That is very small! The unit i mean. St George may be able to do it, or there are private lenders that will lend for these, rates are about 8% though.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

The ATO does not like people renting from their own unit trust, see:

TR 2002-18 – “Income tax: home loan unit trust arrangement”

Available from:
http://law.ato.gov.au/pdf/tr02-018.pdf

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

Beware of fixing. This can make changing banks or even selling your property costly if rates move.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

BTW the interest in the above scenario should be deductible as you have borrowed money to purchase a income producing property. Please confirm this with your accountant.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

IP valued at $500,000, loan $100,000.

Husband buys the wife’s share for $250,000 and borrows the lot. $200,000 would need to be borrowed with this money given to the wife who then uses it to pay into the home loan/offset.

Watch out for CGT – may be low if wife is not working, and stamp duty. Stamp duty may be avoided in some states on transfers…[Read more]

It probably oculd be deductible, but you may lose your CGT exemption if you claim it. Better talk to your accountant to make sure.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

FWIW, I agree with Celivia, If I was selling, I would only accept a reasonable deposit -about 10%. This is to make sure they are serious and to allow me easy access to the deposit if they do not settle. You could legally chase them for the rest, but that would be a hassle. Much easier if it was just given to you from the trust account.

When…[Read more]

It may be better to just rent out the whole thing, and let the tenants do any subleaseing of the granny flat. You renting out hte flat when it is not approved may result in you not being covered by your various insurances, and this could cause problems.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

You just have to approach the owner and put you offer to them. If they accept it, talk to your solicitor about getting a option contract drawn up.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

Steven, that is a good rate. Would this product be available for owner occupiers only? I did one a while back for someone with a small blemish and the rate ended up over 10%.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

Also, If there is a loan on the property, this will also have to be renegoitated. There may be fees and another application with proof of income etc would probably be required.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

Originally posted by stran:
Hi,

I’d like some recommendation on good books to read to get an understanding of the different trusts, how they can be applied to investments especially in Australia.

Tanks

Tanks

Try http://www.gatherumgoss.com and look for the book, Trust magic, costs about $99. but is worth it.

Terryw
Discover Home Loans
North…[Read more]

I have used Mcdonalds and Associates. Don’t have the details handy, but they are right in the city and are very profsssional.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

Oops. Sorry Steven and Simon.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

Hi Devil

It is possible to get loans for some of the big franchises. Maybe around 60% is possible for some like seven eleven, gloria jeans etc.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

I have been looking at Condo units, starting prices seem to be from about 600,000B (A$20,000) up. They are not too bad, I have rented one, and it would go for about 900,000B (A$30K). I would be content to live in this one for a long time.

Rental yields are not all high, they would be around 8% or so. Interest rates are around 6-7%, but I have…[Read more]

Hi Everyone

Thanks for the replies, I am still in Bangkok and have been looking around, and talking to people. I have heard a few bad stories such as this one:

Western man meets Thai girl, he decides to retire and buys a house for 23,000,000B (nearly $700,000) and a mercedes benz. Since he is not a resident, he buys it is his girlfriend’s name.…[Read more]

Good news Simon.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

Take any longer than a normal purchase. Banks will want to see the trust deed and have their legal people ‘review’ it, so maybe an extra day there.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

YOu may be able to get the vendor to rescind the contract and you sign a new one with the new names.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au