check out http://www.metropole.com.au for a group that project manages these sorts of things for you.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhl.com.au

I think Richard (QLD’s 007) recomended against doing L/Os in QLD because of the tenancy laws up there. It is probably very hard to make the tenant pay for rates, insurance, repairs etc. Or, it may be easy to get them to do so initially, but if they were to take you to the tribunal down the track you would probably be forced to repay the tenants…[Read more]

I agree with TMA!

Get a pre approval first, this lets you know you can really afford it and speeds things up.

And use a solicitor. check with them before signing anything.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhl.com.au

http://www.mintgroup.com.au

http://www.strategicwealthmanagement.com.au

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhl.com.au

Nehal

Is it good that you are planning ahead!?

To get a loan you will generally need a deposit and will certainly need a job.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhl.com.au

Yes there are proeprties with a twist out there in Sydney, very small units near CBD for about $130,000 that rent for about $250pw. But they are so small it is hard to get finance.

But it is also possible to get ‘normal’ properties which you can make positive geared.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhl.com.au

Australian and USA would have a double tax agreement, so there would not be double taxing. Any income tax paid over there would be taken into account.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhl.com.au

Is the house intended to be an investment property? If so, I think there was a tax ruling or tax determination on this that said deductions were possible.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhl.com.au

Trusts are worth looking at in my opinion. But don’t overkill. I have seen people spend thousands on elaborate structures to save tax, when they don’t make any money!.

A trust can cost as little as $137 to set up and nothing to run. If you are just buying properties, the tax return is easy, and you could do it yourself if necessary.

Trusts can…[Read more]

You had better get some advice. It may be possible to sell the unit CGT free. You could then use the proceeds to pay down the loan on your new main residence, saving interest. Then you could borrow to buy further investments with tax benefits.

You have to weigh up the costs of selling with the costs in extra tax etc of owning the flat as is.

If…[Read more]

I get these figs:
After 5 years, ppty worth $161,051
less purchase costs and selling cost = $51,220 capital gain

After CGT, this becomes a profit of $38,800.

The property would probably be cashflow neutral but negatively geared, so maybe a bit of tax would have been saved during this time as well. If rents increased with inflation, maybe a small…[Read more]

MY WORST MOVE
Sold negaitve geared proeprty to buy ‘cashflow positive’ properties. I would have made far much more by holding on.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhl.com.au

Well done!

So have you finished the Advanced diploma now?

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhl.com.au

Last year at least 2 of our clients had found postive geared properties in Sydney. You just have to look for something with a twist.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhl.com.au

also consider http://www.gatherumgoss.com

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhl.com.au

I think you will only be allowed to have a loan at the same amount or less than before and no more than the previous LVR. Any increase will result in a retesting of serviceability.

You may not have to settle on the same day for the sale and purchase. The sale can settle first with the bank holding the loan open for up to 3 months – depending on…[Read more]

I have seen a few clients do this, but only between spouses. It can be done when there is a court order, on separation – without stamp duty and CGT. In NSW and Vic, it is also possible for spouses to transfer to each other for $1 stamp duty. I don’t know, or think, it would be possible with other family members.

It can help when one of a couple…[Read more]

Originally posted by The Mortgage Adviser:
How can the ATO slug you for renovating your PPOR and selling before buying another if you live in each property while renovating?

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

If they think you are doing it as a business, they can. It would depend on how many times…[Read more]

Just think long term. Having properties in your husband’s name may save you a bit of tax now, but these properties will become positive geared eventually, and if he is on the top bracket…..half will disappear. Also what would happen if you had to sell one of these? He would have to wear the capital gain on top of other income. Having a trust can…[Read more]

And, don’t quit your job too soon. It makes it harder to get finance without a job.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhl.com.au