By the way my offer on a ip was excepted today so im on my way. But if any one can answer my question above about my wifes name on the sale contract it would help me out heaps.[biggrin]

Ok so it is ok for both my wifes and my name to be on the loan application but what about the contract for the sale of the property. They asked for her name to be on there as well.Does that mean she is buying it as well and therefore tax minimisation must be from both our wages.???

Thanks for the response guys.Very helpful. I made a offer today so ill see what happens.One of my possible plans down the track is to sell the house we live in at the moment and take the $150,000 (approx)profit. Move into this investment property and make it our home and possibly add a few rooms to increase its value. HOw will this affect me tax…[Read more]

Yes it is. My mother is a retired real estate agent and she is happy to manage the property for nothing. And as far as repairs go they are extremely well maintained and before i was a mechanic i was a carpenter so i have repairs covered.So now i am struggling to find things to tell me not to do it. I tend to over analyze everthing by nature but i…[Read more]

So for my wife and i it would make more sense to go for negative gearing than positive cash flow as we have a fairly high desposable income and i pay a fair amount of tax.. Is it worth having one negative geared and one positive cash flow property. I ask this becouse the IP i am after leaves no financial burden on me( same incoming and out…[Read more]

Hi agin.Thanks for the responses. What is trust structure on a non cross colaterised loan ???

Originally posted by wanelad:
Hi yes you pretty well have it right if all your costs such as mortgage rates etc over the year are less than the income it becomes positive cash flow. There are ways to help create this by applying to have an advance tax relief. You fill out the form to have less tax paid from your wages. Further you can claim…[Read more]

I guess to add to point one above, is a property considered a positive cash flow property when the rent covers loan payment plus rates etc. If so where are these properties.No place i look at becomes positive until a fair deposit is used like 50%.If that is normal i guess i should try and make capital growth on a property,sell, then use the money…[Read more]

As far as structuring the loan.It is interest only for two years so i can build up cash after purchase for security.Loan % is very good after i pushed the lender with morgage choice saying they couldnt match it.Also is it a smart move with me still owing 200,000 on my primary residence(worth 320,000). I guess what im trying to do is get the amount…[Read more]