It would be extremely difficult to find a commercial lender willing to lend more than $20k to $30k unsecured. Far too dangerous to them.

I am thinking to buy some of the banks. High yields at the moment with lots of potential upside. I may wait a few days though as it may go lower

Generally the main residence and 2 hectare surrounding it can be CGT exempt. I think the exemption can apply to land on a separate title if it is next door. Transferring ownership to a different name (incl another entity) will be the same as a sale so CGT would apply (unless the main residence exemptions can apply) and stamp duty.If he keeps in…[Read more]

Many issues.Transfers of land are assets at market value – for both stamp duty (OSR) and CGT (ATO). Is the current owner willing to borrow money with you? If so you could transfer a part of the land to yourselves (or your entity). All names would be on title and then you could borrow. But all names would be borrowing.OrYou could transfer the land…[Read more]

nguli wrote:
Hi All,I am looking for someone with a legal background or similar to help explain the new QLD building boost to me in regards to newly renovated properties.  The link is below:http://boost.treasury.qld.gov.au/investor/faqs.php#heading-2809159538It says that new homes are eligible and then says this about new homes in the…[Read more]

and that $200k, consider gifting it to a discretionary trust.

I think you may have forgotten to take into consideration stamp duty in your plan. Flipping is good in theory, but I haven't seen anyone do it – actually one person I know did after a reno and maybe about $20k.I am a solicitor and investor and exmortgage broker and live in the CBD if you want to meet up.

What is the irrevocable authority for? I would be concerned about that.

walt_k wrote:
Hi Terry  – Building in W.A.    Loan is split 50/50 with my partner and I.  All costs associated with this property have been split 50/50.

Get some advice on this as generally Only the name on title will be able to claim deductions.

Walt, could you sell the house and then buy land and build again with the same profits?

Walt,What state is the house in? It is not so easy to change names on title, although it may probably be stamp duty exempt from one spouse to 2 you would have to change and reapply for the loan on the property.

probably calculated on floor space used.

Yes.But this is a very rough guide.Another rule of thumb is 5 times annual income = borrowing cap

For a different type of answer, see:TR 95/33 Income tax: subsection 51(1) – relevance of subjective purpose, motive or intention in determining the deductibility of losses and outgoingshttp://law.ato.gov.au/atolaw/view.htm?locid=%27TXR/TR9533/NAT/ATO%27This Ruling considers the decision of the Full High Court of Australia in Fletcher & Ors v.…[Read more]

A friend bought an apartment in Indonesia. Later found out it wasn't in his name. He has spent 6 years trying to get it back and has paid for it again in bribes and fees etc and has a Supreme Court ruling that it is his, but still cannot get it into his name. I went to Jakarta with him to sort it out, but could not get a straight answer from…[Read more]

Here is an example:Urinate 100ml into 1L or water. Then immediately take out the 100ml of urine. Would you drink the water?

Yes, I miss being a broker!

I've seen several people 'loose' properties overseas!If you want to invest overseas you should know the language, tax and laws of the country you are investing in. Be prepared to pay much higher accounting fees in Australia too as few accountants understand the tax implications surrounding property overseas.

ferdinandch wrote:

Terryw wrote:
I don't think luck had anything to do with Nathan's success. The market has also been down while he has been buying. It must be knowledge and skill then!

I agree with you Terryw, what I was saying is: http://binvested.com.au/how-to-build-a-10-property-portfolio-in-3-5-years-realistically-on-50000pa/ Nathan…[Read more]

ferdinandch wrote:

Shape wrote:
Hi Oz- Yes the bank treats equity like cash; but make sure they do NOT x-cross your loan unless you really need to; so

Hi Michael, When usually you really need to cross collateralise your property? Is it the case when you paid off your PPOR mortgage, and need money to invest ?

Shape wrote:
Regarding rent;…[Read more]