brmiau wrote:
We have $240k left on our mortgage and the property is worth $440k. 
 

1. Presuming your going for an 80% equity release – you have $112,000  usable equity –and this is based on the bank valuing your property at $440,000..

brmiau wrote:
 Most properties I've looked at are between $75-$130k so with 10% plus stamp duty so we…[Read more]

Possible.

But you want a mixture of CF+ and good CG properties, as the CG properties funds the equity and CF takes care of the serviceability.
With your current cash, how many can you buy with an 10% deposit + stamp duty— presuming none of the properties goes up in value in the next 3 years. 

Sit down and look at your financial and where you…[Read more]

Agree; most houses built over 30 years ago will have some form of asbestos. Out of 1000's of  application i have only probably seen 1-2 bank valuation where the asbestos has caused some grief and this is because the property was under going major structural renovations and the funds/revalue was required as part of the "As if  completed…[Read more]

CBA is charging $95 once off too "slow" down the number of application that receive for the switch. CBA being one of the largest lender with a massive customer base- you can imagine the number of calls/request they would get if it's free to switch

TheFinanceShop wrote:
Why do you need to buy 10 properties in 1 year or however many years? Focus on quality of product (even cheaper properties) not quantity. 

^ Sage advice. Quality over quantity – it's not a race lol.

Regarding buying x number of properties in a short period of time, it's only possible with a massive amount of equity…[Read more]

For Sydney, We refer our clients to D and L Partners ( David Lim); great property accountant and experienced in business accountanting as well as trust. 

http://dandlpartners.com.au/index.htm — Office: (02) 8958 5093

Regards 

Approach a local broker and ask them if they are wiling to take you up as a mentee …like any business it's very difficult in the first 12-24 month, but if you got the heart and passion for it the money will come.

Trust won't improve your borrowing capacity. It however provides asset protection and a possible tax efficient method to mange your taxable income( 2 main benefit of a family trust).

Current loan – $300,000
Equity loan – $100,000

New loan ( 80% of purchase price $400,0000- presuming we are avoiding LMI ) – $320,000

So total loan = 300k + 100K + 320K = $720,000
—-

1. Yes you can have the new loan with a different bank
2. You have access to $100,000 equity, and since the new loan is only $320,000- your using $80,000 of the…[Read more]

Your file is not as simple as a yes or no….
I suggest you sit down with a broker or a banker and go over your situation… not trying to be bias , but a broker will def be a better option as your husband is self employed and has a credit default, so your  file may not sit well with a few traditional banks…

Regarding revalue- that's fine, as…[Read more]

I always suggest my mentee to use Kaplan education. They also offer a face to face training – All states.

As Tom mentioned, MFAA has a list of preferred training providers on their website as well. 

Yes i would consider that as internal renovations. 

Not all rooms and renovations require council approval, especially internal renovations; simply give your council a call or flick them an email and they will let you know if that room requires approval or not, and the requirements.

Certificate of title.

You can order one online for $0-14 depending which state.

^ adding on..set up new loan/purchase as interest in advance to absorb most if not all of the CGT 

1. Is there enough time for me to get my loan approved before 2nd july?

Depends on how complexity and situation + the chosen lender

2. Can i use conditional loan to purchase the property? has anyone purchased property like that before?

I'm presuming your mean a conditional pre-approval?? if so…yes you can.

3. if i pay 10% deposit on the day…[Read more]

Pop Jamie an email and he will sort you out.

Doesn't hurt to get a personalized  expert opinion.

Because you don't have 2 years worth of docs/history- most small business fail within the first 1-2 years. 
Some banks like St George, Westpac and credits unions may accept 1 years ABN as full doc but it will depend on your company's structure and industry – but really case by case.

LVR needs to be under 85%…preferably under 80% ( as only one lender will go to 85% on 1 years ABN without charging you too much)

Was it ever rented out/tenanted? if so then you will be able to claim the expense ( as long it haven't been untenanted for a long period of time).
 However if it's never been tenanted since you bought the place then it's NEVER been "profit/income producing".