thanks to rolf schaefer
- Thread starter richmond
- Start date
Here Here
I'll jump on the Rolf bandwagon.
Rolf was a huge help in structuring an acquisition for me in Melb. whereby we set up a loan with a 100% offset allowing me to live in it thereby establishing it as principle residence. I put the funds in the offset account and therefore paid no interest whilst living there as it would not have been tax deductible. On moving out i simply removed the funds from the offset account and was left with a well structured geared investment for which i will pay no CGT if sold with 6 years.
Rolf was able to source a bank to do this (with fixed interest and 100% offset) as mine (NAB) would not. He was completly up to speed with tax implications and all finance options.
Thanks Rolf..
Richard
I'll jump on the Rolf bandwagon.
Rolf was a huge help in structuring an acquisition for me in Melb. whereby we set up a loan with a 100% offset allowing me to live in it thereby establishing it as principle residence. I put the funds in the offset account and therefore paid no interest whilst living there as it would not have been tax deductible. On moving out i simply removed the funds from the offset account and was left with a well structured geared investment for which i will pay no CGT if sold with 6 years.
Rolf was able to source a bank to do this (with fixed interest and 100% offset) as mine (NAB) would not. He was completly up to speed with tax implications and all finance options.
Thanks Rolf..
Richard
Its great to see all this praise for Rolf who is a quiet unassuming "gentleman" in the true sense of the word.
We have a number of mutual clients and he truley goes that extra yard for them.
We have a number of mutual clients and he truley goes that extra yard for them.
I also recommend Rolf highly, who I've used for the last two purchases, and no doubt the next ones as well.
Peter
Peter
In line with this and absolutely no offense to any broker out there, what is the advantage of broker vs. going direct to your local branch of XYZ bank?
I mean seriously, if you have a good guy in a bank is it rate/negotiation/fee/charge/level of holdings so you dont get charged fees etc etc etc?
(The reason I am asking is that my prior experience with a broker was about 5 yrs ago w/suncorp and they ended u wanting to progress pay a cash reno job I had on the go. This was after I wanted a line of credit so I refinanced to CBA who approved it on the spot and I po'ed suncorp... since then I have been loyal to the branch as they have done all I've asked but if I get the right advice maybe a broker might be the way to go in future).
thanks
L
I mean seriously, if you have a good guy in a bank is it rate/negotiation/fee/charge/level of holdings so you dont get charged fees etc etc etc?
(The reason I am asking is that my prior experience with a broker was about 5 yrs ago w/suncorp and they ended u wanting to progress pay a cash reno job I had on the go. This was after I wanted a line of credit so I refinanced to CBA who approved it on the spot and I po'ed suncorp... since then I have been loyal to the branch as they have done all I've asked but if I get the right advice maybe a broker might be the way to go in future).
thanks
L
Hi Luke
In general...........................
For some people, brokers are of little percieved value until they can no longer place the business themselves. Not unlike going to joh bloggs tax agents for tax advice, there will come a time and place ..........where 70s bucks a rtn costs you thousands .................
While. right now lender may court you, please you and bend over backwards for you, if you are a progresssive investor, the time will come where ONLY a broker can help you progress past your and your personal b ankers previous indesgressions.
At that stage you would want to hope you have a good relationship with one, because most, if not all direct approaches will fall on deaf ears.
While right now this might seem codswallop, cos right now the rose coloured glasses are very on, I have one too many clients that used to think that too......................... and ultimately a no cost good quality professional can be worth 10s 100s or even millions to you depending on your volumes..
CBA like all lenders have an envelope, ocne you have broached that, youd better have a bloody good plan for getting forward.....................
ta
rolf
In general...........................
For some people, brokers are of little percieved value until they can no longer place the business themselves. Not unlike going to joh bloggs tax agents for tax advice, there will come a time and place ..........where 70s bucks a rtn costs you thousands .................
While. right now lender may court you, please you and bend over backwards for you, if you are a progresssive investor, the time will come where ONLY a broker can help you progress past your and your personal b ankers previous indesgressions.
At that stage you would want to hope you have a good relationship with one, because most, if not all direct approaches will fall on deaf ears.
While right now this might seem codswallop, cos right now the rose coloured glasses are very on, I have one too many clients that used to think that too......................... and ultimately a no cost good quality professional can be worth 10s 100s or even millions to you depending on your volumes..
CBA like all lenders have an envelope, ocne you have broached that, youd better have a bloody good plan for getting forward.....................
ta
rolf
My experience was that NAB was great to me- they got through a few deals (my flock of bats especially) which would not have gone through easily otherwise.lukentel said:
But that last deal was really pushing the envelope, and I could no longer move any further with them ($1M+ in loans, and one lender gets nervous).
