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Jen what is you are looking for and why do they seem so awesome ?
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Richard Taylor | Australia's leading private lender
In saying that the product is not particularly flexible so after 5 years you may well be paying P & I repayments.
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Richard Taylor | Australia's leading private lender
Personally i like Belmont, New Lambton or Newcastle City itself.
Just sold a development site in Merewether which i just didn't have time to develop but that is another great suburb.
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Richard Taylor | Australia's leading private lender
There are number of complicated and technical issues here.
Yes the OSR will expect duty on an assessed market value and yes if your mother is likely to be on receipt of a centrelink pension then the assumed total sale amount will need to be assessed.
Definitely one not to be answered on a forum but time for some specific professional advice.
Could save you and her a reasonable sum going forward.
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Richard Taylor | Australia's leading private lender
Agree Mandy so often the management is as good as the person doing it and when they move on the service levels drop.
I gave up 9 years looking for a number of property managers around Brisbane to manage my portfolio and ended up hiring a lady full time.
Sure I know I could do it for half the price that what I pay her but the peace of mind is well worth it and all the little extras she does makes a massive difference to me and my workload.
Wow betide any of my tenants who misbehave or even worse get a day behind on their rent.
She has teeth that makes those on my pet boxer look quite blunt.
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Richard Taylor | Australia's leading private lender
I agree with Terry and am at loss why you are not using an experienced Solicitor in this matter.
Getting poor advice may lead to a costly mistake.
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Richard Taylor | Australia's leading private lender
Hi Sam
Firstly welcome to the forum and I hope you enjoy your time with us.
I won't repeat what I have just written in response to a similar post on the same forum about another mob promoting the same concept as you can read my thoughts on that.
Again just ask them why they don't ever recommend 2nd hand property In their positive cash flow push.
Sure we recommend newish property and even new property where a real estate agent is involved.
From someone who built his portfolio on income over 18 odd years trust me you can't live off capital growth.
That will come but your prime focus needs to be income producing property. Capital Growth doesn't help pay the loan back when interest rates start to increase.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Steve
Sounds to me like another one stop marketing shop and trust me we have enough of them in SE Qld
I usually say to our clients ask them do they recommend property that is 6 months old or being sold thru a Real Estate agent and see what they say.
That way they can't pull the Tax Credit card out of the hat as the difference in Tax claims for 39.5 years is no different than it is to 40 years over the big picture.
My business partner and I source a lot of property for our forum clients but never recommend a property that is not being sold by a real estate agent unless we are dealer with Vendor direct who is not a developer.
To me we are transparent about what we charge our clients and I guess that is why they keep coming back.
Had a forum client this week who had been along to one of these seminars and the presenters never told the audience when you sell the property the Cost Base for CGT purposes has to be reduced by the full Capital Allowance claim you have made since you purchased the property. Talk about give it on one hand and take it back on the other.
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Richard Taylor | Australia's leading private lender
Hi Jeff
Sure sounds. I away working in Fiji until Tuesday but will be back on the office Wednesday morning onwards.
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Richard Taylor | Australia's leading private lender
Hi Miz
Yes if you are saying at the time of purchasing your 1st IP you set up a separate sub loan and drew down the funds for the part deposit etc then Yes the interest would be deductible.
It is the purpose of the funds and not the security used which is the defining fact.
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Richard Taylor | Australia's leading private lender
Heh that makes it almost a Quorum !!!
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Richard Taylor | Australia's leading private lender
Agree with Eric if you are comfortable with the Professionalism of the team you are working with makes no difference if you are overseas or inter state.
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Richard Taylor | Australia's leading private lender
Yes totally agree valuation is based on NAI.
There are normally 3 methods of calculating a value which gives a balanced approach.
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Richard Taylor | Australia's leading private lender
Niccy i am assuming you own the property solely ?
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Richard Taylor | Australia's leading private lender
No wouldn't be a problem on a non insured loan.
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Richard Taylor | Australia's leading private lender
Ivan there is no valuation they are all cash purchases.
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Richard Taylor | Australia's leading private lender
What is the Gross Annual Rent.
Com Properties are valued based on their rent return.
Does the Tenant cover all of the out goings ?
A few points to give you an better understanding of how to value it.
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Richard Taylor | Australia's leading private lender
Sat in my Solicitors office only last week signing a Contract when he told me the young Chinese lady sitting in reception had just bought 28 properties off the plan in Brisbane in 1 go.
There is no shortage of buyers up here at the moment and the activity is manic.
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Richard Taylor | Australia's leading private lender
Jane, you might want to be double checking CBA credit policy come Jan 1 2014.
No other lenders will lend on a property that small at a sensible rate.
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Richard Taylor | Australia's leading private lender
Hi Magic
It all depends on how long you had been doing them for.
Done many a deal where lenders have taken the combined income of both if we can demonstrate consistancy of employment.
A Group Certificate / Payment Summary works wonders.
Hope this helps.
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Yours in Finance
Richard Taylor | Australia's leading private lender
