I think many would be interested. It is not just the cost of LMI that stops people, but the LMI company rejecting the loan for a variety of reasons.

You would need specific legal advice, as what is suitable for one person may not be suitable for another. What works in QLD property may be too costly for NSW property for example. structuring loans will depend on who the legal ownership, serviceability, security value, other assets, interest rates etc.

If you have any specific questions ask…[Read more]

yes
why not

whats your question?

This won’t be welcome under residential lending.
Most lenders will not lend for more than 2 on title. Some will, but if they think you will be running a short term rental business they will not include potential rent.
You will need to consult a broker.

Will you be buying for $200k or $300k or $450k?
better speak to a lawyer too, especially if…[Read more]

You would need a written lease with an inspection report and incorporate this into the contract of sale

first get permission from the mortgagee – they won’t give it.
Then speak to your conveyancing lawyer about whether a contract is needed, enter contracts and sign transfer and settle.
Duty will be payable on the value transferred.

see https://www.propertyinvesting.com/topic/5055830-title/#post-5055833

any change in title will require a release of the mortgage. This means the loan will need to be paid out or a new loan applied for.

Stamp duty will apply on the value transferred, unless there is an exemption. none available for pensioners as far as I know but depending on the circumstances you might be able to argue a trust relationship.

Going…[Read more]

my wife just got a 0% interest loan… from a related trust.

You could be looking at less than 3.30% PI. it all depends.

good advice Beas

http://classic.austlii.edu.au/au/legis/vic/consol_act/oca2006260/

Owners Corporation Act in VIC http://classic.austlii.edu.au/au/legis/vic/consol_act/oca2006260/

Not correct.
But is correct if you choose to use the main residence exemption on the new one.

Not correct.
But if correct if you choose to use the main residence exemption on the new one.

Not enough info, but possibly not as you have been absent for less than 6 years.

Deductibility depends on the use to which borrowed funds are put, not what you tell the bank.

Not deductible

Hi Flynn

I am a tax lawyer and as far as I know there has never been such a law.
It may be possible for certain small businesses to defer capital gains on the sale of a business but not for property investors.

Interesting you are after 8 years experience! why not 10?