It took a lot of work to be able to move on from that- Mr Ed, who is one on the true professionals along with the two Rolfs (and a couple of others in the forum) was able to move me forward from there. I would not have been in Subway without his help.
It didn't help that NAB changed some of their policies along the way.
But, when you reach that point on no further forward movement, an investment property savvy mortgage broker can be very valuable.
And it can be very important well before you reach that point- so that when you get there, you don't get the delays, which can hold you back for a loooong time.
Hi guys
I'm a bit of a believer that if you're serious about investing, you really need the very best advice, and the way to do that is the way we grow out portfolios....leverage. I like the power and security which comes from leveraging the volumes of knowledge to be found in industry experts such as Rolf.
110% of my spare investing time is spent researching my area back to front. That's to be my field of expertise.
So I get Rolf to find my loans, Dale to run my trust and accounts, X to handle my legals, Y to source my insurance and beginner-me to find the properties. At the very least then, I've reduce the number of risks involved in my investing. Most of my risk comes from me with poor property selection...but its an easier pill to swallow.
Cheers
Fish
I'm a bit of a believer that if you're serious about investing, you really need the very best advice, and the way to do that is the way we grow out portfolios....leverage. I like the power and security which comes from leveraging the volumes of knowledge to be found in industry experts such as Rolf.
110% of my spare investing time is spent researching my area back to front. That's to be my field of expertise.
So I get Rolf to find my loans, Dale to run my trust and accounts, X to handle my legals, Y to source my insurance and beginner-me to find the properties. At the very least then, I've reduce the number of risks involved in my investing. Most of my risk comes from me with poor property selection...but its an easier pill to swallow.
Cheers
Fish
lukentel said:
Definetly speak to some of the great Mortgage Brokers around Lukentel..IMHO there's a world of difference between different brokers and even the brokers and a bank loans manager (my preference are the brokers), a broker thats an Investor or regularly used by other Investors knows your goals and IMHO can better assist you by shopping for the best product for your personal sitaution from a variety of lenders.
Haven't used Rolf S, though from all accounts he definetly merits an enquiry
But, I've used Mr ED's services in the past and can only but recommend him, he has a great article on Cross-Collaterisation on his site as wellLoans Approved
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Hi Luke,
One very direct advantage with using a broker, especially when talking larger loan values, is that some banks will offer discounts that are above those advertised. Often these discounts cannot be accessed through branches, you need a broker or private banker. I was actually speaking to one of the banks about this last week and was given the reason that branches are expected to maintain higher margins that their broker channel.
Regards
Alistair Perry
One very direct advantage with using a broker, especially when talking larger loan values, is that some banks will offer discounts that are above those advertised. Often these discounts cannot be accessed through branches, you need a broker or private banker. I was actually speaking to one of the banks about this last week and was given the reason that branches are expected to maintain higher margins that their broker channel.
Regards
Alistair Perry
Hi all,
thank you very much, I am humbled.
I can do a great job because:
1. I have great clients - YOU
2. I have great referrers - YOU
Thanks again and it is always a pleasure doing business with you.
My motto:
Do everything for the client then the client will do everything for you.
thank you very much, I am humbled.
I can do a great job because:
1. I have great clients - YOU
2. I have great referrers - YOU
Thanks again and it is always a pleasure doing business with you.
My motto:
Do everything for the client then the client will do everything for you.
Hi,
A good thread, and it made me think....
My IP was financed through NAB a couple of years ago. Is it prudent to have someone ( eg a broker, or the bank itself ) re-appraise this setup periodically, and if so, can I use the services of a recommended broker 3000 klms away or should I try for someone locally?
Thanks in advance for any advice
Bill Barnes
A good thread, and it made me think....
My IP was financed through NAB a couple of years ago. Is it prudent to have someone ( eg a broker, or the bank itself ) re-appraise this setup periodically, and if so, can I use the services of a recommended broker 3000 klms away or should I try for someone locally?
Thanks in advance for any advice
Bill Barnes
Thumbs up to Rolf S
My thanks to Rolf also,
we had terrible problems with a so called finance expert in our recent purchase, I contacted Rolf after referel and he gave us some great advice, even when Rolf didn't get the business as the original finance broker sorted out there act.
We will be using Rolf's professional services from now on.
My thanks to Rolf also,
we had terrible problems with a so called finance expert in our recent purchase, I contacted Rolf after referel and he gave us some great advice, even when Rolf didn't get the business as the original finance broker sorted out there act.
We will be using Rolf's professional services from now on.
