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But, one drawback is that a company does not receive the 50% reduction in CGT for assets held more than 12 months
Absolutely correct but not applicable if you are looking at doing a flip.Richard Taylor | Australia's leading private lender
Eternit
It is very simple you may the property in the name of ABC Pty Ltd a newly established Company with a 3 month settlement date.
After a week you find a buyer for the property and rather than redo the purchase contract merely do a Share Transfer and the buyer buy the shares in ABC Pty Ltd. As long as the Company is not considered Land Rich there is no stamp duty payable by you on the transaction. You just need to check you State for the restrictions on Land Rich Companies.
Richard Taylor | Australia's leading private lender
Can you imagine having just bought a RAMS franchise.
Richard Taylor | Australia's leading private lender
Rob
GST is payable on the strata title of a block where you have done :substantial renovation".
Admitedly took a private ATO ruling to find that out but it is the case.
Richard Taylor | Australia's leading private lender
I dont think i would be rushing in to refinance with a securitised lender at the moment but everyone to their own.
Richard Taylor | Australia's leading private lender
There is a big difference in interest rates between 90 / 95% LVR when it comes to lodoc loans.
At 90% you are looking at an interest rate of around 8.6% with another 1% added on for a 95% LVR. Both these rates assume that you pay the LMI or they can be paid for by adding another 1% or so on the interest rate.
All loans are fully mortgage insured and very post code sensitive.
Richard Taylor | Australia's leading private lender
St George offer a Foreign Currency loan facility with the interest rate pegged against the Interbank rate for the country in the currency is charged i.e In HK the rate is set against the HIBOR currently around 5.75% depending on the loan amount with repayments being made in HK dollars.
Richard Taylor | Australia's leading private lender
Adelaide Bank offer an excellent lodoc product but maybe only open to limit brokers.
To be honest no i dont use ING or Bank West for residential deals.
Richard Taylor | Australia's leading private lender
If you want the best on the CG try Steve Hodgkinson who is a partner at the Gold Business Group at Southport.
Steve has been a good friend and my Accountant for the last 12 years and is an active investor himself.
He is very experienced in Property Trusts.
You can contact him on 55322855. Tell him i referred you as most good Accountants are not taking on new clients.
Richard Taylor | Australia's leading private lender
Simalar to Terry
1) ANZ or St George
2) ANZ or St George as we obtain a higher than normal discount.
3) St George or Adelaide Bank through an excellent MM here in Brisbane. They are good for both PAYG and S/E and Trust are no problems. Also no LMI at all to 76% LVR and paid for by the Bank to 80%. Pioneer for upto 95% Lodoc.
4) St George and RAMS
5) Cant remember the last one we ever did.But mainly it is horses for courses when it comes to each individual client.
Richard Taylor | Australia's leading private lender
Marc
We currently hold under our Company First Home Owners Group Pty Ltd 184 properties in Qld which have been sold under Vendor terms.
Over the 10 years we have offered Vendor Finance here in Qld only 1 client has handed in her keys and we have agreed to sell the property (Currently under Contract in Rockhampton) and give her $30,000 of the increased equity over the last 7 years.
Whilst we have probably had another 3 or 4 who have defaulted and then sold to payout the loan no client has been repossessed by me or my 2 partners.
It is all about communication and we are lucky enough to have 2 employees who do nothing else but regularly correspond with our clients.
Richard Taylor | Australia's leading private lender
Are you sure after yesteday 85% Lodoc will that competitive given the early repayment fees.
Also last time i checked 80% nodoc at less than Bank rates had rather high DEF's.
Richard Taylor | Australia's leading private lender
You can protect shares with options or make extra income through writing options.Theres a lot of different strats
There certainly is. From last recall i think over 20 different protective ways to trade from a simple Call to a Iron Condor.
It is just finding the strategy you are confortable with.
Richard Taylor | Australia's leading private lender
Hi Lisa
Good to hear that you have done your figures at least that makes lenders take you more seriously.
Couple of quick additional points:
1) I wouldnt worry where the income is derived from but would like Simon suggested deposit all of you income into a 100% offset account linked to your PPOR and not your Investment LOC. You can direct repayments from the offset account and can always contra the income at the end of the year .
2) You may well find that the Vendor is prepared to carry a 2nd mortgage on the property which could be for anything between 10-25% depending on the individual deal. If you have the income to support the loan there are lenders who will not be too concerned where the deposit has come from.
Richard Taylor | Australia's leading private lender
Suncorp will do 80% LVR on lodoc or 70% Nodoc so i am confused why the max is 55K.
I would never use the Bank as their service levels and customer relations are a disgrace so I agree with you there.
As Marc mentioned private funds maybe an option slightly more expensive but if the deal stacks up that much then could be well worth it. Last deal we did was around 17-18% but nodoc secured personal loans are not thick on the ground in lender choice.
Richard Taylor | Australia's leading private lender
Linda
It is s specialist development / investment agency based at Clayfield.
As soon as settlement goes in early September through I can give you the name of my Principal who will run the business for me and you are more than welcome to touch base with him and see if he can help you with future business.
Richard Taylor | Australia's leading private lender
Alistair
Sometimes mate you realise in life you are pushing a barrow up hill and it just isnt worth it.
What do they say about taking a horse to water.I think if you search deeply enough you will also see many posts on this forum from people who thought Henry Kaye was the next Messiah.
I am sure she does it for love and not the money.
Richard Taylor | Australia's leading private lender
I am so convinced that things are rising so fast i fogot to buy just an IP but bought a whole real estate agency 310 rentals and all.
Richard Taylor | Australia's leading private lender
Joseph
Hardly a sensible suggestion when 1 party to the loan is a non resident and may require FIRB approval and cannot show evidence of income and the other is part time employed and the existing loan is a fixed rate loan.
I am sure you suggestions are welcomed but vague statements without supporting fact do very little for anyone.
Richard Taylor | Australia's leading private lender
Dependant on the number of units in the block will determine the LVR available.
An 80% can be achieved on block of 4 or more but you will need to finance the 20% plus refurb costs unless you can use a GR loan but you will need to access equity in you rother IP's
Obviously the higher the LVR the higher the rate of interest.
Richard Taylor | Australia's leading private lender
