Hi Nathan

I assume that the first property you are looking to purchase is an IP rather than a PPOR and if you intend to renovate and onsell you are away of the costs in doing so and the relevant taxes payable.

I also assume that you have established the entity in which you intend to purchase these properties i.e Pty Ltd Company / Trust.

If you intend to sell within a few months then you maybe better off to consider a P & I loan rather than an IO loan as the LMI will be cheaper and if you are borrowing a high LVR it will make a few $$$ difference.

In saying this you need to get your broker to check out the DEF or early repayment costs charged by many institutions for paying out the loan which includes variable rate loan products.

If you intend to only do 1 property at a time then try and avoid LMI by putting down a higher deposit as whilst it is a cost of borrowing if you can avoid paying it then all well and good.

For multiple properties with a limited deposit you will need to try and obtain a high LVR 95% + on all of the properties and see whether the LMI can be capitilised to reduce your upfront costs.

Add value to the properties means that you can get them revalued and increase your borrowing in order to provide further deposits for the next couple of deals.

Start slowly and your portfolio will grow. Patience is a virtue as they say and there is no reason why you cannot end up with a dozen or so unencumbered properties in 5-7 years time structured properly.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.

AB

I agree with SOTF never pay for such advice when a good MB will do it for nothing for you.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.

Hi Jamie

Let me know if you got your answers as being a Brisbane based operation we are fully upto date with what they have to offer.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.

There are numerous aggregators to choice from so ensure that you do your research prior to committing yourself.

Check things like the level of support they offer as well as whether they or you own the clients and subsequently the commission trail.

Ask them if they have a minumim level of business required to write each month and whether they provide you with training for MIAA compliance.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.

As always Terry has pointed out the benefits of an Int only loan with a 100% offset.

With some of the honeymoon products the rate of interest reverts to the standard variable rate for a period of years and if you switch loans to another product within the Banks range you are charged.

You should be able to obtain both a permanently low rate of interest together with a fee free 100% offset account.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.

G

Just remember that each and every lender has its own serviceability scales and why you may not qualify with one lender you may find that with another you bolt in.

This day and age most good brokers can negotiate lodoc / nodoc loans at competitive interest rates although you may find that this type of loan product is not required.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.

Nothing to stop you approaching them but same story you won’t find a UK Lender take an Australian property as security.

I still have a couple of UK loans but they are all on Uk properties.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.

I would never confess to being a Guru as i believe who ever you are you are always learning as the market is ever changing in both lending and cash flow strategies.

In saying this adopting + cash flow i was enable to retire at 39 although after 2 years of being retired returned to set up my own business in both lending and financial planning with an objective to assisting other clients in acheiving total financial independance.

Working from home and being financial independant means you dont have the pressures of other small businesses in having to generate a regular cash flow and can take more time in assisting clients set up their structures and correspond with them about their future goals.

Email is a wonderful tool and has certainly helped many brokers correspond with their clients all over the World. Yes many of my clients are based overseas.

Whilst i will be on holiday for the next 4 weeks I will still be working and checking my emails and be happy to answer any questions you may have.

Good luck in acheiving your future property goals.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.

Must admit you are right if all your MB does is put you in touch with a Bank rep then ditch him.

I would like to think that i achieve what my clients require whether it be a particular product or features a higher loan amount and lower interest rate.

I guess it is like anything each area of business has those who like to sit back and wait for the business to come to them and others like to be pro-active and act on their clients behalf.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.

Yes if they are willing to offer the security of her business associates property then maybe a land loan secured against the block and a line of credit secured against the home.

Best of both world as you would have access to the funds when you needed them through a LOC although the land will still be mortgaged.

Email me if you need any further help on this one as it appears a straight forward deal.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.