If it’s under ur friends name then he/she has to pay the tax and can make the expenses etc…
Im not 100% sure what your trying to achieve? buy in frds name; but you get income and get the tax benefits???? ( not possible)

Regards
Michael

why dont this person just transfer the money to your bank account?

Regards
Michael

For development of more then 4; your best to stick with commercial anyway;

– More flexible
– Easier to deal with + faster + can be tailored to your needs
– Will take in pre-sales
– Interest can be cap ( depending on lender)
– Better valuation

Remember rate is one of the last thing successful medium- large developers look at as it will only last…[Read more]

If your looking for property located in Sydney, then you can’t go wrong with Nathan Birch.
Some of my clients keeps raving about him! + i been to 2 of his talk and i can see why.,..

Regards
Michael

Vote Done!
Just sent out a staff memo to vote for ya as well!

Good luck – don’t think you need it as your pics are beautiful!

Regards
Michael

A bit hard to say, as this will be your PPOR the thinking behind the investing is slightly diff….Depends on;

1. What you interpret as “value wise”, i have buyers who had bought a Townhouse in Merrylands for $380,000 which is roughly $25,000 less then the average for a simliar property ~ 10% less…and they may they consider that as value?

2.…[Read more]

Hahah Richard good one!

Love ya Terry

Ghorvath – If the title is under ur name then yes you claim 100% of the loan; The ATO doesn’t ask whos paying for the mortgage as such- in fact your wife would most likely be listed as an guarantor of the loan with some of the major lenders like NAB if she not on the deed.

Regards
Michael

ok wow…something must have went terribly wrong- 10k borrowing capacity to 400k!?

Apply for the pre-approval when you are ready to buy + have all the paper work in place. Ie no point applying if you need to submit the group ceri which you clearly dont have with you now?

Mate great email!

Common problem; Max 70% LVR on their dual properties – including duplex and granny flat ….which i find quite stupidly low, but they aren’t the only way that have that sort of policy..

Matter of matching up your needs with the bank at that “time”- unfortunately bank loyalty hardly works.

Your wage is not high enough to consider a land + build loan….land and build loan require a lot more deposit + slightly better serviceability for the lender to be “comfortable”.

Also are you planning on doing ” owners builders”ie you contract the build job out your self? if so that requires a 20% deposit …
If anything on your current wage +…[Read more]

Are you doing this as a private sale? or via a agent?

Terryw wrote:
How can the potential buyer accept your offer to sell the house when they don't know the terms.Also, in NSW at least, a property cannot be marketed by an agent unless a contract of sale has already been prepared.

Yep; i alwasy ask for the sale contract before making any offer.

Like create a conspiracy

Not that im aware of.

But they need to be licensed builders themselves ( not a carpenter) – so check they are licensed with no complaints held against them …for NSW
http://www.fairtrading.nsw.gov.au/About_us/Online_services/Home_building_licence_check.html

+ preferred if they are part of HIA ( housing industry Association).

Most are either…[Read more]

Depends on location…..+ security type.
But 7% is pretty good for Com.

Sounds like your with ANZ….

Simple answer- They are the one lending you the money; so you just have to play by their “rules”

Solution- if you still can’t meet serviceability you will have jump ship ( make sure you go to a lender that WILL accept your $300 per week lol)
OR close off your credit cards and see if you pass the…[Read more]

I would consider hiring a development project manager to overlook the prices, builders, plans in fact the whole project.
Most ppl choose not to hire a project manager for smaller-medium development because they think it cost too much….but i think it’s money well spent especially if you have not done this sort of work before- Cost: around $4000…[Read more]

FYI – Fixed rate is starting to go back up.

Bankwest has increased it by 0.50% as of this Monday.
Westpac has increased it by 0.20% as of last week

Another banks are set to follow suit…rem fix rate does NOT run in conjunction to the variable rates decisions….different funding lines.

I would say fix if it works to your advantage:
1. It…[Read more]

Not sure what your asking or wanting to know??

Let me take a punt
1. You may have equity in your property; but you need to be able to AFFORD any increase in your loan as well
2. Drawing out equity from your property = increasing your loan by the amount you draw out

Say you have $50k equity available in your property; your income needs to be high…[Read more]

More??? who says….

Family trust, unit trust, discretionary trust – at the same discounted rate as personal borrowers 6.4% etc…
Hybrid trust – Depends how it’s set up and how complex
SMSF – Normally changed at the SVR with no discounting ; but some lenders do provide some discounting
Property Unit trust – Depends how it’s set up and how…[Read more]