You will have to ring a few valuers in the area that the property is in and ask them if they are on NAB's panel. Then you need to contact your loan person at NAB and tell them what you are going to do and confirm they will accept it. If they won't remind them it is NAB policy.Just realised you may be applying for more than 80% loan and would…[Read more]

I had a similar issue with NAB recently and was able to order my own valuation with a valuer on their panel and then had it reassigned to them. My valuation come in higher and they based the loan on that.

try looking at the various tenants union websites. do a google search for your state.

I would think it is worthwhile getting a LOC to borrow to pay expenses. Have a look around at other banks – i think a LOC is the best option for this sort of thing as you can keep borrowing small amounts and have access to a cheque book if need be. Try NAB as they have the lowest rates of the banks at the moment. I wouldn't go calling it a…[Read more]

Thats the one. There are heaps of different calculators on the http://www.investmentpropertycalculator.com.au website

Have a look on the somersoft forum as there are a few ones there you can download. I also provided a link there to an excellent website with heaps of freebie downloads – i can't remember it now though sorry.

HiI would suggest you do the sums on 3 options:1. sell none2. sell 13. sell 2.And just see how it will leave you before and after. Then you have to weigh up the difference and see if it is worth the costs and hassle of selling.There are also other options.1. Sell one and immediately buy another. This will hurt with CGT and Stamp duty but will save…[Read more]

I read it that he owned a home, and then two houses in a trust and assumed the home was in individual names. But it could be a trust.

hi DI think you will find the banks are required to give you a bit of leniency, especially with the owner occupied one. Try to ring them again and talk to the right section. They are generally ok as long as you keep them informed and tell them how you are going to get out of the problem – such as selling one property. If you have equity this will…[Read more]

burnt by accountants and property developers wrote:
My recommendation: Stay away from Chan & Naylor. An accountant now in their Norwest office lost all of my investment.  I won a court case against the "company" he operated (and hides behind) over 3 years ago and still have not received a cent from him. At the date of writing this post, an…[Read more]

Its not a matter of one or the other but both!

Doesn't really matter when you withdraw. the sooner the better. WOuldn't be messy if all the money withdrawn was used for that property. If it later becomes an investment all the money was borrowed for that property so the interest would probably be deductible.check with your accountant first.

I would suggest you avoid cross collateralising the properties. Keeping them as separate banks will help this. I also suggest to keep a bit of the LOC for extra costs or for emergencies.LMI sounds costly, but when you look at it over the life of the property it is insignificant. It is also tax deductible.So if you were to buy a $250k property, I…[Read more]

$720,000 x 80% = $576,000Existing loan is $520,000So you may be able to set up a LOC for $56,000 = this will keep the LVR to 80% and avoid LMI.You then use this as deposit and costs for the next one.Keeping the LVR to 80% on the next one may be hard as the max purchase price would be around $224,000.This would allow 20% for deposit = $44,800 (from…[Read more]

The ATO isn't really concerned about hybrid trusts – just the uncommercial use of them.

just do your research first

If 2 houses are cross collateralised, you basically need the banks permission to sell one. This is because the bank holds the title as security. So they will want a valuation on the remaining house to see if it is enough to secure the remaining loan.If you had 2 houses with the same bank, but not cross collateralised then you don't need to release…[Read more]

Thats pretty much it.Selling could save you years of undeductible interet – but cost you stamp duty, CGT, agents fees and loan fees.Another option is to sell the home and live in the investment – avoid CGT.You may also be able to sell your half of the house to your spouse, or sell the whole place to a trust you control. That way you avoid the…[Read more]

There are plenty on the forum here. try QLD007

Charles 1 wrote:

JacM wrote:
I think a question a lot of people have in their minds is: should I buy every property in a trust…. even if I end up with say, only 3 properties?  Or should the first couple be in own name and then go into the world of trusts if planning to go larger?

Interesting article here as to why you may want to use a…[Read more]