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Funny many clients have told me that about Mortgage Choice Franchises
Cheers Richard
Ph: 07 3720 1888
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http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
Steven
Was aware that mobius used TMIC but was sure that Tonto had a separate MI. So thats 3 + STG of course.
Cheers Richard
Ph: 07 3720 1888
[email protected]
http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
No not at all.
You can used a weighted arguement and apportion a higher value to one block over another for just that reason.
Recently did a battleaxe block just like that where the back house had view and it was a steep incline.
We took photos of before and after and made a good submission to the ATO on just that point. They listened and agreed.
Cheers Richard
Ph: 07 3720 1888
[email protected]
http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
In Qld we have a 5 day cooling off period and the cost is 0.25% if you terminate on this basis alone.
One simple clause you could put in would be “This offer is valid for 24 hours from the date of xxx or This offer is valid until 5pm on the xxx” being say 24 hours after you sign the contract with the agent.”
That way of the vendor takes too long to think about it you can move on elsewhere.
Cheers Richard
Ph: 07 3720 1888
[email protected]
http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
Gross
Yes
Cheers Richard
Ph: 07 3720 1888
[email protected]
http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
yes Giddo
Cheers Richard
Ph: 07 3720 1888
[email protected]
http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
Terry
My apolgies you are as usual bang on.
Cheers Richard
Ph: 07 3720 1888
[email protected]
http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
Hi Batts
Would be happy to help.
Cheers Richard
Ph: 07 3720 1888
[email protected]
http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
Hellman
There actually 3 + St George now.
Cheers Richard
Ph: 07 3720 1888
[email protected]
http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
Costs are apportioned on the sq metreage area of the individual dwellings as a percentage against the total land area for CGT purposes
Cheers Richard
Ph: 07 3720 1888
[email protected]
http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
phil
Yes wraps in SA are illegal.
Lease Options are the way to go.
Why not PM Xenia Dr X who is in Adelaide and active in this market.
Cheers Richard
Ph: 07 3720 1888
[email protected]
http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
KP
A call option will only work if the developer will accept such instrument which i very much doubt.
From what you state the buyer is unable to purchase and resell it as a vacant block of land so reselling is not an option.
One consideration would be to purchase it in a Pty Ltd name and then you purchase the shares in the company.
As long as the company is not considered “Land Rich” i believe the figure is now $1.1M then you will have no duty to pay on the share transfer as you do on the sale of the property.
You could set up a series of shelf companies and then agree to purchase the shares in each at a given date being after the company signed the purchase contract.
Cheers Richard
Ph: 07 3720 1888
[email protected]
http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
Spoodle
Have done 1 or 2 deals like this.
Firstly have you checked with your broker and asked him to try another MI.
Unless the property is specialised or in an unacceptable post code I am unsure as to why it was declined.
If this does not work then i would suggest that you offer the Vendor say simple interest at say 7% PA over say a 2/3 year term.
That way it is easy to monitor and calculate but bearing in mind you would need to make provision for making repayment of the capital at the end of the term.
Cheers Richard
[email protected]
http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
Carl
I assume you are referring to a situation where your g/f and her mother purchased the property as Tenants in Common as you refer to her 1% split.
If your mother is looking at purchasing out her interest in the property then she will be required to pay stamp duty on the increased value of the share.
I am sure each State varies but in Qld you would only need a letterhead valuation from a local real estate agent and duty would be calculated on this figure. The transfer document would then reflect that her 1% share was being bought out.
Now in saying this is also appears that your g/f wishes to use the available equity in the property.
Assuming that she is no longer a party to the title she would be unable to lend her income to support this additional borrowing. This means that her mother would need to show that she can service the total amount of borrowing on her own.
Ensure that it is is separately structured as you may need to contra the interest payment to ensure that each part can make the appropriate interest claim.
Dependant on the State in whicAs your g/f is on the title with the consent and agreement of her mother they would be able to make application for further borrowing.
Both would be asssessed for serviceability and any other liabilities they have taken into consideration.
As the loan will be for investment purposes ensure that you keep it separate for ease of accounting at the end of the year.
Cheers Richard
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Richard Taylor | Australia's leading private lender
mcubed
Wow before you rush in to start construction i would be checking that you actaully own the space below the unit.
I have done many of these in and around Brissie but on old Qlders. In a unit you will need to check a couple of things:
1) Original Building Unit plan to see what you are actaully buying. You Soliciotr should also help you with this.
2) Any alterations or construction interanlly or externally will require the consent of the Body Corporate. Your Disclosure Statement will tell you who this is and it maybe an idea to make their consent as well as the consent of the other owners a condition of the purchase.In unit dwellings these days you have something called volumetric space in Brisbane which refers to normally the space above and around you but also can refer to space below.
After you have received the consent from the other owners and BC you will need to make a Building Application to BCC for this. You will require a height of 2400mm to make a legal room however as you state storage is an option.
