Sorry that was a sweeping answer.

No unless you sign a letter of disclaimer which should be available at the local branch

Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.19%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888

Steve appreciate the referal.

Hopefully i answered Kylie’s questions yesterday.

Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.19%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888

Think you are speaking to the wrong lenders if you are only able to obtain a 70% advance in NZ.

Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.19%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888

aaron

Post slightly confusing to say the least but we can try and help.

legally have no investment properties for taxable purposes.
Yet 70k loan is for a 120 valued house- returns $120

How you can have no IP but have one house renting for $120 (i assume a week).

If you purchase a new house would you keep your old PPOR and rent it out. If so why not look at selling the property to a Trust (copping the Stamp Duty and possible CGT) and using the full amount of finance to pay for the new PPOR and claim a full tax deduction on the rental and have no loan on your new PPOR.

That would save on any selling costs as well as giving you some tax deductions.

Difficult to advise you when to purchase another property as there are a few points above which need clarification. In saying all of this always pay off loans where the interest in not tax deductible.

If you want to give us more information we can make a more valued response.

Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.19%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888

didi

Don’t feel silly it happens to a lot of clients.

Defaults are registered for a variety of reasons with the fact you didnt receive the bill or your name being on the account amongst the most common.

Forget you Bank they will have no idea and will give you the old 5 year spiel but thankfully this day and age the market is a bit bigger than the Commonwealth Bank.

As Derek suggested contact a Broker and with the amount of deposit you have finding a loan at the right rate and conditions shouldn’t be too hard. Only thing i would suggest is pay the bills and get them out of the way as they will come back to haunt you.

Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.19%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888

The property was advertised on Ebay and purchased by a Brisbane Dentist for $11000 USD.

Regretfully the property advertised and the property purchased were 2 different properties. The purchaser did not visit the property or did he engage the services of someone to inspect the property on his behalf.

The Vendor agreed to renovate the property for a further $7000 USD but after parting with his money found out the that the Vendor has shot through with his money leaving him owning a unliveable property in the middle of the hood area.

(funny i have heard this before from another client who was dealing with an Australia Investment outfit who promised the same)

Moral of the story is if looks to good to be true then it probably is and irrespective what the purchase price is associate yourself with people who have experience in that area you are looking to invest. Undertake your own Due Diligience and use a Buyers Agent or someone has been to the area and owns property there.

Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.19%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888

KP

The choice of lenders and products is a lot greater for locals and citizens.

Limited FN lenders out there.

Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.19%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888

Hi there

Many people have raised the same question and i guess there is no exact answer.

There is no good time to start full time investing and you will always find reasons not too so make sure you are confident in your own ability and have the resources set up to make a go of it.

Factor in time delays, cost blow outs and longer than expected holidng costs. Remember you will be dealing with Tradesman and Councils who are notorious for not sticking to a timetable.

On the finance side i would suggest you try and set this in place before you make the leap. I have a client here in Brisbane I am seeing tomorrow who has done as you are proposing. He has handed in his employment notice but not got in place the finance or the structure for what he intends to do.

What i would suggest is that after you have decided what structure you will use then register an ABN as quickly as you can so to avoid potential pitfalls down the track.

Check with a independant mortgage broker before you call it a day as it could scupper your plans entirely if you have not made arrangements for funding.

Certainly once you have a track records Commercial Funding opportunities will exist dependant on the size of your development deals however you are normally charged a slightly higher rate of interest and maybe a higher application fee.

Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.19%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888

Hi FHB

You don’t mention whether you are a Australian Citizen or a British Citizen so we will assume the former otherwise you will also need to apply for FIRB Approval which can take 6-8 weeks.

With regards to your Finance make sure your lender understands that you are in the UK as many lenders and Mortgage Insurers will only go to 80% LVR. We have many clients in the UK so use lenders that are familar with Overseas borrowers lending and go to 95% for our investor clients.

Whilst your loan can be approved within the Finance period usually 14 days you maybe wish to extend this to ensure that your Solicitor or the Bank have sent you Letter of Offer and Mortgage Documents as you will want to read these prior to going Unconditional.

In addition in the UK you maybe required to have the documents witnessed at the Australian High Commission which is in London and have a 100 point check completed with a Correspondant Bank in the UK. This may also take time.

I have clients who have returned all their Mortgage Documents from the UK after getting them witnessed only to find the Witness missed 1 Authority and i have had to send them back. Settlement maybe extended but the Vendor may look to charge penalty interest so make sure you deal with someone who is well versed in financing overseas residents.

There is a big difference between lenders.

Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.19%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888

Yes and she throws in an ASIC spokesman to come along for free.

Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.19%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888