Well I was thinking it would have to be a contribution not a loan. Because the loan even from myself would mean that any property with a loan in smsf has to be a single asset etc.  As after the contribution the smsf could purchase subdivide entirely with cash. 

I know i posted this on another post but as this is also similar i thought i would pose the question on here as well to see the responses

How do the ato treat SMSF buying a property outright in cash and subdividing. ie (corner block). No borrowings at all.
Is this allowed?

Or for example
making a one off contribution of 150,000 (non cons limit…[Read more]

How do the ato treat SMSF buying a property outright in cash and subdividing. ie (corner block). No borrowings at all.
Is this allowed?

Or for example
making a one off contribution of 150,000 (non cons limit 2012/2013), the contribution would come from a LOC against another asset not owned by smsf. total funds in cash then used to buy and…[Read more]

Would this be a ok setup to buy a house and do a subdivision on.

tennants in common superfund owes 80 percent – personal name or family trust  owns 20 percent 

Property purchase 420
20k stamp duty approx
Superfund pays cash 350
personal contribution of 90k. (Borrowed via LOC against a different asset held in personal name) LOC limit 150k

Buys…[Read more]

Just sign it and or nominee and get your solicitor or conveyancer to nominate which company/trust you select.  That way it's also their fault for any wording errors.   

1-2 days it usually takes for me. Or by the end of the working day if i give all the details correctly first. If you signed the property in and or nominee and haven't created the company/ trust yet you can still buy it you just have to have a page added to your deed:/company information which is like a backdated approval for the company to…[Read more]

The old style Cornicing is prob cement plaster moulds usually nailed/glued on with plaster cement. If you have the plaster with fibers in it you can just start at one end and pull. Might have to use a crowbar or two everyone and then
Unless its a real old hertitage home and then they will be solid molds hand pulled and that would not be fun to…[Read more]

Blue board is a type of compressed cement sheeting. Usually waterproof/ water resistant and used externally on houses for pillars, boxing up fences, bulkheads, putting on before rendering etc.

Theres also villa board, hardiflex, etc. most are brand names whilst they are essentially the same product some have higher levels of water, mould and…[Read more]

What is your reasoning behind wanting a non recourse loan, out of curiosity ?

If they say no to taking photos then I don't get annoyed. I usually set my iPhone to film mode and just casually walk around pretending i am typing a message to my partner about how bad this house is.

Your are there first and foremost to gather as much information to make a business decision which would financially impact you in a negative way if…[Read more]

How do you parents own their own house and land? They might own it in a family trust with corporate trustee which could open some options. But that is assuming a bit too much foresight perhaps.
I have a friend who's parents inherited the grandparents home directly behind their home. The son (my friend) due to his large income and his parents semi…[Read more]

yes, most likely as a LOC type of loan unless you were going to build. Beware though that the bank might continue to value your home at what it was valued at originally without the land being subdivided off. Your home would obviously be worth less now that it has lost some of its land content. But they might not readjust this immediately if you…[Read more]

I would not recommend buying off the plan if your finances are limited. You might find yourself in a situation that you have paid your deposit without the ability to settle on the loan when it comes due. You also have to consider if buying a brand new off the plan unit is financially a good thing. If you think about a chain of money and where does…[Read more]

After council approval for the dwelling is granted, when you apply for the construction loan.
Make sure you get the approval for the construction loan with your valuation on completion done before you make any changes to fixtures and fittings. By this i don't mean you can suddenly say your not putting in the huge wall tiles that you told the…[Read more]

And then save as much money as you can. Put yourself a goal perhaps 50k by 18.

Get a trade, or university/tafe qualification in project management, construction or building etc
Work towards getting a building license. The sooner you get one of the them the better off you will be as a property developer if you know the building and construction side and are licensed to supervise works. Because not only will you be able to do…[Read more]

Lots of banks do 95 % lends. Pretty much all the big 4. I personally wouldn't be using Macquarie bank and perhaps your broker is using them because their commissions are higher.

Im just trying to understand when you say you want 70k in equity and a 280k loan.
if you lend up to 95 % with LMI capped at 2%. And you get your house revalued to what…[Read more]

Hannah998 wrote:

The "on par" property only has a carport, not a two car parking garage with roller doors at either end.
It doesn't have an extra double garage like my place has.
It has a flat tin roof. It doesn't have solar panels or high ceilings. It's 60sqm less living space. The quality of renovations is not even on par. For example, my…[Read more]

Are you selling or keeping the property ?

If you can get hold of the valuation report or at least get your bank manager to let you have a look for a couple minutes to see what properties they used as like sales. I had one valuer use a 2 bed maisonette as a comparison for a 3 bed maisonette and it reduced the valuation by 20k which on a 200k house…[Read more]

Aren't they demolishing this shed ? Seems like a case of " oh I forgot to check the air conditioning worked, the taps worked the hot water service worked and forgot to walk into the shed.