Signing ‘and/or nominee’ would not help you get out of stamp duty in most states – unless you had a written agreement with in nominee before you sign the contract yourself (In Vic). I beleive it can’t be done at all in NSW or QLD unless the nominee is related (eg your spouse or your ocmpany).

If you want to avoid stamp duty, you could just charge…[Read more]

I am very wary of investing in small towns, but would like to point out that some tenants in the more expensive properties can be worse than the cheaper ones.

Terryw
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if its hard to get finance, then it will be hard to sell. this would limit price increases.

Terryw
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It won’t work in a discretionary trust as losses cannot be offset against other income. So the trust would need other income or your losses would just sit there until the trust made income in the future.

The ATO has also looked at this structure using a unit trust, have a look at:

TR 2002-18 – “Income tax: home loan unit trust…[Read more]

You could do basicaly whatever you can negotiate. Maybe 0% with a higher interest margin would work better in some cases, or a 40% with no interest markup.

Terryw
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Ian

Brokers can order there valuations directly for ANZ (from an approved list). If the client isn’t happy, another can be order through a different valuer from that list (at clients expense).

Terryw
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Jaffa

It the wrapper has already sold the property to the wrappee, then you won’t be able to purchase the property until they have repossessed the property. Is this the case?

Terryw
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You either buy it or introduce it to someone. You ma have to be licenced in some states to receive a fee for introducing property.

Terryw
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Hi

In your example, it would generally be marked up to $120,000.

The value on cashout doens’t matter (to payout costs), contracts are exchanged on the $120,000 price and it reduces from there, depending how much the wrapper has paid in repayments + interest.

Terryw
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Must have been a mullet!

Good work

Terryw
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Rob, what sort of haircut did you have back then?

Terryw
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Thats a hell of a payout penalty!

Terryw
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Hello Rob

Sounds like a good setup. What about a unit trust as well? The unit trust would buy the property (the trustee actually) and the units for the unit trust would be the discretionary trust. That why you will be able to transfer property owned by the unit trust without paying stamp duty, under certain circumstances.

Terryw
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You could use your property here, using a LOC/redraw to pay cash and then get finance later.

I suppose it depends on how much equity you have and how kee you are at investing. If you just use the Aussie equity, it would be wasted in the long run, as you would have an unencumbered property which could be used to make money.

Terryw
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Good Summary WTBnow. Make that complaint!

Terryw
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The end price usually starts at around 20% more than current market value. This gradually reduces over time like a normal home loan – which this is really.

Terryw
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It can be OK for two properties, but when you want to grow and get more, it will be a hinderance.

Terryw
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Yes, you should be able to.

If they say no again, just write a letter saying you are refinancing and request a payout figure. They will get them to change their minds most of the time.

Terryw
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Rob, why do you have to pick fights with every post?

Terryw
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what about
http://www.gatherumgoss.com
?

Terryw
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