Do you have kids Kay? Is that why this topic has come up?

I’m confused.

Cheers
Mel

Leonid, I think that a trust would be the way to go, with you and/or your wife as trustees (or directors of trustee company) so that the borrowings are in your name.

Then if there are profits, distribute them as is decided amongst you all. Although I do think that you and/or your wife should get some distribution if you are taking the risk of…[Read more]

ANUBIS if you use the funds as the deposit, then you haven’t yet borrowed. Obviously something else must have to happen to prevent the fund then borrowing.

Although I had discussions in another post where a super fund can own jointly a property that has a loan against it – as long as certain steps are taken.

Picja, can you outline how the…[Read more]

Bruce, definitely ask your accountant, cos buying in joint names would suggest that only one can be claimed as a PPOR, rather than one each.

these are my thoughts, and I’m not an accountant, so I’d definitely be asking all the questions – in fact, the question I’d ask my accountant is ‘How can I do this to acheive what I want?’

Cheers
Mel

Bear, one thing you could do with these people is to have a contract drawn up, where they pay you $500 to start with, to cover costs etc. and if, through no fault of yours, providing the property met their criteria, you get to keep.

Cheers
Mel

I am in property and any investing for enough income that I don’t have to work unless I choose to.

At that point, I will continue to invest until I am at the point where all my family is taken care of, and at the same time I will be hoping to help others in whatever way that I can.

At that point, investing will definitely be sport![:p]

Cheers
Mel

Matt, don’t get stroppy. this is where I am coming from:

SIS said

‘Dont take it too serious on tax free income, if you do get caught you will get into a lot of trouble. This is something some banks will see as extra cash money you have available, but not all and most lenders will accept this.

The only way i know people have got round this is,…[Read more]

Hi Philip, welcome to the forum

My first question for you – have you got a plan?

You sound like you’ve got lots of different ideas that are running round in your head. I would pick one at a time, and get something happening, and then slowly move into the others.

If the amusement machines will give you cashflow, maybe go for it – that’s what…[Read more]

Originalsin, the method i’ve found is to ask ALL real estate agents in the area what the rate is – either by ‘thinking about moving to the area’ or as a purchaser.

Cheers
Mel

That’s smart thinking Terry. I reckon that idea has been in my head, but never really been crystalised before. []

Cheers
Mel

Ask him who would be pocketing the $5000, himself or his vendor?

Cheers
Mel

You’ve got 6 years after moving out. However if you moved into another house that you own, you need to choose which one was your PPOR for the period. Then if you sell the second one, you have to pro rata for the Capital Gain.

Cheers
Mel

Matt, mate, I’m sorry but in the instance of not declaring your income, I think you’re going to be doing the wrong thing.

Kay’s opinion is that wraps are unethical – nobody’s disputing that she can have her opinion. You ‘fully agreed’ with Kay. Were you agreeing that she could have an opinion, or were you also stating that your opinion is the…[Read more]

Hi Kay

No, I wouldn’t class the ‘Club’ as part of the two tier marketing – but it’s more that they go on about their ‘bulk buying’ powers gives us discounts blah blah blah, and 007 has just confirmed for me that there is no discount, it’s bought at valuation – although again, I guess it depends which valuer you get on the day.

Herron Todd White…[Read more]

Good guess Sue. I didn’t figure it was that hard – it’s obviously the doting parents with my beautiful (but oh he’s a shocker – babysit today, he doesn’t like to sleep![!]) godson.

Westan, I think that was your penance for becoming a pseudo kiwi – no computer, and having to spend all that time with your family[:p]

Cheers
Mel

Hey SIS, I know shorthand too, so you can dictate it to me, and I will type it up – or we can use the story you’re making up this week, and expand on that[]

Cheers
Mel

Originally posted by kay henry:
If it’s a girl, call the other one kay too :o)
kay henry

[:p]

Cheers
Mel

Gilad, I’ve seen many house prices of less than $100K. I guess it depends if you are confining your search area to x kms of major cities.

I’m not buying at the moment, but there are others on these forums that are, and are still finding the positive cashflow. If you search through some of the recent/older posts, you might come up with some good…[Read more]

So that really proves that the Investors Club have not secured a discount – cos that fee is about what they got out of our purchases – and the units came in at well below that price when being valued.

So much so that the bank I went through decided after that to get all properties valued rather than accept contract price as they had done in the…[Read more]

I do. I’m about to kill off my Citibank card though – $10500 as a limit is probably not helping my loan apps.

I’ve been told there is a way to use a Citibank Credit Card to actually pay your interest on your IPs – I don’t think they even have to be Citibank loans – and therefore more and more rewards. Not bad hey?

Pity I didn’t remember how…[Read more]