Hugo

If after all expenses your trust had $13,000 profit, this would need to be distributed to beneficiaries who would then add this to their other income and pay tax at the normal rates. If you had two adult children who were not working, then you could probably distribute $6000 to each and they would pay no tax. You could then distribute the…[Read more]

Based on the common garden variety No Doc, you could get 65% of value of your two properties less your current loans = $193,000 approx.

If you are using the funds for another property, you could also get 65% of the value of this property.

Good luck

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

Glenn

Yes it would be very hard to start out on your own without any knowledge of the industry. Getting some experience inside a lender will help you later on when you become a broker, as you will know what they look for and how to get loans passed. So i sugest that route initially. Then maybe join a bigger firm to get the experience and…[Read more]

IO is not only for investors, many owner occupiers like to have IO as well.

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

Yes there are people wrapping in Sydney.

There are plenty of people who cannot qualify for low docs – most don’t have the 20% deposit. 35% is usually needed for No docs.

And there are 95% low docs out there, but the rates are over 10% and there is about 3% worth of LMI to be paid, so compared to these wraps can be competetive.

There is also a…[Read more]

http://www.wealthwithin.com.au/pages/default.cfm?page_id=22191

Free tickets

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

A client of mine just purchased a 3 bedroom house in a Sydney suburb for $210,000!

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

Good points Kerwyn.

And yes, you can get 100% finance for expensive cars. Seen one recently for $250,000.

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

Hugo

There won’t be $13,000 cause the trust will have to pay the $20,000 in interest, so there would be a $7,000 loss.

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

A company is not a good idea for holding appreciating assets. You would do better by looking into trusts to hold your properties.

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

Thats when you take up a lease option on the house and then do the same thing, you sell an option at a higher price on the same property for slightly more and you charge a slightly higher rent.

The result is a option fee an option fee to you and a margin on the rent.

Sounds good in theory, but may be hard to do – but not…[Read more]

Even if you could find these properties, they would likely be auctioned and would sell at market value.

If you could find out before foreclosure, then you may be able to go in and make an offer to purchase. You could make it appear you are randomly contacting owners in that area, so they won’t know where you got their details…

Terryw
Discover…[Read more]

It will be hard, too, with your short employment record. I think most of the 100% loans need the applicant to be in their job for at least 12 months before applying.

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

Originally posted by Hugo:

I should have added I bought my PPOR in 1995 for $150,000.I was renting it out and negatively gearing it while I was living at home. I payed off the loan in 1999 and moved in. It is now worth over $300,000.

Hugo, if this is the case, you will probably have to pay CGT on the sale of this property.

Terryw
Discover…[Read more]

When I did a course in Japanese business in about 1993, I thought now may be a good time to buy some shares (have been dropping since 1990 too when the bubble burst). Luckily I didn’t as they have been still falling since.

But, yes it could be a good time to get in now, but you must know the market well, speak the language and know the rules and…[Read more]

Hi Kay

There is $5 off tickets for the Investment Expo in Sydney (April 15-17, 2005) at:

http://www.investmentexpo.com.au/sydney/discountticket.asp

I beleive this is on with the property expo, and one ticket gets you into both.

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

Lenders need a buffer in case they have to foreclose. Usually forclosing takes many months, and itnerest could be building up during this time as well as various legal costs. And then when they sell, they may not be able to get what it initially valued at. So a buffer is needed.

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

The trust has made a loss, not you. If you give the short fall to the trust, it is a gift and you cannot claim that, or interest on money borrowed to gift.

Your trust would need other income to offset this loss, or to carry it forward.

If you were using a hybrid trust, there may be ways around this.

Terryw
Discover Home Loans
Mortgage…[Read more]

Japan is a whole different ball game to Australia. Properties have been falling since 1990, depsite it being cheaper to pay a mortgage than to rent. There are other problems such as foreign ownership rules, and finance. You probably wouldn’t be able to finance there unless you were working there.

Stick with an area you know.

Terryw
Discover Home…[Read more]

You just have to factor it in, like any other tax.

You may be able to reduce it by setting up different trusts, but it cannot be eiliminated.

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