Hi GOM,

It is possible to do 4 units on a single title.  Must be established, not construction or off the plan.  Can be company, trust or personal names.  4 is the max at 80% LVR. Full doc only.

You mention securing to PPOR, but even if you did need to use equity in PPOR I would secure separate loan to PPOR and not cross-collateralise.  You can use equity from any property this way and keep the each property (security) stand-alone.

Lender is Commonwealth Bank, but I would suggest you use a broker who can structure your loans correctly.  Make sure they are fully qualified. Give them your full financial picture and sit down and talk about what you are doing now and where you want to end up, all of your financial goals and ask lots of questions.

Cheers,
Tracey

Hi Wisepearl,

Here is a list of building and pest inpecting companies.  I recently purchased a property too and this is the list I was given.  I ended up using A1 which did a good job and emailed me the reports within 24 hours.

Cheers,
Tracey

 A1 Home & Building Inspections PO Box 185 Kingsway WA 6065
ph: (08) 9278 2794 Structural Building Inspection – $380 inc GST Pest Inspection – $190 inc GSTHowever, if you request both inspections, they will reduce the pest inspection cost to $170 inc GST  Absolute Building Inspections 17 Kitchener Ave Bayswater WA 6053 
ph: 1300 360 835 Building Inspection – $440 inc GST Pest Inspection – $250 inc GSTHowever, if you request both inspections, packaged total comes to $480 inc GST for both. Building Consultancy & Inspections (BHI) By John Firth PO Box 981 Canning Bridge WA 6153
ph: (08) 9474 5720 Building Inspection – $427 inc GSTPest Inspection – $185 inc GST

Hi Act09,

I agree with Richard.  Be careful with your structure.  You may find you have a lot of hoops to jump through when it gets to financing the deal.  Speak with your broker or bank and ask the issues in getting finance in the structure you have decided upon BEFORE you set it up.  Some investors have set up complicated structures only to find out they have made it so much more difficult to get the finance approved or the lender just won't do it at all.  And if you can't get finance – you can't invest.

I don't want to scare you off but you may be limiting yourself if you get too complex.  Just a heads up!

Cheers,
Tracey

<font color=”#000000″>Further to my post from 3 years ago. It amazes me but I am still getting emails requesting the r codes – which is great to see that so many people are going through the forums on propertyinvesting.com to learn more about investing.  To make it easier for everyone and to get the information instantly it is also available on http://www.propertyinvestornetwork.com.au </font>
<font color=”#000000″>It's free to join and there may be some more information on there that is helpful for property investors.I hope this helps.</font>
<font color=”#000000″>Kind Regards,</font>
<font color=”#000000″>Tracey</font>

Hi Magic32,

It really depends on what you can afford. It looks like you have a good disposable income and high borrowing capacity.

If you want to get maximum properties in the short term and make the most of your capital then 95% with LMI is the way to reach your goals sooner.

With a redraw facility you can redraw up to the loan amount only, this does not include the interest repayments but can include any extra repayments you have made onto the principal.

You need to check on this with the broker when you are choosing the loan. Make sure you get what you need.

Regards
Tracey[biggrin]
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Hi Apostle,
As far as I am aware the stamp duty is only payable on the option fee. Unless this has changed in the last 12 months??

Here is the answer I received (over the phone): Stamp duty is payable on the option fee because this is all the contract is worth when stamp duty is payable. When the option is exercised then the stamp duty is payable on the (land) transfer. Makes sense to me.

It is best to take the actual option contract in for them to have a look at because it seems like theres a different answer for every person who answers the phone…
Regards
Tracey

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Hi Luke,
Long time no see. I hope everything is going well for you. As far as I know in WA you have to pay the stamp duty in a flip and you don’t need an agent licence. Best idea would be to contact the Dept of Consumer and Emp. Protection and State Revenue and they should be able to give you advice over the phone. I hope to catch up with you soon.
Cheers
Tracey[biggrin]

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Hi Teeks,
Wrapping is not illegal in WA and yes you will need your credit providers licence. It can take 6-12 weeks to get one. If you have the application already then you know there is a heap of things you need to organise.

You can take the UCCC test on the MIAA website, I think it costs about $110. It is a requirement you have an understanding of the legislation and the test is online. If you need to know more send me an email.
Cheers
Tracey[biggrin]

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Hi Adams25,
Spearwood, Hammy Hill and Bibra Lake are OK but Coolbellup – is there still much potential there?I spent about 2 hours driving around there a couple of days ago and I didn’t like the area at all. I would look around the Kwinana area before Coolbellup. Just an opinion.
Cheers
Tracey[biggrin]

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Hi Peter,
I am assuming he is an Australian Citizen or a Permanent resident and he is returning to Oz. If this is right he can borrow up to 80% as soon as he is working full-time PAYG and not under probation. Of course his wage would have to service the loan.
Regards
Tracey[biggrin]

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