The reason why such a small extension is so expensive is a combination of Professional fees and Council fees and Contributions.
Feel free to call me if you need anything else.
Cheers Richard
[email protected]
http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
On the basis that it is an off the plan property i would assume that it is a private developer you are purchasing from.
Rather than ask the vendor or your financier why not ask you LAWYER.
Not sure anyone here is qualified to give you legal advise in Bulgaria. If he says Yes then just arrange a contract with the your buyer.
Cheers Richard
[email protected]
http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
Overview
LPT managers invest in a portfolio of investment grade commercial real estate to generate high yielding returns for investors,
and along with buying and selling properties in line with their investment strategy.LPTs are viewed as a substitute for direct property investing, with enhanced liquidity. They are the only property funds publicly traded on the ASX, with the first trusts listing in the early 1970s.
Australia’s model for LPTs is a recognised world leader. From less than $5 billion in the early 1990s, the sector reached a market capitalisation of $43.8 billion in August 2002, invested in property assets of $62.6 billion (refer to Chart 3.1 Growth in Property Trusts). The LPT Index is the sixth largest sector on the ASX, accounting for 7.2 percent of the S&P 300 Index. Real estate (LPTs and Developers) is the third largest sector.
In the year to August 2002, LPT’s strongly outperformed the All Ordinaries achieving a total return of 9.9% compared to the All Ordinaries returning -1.2%. This highlights the defensive nature of property as an investment class in what many have considered a volatile year for the sharemarket.
The largest LPT managers are Westfield, Lend Lease, AMP Henderson Global Investors, Macquarie Bank and ING. A leading Australian stockbroker, UBS Warburg, estimates that 50 percent of Australia’s investment-grade real estate is in the hands of LPTs. The quality of these assets is high, with 65 percent of the nation’s regional shopping centres and many of the prime commercial office buildings held in LPTs.
Sector Specific
The LPT sector has become increasingly specialised. For the first two decades LPTs were usually diversified portfolios, both geographically and by property type.Since 1992, all new trust listings have been sector specific, that is, a trust that concentrates on a particular sector of the property market. In December 2001 the sector specific trusts represented 68 percent of the total assets in LPTs.
The rise of the sector specific trusts has been primarily driven by the demand from investors who prefer to choose which sectors they want to invest in. LPTs are represented by retail with $22 billion in assets, followed by commercial office with $11 billion in assets, industrial with $3 billion in assets and hotels with $1 billion in assets.
In the past few years the LPT sector has expanded to include more innovative sector trusts such as the MTM Entertainment Property Trust, Macquarie Leisure Trust and Homemaker Retail Property Trust.
Residential property has yet to appear as a stand alone asset class in Australian property trusts as the yields are lower than commercial property. In North America, however, where the yields are higher, apartment property trusts are more common.
Larger LPTs
In the past few years there has been a trend towards larger LPTs through mergers and acquisitions, which has seen the number of LPTs and the number of fund managers decline.In September 2002, of the 32 LPTs in the ASX 300, 15 had total market capitalisation of more than $1 billion.
Recent examples of mergers include Stockland Group’s takeover of the Advance Property Fund and Armstrong Jones Office and Industrial Funds merging with the Prime Office and Industrial Property Trusts. Both Mirvac and Colonial have merged their sector specific trusts into single diversified trusts.
Reaction to these mergers has usually been positive as there are a number of benefits including improved liquidity, increased management expertise and generally a reduced cost of capital for larger LPTs.
The Outlook
Overall the outlook is for the LPT sector to continue to grow, potentially reaching $60 billion of assets in the next decade. There may also be increased opportunities to invest in funds with some offshore commercial real estate.In the past few years, the global expansion by Australian property managers has included the listing of Westfield America on the ASX in July 1996 and later on the New York Stock Exchange, and the listing in December 1999 of the Lend Lease US Office Trust on the ASX. Macquarie Bank has announced a strategic alliance with a US property company to develop systems and study the US market. Its Macquarie CountryWide Trust currently has investments in both Australia and New Zealand.
Performance
LPTs will distribute at least all of their taxable income to investors annually to meet taxation law requirements, and will typically make distributions to investors quarterly. Managers of LPTs focus on generating returns to maximise distributions to their investors. This means that they will look for investments with a superior income return rather than investing purely for capital growth.According to UBS Warburg, retail has been the strongest performing LPT sector in the last five years – generating total returns of 15.8 percent per annum.
In the year to August 2002, yields from LPTs averaged 7.7 percent – as a result of a diversified sector yield of 7.4 percent, a retail sector yield of 7.6 percent, a commercial office sector yield of 8.3 percent, an industrial sector yield of 8.7 percent and a hotel sector yield of 9.8 percent.
