Ok here is a couple of things straight up:

1. You have approach 3 lenders of which 1 has conservative servicing and the other 2 are so so. There are lenders that will give you more money.

2. You may be able to structure your loans in such way to increase your servicing

3. You can do an equity release against the house you currently own to fund…[Read more]

Yes there are but different lenders have different policies around this.

I would need a little more information;

1. Have you drafted the community scheme?
2. Does the development contain resort style facilities?
3. When you say “it has party wall” do you mean that the contract states that your company needs to be the builder for the land?

I…[Read more]

Don’t get me wrong though Macquarie has improved massively over the last few months and they are very easy to to business with.

Macquarie does not have their own DUA at all but is starting to place more and more stuff on their balance sheet.

Macquarie has niches but non-resident lending is not one of them.

It’s hard recommending a lender when you have a tiny piece of the puzzle.

The most ideal portfolio (servicing permitting) would have been to start at CBA and start…[Read more]

Their DUA is still $850,000 but thats not full DUA and sooner or later you will have issues when you go into LMI territory which I see quite often with lenders that don’t have full DUA.

Since he has 5 properties already then it will definitely become an issue if he needs to access MI so AMP’s not the best fit for him.

Boy do I hate capital gains tax. Its pure evil.

Really like the new signatures steve. I think everyone is starting to like the new site.

I had 2 recent scenarios where the client wanted to hold onto all the properties so they obviously didn’t want the presale condition – we wrote both loans with Bankwest and found them to be very pragmatic.

Out of the majors CBA and NAB are the only ones that will consider no presales. ANZ won’t even want to hear about it and Westpac well lets…[Read more]

Ok firstly the real issue with AMP is that they are a securitised lender and they do not have their own DUA. Even if your application ticks all the boxes – the underwriter can still turn around and say “nope not lending you any more money”. I seen this happen to quite strong applications.

Not sure who has advised you that westpac do not accept…[Read more]

Also order your credit file if you haven’t done so already.

Sorry if this is a silly question but is it still unpaid or you have paid it and you are referring to the fact that the default is on your credit file?

If you haven’t paid it then you need to a) pay it off ASAP and b) concurrently talk to them about removing it from your credit file.

Who was the institution (i.e. finance or telco) and how much…[Read more]

I actually like the new site – yes some things need improving but I’m sure it will come with time.

Most lenders will want presales – there are a few lenders that will allow you to not have any presales however in those cases you would need to be able to service the debt without the use of the proposed rental income of the construction. Therefore servicing would need to be very strong.

Hi John,

It doesn’t matter whether you purchase under individual or trust when it comes to servicing.

AMP is actually one of the more generous lenders when it comes to servicing however different lenders treat your overseas income different. Westpac and NAB are definitely superior in this space. CBA is quite handy when it comes to LMI loans but…[Read more]

"negative gear with negative cashflow"? I thought you could only negative gear with positive cashflow? Wait im confused. 

Plenty of lenders will do company titles namely AMP, CBA, ANZ, Dragon and Westpac. An important factor is going to be LVR and postcode.

Also do an equity release against the company title property if possible and have your FIL gift you the funds. Its much cleaner than tying the property up. 

From the sand to the surf – you will love it in the CC. Very laid back and awesome beaches.

I would do a 1 bedder as well but it depends on the area. I had one client do a 3 bedroom 60sqm GF because it was close to the uni and we was just renting out the rooms.

Since the properties are cashflow positive and not costing you anything to hold – then hold them and sell them only if and when another/better opportunity arises. 

A lot of people start flipping their portfolios gradually as they come across really good deals.