What about the online ING account. rates are about 4 to 5%.

Terryw
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Stacking the contract is not illegal. But not disclosing fully to the bank may be. But banks usually only want the front page of the contract. If there is sonething listed abuot special conditons, then they may also request to see what the special conditions are.

I have heard of people making a provision in the contract for extra work or repairs to be carried out. These don’t get done before settlement and the purchaser gets a discount. eg $250,000 with $50,000 discount if new carport is not errected. But you have to be careful, the vendor may just erect that carport to save themselves $50,000.

Terryw
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Carbloke.

It shouldn’t be too difficult finding employment. The securities institute course looks good, and if you had that it should make it easier. A lot of companies employ brokers on commission only, so if you may be able to start doing broking on a part time basis while working elsewhere.

Terryw
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Hi

It would be great if anyone going to these types of talks could provide a brief summary for the rest of us. Please.

Terryw
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I beleive you must be a licenced real estate agent to be a buyers agent. Check with your department of fair trading jsut in case.

Terryw
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Yes that happens. The old too rent reliant trick!
With that sort of equity, even if you don’t serivce.

I haven’t check your serviceability, but even as a last resort you could (probably-depending on the areas) get a No Doc loan to 65% of you current IPs and pay cash for the new one without mortgaging it!

ps I don’t rebate any of my commission.

Terryw
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There is a tax ruling on a trustee or beneficiary of a unit trust renting a property owned by the trust. can’t find the reference at the moment.

If you are using it as an office, you could calim part of the expenses relating to that area used. It doesn’t have to be zoned commercial. It you were renting it out to a third party (eg Doctors surgery etc) , you may have to comply with council requirements.

Terryw
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Dan, it can be done

but it is hard to get someone to sell you an option without offering a high price. I know of someone that purchased a house for about $380,000 a year ago. then a developer came along and offered $1mil in a few years if they gave him an option and allowed DA application etc. They took the offer!

Terryw
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No Job, plus only one source of rental income = too rental reliant. What happens if the property is unoccupied for a while?

To get a low doc, you would have to declare some sort of income. ie he would have to lie.

a 100k deposit on a $300,000 property makes a LVR of 67% so he is close. (needs to factor in closts as well).

Terryw
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Hi

There is RAMS no doc at 7.09% with 65% LVR too.
And, there will be a new no doc loan coming onto the market shortly. 65% LVR at 6.95%pa.

Terryw
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