Originally posted by Damo:
Thanks for your encouragement Eric,

Sorry about the confusion, by multiple PPOR I meant, I would buy one as my PPOR and then sell it to buy my next PPOR, otherwise I would be slugged for CGT.

Damo.

The ATo can still slug you with CGT if they think you are in the busines of doing this. It would take then a while to…[Read more]

What a challenge. Good luck with it all and keep us posted.

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

Principle Place of Residence.

The only way to avoid CGT is to make a house your PPOR. If you then move out and rent it, you can still claim it as your PPOR for up to 6 years. If you sell during this period it will be CGT free. You can only claim one PPOR (per couple), except for a period of 6 months when you may count two.

Terryw
Discover Home…[Read more]

http://www.bantacs.com.au is located up there somewhere (??)

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

I do not like country towns myself. Some people have made good capital growth (eg 100% over the past year) and good cashflow as well. However, good growth in recent years may mean no growth for many years to come.

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

Banks do not like third party guarrantees for obvious reasons – they would have to evict and sell your mum up if you default.

I know of one lender that will do this, depending on LVRs etc. Both yourself and your mum with have to take separate legal adivce. Rates are around 8%.

However, a better option would be to do what Richard suggested. Take…[Read more]

Richard

Just wondering why you would not do a LO in QLD? Is it the tenancy laws?

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

Before you sack the agent, it may be wise to look into rents in general in your area. The one next door may be unusually high.

However, it is your call, you are the boss. If the agent is no following your instructions, then terminate the agreement with them. $50 pw is a lot of money.

BTW, each proeprty an agent manages adds about $2500 to the…[Read more]

Commission is about 2% to 2.5% but you could vary this. eg set a price you want, and say you will only pay 1% for any sale below this, set a price a bit higher and offer more – an incentive for them to sell it at a higher price.

Also beware of signing on for 3 months. This is a long time, and some do not perform until the 2nd month when they…[Read more]

There is no doubt some are ‘scams’. I went to one years ago that charged $5500, they had a money back guarrantee so I took the opportunity to get my money back.

However, some of these courses can be useful – if you implement what you are taught.

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

Also check the size. Small units are hard to get finance for, and this can limit resale price.

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

Robert

You asked me to explain how a cashbond improves serviceability.
I did this.

You then insult me and claim I tell my clients “these high-risk, and sometimes illegal, crazy structures.”
I don’t. I merely explained a strategy that one financial planner has been using successfully for years.

I suggest you calm down and stop trying to defame…[Read more]

Originally posted by Terryw:
I had better start a new topic for the cashbond ‘debate’

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

I have made a new thread at:
https://www.propertyinvesting.com/forum/topic/17263.html

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

I don’t understand what that post was about.

It appears you just try to attack anything I write.

You still don’t seem to be able to understand this idea of investors club. There are no fixed time rules, seven years is just the time it takes for the average proeprty to double (their figures). BTW, I wouldn’t say year 8 is the start of someone’s…[Read more]

I had better start a new topic for the cashbond ‘debate’

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

Rob, I Don’t beleive there is any difference to what I initially wrote. Maybe your perception of the concept has improved.

Of course this strategy would not work at the start of someone’s investing life. That’s why the investors club were saying to wait until year 8 to withdraw equity, that way the property would have had 7 years of growth behind…[Read more]

There are perfectly good reasons that someone might want to offer a rebate.

eg. repairs to be completed before settlement or $X comes off the price.

eg. must settle by XXX or $xx comes off the price.

etc

How can these be illegal?

Not informing the lender, MAY be a different matter.

Terryw
Discover Home Loans
Mortgage Broker
North…[Read more]

Hi Rob again

I was talking about two different strategies. The one above by me was concerning the Navra method.

The other one by the investors club (which is now no longer current) involved buying one property per year and then living off equity in year 8. Of course one would be working during the period when you would be buying proeprties -…[Read more]

Sounds like you are asking for a rebate. As far as I know this is legal to do, though many solicitors do not like it.

You may be going into a grey area if you were to tell a lender you are paying a higher price for the property and then obtain finance on this higher price.

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

I would doubt that you could depreciate buyer’s agents fees or even claim them over 5 years like loan expenses.

Any accountants out there?

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