Robert

I have copied the post from PC

The value of the offset account is underrated, particularly with a high balance fund with cash in the fund at settlement, this can quickly turn your property into positive gearing by reducing your loan interest. Powerful calculation in my opinion.

From the list you have provided (which captures all), each lender has different servicing and LVR as you mentioned. St George/Bom offers 70% LVR with 10% liquidity and tough servicing. Of course we are discussing residential.

AMP has just come back into the market and are feeling the industry once more, their rate is @ 5.87% and require a statement of advice with the loan so please factor that in to the cost of the purchase. Tough servicing to, so not recommended. BOQ does 80% as does Bendigo.

Bank Australia is the old Bank Mecu, they are quite small when it comes to the SMSF market and the SMSF Loan product was introduced by some ex Big Sky staff that transferred across. They do 80 with restrictions. Good guys based in Kew Melbourne.

Big Sky is the pick of the bunch, however their rate has increased this week – due to their off the plan niche and the amount of loans coming from our brokers!

They service inside the SMSF and offer 80% for off the plan and established and also have the offset so your list is right. We are doing a significant amount of business with Big Sky at the moment. With Big Sky – they require a financial advice certificate which is almost like a statement of advice, no planners will sign off on it without $$$, so be sure to be aware of this. Luckily, I can sign it safely, but can cause surprises for punters and brokers alike.

Macquarie, Liberty, Resimac do 80% LVR however no offset. Both Macquarie and Resimac require a min balance of $200k.

To my knowledge their are no others. Great list Robert – there is a list on our site to. Be sure to get the bare trust sorted too.

Cheers Ivan

Steve – Thanks for the post.

No offence but in posting this – do you have an association with them? if yes, I think you should disclose this, its unusual for you to pop open a thread with a post like this? please take this constructively.

My firm has been sourcing finance for US property purchases for over two years without issue. A number of people on this forum have used this successfully across a number of lenders. Loans, LLC and property purchases without visiting the US….

Financing has been pretty easy, you don’t need to visit the states and we can set up an LLC and have a bank account in 2 weeks with an EIN. Finance can be pretty cheap for both individuals and SMSFs.

We do pre-approvals through one of the lenders on the spot (we use their system) based on geographical location and zip code – some areas are tougher than others as you can imagine.

I’m sorry but the attached post is ol’news in my opinion.

Cheers Ivan

What makes you think it will be worth a lot more Worm?

Cheers Ivan

Getting away from the snow bro?

Coming to Mel at all? if yes, drop by for a pivo.

I will be in the states late april early may, however not in Ohio, hope business is killing it for you.

Cheers Ivan

Ringwood – good luck and look for a heavy pricetag – Ringwood has exploded in last 3 years for the following reasons:
1. Costco
2. Shopping centre expansion
3. Eastlink – infrastructure
4. Chinese investment – the chinese have been buying land here to redevelop close to schools – 900sqm blocks are going for around a million

Better places to go but depends on the extent of your reno

Cheers Ivan

Gurtofen

Most of stsevs reply’s are covered in my posts here https://propertychat.com.au/community/threads/passive-income-fund-usa-commercial-property-steve-mcknight.7489/page-2 go to post 24 and 30 – as I say, its simple due diligence, i’d prefer if you contact the fund manager direct, however you are encouraging discussion of accounting principles on a public board which is fine and Steve has provided his views as you have. Please remember its a managed investment scheme regulated by corp law – if the accounts are misstated then the auditors are in deep shit as are the directors. I have seen a heap of these over the last 18 years of investment management and its probably too early to tell here. Like I said elsewhere, currency is hard to predict – derivative overlay is a effective stratgey for most managed funds, maybe steve et al will continue to persue this with the AUD v USD coming down to $0.60-).65 in coming months.

Cheers to all Ivan

Did your conveyancer request a extension of settlement without penalty pre settlement date?

Hi Jo – I suggest (if you have not) to start with a mortgage broker. Most mortgage brokers are property focused and will provide you with the answer to the first key question of how much you can borrow?

From there – you can ask the broker all the questions you need to know and get an objective answer, I am not convinced that a ‘financial advisor’ will provide you with an unbiased opinion. I could be wrong.

Answer the first question – how much can I borrow? If you are no where near a mortgage broker, no big deal, you can do it by skype phone email etc….all good

Cheers Ivan

$2600 plus annual sub – for a mortgage broker you may want to check if your aggregator has a discount. RP Data is not great for apartments….

Yes I do – lived in the states for 2 years and made a few property purchases while I was away, those investments were extremely successful with 2 in glen waverley and one in hawthorn in melbourne. Of course, I had people to assist me with the negotiation as both were off market – I did know the agents which assisted with the off market purchase.

If your looking at apt in sydney – is this for investment or future PPOR? I would not buy an apartment in sydney in most areas and may choose brissie or melbourne and look for 4.5-5% yield in melbourne and higher in sydney.

What are you looking for in an apartment?

Cheers Ivan