Start by reading as much as you can.Then try to get into a modest house as soon as you can. Don't aim too high, you just will want something to get a foot in the market. I suggest you go for the FHOG and stamp duty concessions etc, live in it for 6 months (and do it up a bit while there), and then move out back to mum and dads. You can claim all…[Read more]

Lenders will take into account loans you have guaranteed as well as loans in which you are a borrower – it is the same thing really. But it is still a good idea to consider buying in one name as you may need to guarantee the loan initially but as circumstances change you may later refinance and come off the loan – and that will increase borrowing capacity.

Also note that even if the trust is established and does nothing and has no income etc you will need to lodge a return.

You would get a second loan against property A and then use the cash from this for the 20% deposit and costs of property B and then borrow the remaining 80% from a bank. Banks for each property can be different and the loans won't be cross collateralised.If you just went into a bank they would recommend you take out one big loan of 105% of the new…[Read more]

No, you can borrow against that property. You just have to apply for a variation of security when you change titles

Asset protection can be gain on existing properties without moving them to a trust. The CGT and stamp duty would be too expensive to move them so I would just think about future properties being in the trust and talk to a lawyer about protecting the existing ones.

Trusts don't have directors, they have trustees. An individual can be trustee or a company can be (or a combination!).Whose name you should purchase in will depend on your situation but I generally recommend using only 1 name to own or guarantee investment properties as it reduces risk and may help you borrow more in the long run.

Yes MJ. The trust will need to lodge a tax return as well as the company.

You could get a 2 year option and then sell all before this time.

If someone else buys your husband's share, then you will have to pay them somehow because you are living in the whole house. You may be able to pay rent, but that would mean higher repayments. Another option may be to give up equity or future capital growth.

Yes bridging can be hard to get. The main thing is the time factor now – everything is slow at Christmas so they probably won't know for a while if they can actually get the finance so prepare for them pulling out at the last min and don't count on settlement occuring, but it still might. You may be able to terminate the contract and look for…[Read more]

Since you are going to rent out half, you cannot treat this portions as your main residence. You could treat the portion you are living in as the main residence and apply the CGT exemption to this, but you can only have one main residence so your oriiginal home will attrtact CGT if you do this. What you can do is to treat the one with the biggest…[Read more]

Seems like you may have told the bank too much.

Sorry, what state is the property in?

And what state are you in?

1.3 says they may (or you) terminate the contract in writing. Did they do this? If not you may still have a valid contract.If they did then it looks like the contract is over.The transfer doesn't really have anything to do with the contract.You had better see a lawyer asap – but they will all be on holidays till mid Jan.

I think Dan is based in Brisbane. Why not ask him,

Build.

Yes business loans are usually more expensive. Not sure why yours is a business loan now.You could have used a line of credit loan so you only pay interest on the funds drawn – maybe this one has redraw.in 6 months you will need to requalify for a new loan, so it will depend on your situation at that time. Bank Policies do change too and they seem…[Read more]

The tax Act doesn't specify a minimum lenght, only that it must have been your main residence before renting out for the CGT exemption to apply. see http://www.austlii.edu.au/au/legis/cth/consol_act/itaa1997240/s118.145.htmlTD51 contains info on what factors they consider when determining whether a place is one's principle…[Read more]