You don’t need to attend settlement.

You do need however to get the building and pest inspection done asap as most contracts only allow 5 working days for this (I’m thinking Qld) although most Real Estate Agents should learn to allow 10 working days as this is more realistic. Generally speaking under the Finance Clause you “Must Make every…[Read more]

Same here I have to agree with Richard on the easy part. Can be a relatively straight forward process though I believe we half somewhere around 6 or 7 lenders who will do N.Z. Property all differently and all at different costs.

The best thing is for a broker to assess the deal and work on it from there.

Stuart Milne
Non-Conforming…[Read more]

FHB – Funny thing Comparables. I am now wondering how the Valuer in Cairns who did a Val for one of my clients managed to ignore the Comparables in the same complex and street within the last six months in favour of the ones older than 6 months and not even in the same suburb?

Then again what about the Valuer who used words to the effect of he…[Read more]

I have to agree with Richard we can get 80% and in very limited circumstances even more on these types of properties through a mainstream funder. They do require previous experience in property ownership and there’s a few other guidlines I was under the impression the rules in relation to this were that they had to be over 38m2 perhaps I need to…[Read more]

I have two houses there and would recomend it. I gained 23% Capital growth on both of mine last year which made me very very happy!

If you need any tips or contacts up there let me know, I’ll be glad to help…

Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
stuartm@readymortgages.com.au
Mob: 0404 056 055

I have always been a fan of Everton Hills or alternately the Samford Valley. There’s nothing like acreage so close to the CBD…

Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
stuartm@readymortgages.com.au
Mob: 0404 056 055

Look at “The Recession We Had To Have”…

Rental Prices increased as did interest rates but there were still plenty of investors lining up to buy properties…

One thing about residential property is people always need it. That meas if Rates do go sky high then it aint all bad as people will still wanna lease your hut.

Relax fella keep an eye…[Read more]

I don’t see the point in paying LMI but if you like we have access to 6.69% fixed for 3 or 5 years across 1 loan or all of your portfolio it’s up to you with an LMI premium if that’s more your thing?

It is entirely up to you though. Personally I don’t see the point in paying the premium as in most cases it cannot be capitalised and has to be…[Read more]

O.K. Low Doc are available at 80% from 6.99 per annum (Comparison 7.09 on $300k over 30) 3 years fixed rate (Must have held ABN for 2 YEARS though) No LMI payable either, but you must declare an income.

No Doc Comparison Rates from 6.97% based on $300k over 30yrs.

In all instances this is general advice only and not intended to be taken or…[Read more]

I now have to question the logic of spending the money getting the draftwork done along with the cost of the D.A. Application?

Perhaps I missed something somewhere along the lines, but I would think the money would be better spent on the new I.P.?

If I did miss something could you please explain it to me?

If on the other hand the owner was to…[Read more]

Just a quick note here: In Queensland and I would think everywhere else as well the Pest Controllers are not able to use insecticides which are as strong as you can buy in the shops due to workplace health and safety laws. Try them first but if the situation persists work it oyurself in conjunction with them. Set baits and spray. Ask if they…[Read more]

Do what I did: Change your Apointment to act with them – Nil expenditure without your permission. Yes you have to answer that call at 0330 and yes they know what time it is believe me.

Yes you have to get your plumber out of bed at that time and he will charge you top dollar for the opportunity anyway get used it, life still rolls on (unless…[Read more]

Hmmm young singles…

Great target market. I would be working on the premise that they could be in need of white goods, and definitely a microwave?

Love the concept though and yes you probably would get slightly higher than average rental return on your property especially if you instructed the Agent to charge the higher rental and to…[Read more]

For taxation reasons and to minimise the cost of your accountants time and keeping him happy I would suggest having a split put in the loan otherwise he will have to calculate the amount of interest paid on your PPOR loan portion and the amount paid for the investment. It also simplifies things, Doesn’t cost anymore to do when taking the money…[Read more]

Without wanting to suggest anything as I don’t know your financial position I can give genral advice only. The firast thing I would do is speak with someone such as Cata and look into seeting up a trust structure which suited my financial needs, wants and goals. Then I would look at taking on a mixed portfolio of investments such as a house, a…[Read more]

It depends on the D.A. which has been obtained for the block. It is generally of most value when selling the block to someone who wishes to develop it, but there’s no harm in trying I for one will never die wondering thats for sure.

Speak with a Broker when doing the re-fi and they should be able to get you close to the money you need, if they…[Read more]

Pro’s – easy application easy money. Easier for the broker for the same commission thats why they like them so much….

Cons – The ATO has the power to walk into ANY lender at any given time and demand to audit files at random eg; low or no doc loan files. If you apply for a low doc loan and puff or pad you income and the ATO audit that Lender…[Read more]

Valuers will assess and make their remarks and Valuations along those lines, but it is still a vacant block of dirt at the end of the day. Doesn’t mean you can’t use it for equity though.

It makes no real difference if it is worth $150k and only owing $50k to the bank it still has $100k equity same as a house.

Stuart Milne
Non-Conforming…[Read more]

You need a new accountant. And a corporate entity. You should be running these through a company and claiming them as INCOME. You can do that if you own the property for 12months or less. If it’s a line ball decision the tax office will generally run with income anyway. Don’t take my word for it check it out with the ATO.

Look into it this is…[Read more]

The costs are all tax deductible, the difference with using a line of credit is your minimum payments are all interest only and once you have paid it out you can redraw on it as in most cases they leave the account open for you. It will give you an extra deduction i.e; interest to claim.

This is only my understanding and is not intended to be…[Read more]