Click here to register Click Here to See our Services!
you are here: Mortgage > MLG Realty

   
Investment Property Specialists MLG Realty are a leading player nationally in off the plan project marketing, residential & investment sales, property management and property finance with offices in Perth, Melbourne & Brisbane...


   
   
  Introducing MLG Australia: -
  I am Marcus Gilmore, founder and CEO of one Australia's most innovative and diversified real estate companies - MLG Australia.

The MLG brand has become synonymous with excellence in bringing to its clients a wide range of outstanding property, including, luxury river and ocean front projects, five star CBD and inner city apartments plus a wide range of handpicked commercial and residential real estate in prestigious locations. MLG have established partnerships in South Africa, the United Kingdom and Asia as well as offices in Perth, Melbourne, Brisbane and Sydney.

Our international presence brings to the MLG team a deep understanding of the requirements of foreign investors and migrants when dealing with investment and property acquisition in Australia.

Our cultural sensitivity and international focus coupled with a superior understanding of the Australian economy and property market, combine to deliver outstanding buying opportunities for our clients all around the world.


To deliver to the high standard we have set ourselves, MLG is structured into four specialised divisions: -

  • MLG Realty - General residential and commercial real estate sales including "off the plan" project sales.

  • MLG Investments - For very serious investors looking for below market investments through bulk buy initiatives.

  • MLG Money - Our in-house finance department for all your finance needs including foreign currency loans.

  • MLG Property Management - Leasing and asset management of investment property.
 
 


 
MLG Realty is an industry regarded specialist in selling development projects off the plan, and has represented many of Australia's leading developers in mos interstate markets over the past 5 years.

MLG dominated this market to such an extent that our business rapidly expanded to provide a full range of property based services.

From selling off-the-plan projects to completed property, right through to finance solutions and property management, MLG has created a 'One Stop Shop' in residential and commercial property for their clients.


MLG Realty offer the following: -
  • Project marketing.
  • Project sales.
  • Investment sales.
  • Project management.
  • Property finance.
  • Research & consultancy.
  • Contract advice & administration.

At MLG we also pride ourselves on accountability from start to finish, and guiding clients through the complete process starting from buying property, professional property management, and finishing with re-selling the property at it's highest value.


To summarise we: -
  • Research.
  • Sell.
  • Finance.
  • Settle.
  • Manage.
  • Re-sell.
  • ...and the process continues.



 
MLG Investments primary business focus is to source extremely well valued and located property for serious investors. This area of our business takes an extremely disciplined approach to property investment and deals only with active investors and professional advisers with clients keen to invest in residential and commercial property.

Through outstanding performance in the sales and marketing of many landmark Australian property developments over the past 5 years, MLG is able to negotiate lucrative buying opportunities for its investor client base.

MLG Investments clients are able to consistently have access to a wide range of investment property at below market values and in prestigious locations.

Due to the Global Economic Crisis, and with MLG at the forefront of the Australian real estate industry we are able to identify and negotiate lucrative bulk buying and wholesale purchase opportunities for our clients, which they would not be able to source individually in the traditional real estate market.


MLG Investments services include: -
  • Discounted property through bulk buying opportunities.
  • Latest property news and research articles.
  • Invitations to new release briefings.
  • Below market investments
  • Access to our network of Australian property partners in financial planning, conveyancing and law.


Financing Australian Property 

As a specialist mortgage brokerage, MLG Money assists non-residents and overseas borrowers to obtain finance for property purchased in Australia. MLG Money have a panel of lenders offering various lending options to our non resident clients which includes all of Australia's Banks and leading lending institutions.

We are able to assist you in all aspects of your property purchase, including making contact with Accountants, Financial planners and Solicitors/Conveyancers required for the settlement of your property.

The term non-resident is used to refer to Australian Citizens who reside overseas and who do not submit Income Tax returns to the Australian Government.
 

 
How to Qualify for Lending in Australia

Firstly, as a non resident of Australia, you will need to make sure the investment option satisfies the Foreign Investment Review Board (FIRB) conditions. Essentially, the purchase must be for investment purpose and you must intend to rent out your new property.

As a non resident there are three main options available to you. Borrowing is available in Australian dollars or in the currency that you are renumerated. It is also available on a limited documentation basis subject to the type of value ratio available of 80% is available if your income is to be verified and the borrowing is to be in Australian dollars. This reduces to 70% if the borrowing is to be in another currency.

When a limited documentation option is chosen, lending is traditionally available  to 60%  of the property's value. Note: When considering currency lending we always request that you seek independent advice from your accountant to confirm this option suits your investment strategy. All lenders will require supporting documentation to be provided to assist them achieve an approval. The required documents may change based on the nature of the application being submitted  or the type of property being purchased.


For example: -
  1. Confirmation of income being received with tax status to be confirmed.
  2. Proof of identity by passport and drivers licence or other documentation.
  3. Confirmation of property ownership and rental income.
  4. Confirmation of rental income to be received from the new purchase, this would be provided by MLG Australia.

To qualify for lending in Australia, MLG Money provide a pre-qualification option at no cost to you.

For more information please go to the MLG Money website, qualify and complete the form attached. One of our broker team will be in contact with you within 48 hours to discuss your lending options.
 


