Usually 70 to 80%, but some take 100% (eg HSBC).

Terryw
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You cannot claim losses from a trust from your personal income. Any losses would be quarrantined int he trust until it makes a profit.

You may be able to get around this with a Hybrid discretionary trust.

Terryw
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Yes, doesn’t look like much profit will be left after all the expenses are taken into account. If you sell (sign contracts) 12 months or more after you purchased (signed contracts) you would get the 50% reduction is CGT, but this wouldn’t be much.

Maybe just hang on to it a bit longer.

Terryw
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Thanks Terry. Let me refresh your memory. Yep – that certain person was me. I was looking for a better rate, prudent I thought at the time to do due diligence against my current Lender…..however the results that came back were less money and higher rates from the 7 brokers that I canvassed, as compared with my Private Banker.

I suppose if…[Read more]

Tell them for further investment purposes, shares, or improvements on your home (not too much here). If you tell them property, they will want to see a contract of sale (you could get any old COS and present it to them if it comes to that).

Terryw
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Elkam

I think in most states you will find they have clamped down on this. Unless you have a prior written agreement (in Vic), then you would have to pay stamp duty again if you nominated a different person to the one on the contract.

Terryw
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If you have a job, then you should be able to get finance (if you earn enough etc).

You may also have the options of a low doc or a No Doc loan where you do not have to substantiate income.

Terryw
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Auspro is right actually. There is no CGT within the first 12 months, just income tax.

Terryw
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The $600K limit is for major cities as well, it is $500,000 outside of these areas (from memory, Sydney, Brisbane, Melb).

I also cannot see the point in having a separate contract as you would have to pay cash for the shed.

Terryw
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Originally posted by Dazzling:
Steve / PK,

I have read quite a bit on the forums about the dangers of X coll, and believe me, we are X coll’d up the Wazoo, but so far we haven’t been restricted or come across any nasty restrictions that is inhibiting our future investment borrowing.

What nasty things can actually happen if your finances are tied…[Read more]

Originally posted by samuri:
Originally posted by TokyoJoe:
Tokyo has had its first gains in prices in 15 years. The lowest point has definitely been met. Japan could be a great place to invest, but obtaining finance in country is very difficult – if impossible for non-residents. If you have the cash you could expect some good…[Read more]

Good point Misty.

I never thought about properties going down in value, but it is certainly happening in this market.

Terryw
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When you buy property, you don’t pay the deposit to the bank, but to the vendor.

If they ‘lend’ you $50K, they will not actually give it to you, but will take it off the price you have to pay upfront. At settlement the bank will lend you the remainder of funds

Terryw
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Originally posted by tbsuper2:
Thanks Terry.

What if I have two properties that are cross collaterised and each has a market value of $100,000 and each experiences an increase in equity of $10,000, Under cross collaterisation, I now have total equity of $20,000 to leverage against as opposed to seperate equity of $10,000 under seperate loans with…[Read more]

In Vic I beleive it is the aggregate value.

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I just came across another post related:
https://www.propertyinvesting.com/forum/topic/22939/2.html?sortfield=&sortorder=
See the one by purple kiss

Terryw
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(ii) CC is not so terrible, but it can be a pain in the butt if your currently lender stops lending to you. If you have equity but they won’t lend, what would you do? Most would want to go elsewhere, but if everything is cross up, you can only go elsewhere after painful unravelling.

You can still borrow the same amount without cross…[Read more]

If you sell within 12 months there is no discount. So the gain less some expenses will be added to your income, and you will pay tax accordingly. Not sure what the % is for $30K.

If you use a company, then the tax rate is 30%. Consider a trust.

If title is in 3 names, then all 3 will have to apply for finance and each will be liable for the…[Read more]

Or, use an independent buyers agent.

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Why not just buy on your own? This is probably a less risky way.

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