Forum Replies Created
Just to clarify unless your Mortgage Broker is also a licensed Financial Planner he certainly cannot be making any investment recommendations property or not.
A Broker who is not a Financial Planner can discuss a Credit Contract and make suitable lending suggestions however not all Brokers are the same.
Ensure your Broker has bought an IP or three and is not still out there battling to pay off his PPOR.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Desability
I am sure your Broker will explain the strategy he is putting together for you and as long as he is not cross collateralising the 2 securities well all good.
On a different tack what sort of investment are you making for under 100k?
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Yours in Finance
Richard Taylor | Australia's leading private lender
Wilko has outlined some of the strategies we use but there are more.
As i say matter of working the numbers and spreading your investments.
I own 98% of my properties in a single State and you can imagine what my Land Tax Bill is.
I have seen so many client who have 3 properties in a single state and never consider LT.
All about strategising the plan to move forward.
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Yours in Finance
Richard Taylor | Australia's leading private lender
As Jamie mentioned Yes you can but it it long as it is short.
Can't see any real benefit other than possibly some easier Accounting.
No added tax benefit at all.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Yes and I am sure their are other Australians in the same boat.
Definitely take Jay up on his offer.
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Yours in Finance
Richard Taylor | Australia's leading private lender
No need to be corrected Jamie you will NOT find + cash flow properties in Melbourne itself.
Starting to see a few more in Brisbane but certainly not on every street corner and you have to be creative.
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Yours in Finance
Richard Taylor | Australia's leading private lender
MI very unlikely to be able to invest directly to get positive cash flow more a matter of putting the bricks together to create it over time.
150K passive income (assuming no interest expenses) is going to take a while but absolutely no reason with the right mix of property and strategy whilst it can't be achieved.
Have a read of my API interview and you will see what can be done (more than happy to email you a copy of you don't but the magazine).
Also be patient, we work with clients who have taken 5-7 years to get there and are still often in the accumulation phase of buying.
Rome wasn't built in a day so set a goal and stick to it.
Finally whatever anyone tells you capital growth alone will not buy your groceries you need cash flow.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
See what the Broker has to say and post his response to your questions here.
If the consensus is he is looking after you then i am sure it won't be a problem.
Just make sure he owns an IP or 3 otherwise is hardly going to be best placed to offer you suitable advice for your circumstances.
if not you can re-assess your team of Professionals.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi TNG
Don't go down to Canberra very often but do travel to Melbourne / Sydney to run investor presentations.
Other than than be happy to catch up when you are up in Brisbane.
Currently overseas until Thursday but if you wanted to give me a buzz in the office end of this week / start of next be more than happy to have a chat over the phone to start with.
Feel free to have a look at our website in the meantime.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Mhhh sorry to hear this.
As it was an overseas post you might be better off placing the post in the "overseas forum" as you may get a better reponse.
Hope things work out ok.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Remember be very careful buying in Brisbane and then trying to build a granny flat or converting it to a multi income style property as it is actually illegal in Brisbane City Council governed suburbs.
Must admit there are a few Councils who have now embrassed the multi occupation and these are proving very popular with our investors.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Have to agree with SNM i am not convinced that the inner suburbs of both Sydney and Melbourne have not stopped to take a breather for a while whilst in Brisbane quality suburbs are really starting to pick and we are finding demand for our BA service in and around the inner 7-12km CBD radius to be a record levels.
In many cases we are finding that we are making offers on behalf of clients and are competiting against multiple other offers not just one or two.
Has to be good generally for the investor over the long term and i know which State i would choose between the 2 at the moment.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Brian
Installment Contracts cannot be done in SA due to the State legislation.
If you intend to offer Deposit Finance you will need to hold a Credit License rather than be an authorised representative of a License Holder.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Loved every minute of it especially BC.
Will definitely be going back soon.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Spencer whilst I am currently in the UK this is a Australian Property Forum.
You would better off posting this question on the 'The Tribe' or similar.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Paul
Always come down for both.
My wife and in-laws were born and bred in Merewether.
Cheers
Richard
Richard Taylor | Australia's leading private lender
Love the way you put it Freckle you are so so right.
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Yours in Finance
Richard Taylor | Australia's leading private lender
Sbav I think you will find that legislation changes imposed under NCCP will make Steve's Wrap pack out of date.
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Yours in Finance
Richard Taylor | Australia's leading private lender
I would also ensure your Banker structures the loan in such a manner to enable you to buy another IP when you want.
There are a couple of products that might let you have your cake and eat it at the same time.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Alan is a great guy but runs a full time Buyers Agency out of Gosford.
Not sure whether he would have much time up his sleeve to offer free mentoring.
I will be down in Merewether in the next month or two so if the times match up be more than happy to sit down over coffee.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
