Not sure, but you would be selling the option anyway. The option holder would then take up the option to purchase.

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

It would probably be helpful if you spend a while in the industry. You would get to see how it all works.

You wouldn’t be saving on agents fee – unless you were selling your own properties.

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

But, by having an option over a property, you will have an equitable interest in the property, and can therefore sell it yourself.

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

Hi Steve

The ability for attachments would be good. eg excel spreadsheets.

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

Asdf

That link was to the draft ruling. The full ruling is
TR 2002/18 Income tax: home loan unit trust arrangement
http://law.ato.gov.au/pdf/tr02-018.pdf.

Maybe one way to get around things is to distance yourself a bit futher from your trust’s property. eg, could a friend or relative rent the property from your trust and allow you to live…[Read more]

I thought the population had been increasing over recent years and would be likely to do so. Declining birth rates would be supplemented with people immigrating to Australia.

I also don’t know what he means by property grows at an average of 3% unless it grows at a higher rate. If you buy in areas with limited supply, you should be buying an…[Read more]

Opps, Sorry, I thought I read ‘Sydney’ in your post.

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

Has anyone tried to plot some figures into excel? Either those for or against?

I have been trying, but am not no excel expert – there are too many variables for me to work it out.

If anyone has, could you please email me.

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

I wonder when the vendor tax would be payable on a wrap?

At sale (ie exchange of contracts) or at settlment?

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

Putting it into an offset account so it can be redrawn for investments may not be the best way to proceed.

What happens when the money is taken from the offset and invested? The interest on your home loan increase – non deductible.

If you pay into your home loan and withdraw for investment, the net interest will be the same, but the interest…[Read more]

Make sure you get the licence appropriate for your state, or you could get into trouble.

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

I don’t think Options are common – especially on residential. They are more common with commercial type deals.

If you can’t sell the option, you will lose the option fee paid or you could just settle on the property.

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

If you come back here and start working at the same type of job as you had in the UK, you could probably qualify for a full doc loan within a short period.

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

Originally posted by cutegirl:

To Terryw:
Rates can be fixed on most low doc loans. The fixed rates can also be rather high on these.
Are you sure you cannot obtain a ‘normal’ loan? When factoring in rent from the new purchase, you may qualify.
Do you mean I can get the normal loan from the bank, not using Low Doc, but using standard normal loan…[Read more]

Luci’s suggestion sounds like it has merit. Moving out and renting could save you money – even if you rent next door. This money can be used to build equity faster. You should also still be CGT free on your initial property even if you rent it for up to 6 years.

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

I should also add, PMI have increased their maximum total customer exposure on PMI Low Doc facilities from $800K to $2.4 million per borrower!!!!

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

Maybe you are referring to this one?:
The 19th International Building & Design Expo
http://www.designbuildexpo.com.au/
5-8 June 2005, Sydney Exhibition Centre.

A free ticket is available here:
http://www.infosalons.com.au/Designbuild05S/register.asp

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

Better talk to a solicitor asap!

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

No. The lender would take into account only the annual money received from the annuity. on $100,000 over 5 years, it may be something like $23,000 pa.

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

Rob, Westpac used to lend on income from annuities. (I have never done a loan involving an annuity).

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