Current listed property trust performance (by individual trust and sector) can be found at:
ASX Leaders
Diversified Trusts
Office Trusts
Retail Trusts
Industrial Trusts
Hotel TrustsGearing
LPTs may use loans from banks and other finance providers to increase the funds they can invest in commercial properties. Borrowing or gearing, as it is commonly known, means that part of the investment is relying on debt.Gearing is usually calculated as the ratio of debt to total assets. On average, LPTs have a gearing of between 20 and 30 percent of total assets and are restricted to a total of 60 percent.
Gearing levels have risen over the past 10 years, reflecting declining inflation in Australia and falls in the yield on 10 year bonds from 12.1 percent to around 5.5 percent. This declining interest rate environment has added to the attraction of debt funding because of the increasing positive gap between the cost of debt and the yields on debt funded property investments.
One consequence of the increased gearing levels is that capital management expertise has become a critical characteristic of good management in the LPT sector, and therefore the majority of LPTs now “hedge†around 50 percent of their debt against changes in interest rates.
How to invest in LPTs
You can buy into LPTs from as little as $1000. In addition, some LPTs may allow you to reinvest distributions via a Dividend Reinvestment Plan (DRP).LPTs can only be bought and sold through a stockbroker once they are listed on the ASX. If it is a new listing of a property trust, you will need to obtain a prospectus from the fund manager.
If you have not used a stockbroker before, your experience is not unusual. The ASX regularly runs information sessions and courses on investing in the share market. It has also produced a guide, Getting Started, that sets out the steps you will follow.
When you buy and sell LPTs you will pay fees to the stockbroker and stamp duty at the rate set in each state for financial transactions. These transaction costs are lower than similar costs incurred by individual investors in direct property.
Annual management fees are payable to the LPT fund manager, where there is an external manager, and can be expressed as a percentage of assets under management.
On average, annual fees are likely to be in the range of 0.3 percent to one percent of assets under management.
Some managers may set a lower base fee with a performance fee payable only if the trust outperforms a specified market benchmark.
Individual Trusts
All Listed Property Trusts (LPTs) that are included in the ASX300 as at end August 2002 have been listed below.Get a stock quote by clicking on the ASX Code!
Listed Property Trust
ASX Code
Fund Type
Fund Size ($M)AMP Diversified Property Trust ADP Diversified $1,234
AMP Office Trust
AOF Office $1,032
AMP Shopping Centre Trust ART Retail $951
AMP Industrial Trust
AIP Industrial $395
Australian Growth Properties
AGH Office $214
BT Office Trust
BTO Office $1,343
Bunnings Warehouse Property Trust
BWP Industrial $320
Centro Properties
CEP Retail $1,471
Colonial First State Property Trust
CFT Diversified $1,350
Commonwealth Office Property Fund
CPA Office $721
Deutsche Diversified Trust
DDF Diversified $1,072
Deutsche Industrial Trust
DIT Industrial $469
Deutsche Office Trust
DOT Office $1,366
Gandel Retail Trust
GAN Retail $1,709
General Property Trust
GPT Diversified $5,228
Grand Hotel Group
GHG Hotel/Tourism $155
ING Industrial Fund
IIF Industrial $941
ING Office Fund
IOF Office $946
Investa Property Group
IPG Office $1,473
IPOH Limited
IPH
Retail $231
Lend Lease US Office Trust
LUO US Office $662
Macquarie CountryWide Trust
MCW Retail $627
Macquarie Goodman Industrial Trust
MGI Industrial $1,073
Macquarie Leisure Trust
MLE Hotel/Tourism $97
Macquarie Office Trust
MOF Office $988
Mirvac Group
MGR
Diversified $2,554
Prime Retail Group
PRX
Diversified $117
Stockland Trust Group
SGP Diversified $3,657
Tyndall Meridian Trust
TMT Diversified $377
Thakral Holdings Group THG Hotel/Tourism $195
Westfield America Trust
WFA US Retail $5,206
Westfield Trust
WFT Retail $6,583Cheers Richard
[email protected]
http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
Carly matt
Xenia was the first one to respond to you within 8 minutes of your post.
Xenia is based in Adelaide and has offered to add you to her email list with details of local investor groups.
You posted a request for information and assistance and from what I can read that’s exactly what you have received.
It is it difficult for anyone to provide specific advice on investing or areas which you should look at so by joining a local investors group you get the feel of what others are doing and can listen to people with specific expertise.
Cheers Richard
[email protected]
http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
Hi onewayup
I have never heard of anything so ridiculous in my life.
If you hold Aussie Citizenship and Residency then arranging finance to 90 or even 95% shouldnt be a problem.
I do many loans for clients from the UK who are Aussies and looking to buy back home.
Feel free to email me and i can give you a few options.
Cheers Richard
[email protected]
http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
Hi meak
Yes to a cetain extent your broker is correct it can be treated as non standard security however in saying that merely means you are unlike to get mortgage insurance on the loan.
Dependant on the post code and as long as the property is located in a major town or city then you should get 80%.
Cheers Richard
[email protected]
http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
