I remember there were a few spreadsheets floating around the Somersoft forum a few years ago. You may find some over there.

VstarSince you have guaranteed some loan, they new lender will want to make sure you can afford to pay these as well as any new borrowings. Having a new structure wont really help much unless the new lender has a vaguely worded application form and they fail to do credit checks, or if they do, they dont ask too much.When lenders lend, they factor…[Read more]

Also at that time there was some quick capital growth as well as the relatively low purchase prices.

JohnIsn't that just the same as paying the loan, or part of it, with the LOC?

yeah, Scott is right. You cannot just add it on to the next years as your income will be different as will various other circumstances, so you will need to amend the return for the year in which in was incurred. Don't worry too much, it is pretty common.

I would ask your advisor why they want two people as directors. This only carries added risk without any obvious benefits. It may also hurt your long term loan borrowing prospects.As Richard said it would be good to keep the buy and holds and renos in a separate entity due to the different tax treatment.

Vicgirl – it is dated from the date of the contract for the land.

BrigantiIt would also depend if your 'business' is a company. If it is, it is a separate legal entity and you should have special loan agreements in case – otherwise the ATO may deem it a dividend payment and tax you on it.

As for moving existing properties into a trust, it can still work out worthwhile if you have a large home loan and a small loan on the ivnestment property with heaps of equity. Selling to a trust will effectively allow you to convert non-deductible debt into deductible debt. You then need to compare the interest and tax savings with what the…[Read more]

Having your main residence in a trust is not generally a good idea for the following reasons:1) Land Tax is payable2) You do not get a CGT exemption3) You may have to pay income tax (unless you can keep distributing to non tax payers) when the proeprty becomes positively geared4) Trusts cannot offset losses unless they have other income or a…[Read more]

This can get a bit tricky.It should be pretty straight forward in working out interest. Just assume you have two loans, IO and aportion the interest separately. Calculate it montlyeg, if you took out $7000 on 5th of Oct, you would calculate $7000 x interest rate/365 (for number days in year) x 26 (for number of days left in Oct). That would give…[Read more]

Hi AnrobelYes lots to research and very tricky too, just when you think you have covered everything, something else will pop up.I am based in Sydney (but am in Thailand atm).

A title search will tell you the owner, but not their contact details. But this may lead you to a copy of the transfer and that sometime has useful information such as the soliciitor they used – who may pass on a letter. For that matter, you may want to just try sending a letter to the house address to the owner, and they may have mail forwarding set up.

Those problems do not seem too serious, you may even be able to get it past the mortgage insurers.

Costs associated with selling would include CGT, legals, loan application fees (and exit fees?). Add all these up and see what you think when comparing these with the benefits to be received in the years to come. Trusts may also have to pay more land tax than individuals.The benefits could include less CGT in the future on selling, less income tax…[Read more]

HiYou would probably need to do the diploma in mortgage lending to get started. This costs about $2000, once you have that then you could apply to join the MFAA, but I think you may need an existing member to sponsor you. Staying in your existing job and doing broking on the side would be a good idea as it takes a while to build up the business.

Caveat loans generally a very expensive – they are meant as short term loans and and rate range from 4% to 10% per month. Commercial second mortgages are around 20%- 30% pa and they still want an LVR of 80% or less usually.Not sure what you mean by accountants who specialise? Your accountant may be able to help you find someone, but they would…[Read more]

Dee BeeSounds like a situation I am in too. Sounds like a good plan to me. Hopefully things will pick up again in the area by the time you are finished building.

I have a client that is borrowing funds from a person's superfund. Don't know if this is lawful still. He is paying 15% pa.

Hi juderHaivng a cashflow +ve property will only marginally help you getting finance. More rent helps serviceability, but you will still have to meet other requirements such as deposits/equity from other property. There are a few lenders out there that will lend 100% for investments.