Hi Mr 007,
clearly plenty of lenders are willing to lend more than purchase price given that 100% finance + expenses is common
Have looked into it further and this kind of structure has been executed in a number of bulk deals previously. I spoke to an independently recommended solicitor in QLD who said that it used to be permitted in QLD but…[Read more]
Thanks guys, yes I will clearly be getting a good solicitor to take a look, I've been recommended a good Brisbane lawyer. Bank is aware of secondary contract.
So far my financial planner's accountants think that it is a reduction to the cost base. Getting a second opinion as if it's income that could obviously impact the holding strategy.…
Some great leads here, thanks folks. I tend to agree that I'd prefer to educate myself rather than trust the advisers. But wouldn't it be great if I could land the perfect adviser and build a trust relationship because they are prepared to take the time to educate me. Mythical creature??
As context I'm 35 yo, currently in highest tax bracket but…[Read more]