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  • Profile photo of Richard TaylorRichard Taylor
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    May 2, 2015 - 3:58 pm

    Hi Luca

    No i think it is a good idea but as long as you are happy with Melbourne as your investment destination.

    We are finding the inner city properties of both Sydney & Melbourne are getting rather overheated and therefore are putting more of our forum clients into SE Qld which still has a lot of room left in it for growth and appreciation.

    I think your budget is more than sufficient and you should be able to find something that meets your criteria.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    May 2, 2015 - 3:51 pm

    Block with Development Potential every day of the week.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 27, 2015 - 6:32 pm

    Yes maximum IIA you can claim is 12 months however it can be a rolling period renewable each expiry.

    Cannot be a 5 year fixed rate but 5 x 1 Year fixed rates. Big big difference.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 27, 2015 - 11:25 am

    Ivan i hate to say i think you are 7/8 years too late.

    Steve’s book is 12 Years plus old and the contents are largely out of date.

    Cheers

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    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 27, 2015 - 11:18 am

    We are Licensed Buyers Agents in Qld and never do conjunctions.

    We act for the Buyer and charge the Buyer for the service.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 27, 2015 - 11:13 am

    Sorry Manuel that comment is rubbish.

    Traditional residential lenders do NOT lend on end value irrespective whether the deal stacks up or not.

    The original poster made comment that he had very little equity in the purchase so i am assuming it was a mortgage insured loan.

    To tell him that a Bank will advance him funds is misleading an inaccurate.

    Please try and stick to facts when posting on this forum.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 27, 2015 - 11:09 am

    Freddy Terry is saying YOU CANNOT FIX A LOAN FOR 5 YEARS with IIA.

    Cheers

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    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 23, 2015 - 7:59 am

    Most lenders offer it in some form or other.

    I have just refinanced a number of properties for another forum member and the 1 Year IIA rate was very sharp.

    He is on a large income this year which may reduce over the coming years and makes good financial sense.

    Just need to be aware the cut off period for a lot of lenders is coming and it is not a matter of merely settling prior to June 30.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 23, 2015 - 7:57 am

    Woodridge & Nundah wow talk about the devil and the deep blue sea, wouldn’t touch either of them for a number of reasons.

    Whatever benny says you will not be buying in Woodridge and keeping it as a set and forget IP.

    Nundah has oversupply of units (Trust me i have done enough developments in the suburb including the old Bowls club) and there is far better buying in the Inner West.

    I think Bangers is about right with his 7/8 O’çlock scenario but trust me the demand is incredible and sometimes for the right property hard to keep up.

    Cheers

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    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 20, 2015 - 11:34 pm

    Hi Borna

    Firstly congratulations on your maiden post and hope it is the first of many.

    Other than the added costs involved in a higher loan to value and the possibility of negative equity should the property fall in value there is no real disadvantedge in putting a limited deposit on your IP.

    As far as potential Tax deductions the only additional benefit is the added interest deduction on the extra borrowing.

    Structured correctly there is no reason why you wouldn’t proceeed on this basis.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 15, 2015 - 8:23 pm

    Hate to say Holly has posted the same deal on so many sites it is not funny.

    Cheers

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    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 15, 2015 - 7:46 pm

    Andy are you sure North Lakes is where you want to be investing in ?

    Clearly you are not a Brisbane local.

    We certainly are not buying in NL for our clients.

    Cheers

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    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 15, 2015 - 7:43 pm

    Hi Harry

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

    Must admit i got slightly confused with your post.

    You mention you have 300K in cash but are looking to use these funds to buy in your home country ?
    Regretfully you will need a decent deposit in Australia and there is no Govt funding / loan.

    I hate to say most lenders are going to require you to have had you Australian Business Number (ABN) for at least 2 years before they will consider you income so come June 30 when you lodge your first Tax Return this will only be for a partial year.

    There are a few lenders that will consider a variety of other forms of income evidence i.e BAS / Bank Statements etc but the loan to value will be reduced and in most cases the rate will be slightly higher.

    Without further details it is difficult to assess the deal further.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 15, 2015 - 7:36 pm

    Yes agree.

    We get the client 1.1% discount and in a year the client rings the Bank and they offer him 1.2% and he is now convinced that he managed to negotiate the additional discount himself.

    At least with ME you now that no one else is getting anything better with them.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 15, 2015 - 7:33 pm

    Hi Andrew

    Having been involved in well over 200 wraps over the last 15 years you will surprised how many lenders won’t touch them even with a perfect credit history / income evidence.

    In saying that thankfully there are still lenders who will do it within their normal guidelines.

    Without further details it is difficult to tell you whether the hurdles they would need to overcome are doable.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 15, 2015 - 11:47 am

    Yes sure do = NONE

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    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 15, 2015 - 11:16 am

    Yes if your builder’s fixed price contract includes all of the additional works and expenditure and then the lenders valuer agrees with the costings.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 14, 2015 - 5:04 pm

    Dean

    Have a look yourself. http://www.mebank.com.au/

    Just watch out for the comparison rate.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 13, 2015 - 7:10 pm

    Fredo i think you are confused as to what can be borrowed and what cannot.

    I am assuming you are trying to do the deal as a resi deal and if this is the case max loan will be based on the fixed price building contract or valuation whichever is the lower.

    Subdivision costs are soft costs and you will not be able to borrow for these unless you have equity elsewhere or you builder covers them into construction costs.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 13, 2015 - 2:08 pm

    You can’t. If you sell the property the loan will need to be repaid.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

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