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  • Profile photo of Richard TaylorRichard Taylor
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    January 18, 2010 - 10:53 am

    The proposed new body corporate would be responsible for the common areas assuming the units are strata titled.

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    January 18, 2010 - 10:50 am

    Certainly from a pure servicing perspective with 100K clear deposit and assumed rent on the IP you would be able to service the loan without your parents standing as Guarantor.

    Ideally this is the prefered way to go as Guarantors can messy as far as your parents are concerned.

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    January 18, 2010 - 9:48 am

    There is no Maurice Davis holding a FSA License in the Uk.

    28 Morris Court is a highrise block of units.

    Just do a reverse post code search and see a list of the units.

    No wonder he had broken english he wasnt even in the country.

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    January 18, 2010 - 9:31 am

    Darren

    What is his FSA License Number.

    Let me have this and I will call this evening.

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    January 18, 2010 - 8:39 am

    Darren

    Did they give you a website address or location in London.

    I used to work in the City and whilst i wouldnt confess to know ever crook and cranny be happy to look at their wesbite for you and make a call or two to some old friends.

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    January 18, 2010 - 8:12 am

    I never get amazed by what i read but this surely has to be close to the last straw.

    If we dont hear from you insure we wont hold our breath. Seriously man have you never thought this could be a scam !!!!

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    January 18, 2010 - 8:09 am

    Hi Zenny

    Dont want to be rude but if you only want to use a MB to get the lowest rate probably going to find you will be disappointed.

    The lowest interest rate today will not be the lowest in a months time or a month after that.

    A decent broker will help you structure the loan correctly to enable you to purchase what you are after and will provide you with a flexible loan product that works with you and not against you.

    He also understands your needs as he works for you and not the lender.

    In the current climate this can be critical.

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    January 18, 2010 - 4:29 am

    You could look at wrapping the property when the purchaser will pay to you the deposit and you can use this however you still need to cover your acqusition costs.

    Other than this if you dont have sufficient equity in your current property you probably wont do it.

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    January 18, 2010 - 3:46 am

    There is nothing you can claim if the property is your PPOR (the odd exception being if you work from home and claim a poprtion of the overall living area for business).

    If the PPOR became an IP during the year then the claim is proportional from the day the property was available for rent until the end of the financial year.

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    January 18, 2010 - 3:42 am

    Hi Jo

    In Qld the Selling agent will try and obtain sufficient to cover the commission he will charge the Vendor.

    I would be telling him that you only have a $1000 and cover the rest by Deposit Bond if he insists on 10% once you go unconditional.

    Otherwise balance will be provided by your financier on settlement.

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    January 18, 2010 - 1:49 am

    Hi Briduff

    Firstly welcome to the forum and I hope you enjoy your time with us.

    Yes i agree $6K is a ridiculous amount to pay for something that a decent mortgage broker will do for nothing.

    There are many strategies of Destiny i totally disagree with esepcially when it comes to Cross collateralising your loans and many a decent Buyers Agent will locate the property for you given your property specificiations. 

    Like anything research and reading is the key. Many publications such as API will analyse areas and suburbs for you and a lot of information is free.

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    January 17, 2010 - 8:50 am

    As i stated earlier we have many members on the forum who have amazed more proeprties and who are younger than eric and guess what they come on the forum sharing the knowledge and information for free.

    At the age of 29 he has accumulated an investment portfolio of 18 investment properties.

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    January 16, 2010 - 7:57 am

    Not really a lot of it is down to LVR.

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    January 16, 2010 - 4:29 am

    Tery is right lower the lvr the better.

    1 lender i know as long as you were previously employed in similar industry will still do the deal on probation but asme story longer you are there the more choice you have.

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    January 16, 2010 - 1:05 am

    Dear Alvin

    Great opening post.

    Without being funny if Eric you founder has only 10 properties at the age of 30 maybe he should log in to the forum and learn from a few of our members who have a lot more than that and are younger than he is.

    Really i ask you. You say you run an investment class can we ask what is your AFSL number.

    What other qualifications do you and Eric have.

    We would all love to hear.

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    January 15, 2010 - 6:25 am

    Rest my case GOM.

    The record is now broken.

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    January 15, 2010 - 5:23 am

    5 years or the length of the loan if this is a shorter period i think i am right in saying Dan ?

    Richard Taylor | Australia's leading private lender

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    January 15, 2010 - 5:21 am

    Carry out a Title Search and you will see the Registered Interest in the property and with whom.

    Course wont tell you the balance outstanding. 

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    January 15, 2010 - 5:19 am

    Sherri Is the block in Brisbane ?

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    January 15, 2010 - 5:17 am

    Leo

    Throwing my 6 pence in.

     A) Will banks lend to us under this arrangement?

    No hate to say they wont lend where the Title is in your mothers name and the loan is in your name.
    Maybe a couple of ways around it but she will need to a party to the loan.
     
    Course if you hold other unencumbered security this maybe different.

    Richard Taylor | Australia's leading private lender

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