Successful property investment is not just about buying at the right time and price. It is just as much about the capital growth and income stream which it can provide. In order to maximise these factors a highly skilled and competent property manager must be appointed.

The property must be maintained and managed to the highest achievable standard so you are able to receive a high and consistent stream of income and resell the property as its highest value.

At MLG, our Property Management staff work harder than anyone else to ensure that we meet these standards and your expectations.


To do this our management staff: -
  • Regularly discuss your property with you and will always be making recommendations for your consideration.
  • Find quality tenants.
  • Act to minimise vacancy periods.
  • Negotiate and complete leases efficiently.
  • Manage security bonds.
  • Perform regular and thorough property inspections.
  • Collect and distribute your rent.
  • Diligently manage your repairs and maintenance should there be any.
  • Make recommendations on rent reviews.
  • Manage all your rates, taxes and bills.
  • Provide end of financial year tax summaries.

At the end of the day our ultimate goal is to provide you with complete peace of mind knowing that your investment in Australia is safe.
 


Buying Australian Property: -

Australia has been one of the worlds most consistent property markets for the past 25 years, providing owners with secure capital growth in excess of 7% and has proven to be extremely resilient to external influences such as world economic downturns.
 

 
Legal Issues

Australian property comes with a clear and distinct freehold title system called the "Torrens Title" which is recognised as one of the most secure and transparent legal property systems in the world. Strong consumer laws govern the construction industry as well as the standards applying to new housing so you can safely rely on developers and builders to deliver you a property that is very well built. The Residential Tenancy Act is well defined legislation protecting the interest of landlords of residential investment property.

 
Restrictions for Foreign Buyer 

Foreigners seeking to buy property in Australia must seek approval from the government's Foreign Investment Review Board (FIRB). Foreign nationals buying jointly with their Australian spouse are exempt. All other foreigners need permission from the FIRB, and will generally only get it if they are either  buying off-plan, or a brand new property direct from the developer.

There have been a number of recent positive changes to FIRB regulations to encourage additional foreign investment into Australia. You may now get approval to buy land to build on (on the condition that construction starts within 24 months) or a derelict, second hand property to pull down and redevelop (on the condition that you increase the number of dwellings on the land).

If you are a "temporary resident" (you hold a valid Australian visa of any type of any expiry date) you may purchase second hand dwellings. Foreign students resident in Australia are no longer subject to a $300,000 limit on the value of an established dwelling as their principle place of residence.

Foreign-owned corporations can purchase second hand dwellings for use by their Australian based staff provided they rent it or sell it if its going to be vacant for more than 6 months. Commercial property up to AUD$50m is exempt from FIRB approval. FIRB approvals take a minimum of 30 days to process.
 

 
Costs

Estate agent's fees in Australia are paid by the seller. Property conveyancing may be done by a lawyer  or a settlement agent. Some quote a fixed sum, between AUD$500 and AUD$1,000, while others will charge a percentage of the property value up to 2%. Stamp duty applies  to the transfer of land and the purchaser is responsible for this liability. All transfers of land are subject to duty based on the value of land including its improvement. The percentage applied and subsequent total cost is set by the relevant State Government. Allow between 3 and 5% of the value or the property.
 

 
The Buying Process

Once you've found a property you need to seek FIRB approval straight away, as this can take up to 30 days to come through. You can exchange contracts, as long as they are conditional on obtaining FIRB approval.

The Typical process involves the execution of an unconditional contract  with payment of a 10%  deposit within 7-21 days of executing a contract. In some states "Cooling Off" periods do apply, but not all states so you need to be aware of this. Purchasers will then typically appoint a Solicitor or Settlement Agent who will represent them in relation to the settlement process. Your appointed representative will guide you through the process, as well as review the sale contract and prepare the relevant paperwork in preparation for settlement.

When purchasing a property you will have the opportunity to inspect the property prior to settlement. If you are unable to do so, you can have a representative complete it for you, which we strongly recommend. With new construction there are typically warranty periods after settlement for items such as defects, which range from 6-12 months.

Once you pay your 10% deposit you are now tied in as long as no problems occur with the conditional issues. Some states have cooling off periods. The solicitor or settlement agent will draw up the transfer document and check the contract and title deeds. The transfer document and contract are then sent to be stamped at the office of State Revenue. The duties are paid and then the transfer form and title documents sent off to be registered.
 

 
Selling Up

Estate agents fees are paid by sellers. These vary from state to state, but will typically be between 2 and 5%. They are negotiable. Conveyancing fees will cost a similar amount to those paid by the buyer, maybe a little less.

Overall, Australia has great opportunities  for property investors but take the time to understand the economy and other drivers of the real estate market. MLG Australia will guide you through the complete process with direct information and full disclosure of all aspect relating yo your purchase. Australians love to invest in their own real estate and you will find a well-developed infrastructure for the property investor in Australia.

*Whilst every effort has been made to ensure the accuracy of the contents of this brochure, we strongly recommend you seek independent professional advice to suit your individual circumstances.
 

Want to be sure that you meet the criteria for an Australian visa options?

Register online and get the answers NOW!