B

Interest is only credited monthly on most loans. So you can only pay it monthly. However, I suppose you could put an equivalent into the loan weekly, and this should save interest.

But if you are putting your money in a 100% offset account than getting your money in their quicker will result in interest savings without having to worry about…[Read more]

my goodness!

Terryw
Discover Home Loans
Terry@discoverhomeloans.com.au
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For starters you can have a look at
The Tenants’ Union of Queensland.
http://www.tuq.org.au/

Tenant’s unions advice tenants of their rights, so you should be able to find what the correct procedure is from their brochures.

Terryw
Discover Home Loans
Terry@discoverhomeloans.com.au
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I am not sure Steve is promoting that you buy any old property just because it is cashflow +ve by a small amount.

I agree it is a dangerous thing to do. I’ve seen some of my clients fall into this trap – buying a old property in whoop whoop and then the hotwater system goes = negative geared!

Terryw
Discover Home…[Read more]

Beverly Hills is a good area.

If you keep the property you can buy out your girlfriend (not refinance). Have you spoken to a solicitor? Transfer of property on the breakdown of a relationship, whether defacto or marriage, may result in no stamp duty payable.

Once it is yours you can then look at renting it and claiming expenses while living in…[Read more]

Which state is your property?

Terryw
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Terry@discoverhomeloans.com.au
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Originally posted by Qlds007:
Hybrid Trust

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
richard@tayloredfinancialsolutions.com.au
Looking for life cover – We Guarantee to beat any quote you have in writing.

Hey Richard, you forgot the “D”

Hybrid Discretionary…[Read more]

I think Mike from http://www.guardianpartners.com.au is not too far from you.

Terryw
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Terry@discoverhomeloans.com.au
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https://www.propertyinvesting.com/forum/topic/26702.html

Terryw
Discover Home Loans
Terry@discoverhomeloans.com.au
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Accountants get their deeds from another company. They don’t draw them up as they are legal documents. But they can offer advice on how to structure them in regards to trustee and beneficiaries etc.

No need to get a lawyer to look at it, unless you want to spend some more money.

Questions you should ask include who should be in what roles in the…[Read more]

Why do you need a LOC for expenses? Probably only would need one if you are spending more than earning – living off equity.

Generally an offset account is good as you can place all spare cash in there. This reduces interest – get the offset against your homeloan.

If you have equity in your home or investment, you can set up a LOC to access this.…[Read more]

Thanks Elka, that sounds correct

Terryw
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Terry@discoverhomeloans.com.au
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Hi

Yes, but I am not sure how it would differ to owning the car in your own name – you could still claim it anyway.

Tammy, why have you done it that way?

Terryw
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Terry@discoverhomeloans.com.au
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Some tax implications with trusts are:
Land Tax
Losses

Hopefully these are outweighed by the increased flexibility in distributions of profits to reduce taxes overall.

Terryw
Discover Home Loans
Terry@discoverhomeloans.com.au
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Its confusing isn’t it. I thought my eg did result in 50/50 ownership with the dad gifting a portion to CJ. I will have to think about it again and repost.

CJ, i think every lender will require that both loans be in both names. ie you will be responisble for the whole mortgage. But you could split them in two and you pay into one and mum into the…[Read more]

Hi kjs

Units in the countryside! These are not something I would ever consider myself.

This deal looks rather expensive, what are comparable prices like there? The yield is not that good, you may only be making a few dollars cashflow after tax.

6 units on one title may mean more difficult to get finance – ANZ maybe good for this, but they would…[Read more]

say its worth $500,000.

Just think of it as a sale of the property and then repurchasing it.

Assuming they will split it evenly, that means your dad’s share is worth $250,000, less his share of the loan of $50,000 = $200,000.

Same with your mum.

Now your dad will gift you this $100,000 of his $200,000 and you buy the same property with your…[Read more]

CJ, whats the place worth?

Terryw
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Terry@discoverhomeloans.com.au
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Its amazing isn’t it. There would be legal recourse, but it is difficult if the fraud has not been discovered straight away and the person used a false identity and has cashed the cheques and done a runner.

Its amazing that the Land titles office doesn’t record dates of birth too.

Terryw
Discover Home Loans
Terry@discoverhomeloans.com.au
Send an…[Read more]

One of my friends has done this, or something similar. She sold her unit to a friend, but kept the loan and the title in her name. Not sure why. Her friend pays all expenses including interest.

But this can be a problem if things go wrong. What if the title owner were to go bankrupt for example – a legal mess.

Terryw
Discover Home…[Read more]