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  • Profile photo of Richard TaylorRichard Taylor
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    July 28, 2020 - 9:35 am

    Hi Deepanshu

    Yes I have done 100’s of VF deals in the past and built my portfolio using VF as a cash flow to pay down my long term buy and holds.

    We provide a VF component to First Home buyers and investors here in Qld.

    Course if you are thinking of offering VF to potential buyers in the course of business you are required to hold an Australian Credit License these days.

    Cheers

     

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    July 28, 2020 - 9:21 am

    Hi Zane

    It will depend whether you need to utilise the 10K from Super to complete your home purchase.

    If you have separate savings to demonstrate that this is not required i believed it can be done.

    Cheers

     

     

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    July 25, 2020 - 5:22 pm

    Precisely….. so can be used for the next purchase if required.

    Cheers

     

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    July 23, 2020 - 7:18 pm

    Hi Jaxon

    So from my understanding previous incentives get paid when the build/purchase goes ahead and you wouldn’t be able to use for another property as they are usually part of the purchase

    No that is incorect there is no requirement to have the Grant payable to the Builder/Lender you can certainly have it paid to you personally and use it on another property.

    Cheers

     

    Yours in Finance

     

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    June 22, 2020 - 8:47 pm

    Dont worry Terry we have explained to KKaur that a Commercial loan could be done in personal names.

    We have also been advised that she was unable to get 7 individual contracts or indeed 1 of 4 Units and 1 of 3 Units.

    As a consequence we advised her 65% maximum lvr on a block of 7 given the regional location.

    Cheers

     

    Yours in FInance

     

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    June 18, 2020 - 8:02 pm

    Hi Bec

    Assuming you qualify for the Qld Grant you would receive the $15,000 plus a further $25,000 if you buy an off the plan property (Contract dated post 4th June 2020) or buy land and sign a building contract within prior to Dec 31 2020 which comenced within 3 months. If you decide to buy in a qualifying regional area you would qualify for a further $5,000. Both Grants are administered by the Qld Govt.

    At this stage lenders will not accept the Grant as sole deposit so you are going to need either 5% genuine savings as deposit or an alternative method of evidence (rent receipts etc). We are based in Milton and are certainly getting an increase in borrowers wanting to buy their first home.

    As far as properties in the 400K range my son is looking for something similar and he has been looking around the Redbank Plains, Springfield Lakes area.

    Feel free to get in touch if you need any help or assistance.

    Cheers

     

    Yours in Finance

     

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    June 14, 2020 - 8:00 pm

    Scott, you do sound like you are on the right path.

    Feel free to shoot me an email and i can send you an article i did with the API magazine and how i built my property empire.

    Some of the strategies may have changed over time but the concept is still the same.

    The loan structure going forward is important in order to maximise your deductions.

    Cheers

     

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    June 14, 2020 - 2:39 pm

    Kkaur, Treated as a Commercial loan so you will be back to 65-70% Max lvr.

    Location will be important as if regional will be less than that.

    Unlikely they are going to allow split contracts so going to need to be funded inline.

    Would need a little more information to give you a more accurate indication as to fees, rate etc.

    Cheers

     

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    June 13, 2020 - 5:05 pm

    Hi Dale

    Sorry to hear about your wifes situation.

    Borrowing in your personal name means the loan is Coded so would involve any potential lender to undertake a full servicing to ensure the loan was not unsuitable. Also means the lender needs to hold an Australian Credit License.

    A Coded loan requires interest payable monthly in arrears and cannot be capitalised.

    Ok probably not one for us then. Good luck.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    June 12, 2020 - 9:21 pm

    Is it an owner occupied property or investment ?

    Is the borrowing in your personal name of a Company ?

    Cheers

     

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    June 11, 2020 - 2:05 pm

    Hi Chetnik

    I am assuming from the post that you intend to knock down the existing house and then construct 2 new dwellings on the land.

    If this is the case the Tax deductibility would normally be based on the sq metre of each dwelling and is likely to be an interest only loan during construction.

    As far as structure is concerned we would need a little more information to provide a suitable response.

    Cheers

     

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    June 8, 2020 - 11:59 am

    Yes they sure have.

    https://treasury.gov.au/coronavirus/homebuilder?fbclid=IwAR0IpHWk0adxthwdH5xGm_yvrbx5Uv1m2LQ_yXv4bV1H6_N6RNGTvT66SZU

    This should get you going.

    Cheers

     

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    June 6, 2020 - 7:22 pm

    One of the qualifying criteria is borrowers need to be Australian Citizens.

    Cheers

     

    Yours in FInance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    May 19, 2020 - 8:47 pm

    Personally as a Licensed Agent i wouldn’t allow my team to take a listing at 1% plus GST as i value their time a lot higher than that.

    I have 2 full time sales agents working out of our Noosa office and 5% of the first $18,000 and then 2.5% is standard even on the higher priced properties ($10M upwards).

    If you find someone who is prepared to take the listing at 1% and you are happy with them go for it.

    Cheers

     

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 2, 2020 - 12:56 pm

    Just be aware Vendor Finance is now illegal in several States in Australia.

    Cheers

     

    Yours in Finance

     

     

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    March 31, 2020 - 6:08 pm

    What you mean like propertyinvesting.com ?

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    March 12, 2020 - 8:49 pm

    Rent to Buy and Vendor Finance now banned in several States in Australia so ensure you are operatng legally.

    Cheers

     

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    December 3, 2019 - 2:34 pm

    As a result of recent RBA interest rate falls we have now dropped the interest rate on this product to 3.85% plus a 2% or 2.5% Management Fee (dependant on whether the LVR is over 80% or not) and hit our 100th settlement.

    Certainly the response from borrowers, brokers and other intermediaries has been excellent.

    Here’s to a good start in 2020 and further rate cuts for Super Funds.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    November 20, 2019 - 2:26 am

    Given Vendor Finance is now illegal in 3 States of Australia I doubt the course has much value these days.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    October 17, 2019 - 10:25 pm

    We have been offering our 90% NO LMI SMSF product for the last 3 months and setted over 20 deals so far with another dozen + in the pipeline. At the monment we only offer it thru Finsure Brokers one of the Aggregators we are on the panel of. It is also only offered in Qld, NSW and ACT.

    They also have our No Deposit investment loan (Qld brokers only) and again has been a game changer.

    The SMSF is a nodoc product and doesnt fall under NCCP.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

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