Phat is a doctor & runs multiple GP practices in Sydney’s west. He and his wife are a high income household with two children living in Sydney’s inner west.
Details & Goals:
At Confidence, we have worked with Phat for the past 3 years as his business has grown. In that time Phat has purchased:
Phat & Van’s borrowing power has never been an issue, with a very high household income.
Phat and Van could obtain multiple SMSF loans prior to the 2017 changes in superannuation contribution limits. They were advised to purchase long term buy and hold assets in these entities as there are restrictions on what can be purchased inside an SMSF.
Phat and Van also obtained a very large 1.50% discount of the SVR with a major lending institution for their owner occupier residence. This was the case given their large loan size & multiple large lenders competing for their business.
In addition, they were able to finance a multi-unit development inside a company from a major lender under standard residential financing who had no issues financing 4 units on one title constructions. This saved Phat & Van thousands in commercial loan fees & time and energy jumping through additional commercial loopholes.
Phat and Van have a $12 million portfolio, including $1.2million in SMSF assets.
Loan types: Given the strong cash flow, variable loans, ideally interest only with offsets attached have been the preference. This allows flexibility to move their cash reserves around seamlessly.
Future plans: Phat and Van still have the borrowing capacity to obtain another $5million in property. They are now looking to replicate their Sydney portfolio in Melbourne.
Hear from Phat & Van:
Redom is a star of the industry. We were attracted to his knowledge and expertise after reading some of his commentary on Australian Property Magazine. It’s good dealing with an expert, while knowing he has the resources and team behind him to meet our complex requirements. I’ve referred Redom to several of my friends and community – they’ve all had the same experience as me – his been integral to helping my family and friends get their loans. Thank you Redom and team.