you would need a specialist lender for this. What sort of LVR are you looking for? Maybe 60% would be possible.

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

I beleive being in the same industry is OK, but if you are on a probation period, then they won’t accept that. Either way it would be risky going uncondition in a situation like this.

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

Showbags, This sounds like a good idea to me. Just do some sums and talk to your solicitor about it.

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

I think there is stamp duty exemption still in NSW when transferring between spouses.

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

It can be worthwhile. I’ve used one myself, and have seen a client that made lots of money on a property sourced through a buyers agent. They can be good at negotiatiing too, often saving more than their fees.

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

Sounds very risky to me.

There may be a chance of long vacancies if tenants move out, values could decrease and interest rate rises and repairs could eat away any positive cashflow – leaving you with not much.

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

The land is not producing an income, so building on there asap would be a good move – even if negatively geared.

Are you sure the interest on the land is not claimable? I beleive you can claim it, and rates etc, if you had the intention to build on it as an IP. check with your accountant.

Selling shares etc to fund this may or may not be a good…[Read more]

Can’t be done straight forwardly in a tax effective manner.

Any increase in your PPOR loan would not be deductible if the funds were to be used to pay down your IP loan if you are going to live in this property.

You could sell your PPOR to your trust, borrowing to do so. This would be classed as a sale, stamp duty would be payable again, but CGT…[Read more]

Another option is selling half of your IP to your partner. She could borrow to do this and the funds released could be paid off your PPOR. This would save you a bit in real estate fees etc, and you would get to keep the IP while converting non deductible debt into deductible. There may even be stamp duty exemptions.

Terryw
Discover Home…[Read more]

Kayleen, Are you sure you are doing the right thing?

Watch out for:
– capital gains tax
– buying inferior properties just because they are cashflow positive.

Make sure you do your research before you jump into anything.

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

You should be exempt on mortgage duty for refinances up to the original loan amount. Borrowers must be the same though. If you have been charged you can apply for a refund through the state revenue office.

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

Originally posted by Monopoly:
Originally posted by Terryw:
I think you could get away without paying CGT this time, by claiming you last place as the main residence. But if you ever sell the current main residence, you could not claim it as your main residence from the date of purchase until you sold the investment. Can only have one main…[Read more]

I have a few of his books, and his material is really good.

His courses sound very demanding and tough. You can read a bit about them on his websites:
http://www.bradsugars.com
http://www.action-international.com

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

Yes put the vacant possession clause in there and refuse to settle. (through a solicitor of course)

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

I think you could get away without paying CGT this time, by claiming you last place as the main residence. But if you ever sell the current main residence, you could not claim it as your main residence from the date of purchase until you sold the investment. Can only have one main residence at one time – except for a 6 month cross over period.

So…[Read more]

I recall reading something recently saying that rental yields have already started to rise in Sydney over recent months. And I think this is what generally happens in the cycle. Values rise so fast, rents can’t keep up. Values then stagnate and the rent starts to slowly creep up again.

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

I’ve spent a few 10s of thousands at seminars over the years, and would have to agree that there is nothing out there in these seminars that you can’t find in books or forums.

But it is not the same. Going to a seminar can really motivate some people, and this could be worth thousands itself. Others can be motivated by reading books too…[Read more]

I haven’t used them myself, but know they have been around for a very long time – at least 10 years or so.

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

Woodsman

Someone else has mentioned this before – you should have used the search function!

ONLY JOKING

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

Sorry, Zen I was referring to Land Tax. ie trusts usually have to pay land tax even if the land is valued at $1, whereas individuals may not have to pay land tax unless their property is worth $160,000 (or whatever it is now) or more.

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