Well, if you knew the valuers on the bank’s panel you could order your own valuation, but it would have to be reassigned to the bank – for another fee. ANZ is the only major bank that lets the broker order the valuation directly.

Terryw
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Some have a new trust for each property. It all depends on your risk tolerance i guess. As you get more properties in one structure the risk increases. But have multiple structures will cost more to set up and more to maintain.

Terryw
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With that much equity your mum could have given up work ages ago.

Terryw
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Lenders will not accept your valuations, they must order them. So it is best to get a rough idea from agents etc, and then ask your bank for an increase (or separate loan). It is best to have a separate account for the increase, for tax reasons. maybe a LOC, depending on the rate etc. Generally you can access up to 90% of the value, so work out…[Read more]

Sounds like the standard Macquarie low doc or no doc. Mac are pretty efficient-service wise and good with construction. I use them a lot for low docs.

Terryw
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Originally posted by DaveA:
thanks for that…
so how would a LOC be set up… ie would it use built up equity from other propertys or is similar to a personal loan where there is nothing attached to it?

so basically if 95% is a loan, and stamp duty and other costs are put into a LOC, basically all you need is your deposit (but if u had a large…[Read more]

Hi Matthew, don’t think that will cut it.

One of my clients tried an exemption as he kept bee hives on his property and tried to claim he was a primary producer – but the process wasn’t as easy as he suspected.

Terryw
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I don’t know of anything except buying in different states or maybe different names (eg family members)?

Terryw
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Originally posted by depreciator:
I suspect it’s not all that hard to find a term deposit rate at a bank that is higher than 6.25%.
Scott

Tax Depreciation Schedules
Australia wide service
1300 660033
scott@depreciator.com.au
http://www.depreciator.com.au

I think ING direct offers around 6.50% atm.

Terryw
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Wasn’t Westpoint a company which was offering these sorts of things? Collapsed owing millions.

Terryw
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Yes you have to be careful. One lender I spoke to the other day said they didn’t have an offset, but had free redraw which was the same thing. It is not!!

Terryw
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You would probably want to recoup your money within 12-24 months. Also factor in any increase in value this would add (if any) and any tax savings.

Terryw
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They generally earn a lot and buy cheap properties, thats how.

There are ways to extend your borrowing capacity, but you have to plan from the beginning. You will also need deposits or high growth, or a combination.

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Guarantees are next to worthless. If it is a company, what happens if it goes into administration? If there are personal guarantees, what happens if the person has no assets or goes bankrupt?

12% pa is also not much, there are managed funds that have average over 20% pa for the past 7 years! Some last year have returned 76%.

Terryw
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Originally posted by wealth4life.com:
Hi Dave,

There are 28 FREE eBooks on http://www.apin.com.au written by julia hartman of bantacs CPA there is some trust stuff there all FREE no catches look on the left hand side and go to accounting eBooks …

D

Wow, lots of great books on tax there. Thanks D

Terryw
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Dave, not sure what you mean about manipulating the government!? There is a lot to learn regarding the taxation of trusts. for example there are many different types of trusts and these are taxed differently. There there are the family trust election rules, the rules preventing the trading of losses (forget what this is called) and the legals…[Read more]

There is another great book on trusts called the “Trust Structures Guide”. Costs about $350 though! Renton’s books are pretty straight forward. Very plain and conservative stuff. Chris Batten supposedly has a new book coming out soon on hybrid trusts as well.

Terryw
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I have purchased a few properties in my wife’s trust using a POA to sign. I believe in most states the POA has to be registered at the land titles office if you are signing for property related transactions. I think you just sign your name and write “as power of attorney for”.

Terryw
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Generally I hear it is around 2.5% in Sydney

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They basically lend you the deposit. It is up to your negotiating skills as to the terms – eg. how much, what % rate (if any), term, IO or PI etc.

Terryw
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