You could still pull out within the cooling off period.

They are probably wanting to control the property without having to pay the interest on a loan. It may be worth 10% more in 6 months or even more and they could want to try and resell it before they settle.

Unless they specified otherwise you would be getting any rent.

But, becareful. accepting 5% deposit and then what if the other party doesn’t…[Read more]

I was in Shinjuku a few weeks ago  – extremely busy place. But I would be worried about investing in Japan because of the lack of capital growth (or decreasing values) and the high taxes.What would the rental yields be?

propertyboy wrote:
I want to pursue this.Can anyone recommend a property lawyer in Melbourne?I really want to speak to someone and see if I have a case? They might say there is nothing I can do. Do lawyers usually charge to hear what a client needs? I want to sit down explain the situation and see if the lawyer thinks they can do something, but…[Read more]

You can always fix later too. At least make sure part of your loan is variable and set up a 100% offset account on this as it will save you interest (esp with a large income).

What state?The people at land titles do a premilinary assessment and wouldn't like any one lodge without at least listing a valid reason. But they wouldn't check the reason. eg. Your ex-lover, Propertygirl could lodge one listing the family law act. But they would have no basis to see she was only a girlfriend of 1 week.You would have to apply to…[Read more]

propertyboy wrote:

Terryw wrote:

propertyboy wrote:

ledgend80 wrote:
From what i have read so far it does not matter with your PPOR but if you want to turn your PPOR into an IP you need to have your loan on interest only and have a 100% offset account so that you do not contaminate the IP loan so you can claim more against you tax.

Yeh…[Read more]

propertyboy wrote:
Thats the scenario I am in and the bank is not offering me an offset account so I am thinking of just doing that. If I dont intend to draw on the amount I pay down the loan, does it make a difference?

Just change banks.

propertyboy wrote:

ledgend80 wrote:
From what i have read so far it does not matter with your PPOR but if you want to turn your PPOR into an IP you need to have your loan on interest only and have a 100% offset account so that you do not contaminate the IP loan so you can claim more against you tax.

Yeh but if they pay down their PPOR loan…[Read more]

propertyboy wrote:
Yeh but if they buy a new IP they can just take out a new loan to finance the new IP and redraw from loan on PPOR and put in new investment propertys offset.

How would that be better? They would be borrowing to invest in an offset account.

Also it is a big IF. Using my strategy will not cost any more in terms of interest…[Read more]

This person is going to be renting their PPOR out. So the loan interest will be deductible. Even if they move back in after 5 years they could deduct the interest during this time.

It is best not to pay down the loan in case they want to buy somewhere else. If they had paid down this PPOR loan (now investment) by $100,000 and had no cash…[Read more]

No true.

You would need equity or cash anyway.

No benefit in having a split loan unless u wish to borrow for something extra .

The idea is to stop paying the loan down, but still geting the benefits of you cash holdings, hence the 100% offset.

good luck

yeah right. that is like saying restuarants sell food so they need people to buy it so give it to consultants who charge you an extra $10 per meal. This doesn’t matter because their fee is added on to your credit card so you don’t pay it with cash. In addition instead of paying $15 menu price for your fried rice they charge $20 so they can give…[Read more]

I am still confused.

What have you signed a contract for? to join their ‘program’ or to purchase the property?

Seems like you paid a fee to someone to sell you a (possibly overpriced) property for which they will also receive a large commission from a developer and to also organise a loan for you for which they may receive a commission and a…[Read more]

You should not be paying off the house but keeping your cash for future possible PPOR loans. A good way to do this to save interest is to use a 100% offset. Paying into the loan and redrawing will make you pay more tax so don”t do that.

No need to worry about selling yet.

A team such as ?
acting in a timely manner for?

If you take it off the market then you probably couldn’t claim interest costs during this period

If they need a loan to get into this property then you will be jointly and severally liable which means if he stops paying his share you will need to start paying or the bank will take back their security. The bank will then sell it and you will be left with any left over if any – jointly with the other party. If there is a shortfall the bank will…[Read more]