As far as I can gather, the Bank of Japan is located in Japan and not Australia, and therefore the loan would be issued in the Japanese Yen currency.  Let's pretend the interest rate is indeed 0%.  Sooner or later you would still have to pay out the principal amount though, and this would have to be paid in Yen, regardless of the exchange rate…[Read more]

Frankston Fella wrote:
Thanks Jac, so are you thinking like a yearly rate perhaps averaged over their stay…that could work, I have heard some students will pay almost their entire stay in advance…worth considering…cheers FF

That's exactly what I'm thinking yes.  If it is legal, I'd be asking overseas students to pay a large amount…[Read more]

g0biin wrote:
Yes Capital growth has not been to bad actually. But to relise this value I need to sell and I dont really want to sell at this stage.

Why would you have to sell?  Why not get a valuation and refinance on the new value?

Students could of course be considered a bit of a nuisance in that regard, but you could get around the issue by making the shortstay rate higher

Advertise on http://www.gumtree.com.  Also there might be a government assisted housing program in the area.  In Geelong it is called Diversitat.  Basically helps new migrants find somewhere to live for their first little while in Oz.  Advertise with local TAFE and Unis…

How many properties would you be prepared to lose in one lawsuit if a tenant sued the owner of a property for something?  That's probably your answer.That said, let's pretend that you have an IP that returns only $6k per year in rents, and let's pretend that it would cost $2k per year in accounting fees to keep the trust going, you might have a pe…[Read more]

Try and think of it like this: imagine if you had 20 different loans.  Just have one offset on the loan that has the highest interest rate and put all your spare cash in there.  That way you'll save the most money.  Who really cares which precise property loan was the one that you saved against.  It's the overall numbers that matter.  Does that…[Read more]

Can't say I'd be taking this approach.Look at two things:Firstly, this business about buying the car on the credit card for the frequent flyer points:  you've worked out that the 2.2% transaction fee equals about $440.  Would  the frequent flyer points you earn from this transaction get you a flight that would have cost you $440 in real doll…[Read more]

Hi!If it were me, I don't think I'd be keen to put all my eggs in the one $600k basket.  Imagine if something went wrong.  For instance, sometimes tenants decide to stop paying rent, and then do not leave the property when ordered to do so.  This situation could be financially cripplying for you.  Perhaps you might be better off looking at a pro…[Read more]

House Call wrote:
update: I amicably phoned the selling agent who was very helpful, appropriately shocked and offered immediately to compensate us for cleaning costs. Which proves there are some really reasonable people in the world and that now removes most of the slightly bitter taste I had in my mouth about all this.  So JacM you will be…[Read more]

Try and point it out of your mind – there are so many inconsiderate people in the world it'll make you bitter.  Just console yourself with the fact you'd never do such a thing yourself, and the fact that you're steadily building a nice pot of wealth because you are smarter than them

Thankyou very much Terry – clear info and easy to understand   Hope you are well

Hi Terry,I'm trying to get my head around company and/or trust structures also.  I'm a contractor and have pondered the idea of working through my own company for tax minimisation reasons.  This business (or trusts within it????) would then use incoming monies to buy properties.  How would the setup of this look?  Let's pretend I bring in say, $50…[Read more]

Jessie – earnings will have to be declared in Australia regardless of whether you've transferred earnings to Australia or not.  Foreign income has to be declared, and you indicate whether you've paid any taxes (ie in the U.S.) already and that is taken into account.

You can take out a second mortgage on a property… so say for instance he was going to buy IP #2 through a bank called the ABC Bank, then ABC bank would take out a second mortgage on your friends first property (let's say of $200k) and another mortgage on the new property.The finance chaps will be able to explain it in more detail, but that is…[Read more]

How many houses do you buy from agents per month?  How many does a buyers agent buy?  There is your answer.  Agents know buyers agents buy lots of property, albeit on behalf of their clients.  So of course they are going to receive the call before you do, because they are in a position to move more sales than you are.

Awesome!  Thanks for letting us know!

Getting insurance is a bit of a pain – search "rooming house" and "boarding house" on this forum to read more on that.You'd need to charge an "all in" fee that covers water, electricity, internet etc.  As such you might need to take measures such as arranging for the hot water to magically stop after the shower has been running for 4mins to…[Read more]

Have you called the payroll officer of your previous company and asked for the letter?  Alternatively, ATO will probably have a record of it on file.  Have you called ATO?

I do not see how this would be the responsibility of your previous employer. Do you still have the letter from your accountant that you gave your previous employer?  If so, why can't you give that to your new employer?