Only the person who’s name is on title can deduct the interest. You would put the title in the name of the person with the highest income if tax deductions are driving your decision.

TMA
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Wow, you are easily pleased oshen!

TMA
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Stacking equals lying equals fraud.

For example, you buy a property for 200k. You ask the vendor to put 300k on the contract and kick you back 100k (why they would do this I don’t know as they would have to pay CGT on the extra 100k as well). You pay the extra stamp duty. The contract is stacked!

You go for a loan later and request a valuation.…[Read more]

That is not 95% LVR. I thought that was what you were talking about. I have done heaps of these for old clients as I am sure many brokers here have also done.

I have done a loan in excess of 150% “LVR” of purchase price!!!!! Woooooohoooooooooooooo!!!!!!!!!!!!!

The client bought off the plan in 2001 for 290k. Valuation in 2003 was 560k. Loan…[Read more]

And this is not dyslexia, it is incompetence!

TMA
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I totally support investing while renting. It is usually cheaper!

TMA
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If you feel uncomfortable about talking to the older gentleman yourself, I would be talking to the local home nursing care services to tell them about the old man and his ‘situation’. He may be incontinent and suffering from a bit of dementure. They will certainly pay him a visit to ensure he is ok, healthy and living well. They will also help him…[Read more]

I would go with buying the home to live in for 6 months and then moving out to rent a place to live and rent the property. That way, if in NSW, you pay no stamp duty, you get the FHOG, you get a 6 year CGT exemption, the whole property becomes fully deductible and your overall cost to hold the property should be less when it is rented out…[Read more]

There are much better opportunities for a lot less. I would stay right away from that area.

TMA
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Offices will be at the lower end of the LVR market. They are higher risk.

TMA
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Regarding your first question, YES.

TMA
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That is true Alistair. Also, there is always the 100% no deposit loans with FHOG where the stamp duty savings (in NSW) and the $7,000 grant will pretty much cover all expenses up to a purchase price of around $250,000. The rates on these are not to bad (around 0.8% – 1.5% more than normal).

TMA
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First Home…[Read more]

OOOOOPS… Thanks for that. I meant non-government run organisations.

My point was that they are very influential in the economy and people’s lives and not run by the Government.

TMA
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Originally posted by Michael Whyte:
One point I think TMA is missing is that when you retire from salaried employment, the intent is to live off your investment structure. This does not necessarily mean that you will be living off the surplus “income” in your structure above expenses. You may be neutral and living off surplus “growth” at a lower…[Read more]

<Edited: Rob, some good points made but lost in the personal jibes that, in my opinion, weren’t as bad as they may have seemed. Stick to playing the ball mate and be open to different opinions under the “let’s agree to disagree” philosophy.>

Notice how the interest rate was conveniently left out…

There has been such products around for years. Other lenders offer more than 105%. It is no big deal.

APerry, to address your comment, this product is marketed to higher income earners who spend on lifestyle and wake up one day thinking it is time to buy property.

They stop renting that…[Read more]

WA Finance Brokers need to be licensed. Any broker outside WA can operate in WA if they can get licensed. There are two way to get licensed (ignoring all other requirements)…

1. Live in WA
2. A Director of your company lives in WA and holds the license.

Either way is not practical for single operators not living in WA. This requirement has…[Read more]

Originally posted by Terryw:
Some people have more than 1 property and have no need for any extras. A simple IO loan is all that is needed.

Don’t get defensive… I am allowed to ask questions. So, where is all the extra funds going????? Devil, do you have more than one property????

For the 95% loan with no LMI, this was for a new client as…[Read more]

Caston, I am extremely familiar with the workings of shares and margin lending. My comment was regarding risk. Shares are far more volatile than property. Even Bank shares… look at their prices since 9/11.

TMA
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Congratulations!!!

TMA
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