Forum Replies Created
Dom
Depends on what you mean by student accomadation.
If you refer to a large Qlder that is zoned accordingly you will probably get 80% LVR but if you mean a multi-unit then you will be probably be limited to 65%.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.Richard Taylor | Australia's leading private lender
Brissie based and happy to offer any advice i can.
As those of you who will have read my past 1500+ posts know i have specialised on creating + cash flow from wrapping and other forms of Vendor Finance for the last 10 years.
Now talking life a little easier.
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.Richard Taylor | Australia's leading private lender
ASB
Mhhh 2004 I am suprised you have not had an audit issue with this todate.
I would suggest you talk immediately to your Accountant or Fin Planner about the joint ownership structure.
Dependant on the figures once the property is sold and your own personal income then certainly an undeducted contribution is worth considering.
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.Richard Taylor | Australia's leading private lender
Simon’s is right it is a glorified mortgage minimisation service which any half decent broker should be able to offer you for free.
If they force the fee agreement issue and try to charge you for a service they didnt provide I would suggest you contact the OFT in your State as i find they they take an interest in this sort of matter.
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.Richard Taylor | Australia's leading private lender
Michael is a good guy and has acted for a lot of my clients.
In factthinking that he owes me a beer next time i am in town.
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.Richard Taylor | Australia's leading private lender
Yes it can be but may incur stamp duty in the particular State.
You maybe better off considering transferring ownership to your Trust if you ae looking at renting the property out and then paying the duty and maximising your new borrowings.
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.Richard Taylor | Australia's leading private lender
Yes it is a common form of financing and as long as the vendor can register a 2nd mortgage then you should have no problems.
Main stumbling block is getting the Vendor to agree to the terms in the first place.
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.Richard Taylor | Australia's leading private lender
Martin
Yes 90% is obtainable on vacant land with a view to constructing a dwelling up however would need to know the zoning of the land and the Post Code.
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.Richard Taylor | Australia's leading private lender
Ross dont want to correct but there are a few things in your post which are actually incorrect:
Super fund tax is a flat 15% – In the case of CGT where an asset has been held for 366 days the Tax is reduced to 2/3rd of the prevailing rate i.e 10%.
Preservation age is currently 55 but this is set to progressively increase for people born after 30th June 1960.
ASB also mentions that he already parts owns a property so we must assume that this investment was made prior to the transitional rules in 1999.
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.Richard Taylor | Australia's leading private lender
Guess it all depends on where it is located.
I paid 3% for selling a couple of units i bought in Benalla, Vic and was very happy at that.
How many other agents in the area and what will you get for your dollars i would be asking.
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.Richard Taylor | Australia's leading private lender
As Simon mentioned a Nodoc / lodoc loan dependant on your financials could be the way to go.
Many lenders that offer such product will restrict their lending dependant on certain postcodes.
Without more ifnormation as to where the location of the property is and other factors relating to your income it is difficult to quote an interest rate or overall product recommentation.
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.Richard Taylor | Australia's leading private lender
Hi nenea
Many lenders restrict themselves to 90% on an IP however other lenders will go to 95% and capitalise the LMI.
It is is unlikely you will get your existing lender to change their policy so i would suggest you look at changing lenders.
Dependant on your circumstances it could be better to maximise yout borrowing against the IP.
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.Richard Taylor | Australia's leading private lender
K
There are many lenders who will lend over 80% LVR on properties with an internal square meterage of over 35 but in saying this it depends on many other factors.
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.Richard Taylor | Australia's leading private lender
Hi Jennifer
Yes that should be doable as long as the Vendor releases his first mortgage when you make application for your new Bank loan.
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.Richard Taylor | Australia's leading private lender
Rav
Probably get max of 70% LVR on a Taxi License.
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.Richard Taylor | Australia's leading private lender
Hi Brian
Firstly welcome to the forum.
+ CF properties can come in many guises:
1) A buy and hold property where the rent is equivilant to the loan repayments (getting more unlikely by the day in this market).
2) A wrap where you buy and then onsale at a higher price and interest rate. The loan installments you receive are higher than the repayments you are making and produce your cash flow.
3) An Option / LTO which is similar to 2) above but has other features.
4) A buy, develop and add value and then rent to produce high cash flow.Each path has positves and negatives and depends solely on your own personal plan for the future.
Feel free to ask any further questions and hopefully we can steer you in the direction you need to travel.
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.Richard Taylor | Australia's leading private lender
Jenny
You would normally do it the other way around.
The Bank would take the first mortgage as this will be a longer term debt and the vendor would take a secured 2nd mortgage.
Cheers
Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner.
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
Gio
I certainly am not getting any kickback whatsover from any referal.
Presumably on the 22A Form the Selling Agent got you to sign it disclosed the kickback or other commission payment they could have received. If not i would have referred the matter to the Qld Law Society and the REIQ.
Cheers
Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner.
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
Hi there
No they do not have a website.
Yes Leonnie has acted for me in over 400 purchase / sales.
Cheers
Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner.
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
I would recommend Leonnie Dixon from CSM in Beenleigh.
Leonnie has acted for me in over 400 property transaction in the mast 12 years and is the best in the business.
Timely and prompt service are her trade marks and all this comes at a competitive price. She has certainly helped many of my clients also and we have never had a complaint.
She can be contacted on 07 3807 2233. Tell her i recommended you.
Cheers
Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner.
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
