.

I am in Chapel Hill which is only a good 3 iron away.

Cheers

Yours in Finance
0-40 Properties in a decade. Ask me how.

TM

Why don’t you consider using some of your 20% deposit to cover the Stamp Duty and acquisition costs.

Go for a 90% loan and cop some LMI. It can be your opportunity cost friend in this climate as well as being a Tax deductible expense.

Be careful with a long settlement as you wont be able to lodge a finance application until you have proof of funds to complete and means you are unconditional without any guarantee that the Bank will stomp up the cash to complete.

VF is an option and certainly we are seeing more and more enquiries for such product.

Cheers

Yours in Finance
0-40 Properties in a decade. Ask me how.

I still disagree we finished another development there last year a small block of 8 and think we were lucky to get out in the nick of time.

I prefer Everton Park now with the recent Town Planning changes. We have a couple of long dated Options which we will hold and decide what to do nearer the time.

Guess one of the advantedges of being on the spot and seeing what is actually happening in the suburbs and talking to valuers rather than reading the papers and listening to the media hype.

Always find actual sales evidence is more accurate.

Cheers

Yours in Finance
0-40 properties in a decade. Ask me how.

• This reply was modified 9 years, 2 months ago by  Richard Taylor.

Ag, You might want to post these as a separate post as it doesn’t to have any correlation to the original question.

Cheers

Yours in Finance
0-40 Properties in a decade. Ask me how

Ivan about 2 years too late for Mitchleton.

Similar to Zillmere had you got in 36 months ago you can have done ok.

Suburb is not fairly full of either old Qlders that need a bit of work or development sites and over supply of townhouses.

Cheers

Yours in Finance
0-40 Properties in a decade. Ask me how.

Hi Chattaway

You would surprised how many forum clients have been in touch to refinance their existing loans since lenders started to increase interest rates on IP loans.

In fact there are some excellent Interest only deals doing the rounds for PPOR’s.
If you decide to rent the property out in the future that is upto you.

Cheers

Yours in Finance
0-40 Properties in a decade. Ask me how.

• This reply was modified 9 years, 2 months ago by  Richard Taylor.
• This reply was modified 9 years, 2 months ago by  Richard Taylor.

Yes anything is possible guess just a matter of finding an investor who is prepared to invest in both the property and yourself.

Good luck in the current climate.

Cheers

Yours in Finance
0-40 properties in a decade. Ask me how.