Its not hard, but takes time to build up enough clients. Good idea to work somewhere else initially while slowly working your way into it.

with bad credit it will be extremely difficult to obtain a credit card or personal loan. What about getting a loan in a partner or friend's name. You could get one credit card, do a cash withdrawal and pay your loan out, then get another with 6 months interest free and balance transfer it over to them.

It is possible, but you will need funds to complete (obviously!) so you could arange the settlement of the purchase after the sale, or cross collateralise (messy) or maybe just get a 100% loan for the next. It will be messy and costly just to increase a loan for a few weeks before paying it out.

Yep you can. In fact it is probably a good idea to go IO with a 100% offset to keep your loan high, so if you ever move out and rent your house the deductions will be higher.

Cales post covered most of what the banks look at. These days they often have automated systems, esp for credit card and personal loan apps, where they have points to various thing such as:- number of enquiries in last 12 months- number of address- last known employer matching currentetcIts a good idea to try to keep the number of enquiries to a…[Read more]

I've got a copy which I picked up for $2 in one of the Coop bookshops about a year ago. I am still only halve way thorugh though. Its not a bad book from memory.

I think it would be a good idea to look at using some of that lazy equity to invest in various areas such as shares, and maybe even more property. You have an overall low LVR so you are in a safer position than most people and you have lots of potential to generate more money for your family.

The ATO will still look at the purpose of the funds. You have increased one loan to pay down another, so the end result is the same. Nothing will have changed.

Millions, yes you may have to pay CGT when transfering a share between spouses. There may also be stamp duty, though in some states, like VIC, this may be waived.

If you and your wife own the house jointly, then you could only sell your share to her. She couldn't buy her own share. ANd this would effect the tax deductibility of it – effectively halving it i guess. Richard's suggestion sounds good.

Tax deductions have to relate to your earning capacity. If you only have one or two properties, then you probably aren't in the business of investing and probably couldn't justify spending $10,000 pa on a course which relates to your making a loss of $xx per year. I would like to say you could claim it, but don't think you can – unless maybe you…[Read more]

What about a 100% loan with St George which can be IO. They also have a new product which is 100% LVR and no LMI but a higher rate.

And just remember that a business name is just a name, not an entity. So if you just register a name with fair trading, it is the same as buying it yourself – it is your name that will go on title.You should be looking into setting up a trust, usually a discretionary trust. With trusts, the property will be purchase in the name of the trustee,…[Read more]

Hi DobbyI don't know much about unit trusts, but think you are correct. I think the CGT reduction isn't available for unit trusts, but is with discretionary due to the flow through effect.WIth the other, I think you may not necessariy be correct. The unit holders are able to borrow to buy the income producing units. So they could personally be…[Read more]

I personally know John Vincent of John Vincent Accountants (wonder where he got that business name from?). I think he is in Castle Hill. ANd then there is Mike at Bella Vista, near there somewhere?? http://www.guardianpartners.com.au

You can refinance during construction with some lenders – I can just done one for a client. But in your case you may not have to. Depends on who your current lender is and the equity available etc

And don;t forget if your offer is accepted, you may have a contract formed.

Hi OldjeremyI think it would be a good idea for each couple to put in 10% of the deposit and borrow the 80% securred on this property only. You would not want to cross collateralise your own home when there is another party involved. Having a third lender would help distance things too.

In an ideal world your LOC would increase in line with the value of the house, but that is not how it works. You will need one loan, and then wait for the value to increase. Then you can apply for a separate loan, or a split. This can be a LOC or standard IO loan, but would be separate to the other for tax reasons. As the proeprty value increases…[Read more]

The benefits are many including asset protection and tax reduction.