TWH wrote:
Not sure if any one else has the problems I have with this site , and right now I am on the wifes computer which is brand new my computer won't even open the site up………………..Jay…[Read more]

Vin Morgan wrote:
There are other "no money down" initiatives for active investors opposed to passive.

This is not a very helpful comment Vin. If you want to attract potential clients you will have to contribute something useful.

I've done it before and was lucky enough to rescind the contract.

Think about the fact that it could hold you back from investing in the meantime because you will have it hanging over your head. worried that if you buy something now you may not have enough capacity for the finance for the one off the plan.

Don't just buy something because you are frustrated. Maybe take a break for a few weekends and then get back into it. I know the feeling and have felt it many times before

LDNNW1 wrote:
Hi guys,

I'm new to this forum and looking for some advice regarding the best  vehicle and structure for my investment.

At present i am 24 year old Australian citizen although I only moved to live in Sydney from the uk 1.5 years ago.

I have been working full time for the past 6'months as a restaurant manager currently earning…[Read more]

That is very small…

jasmeet wrote:
thnx terry

In my situation my previous spouse has owned a property and claimed FHOG on that property, but i was not married to him when he got fhog, neither i was on loan papers but was married to him when he sold it.

Best thing to do is to look at the legislation. First Home Owners Grant Act in the state in which you are…[Read more]

You could report the agent to the Real Estate Institute of your state.

Qlds007 wrote:
Ok thanks Terry see we all live and learn.

I was aware a person under the age of 18 couldn't enter into a mortgage agreement but wasn't aware that could take Title of the property.

I was aware they could in certain circumstances enter a Contract but didnt realise that included the purchase of land etc.

Cheers

Yours in…[Read more]

May I suggest you have a look at two blogs. They have revolutionised my thinking

1. Mr. Money Mustache

Home

2. Early Retirement Extreme— a combination of simple living, anticonsumerism, DIY ethics, self-reliance, and applied capitalism
http://earlyretirementextreme.com/

The basic idea is to save as much of your pay…[Read more]

I was inviited into a group thing many years ago and didn't join. but the group went ahead anyway. It is very hard to come to decisions when there is a group. It is dedious and then the ones who don't get their way resent the others. This group took many months to just choose the name and they then formed a company. Then they realised finance was…[Read more]

Without looking at the legislation…. I think you could possibly qualify if you or your current spouse has never owned property before.

Jamie M wrote:
ANZ will let you place the funds back into the loan – but if the balance of the loan goes to $0, the account is automatically closed so the borrower needs to leave a little bit owing.

Cheers

Jamie

Hi Jamie

This was a loan increase and I tried to get anz to leave the funds there available as redraw or draw down and pay back in…[Read more]

Qlds007 wrote:
16 i think that is an excellent starting age but remember you need to be 18 before you can legally enter into a Contract.

I purchased my first property and 18 and have never looked back.

Cheers

Yours in Finance

Actually kids can enter contracts before 18 under a number of circumstances such as if they will benefit from the…[Read more]

This is called a deed of partition. It has to be set up like you say with each % ownership in accordance with the final land size for that person. Should be possible to avoid stamp duty on the final transfer (or nominal) and a beneficiary is assessed, generally, as the owner for income tax purposes. Legally each person will own the same percentage…[Read more]

1. If you do this you will lose the connection between borrowing and investing and in my view you run a high risk of not having the interest deductible. Don't do it without advice. If you do do it then make sure that offset account has no other funds in it.

Best to use a LOC for this very reason. Or put the money back into the loan – some banks…[Read more]

Subject to servicing still…

clintron wrote:
Sorry I think I was a bit unclear, I have the ability to borrow funds to build. However as my parents own the land I'm not sure if banks would consider lending to me for the build. 

No they woudn’t. You don’t have any security to offer. (unless you used o

The bank can come after all your assets. But unmortgaged assets will take longer to take, I mean property not mortgaged to that bank relating to the loan in question.

But the real advantage is if you are in trouble you could sell one property and keep the other and use the cash released to get you out of trouble.

If you had 2 crossed properties…[Read more]

That is understandable. Many years ago someone turned up at my door and serves some court documents upon me. I had judgment against me for unpaid council rates. First that I knew about it. I immediately paid but a judgment for $499 appeared on my credit file for 5 years.