I just wrote out a long reply to a similar post here:https://www.propertyinvesting.com/forums/getting-technical/finance/4330095?#comment-199355It may apply to you too, or some of it.Selling and buying again costs a fortune.Since you are going to be having such a large loan on the new one you may want to consider doing something like moving in and…[Read more]

There are a few ways you could do it.1. sell to a trust. Stamp duty would be payable, but the new full loan would be deductible. The trouble with this is any loss would be trapped in the trust and cannot be used to offset personal income.2. one partner sell to the other. Stamp duty may be payable, depending on the state. Usually it is only stamp…[Read more]

i would say generally no. You want to buy something with a large component of land. Land appreciates while the structures on them slowly depreciate. So I avoid apartments altogether.But sometimes you may get a good yield out of an apartment and they can still go up in price over the short term.

this looks like them. they have had a change of name http://www.mdplaw.com.au/

Probaly like this.$200 pw is income. = $10,400 paYou will be able to claim expenses too. This will probably depend on how much of the apartment you are renting out as a percentage. If you are renting 1 room of a 2 bedroom apartment, then you could probably claim half of all expenses including:interestrates,insurance,body corp feesaccounting…[Read more]

I would suggest you borrow 80% which is the maximum possible without LMI. Use an IO loan with the extra cash in the offset account. Best to probably split the loan too into one for $255,000 and one for $165,000. Put the offset on the $255,000 portion and place $165,000 in this. Make sure it has redraw too.This would still lower you repayments as…[Read more]

Board doesn't have to be declared. But this is supposed to be limited to money for reimbursement of expenses and food etc.

They are predicting rates will rise till 2011. So if that is what is holding you back it could get worse. Rising rates often means rising prices (in general and property prices).

DucksterHe probably got the run around from the wrong staff. Are you saying this was intentional. I don't think they stole his money either. Sounds like he was trying to transfer into his offset from another bank and they didn't accept it.This is hardly fraud or stealing. To suggest it is is ridiculous!

Wow, a bank manager that suggested you avoid cross collateralisation! They are rare.

It is hardly robbery either. Just a stuff up. These things happen.

You should get some tax advice on trusts before you make the decision. The mortgage broker can advise on the loan side of things but not tax. You really should look at the legal side too – but it all costs. There are many things to consider such as state revenue issues such as land tax, income tax, CGT, legal responsbilites, corporations law,…[Read more]

Misguided loyalties cost a fortune.I have a client in the same boat. His accountant is hopeless, but he can never leave because of the friendly relationship. The accountant is not even claiming one property which is an investment and is missing out on heaps of deductions, but my client does nothing. I point this out and he says he will check, and…[Read more]

Yes you could just make up a power of attorney form and no one would know. I had even purchased 2 properties in my wifes name with a power of attorney in the past – but I actually gave the bank the wrong document and they never checked it.

Vacant land can be an investment – even without the bill board. You should be able to claim all associated costs with the land if you intend to build an investment property on it, for example.

Andrew K wrote:
The ANZ set up a mortgage offset account against one of my property investments.Behold, when I attempted to transfer money into it from another bank, the ANZ rejected the funds and then charged my bank a fee for the magnificent service of rejecting my money.They even sent me a letter (on their letter head). When queried, the ANZ…[Read more]

You could approach your current lender or use a broker to approach them or another bank

You could find the stamp duty requirements in the Duties Act, or Stamp Duties Act in Vic. Look on the State revenue office site and you should find something too, but it is probably similar to other states.I have used options down there and used McDonald & Associates.

In today's paper they were saying  – or guessing – that rates are going to peak in 2011.http://www.smh.com.au/business/interest-rates-tipped-to-peak-in-2011-20091208-kgxj.htmlThe estimate was 1% more than at the moment. so around 7%. But I would factor in much higher, say 10%, and see how the figures look then. Also assume you have a vacancy for…[Read more]

Not many would understand options. It would also cost them more in terms of time, investigation and legal costs.