Anywhere from 4.67% to 5.5%.

I think you will have Related Party issues there but would check with your Accountant first.

Steve Hodgkinson is a partner with the Gold Business Group at Southport and has been my Accountant for 15 years.I have recommended Steve to literally dozens of forum members and have had nothing but praise for his services.He can be contacted on 07 5532 2855 http://www.gold-group.com.au/Tell him i sent you as most quality property Accountants are…[Read more]

I assume the property is not a residential property otherwise the fact that you are affiliated with the tenant (I assume you are a Director or similar of the Company concerned) may breach the SISA. 

Hi ReginaOk point taken.I think i would be getting them to contact Centrelink first and see what effect this will have on their pension entitlements as they will be increasing their income.They would still be better in you buying the property off them even if the lodoc 60 loan was placed in your name solely and leaving a 2nd mortgage on the…[Read more]

I hate to say it is very unlikely that your Financial planner will recommend property as normally there is minimal benefit to him or her in such an investment strategy.Certainly listen to what they have to say but then look to map your own path.Remember investing just for Tax effectiveness is a very poor long term strategy.

Gold Coast – Yes Brisbane – NO

The other thing to bear in mind is if the Rates are in arrears then it is likely that if the property has a mortgage on the property this will be in arrears also.It is not merely a matter of paying the rates and ignoring the outstanding mortgage.

Hi ShaunWelcome to the forum and our world of property investing.Obviously limited data to make a structured comment but i think you biggest enemy maybe the lack of deposit.Most lenders are not limiting their lvr's to 90% so this means you need to come up with around 10% deposit + costs and renovation expenses (Yes there are the odd lender doing…[Read more]

Your share in the property and the amount of equity are 2 totally separate figures.As any loan will need to be in Joint names the percentage split does not matter as you are both jointly and severally liable for the entire debt irrespective of the percentage split.

Absolute pleasure Jimmy and promise I will be chasing up those loan documents in the morning …. sorry or should i say later today.For Depreciation you could try someone like Washington Brown / Depreciator / Depro.

Duplicated

Hi WannabeWow sounds like a real mess. More information is required to make a valued comment but i think a little unravelling is required.Doesnt sound to me like it has been set up correctly in the first place.

Yes there are a couple but as I say a lot more informatiuon would be required in regards to the balance of the deal.

Sorry but AW is wrong and Terry is correct.Nothing to stop you borrowing as much as you like irrespective how the security is held but the loan must be in Joint names. 

Look sorry AW i dont want to appear arguementative but have to totally disagree with some of your comments.1) The fastest way to wealth creation is to pay off your PPOR ASAP, therefore always P & I. Have to disagree Interest only with a 100% offset account is the way to go as this gives you flexibility and this is the key.2) I would rather invest…[Read more]

ddd,Sorry to hear about your current position.Think there are 101 questions which need to be raised prior to an answer.In short what loan to valuation are we looking at ? Can you show satisfactory income evidence to support the loan ?Is it a working farm and where it is located.

I think AW is getting slightly confused as you state you own 10% of the property with your mother so we would assume the property is held as Tenants in Common.The loan however is a joint application and you both a jointly and severally liable for the entire debt.Therefore subject to both parties agreeing to a new increased loan amount and…[Read more]

GlennsaYes you are getting there.

Just to correct a few points above:1) Have you thought about buying a PPOR and having your brother live with you and pay you rent? This way you would be eligible for the First home owners grant which you would not be entitled to if you bought an investment property.A) Regretfully by renting out part of the home you would disqualify yourself in…[Read more]