Just chose a loan without high exit fees!

Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

Sure, but if non residents ever receive income they will be required to pay tax, and there are different tax issues for non residents.

Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

A lot of people do seminars, but take no action. The presenter cannot be held responsible for this, surely?

Maybe it is like trying to lose weight. You can read a book, do a course, but if you don’t try, you won’t succeed.

Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email,…[Read more]

I would imagine that would have to be in the contract for you to be charged. If not, how could they justify it?

Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

You can only claim one place as your PPOR at one time (except for a period of 6 months were you can have two to take into account the overlap between selling and purchase).

If someone is going to buy a new house to live in, they can chose which one to claim – usually the one that is growing the fastest.

if you are renting your property, the…[Read more]

That is a good situation to be in, but it is too late to set up a trust now. Better seek proper paid advice, maybe from a few accountants.

Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

You have t be very careful with making a written offer.

In Australia contracts involving land need to be in writing (eg. CONVEYANCING ACT 1919 – SECT 54A).

There is no requirement for this contract to be a properly drawn out contract. As long as certain requirements are met (property identified, parties identified, and price = the 3 Ps), the…[Read more]

I’d sent the bill back to the tenant, they caused the breakage.

Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

I owuld be inclined to put off the payment of the HECS debt till a later date. Putting the money in a savings account won’t make much difference, but all that money oculd add up for a deposit on a house, helping you get into the market quciker.

There is also the possibility, tho slim, that the HECS scenario will change at a later date (eg. if…[Read more]

I think it wouldn’t be legal either, but a way to make it legal may be to make the rent at $240 pw and then give them a discount of $50 pw if they pay by the due date.

A lot of lenders, private type, do something similar. They say the interest rate 11%, but if you pay within 2 days of the due date it will be only 8%.

Terryw
Discover Home…[Read more]

Yep, good idea.

Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

Jaffa

Get Dale’s book. It is written in a very easy to understand manner.

Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

If you are just wanting to increase an existing loan, you must go through the lender. If you order your own valuation, it is unlikely to be accepted. If they do accept that valuer, it may still have to be reassigned = another fee.

Can you tell us who the lender is?

Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to…[Read more]

If you are just wanting to increase an existing loan, you must go through the lender. If you order your own valuation, it is unlikely to be accepted. If they do accept that valuer, it may still have to be reassigned = another fee.

Can you tell us who the lender is?

Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to…[Read more]

Yes, i have set up 3 online using http://www.lawcentral.com.au
You can join for free and go through the motions of making a trust, and only have to pay at the end if you want the finished product. Do this and see how you go, there are lots of useful tips along the way.

Then decide if you need one set up by an accountant.

Another site is…[Read more]

Originally posted by grant7:
Hmmm,

So if your projected income is some capital gain from selling a house the profit might be 100k. But the after tax profit after 50% CG dscnt and all other deductions might be 30k? Or less if a trust involoved.
So on your tax return its 30k.
So is your Lodoc income 100k or 30k???

Thanks
GRAnt

Well, it is…[Read more]

You can always ask the lender to use a particular valuer too – especially if you had a bad valuation with someone.

I recently had one clients property revalued at $150,000 more in 3 months – with the same lender, all because we asked that the previous valuer not be used again.

Terryw
Discover Home…[Read more]

I think it may be possible as there is a double taxation agreement. But with the low intreest rates there, and higher depsoits required and the higher rental yields, would your property be negatively geared?

Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with…[Read more]

Hi

If you have a look at a few Low Doc declarations they are all slightly different. Some ask for your income this current financial year, while others don’t specify the year. Some ask for net Profit before tax, but others just ask for personal income.

In the end, the lender will usually accept whatever you put down. What you have to worry about…[Read more]

There is a lot of misunderstandings regarding trusts.

A trust can be setup in a matter of 10min on the internet from very good law firms. Most solicitors do not draw up your deeds themselves, but simply purchase a deed from one of the companies specialising in trust set ups. What the solicitor can do is to give advice on the way it needs to be…[Read more]