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You will need to get a credit licence and once you have that you can start to advertise, approach brokers, etc
Only if you offer Coded loans over 62 days.
We run a Private Mortgage Fund with over 300M FUM now and there are certainly plenty of deals out there.
Helps of course being on a couple of Aggregators panel though.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi KDL
Are you sure that your lender will allow the Title to be in your sons name with your income being used to show servicing.?
We operate our own wholesale non-resident lending fund and certainly we wouldn’t accept that however in saying that our rate isn’t 6.79%.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Course the hardest bit will be trying to get anyone to lend you money to buy the first property with no initial income.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Solomon
Might need to be quick as we have received an incredible inflow of retail capital over the Xmas period and are considering halting new retail investment for a time.
This coupled with the fact that we were the first Private lender in Australia to launch a traded Bond last year and are being courted by a number of investment houses to go again.Cheers
Richard
(For the purposes of this post i will declare my interest as the CEO of ASCF Ltd)
Richard Taylor | Australia's leading private lender
Need to start making friends with the mortgage administration officers at various lenders and they might give you a heads up.
We spent a lot of money getting to know who is in charge of the sale and where the property will be listed.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Micksta
Merry Xmas to you also and here’s to a successful 2019 all-round.
We finance a lot of SMSF thru our own warehouse lines and the one thing we do find with Burpengary at the moment is the difference between the purchase price and valuation. Many of the valuers I have spoken to recently tell me the good old property marketing firms are still alive and well and the premiums being charged are quite large.
For a SMSF the last thing you want to do is put in additional cash funds (assuming you have access to cash) from your SMSF to support the variance as it will take a long time to even break even.
Given the rate of Tax inside SMSF you have to ask yourself is paying over the odds for the property worth the small initial Tax saving. Remember if you buy a property that is 1 year old you will still get the majority of Depreciation and Capital Allowance claims without the developers/marketers premium.
Personally would be very careful.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
may be beneficial to keep those details out of the application.
But of course would be mortgage fraud not to disclose.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Deepak
Much of a muchness as the majority of lenders service based off a sensitized rate (circa 7-7.25%) on a principal & interest basis irrespective of what you are actually paying or being charged.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Brizza
Certainly on the surface with some restructuring it appears possible however a fair bit of important data missing to provide a more constructive answer.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi PB
Yes purchased dozens of deals over the years that have been MIP.
What is it you are wanting to find out.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi there
I have sent you a PM in regards to such a way.
We do this with a couple of large Chinese groups and it works well for all concerned.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Zac
Thru our Australian AFSL our Retail investors get between 6.25% – 9.09% per annum paid monthly without any involvement and that appears to be about the expected norm. Minimum investment is $20K AUS.
From what I have seen Singapore investors expect a lot more than this.
We are launching a USD Fund in 2019 which our Chinese office will market and that will pay between 5-6% per annum. We cover the hedging cost and they get a monthly return.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Ziv
I think one of the barriers you will come up against with Australians lending abroad (amongst other things) is the rate of return. At 4.5-6% I think you would struggle to find any investor accept the rate.
I am a Director of a licensed Private lender in Australia with $100M + out in the market and we are getting between 12-15% per annum on our 1RM’s and 24%+ on our 2RM’s.
It is strange what seems like a good return in one country is fairly modest in another.
Credit availability in Australia is certainly only going to get tougher and although there is a lot of cash out there capping interest rates, with APRA now monitoring the activity of larger private lenders additional regulation will start to increase returns.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Sean
We run our own Non Resident / Expat lending team so certainly familar with overseas income.
In saying that most lenders do shade overseas income.
Happy to get one of my team to consider the matter but would need more details if you wished to email me.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Evening Ecsom
Yes assuming your SMSF Trust Deed allows you to invest in property there is nothing to stop you doing so but the question is why would you do it.
There is no legal requirement forcing you to keep a % of money in the Fund but again as a Trustee or Director of the Trustee Company and acting responsibily you want to ensure you have cash flow coming in to cover the ongoing costs of the property and SMSF management.
Diversification of Assets is always wise do why not look to take a SMSF loan with an offset account.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Hayden
There are many areas in both Cities i would suggest you look at but depends on both price point and what you are after.
I only ever buy something that i can add value to some way or another to allow me move forward for the next deal.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Brisbane is alive with good value bargains at the moment.
Some great potential development sites or value add on areas.
Cheers
Richard
Richard Taylor | Australia's leading private lender
Hi Bec
Yes i must in 28 years of mortgage broking i think i have only suggested to 1 client they cross collateralise their home loan and that was largely due to a LMI saving.
Some Brokers like to recommend the strategy it as it makes refinancing down the track a lot harder and of course if you don’t refinance the preservation of their income last longer.
In the current climate i think i would run a mile if that was your Brokers recommendation.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
I actually employ someone full time who looks after all the bookeeping, property management, paying council rates, land tax etc as well as my Vendor Finance book.
She has been with me for 12 years and is very well paid but worth every penny.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Lee
Yes we can work off net GST Gross realisation subject to our own valuation.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
