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  • Profile photo of Richard TaylorRichard Taylor
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    December 11, 2014 - 2:23 pm

    Guys simply ask them in what areas they buy in Brisbane.

    Until last month when I sold my block of 18 units I had 40 of my properties in Brissie so I know the area well.
    Let us know and we can comment although of course I have a feeling where they will tell you.

    Also ask them do they show you 2nd hand properties. Thru our Brisbane Buyers Agents service we only buy used property for clients and I can figure a guess that non of them will be in the areas these mobs buy in.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    December 8, 2014 - 10:04 pm

    Another thumbs up for Darryl.

    Shot over another couple of clients this afternoon.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    December 3, 2014 - 9:09 am

    Can’t recommend a decent Mortgage Broker unfortunately.

    Will PM you a decent BA in each of the 3 Cities.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    November 27, 2014 - 10:48 pm

    Time to be switching brokers and ignoring comments from work colleagues.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    November 26, 2014 - 10:40 pm

    Hi Darkness

    Not a silly question at all.

    If you are buying for 600K then your new loan will be for 600K and interest repayments will be based on this figure.

    Remember there is a big difference between equity and borrowable equity.

    The other thing is if you are looking at buying another property probably a good idea to get the equity loan set in place now in readiness as you would probably look to use a separate lender for the standalone loan.

    Structure the loans correctly and you will be fine.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    November 25, 2014 - 11:34 pm

    I will see if i can’t link one of the LMI articles i wrote from the API magazine.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    November 22, 2014 - 10:42 pm

    Hi Mike

    Sure what do you need clarified.

    Have a number of clients on a similar income to income and asset position to Bozzie who we have helped acquire 4/5 properties over an 18 month period.

    I am originally from the UK but living in Brisbane and built up a portfolio of 40 unencumbered properties in a 10 year period giving a gross rental income of over $900,000 AUD per annum so 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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    November 22, 2014 - 8:52 pm

    Hi Bozzie

    Not sure i would be diving in to buy a 1 bedroom unit in Brisbane City Unit at the moment due too the increased holding costs but you can certainly buy plenty of quality properties in other areas which will give you cash flow and potential capital growth.

    On your income there is no reason why if your loan structure is set up correctly from day 1 you cannot increase your portfolio rapidly over time.

    We have a number of clients in a similar position who have acquired a number of properties and built up a decent portfolio.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    November 22, 2014 - 8:43 pm

    Hi Mitch

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

    Certainly IO with offset is the way to go as long as you don’t pay over the odds for the privilege.

    You might want to consider look at going to 90% and placing the 10% in the offset as the LMI is a Tax deductible expense.

    There are also a couple of alternatives which might be just as palatable.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    November 18, 2014 - 8:33 am

    Bobby than limit yourself to an 80% lend why not borrow 100% and use the 20% as collateral cash security.
    That way when you eventually rent the property out you will be able to claim a Tax deduction on the full amount of the original loan.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    November 18, 2014 - 8:30 am

    Hi Michael

    I think I responded to Alan on a similar deal yesterday.
    Easy way around it is to get the broker to order another up front valuation before submitting it to any lender.
    That way it avoids another credit hit on the customers file.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    November 17, 2014 - 3:49 pm

    Hi Achimy

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

    Totally agree with you that it is hard to build a team of professionals that you can trust as most are dependant on the income they receive from their recommendation and without this they are unable to put bread on the table.

    I usually say to client just ask the professional how many properties they have and you will see whether they are on the same path as you.
    You would be surprised how many Brokers out there are giving credit advice to investors and yet don’t even own their home or have even purchased their first investment property.

    It is a bit like going to a dentist for a tooth removal to be told that he has never done one before but will give it a whirl. Certainly wouldn’t fulfil me with confidence.

    Certainly no one objects to any professional earning an income for their services but try and build your team with people who do it because they enjoy it and is not reliant on the income they earn.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    November 15, 2014 - 5:11 pm

    Hi Plummer

    Sorry i have to disagree with what has been said.

    I can think of a couple of lenders who would take your past PAYG income into consideration even though you maybe deemed as self employed.

    I have just settled a deal for another forum client in the same position.

    Left employment 6 months ago to go self employed and only had 2 BAS with accompanying Bank statements.
    Lender agreed with us that as it was in the same line of work we could run off his last Payment Summary and approved the deal.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    November 11, 2014 - 9:37 am

    Hi Josh

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

    You are certainly in a good position to kick start your portfolio with a decent deposit and structured correctly no reason why this cannot be a launch pad going forward.

    I have never heard of the Rocket Property Group but I bet my bottom dollar they are a marketing group and the property they have advised you to buy is NEW. Ask them do they ever deal with second hand properties and I think the answer will be No. There will be of course some justification as to why not and it usually covers and explanation about receiving less in the way of Tax deductions. Course it is is all a load of nonsense as the deductions on a new property and one that has already been sold and then resold some 6 months later are almost identical.

    Going forward remember you cannot retire on Capital Growth alone. You need cash flow and certainly a good quality second hand property in the right city / suburb will do you just as well. I built my portfolio in Brisbane with cash flow as my main aim and the capital growth followed. Some years later with structure, hard work and a bit of luck I was able to retire more than comfortable and live off the rental income. Drop me a line and I am more than happy to send you a copy of my API interview on my portfolio and how I got started. Might be some inspiration.

    My business partner Jacqui (JacM from the forum) runs our property sourcing department based in Melbourne and I think she will give you a better insight into Brighton and the surrounding suburbs. Certainly we are not buying inner city properties for our forum clients at the moment and won’t be doing so in the near future.

    Surround yourself with a good team and reach out to them to work with you on your property journey.

    Good luck and don’t forget to ask if you have any questions.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    November 10, 2014 - 5:44 pm

    Hi Mizfitz

    Quite a common situation and one that can certainly be overcome with the right lender.

    Course would need further information to make a suitable recommendation.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    November 8, 2014 - 8:16 pm

    Hi Tjay

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

    No hate to say there is no lender that adds the stamp duty to the loan however thee maybe a couple of alternative options.

    Course without more information it is hard to provide a more structured response.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    October 31, 2014 - 10:57 pm

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

    I totally agree with PHP that face to face meeting whilst all good and nice is useless if the so called local professional has never purchased an Ip in his life and us merely a paper shuffle.

    I assume from his website science surf doesn’t work for nothing and not wound investor expect the mortgage broker etc to do do.
    All Brokers receive a commission which us disclosed to the client and in 26 years of being in the industry I have never had a client complain.

    This evening I spent over an hour on Skype to a forum client in Dubai who has purchased a couple of IP’S thru our property sourcing service and wanted to discuss finance options.
    Obviously a face to face sit down over coffee would not be practical but he appreciated the depth of our investment knowledge and certainly had no complaints we were receiving a commission for the credit advice.

    You have to understand not all Bankers or Brokers are equal. There are those who have no clue and those that have been around the traps once or twice and have their own portfolio.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    October 31, 2014 - 10:43 pm

    Sorry Neil that is not correct other options are available.

    You stated you are “just about to settle” and if this is the case it us too late.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    October 31, 2014 - 12:05 am

    Darryl Richards at Certus is a Options expert.

    He is based in the City.

    We use them on all of our development sites as it provides more flexibility.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    October 31, 2014 - 12:03 am

    Certainly in Qld there would have been better ways around it to avoid such issues but of course too late now.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

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