Forum Replies Created
Stephen
As Simon has stated why not get the best of both worlds.
I don’t have a client that is paying the standard variable rate because I always try and negotiate a better rate for all of my clients even if it is a 0.25 – 0.5% every little helps.
Anything over $150K and you should start to make some savings and your offset account would save you even more.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Argie
Loans vary from lender to lender and so does the costs of mortgage insurance.
Each lender has a different scale and you will suprised as to the savings with certain lenders.
I guess mortgage insurance is the economic cost of doing business. You can borrow >80% now and cop the premium and get out of the rent race or save and save until you have 20% and prey that prices havent gone up in the meantime.
Just shop around for not only the right loan but also the right mortgage insurance premium.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
No high pressure Salesman at all as most of the members have no in depth knowledge of property investing..
But $5000 from each commission goes to help pay for Kevin Sampe retirement fund.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Terry is right although the lending discretions for most Front End managers is very low and you wouldn’t get far with they can approve.
Most of the bigger loans go up the line for assessment either manually or through online credit scoring.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Would now a lot more details before making a recommentation.
Sometimes not easy to refi half way through a development as the lender looks as though you have miscacluated the figures and blown out on costs.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Sounds to me like the unit might be small in size or unusual in nature because i have never come across any lender that will only go to 70% LVR against the security of a standard size unit.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Think you are talking to the wrong Bank.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Yes i have done one or two. For which State are you referrring too.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Sorry for the delay in replying Westan.
No all of the deals we have done do far have been done at wholesale pricing.
Just that we need to control the properties to avoid poor appraisals.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Solo
It has been a path i have on for around a decade and still own around 6 non start titled blocks of units in Brisbane.
In essense we buy inline and then strata, refurbish and onsell 1 block at a time.
If you can buy the block inline then you will certainly save on Rates and Land Tax and if your intension is to hold and obtain higher yields and Capital Growth then why wouldnt you.
Financing blocks over 4 units is normally classified as a Commercial application and may mean that you have to put in a higher deposit although in saying that we have done blocks of 8 as residential lending..Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Hi there
A bridging loan works on the basis that the lender wlll finance the property you are looking at purchasing and costs and take a mortgage against this property and the property you are selling.
Dependant on the equity level the interest charged can be rolled up into the loan and the debt repaid once the property is sold.
This day and age you would expect to pay a standard interest rate for bridging finance and lenders compete to try and offer such a product especially where there is an end debt.
If you want to put some figures forward I am sure we can assist you further.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
I have done several in the Q100 range and they were not a problem just the LVR needs to be <80%.
Just bear in mind if you purchase such a property you may wish to sell it one day and the number of purchasers with 20% deposit maybe limited.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
No a stamp duty expense is not triggered once a property is subdivided.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Chasd is correct most brokers have arrangements with such lenders.
There are 6 lenders I am aware of who openly lend to FN’s in Texas. The terms vary dependant on whether it is a single family dwelling or an investment property and whether the loan amount is >$50 K or not.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
If you want an alternative talk to Leonnie at Melville McGregor on the Southside on 3807 1522.
They have been my solicitors for over 12 years and have done one or 2 conveyances for me.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Neither HSBC or Citibank offer loans to Foreign Nationals
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Andrea,
In which State will you being doing Installment Contracts?
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Nathan
Slightly concerned that you are looking at offering a LO when you are not fully au fait with the ins and outs of such.
Suggest you read up first as you will need to be able to explain to any potential tenant the pluses and pitfalls.
Unfortunately it is not the quick way to riches and it maybe worth your while to spend some money by sitting down with a Lawyer and going through the legal paperwork.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
I am with APerry he has no idea what he is talking about.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Do you live in NSW also and would it be a standard Real Estate Contract?
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
