Hi Paw

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

Couple of answers below:

Change current P&I loan to I/O and set up offset account (This may be tricky, our loan is with a credit union that have pretty much zero loan products, so this would involve shifting lenders. There may also be exit fees that need to be considered)

Hate to say your current interest rate will be a lot higher than 5.2% at present. Credit Unions certainly have a place in the market but unfortunately they are pretty limited on their product base and flexibility.

Transfer title to new entity. (I know this is possible but I am not sure if it would be viable. Even though the company would be owned by me I’d assume I would be up for stamp duty costs + solicitor fees etc.? Obviously new purchases would go under this entity but having this one property in our own name could tie us down?)

To be honest probably not worth considering at this stage given the Stamp Duty which would be payable and the additional Land Tax. For your next few properties then certainly worth considering depending on each property individually. If you intend to develop the property then you would consider a Discretionary Family Trust (with ot without a Corporate Trustee) however if you need to rely on the negative gearing to support the repayments then this may not be the way to go.

Pay our investment money into our offset account, and when making another purchase, draw deposit/fees from offset account and finance the remaining balance.

Now your talking my language as I certainly like to see a 100% transactional offset account being utilised.

I would be looking at switching the loan to Interest only (even if you have to switch lenders to be able to move forward) and linking a 100% offset account to the loan. Deposit your income and potential rent into the account and then look to use this as deposit for your future acqusitions.

Structure is certainly important going forward so the steps you take now will serve you in good stead down the track.
Depending on the current market value and overall lvr will determine whether you will incur LMi and this could be a consideration.

In saying this LMI is an opportunity cost of moving forward and a small price to pay if it achieves the right goal.

Hi William

Still the odd lender who will do 95% for an expat.

Camel

If you are a non resident / citizen you will be limited to 80% lend as you wont get mortgage insurance.

Also in WA a Credit License is required to be able to offer you Vendor Finance so probably not going to find a lot of Vendors too keen to make application just to be able to offer you vendor terms.

With more information i can tell you whether and what you would qualify for.

Hi Ben

I would recommend an IO loan on every loan where possible even if it is your PPOR.

Flexibility is key and IO gives you that.

Hi ferdinandch

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

I wont comments on the particular suburbs as i have property in both of them and think both are excellent as far as capital growth and rental stream.

In saying this i agree with the other comments. When it comes to studio units you will certainly find financing such a security difficult to obtain a decent lvr which means you need to put more of your capital into the deal when it could be utilised elsewhere on other investments.

If you intend to occupy the property initially and then rent it out make sure you structure the loan correctly so as to maximise your interest deductions when you come to rent it out.

Hi Cats

Subject to the current value of your property and your income you could probably obtain a line of credit to 90% of the market valuation.

Not sure that will give you $50K but with the right lender and valaution it wont be a million miles away.

I agree with what you want from a FP and certainly what we offer our clients.

Proactive rather than reactive but have to say good luck in finding someone like that as most merely work on half yearly / yearly reviews and then look make changes then.

All a matter of number of clients and so many hours in a day.

Sorry cant recommend anyone in NSW to you.

Hi Mlbm

Sorry to hear about the breakup.

As far as the Transfer document goes this is fairly straight forward and can be done under the Love and Affection clause in Qld.

The loan will mean refinancing the whole loan as the property will on settlement only be in the one name so hence the loan will be in the same name and you will need to ensure you can qualify for the entire new debt.

They are not negotiable prices as the Developer has his margin pre-set and TIC want their fat commission.

Also you will need to have deep pockets or plenty of equity as most lenders dont like OB and the lvr are considerably reduced.

$3000 is bang on Terry (No small amount to be sneezed at depending on the number of children you have) and of course if you run a small business they can be paid a nominal amount for small jobs and then claim the Superanuation co-contribution through your SMSF.

My oldest 2 are 13 & 15 and have a decent Super amount to roll over to their first employer thanks to the Australian Government.