Hi steve,
There’s a lot of numbers there- i will have to sit down and work it out and post back later – bur for now i will answer your 4 questions.

1. Trust is quite simple- it’s similar to a company, but the pit fall is WHICH type of trust you want to open and What structure/how – this will have a huge bearing in term of your tax and financial…[Read more]

Mookii- Your not going to get any reply unless you give us a bit more details….

It’s like typing, i have $300,000- what can i buy???

Tell us a bit more about the deal/reason/ financials etc….
I have private short/long term lenders that range from 3% – 27%

Regards
Michael

They are just mortgage brokers who “specialize” in equity release and debt recycling – a service most brokers can offer these days.
Do they charge any fees? because what they offer is what most brokers can offer for free…

But no i have not heard or dealt with them before.

Regards
Michael

Jetison,

Rual area and Vacant land…going to be tricky! – what are you planing to do with the land???
What LVR and also what is the postcode?

Regards
Michael

dotkangaroo – Welcome!

Scott is right, some state allows you to place you partner’s name on the deed without paying the stamp duty ie VIC ( pay a $20 rego fee only), another states such as NSW require you to pay the stamp duty portion of the “sell off”.

I’m not up to date about QLD, SA, NT, WA…..maybe another members who knows can fill us in…[Read more]

Your friend is right.

Any funds that is NOT used for investment purpose you can not claim a tax deduction.
So if you had 200k in your IP- and you top it up to by another $100k, but use this $!00k as deposit for your PPOR – then only the $200k will be tax deductable- Hence why i suggested a Split loan; to keep them separate.

Regards
Michael

benji beane wrote:
Michael,You suggested "NCPP" but I think you got the wrong letter doubled. It is "NCCP" The National Consumer Credit Protection Act is a new Commonwealth law that includes the old state based Uniform Credit Code. It enforces reponsible lending obligations on all licensees. To find out more about the new National Consumer…[Read more]

Sigh…I dont know if i should be sad because it’s Monday or because this post about IMG gives us broker a bad name…
No broker should charge a fee unless it’s a complex Commercial loan OR it involves a private lender.

Lennyboy- in your situation; this “broker” has broken a few legal parameters set by MFAA and by the NCPP; from my…[Read more]

That’s what any good son/daughter would do- Good job mate!

Regards
Michael

propertyboy wrote:
Just trying to gage what current rates are everyone is getting.I have $1.1m in debt.Three seperate investment property loans.The current interest rate I am getting is 6.96% on all loans.Is anyone getting a better rate than this at the moment?Could I renegotiate a better rate or am I getting the best out there on the market at…[Read more]

HI Marty,

Your correct, HSBC is no longer part of the general broker market …im guessing due to cost VS numbers of loan placed through the broker/ aggregator market. However i had a direct accreditation with HSBC when they were in the market ( not via aggregator), and due to the amount of loans i had placed through to them and another products…[Read more]

Trust fund is a totally different ball game! and depending on the trust you open ( hybrid, unit…) they normally have no "personal" tax advantages, the trust is it's only entity within it's own RegardsMichael

You will have a hard time explaing to the ATO it's a IP …renting to your partents- and your partent's are on the title deed as well..so i would say NO. ( all title holder are entitled to the tax benefit from -ve)But if you buy the property under your name only- and use your parents in a guarantor loan then this is possible- as they wont be on…[Read more]

LOl god….play nice- mat is providing free information to the general public– thanks Mat:)( god i understand your point, and it is valid) RegardsMichael

From the amount of emails our firm received regarding this – i can you a lot of the deals fall through because of financing. Without money – you can't really invest..Financing is possible and we have placed a few loans recently, but  i have to admit, it's not easy financing US property for non-resident ( of US)- possible; but it's not as straight…[Read more]

navyboy wrote:
Seeing as there is plenty of equity in the PPOR could you borrow a further 20k on top of the required loan amount and fees and pay the interest on your IP loan upfront (which will be tax deductable?) and then use your wage and any income from your IP to pay your PPOR of quicker? Effectively just transferring your debt from non…[Read more]

Sav wrote:
Thankz for the fast reply ……….speedy gonzales……….your nick suits you ahahhaha…….im interested in the USA market………have 30k in savings…..income 70k + girlfriend 50k …….we are both 26 years old and have one investment property in Melbourne renting out at $320 per week……..the property is worth around 400k…[Read more]

ahha ok, make sense now

Answer is yes, as long as this is your declared PPOR, and also the main “purpose” is not for rental ( meaning you can rent out to 1-2 ppl..but dont go over board and rent out 3 of the 4 rooms…)

Regards
Michael

At 90% it’s impossible…even private lenders wont touch this deal:(

If your asking 80% LVR, with a house as equity in Australia when we are in business

Regards
Michael

Be aware some areas are now marked in the LMI providers black book…and will only be financed under a 80% LVR ( where LMI is not payable)

If you buy in a area where finance is hard obtain- yes it may be cheap…but it be hard to sell as well! low capital gain ( ie look at how student accommodation works)

Cheap does NOT equate to bargain!

Just…[Read more]