Property Investment using equity - who to speak to?

Hi all, just came across your forum and am blown away with the insight and helpful advice from all the posters.

In a way, I feel like a tourist in a foreign city and hoping if someone can point me in the right direction.

My current situation, own 1 IP + the home that we live in. Both homes have substantial equity, especially our home which we live. Currently, wife is at home with the bubs and I am working working full-time.

Recently attended a Custodian Wealth seminar, and had a meeting with one of their consultants. We are looking at purchasing our 2nd IP, and I liked the sound of their strategy/tax savings strategy - buying in high growth forecasted areas..etc I like the sounds of their one-stop shop, and for someone who is relatively green when it comes to this stuff is quite appealing even though we will pay them 3% for the privilege on top of the purchase price (which according to them is at bank valuation so you're not "overpaying").

Now my question is this, what are my alternatives to Custodian? Who would I need to speak to who can help with finance, using equity in existing properties to purchase a 2nd P.I with no deposit - also able to provide tax advice to minimise my tax and pay down our home which we live in?

Now I know this service isn't free, but I'm tipping it will cost less than the 3% on top of the purchase price which Custodian would charge....

Cheers and appreciate it

 

This is a lending issue and any mortgage broker who knows what they're doing can help you structure your loans to achieve this outcome. It usually costs you nothing to use a mortgage broker as we're paid by lenders.

Tax advice is the role of an accountant. A good mortgage broker will know how to structure your lending to get a good tax outcome, but actual advice needs to come from an accountant.

It sounds like Custodian is charging the 3% for sourcing the property and perhaps other services? Fair enough, this is the role of a buyers agent and they do charge for their fees. The buyers agents I work with on a regular basis charge a flat fee rather than a percentage. For a $200k property the percentage model would be a bargain, for a $500k property is getting a bit pricey.

 

Hi Kelstan2009,

Welcome to the forum! Any of the brokers on the forum will be able to help you with releasing equity to purchase a new investment, and they won't charge you! You could also seek out a buyer's advocate to find a property for you if you're not comfortable finding one yourself.

 

Speak to a broker for the loan side. Most don't charge. And speak to a lawyer or accountant for the tax side. A consultation would cost around $660.

It is relatively straight forward so you can just view my thread on terryws ideal loan structure and do it all for free.