Brizza

St George will do small places – from memory, anything over 25 sqm.

I have heard of someone with a 12 sqm ‘place’ in Sydney. The person paid cash for it 10 years ago and it hasn’t gone up and they couldn’t find a buyer.

Terryw
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Generally, I’ve heard that foreigners cannot purchase property over there unless an apartment and there are various regulations such as restrictions on the number of foreign ownership in the one complex etc. If purchasing through a company will need to have a Thai partner with at least 51% share ownership.

There is a good website at…[Read more]

It is generally much harder to finance serviced apartment, even more so if in a country area and if under 50 sqm. This can limit gains as your resale market is restricted.

Terryw
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You don’t say how much your house is worth, so we can’t tell if you actually have any equity.

Lets say it is worth $300,000. Generally (if you have enough income) 80% of the value is able to be borrowed.
80% x $300,000 = $240,000

But you already have $178,000 in loans secured against this property, so your accessible equity is $240,000 -…[Read more]

You will only have to prove it if you are audited – which would be rare.

However, it is best to plan for these things. Having a bank valuation, one done by a licenced valuer, probably should be enough. Do you have an actual copy of the valuation?

Terryw
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I should add, that you would be able to get finance, but just may have to pay a slightly higher interest rate – around 8.85% with one non conforming lender (HLP) at 80% LVR.

Terryw
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I am inclined to agree. If he is talking about cashflow positive proeprty in whoop whoop with a population of 500, then I can’t see how these can be good long term investments.

Good high growth potenital cashflow positive stuff is another matter.

Terryw
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tax would be payable on any profit

Terryw
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Yep, I think the only way to get around it would be never to buy the property.

Terryw
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I would suggest you look at fully paying off your PPOR – paying off non-deductible debt. Then you can reborrow against this property to use as deposits with the remainder of the money (if any).

Maybe also look at setting up trusts and gifting the money to the trust. Maybe have one for you and one for the spouse as this could increase borrowing…[Read more]

Trusts can negative gear only if they have other income. losses have to be quarrantined in the trust, so these cannot be offset against other personal income. A Hybrid trust may be a way around this.

I don’t really think renting is a waste of money as long as you are investing the difference (renting is usually much cheaper than paying off a home…[Read more]

Yes, using a DT will help – as you will not be ‘owner’ of the assets.

Terryw
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have a look at the forms on http://www.lawcentral.com.au there is one there regarding buying property jointly

Terryw
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I got out of an contract due to the sunset clause (in Vic) without any mention of a 3 month extension I think it owuld depend on what is in the contract.

Terryw
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You can setup your own company over the internet, http://www.lawcentral.com.au and http://www.cleardocs.com.au

Terryw
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Have a look at the site http://www.lawcentral.com.au especially their newsletters for lots of good ideas.

Terryw
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Yes it will be hard for normal loan with a large default like that. It will depend on:
-the reason
-how long ago it was
-how soon you paid off etc

Terryw
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Or just bypass the cashbond and use the equity to repay the loan. note this oculd be dangerous!

Terryw
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Probably could get around 70% LVR. from around 8%+

Terryw
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It may be possible, if the owner is director of the company.

Another opton would be for him/her to get the loan and then lend it to the company – this is much more common.

Terryw
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