Dale’s web address is
http://www.gatherumgoss.com

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
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Robert. I think i gave you a copy of a NSW wrap contract about 6 months ago? Maybe it was someone else.

I also noted the following comment from the interview:
“Rick…………I’m aware they are there but I’ve never been to one of Steve’s seminars”

I recall meeting Rick at Steve’s seminar in Sydney in approx 2001 or 2002.

Terryw
Discover…[Read more]

I have done a few, but wouldn’t do them again the way I did. The tenants ended up making more money than me. Go for a rising strike price linked to the value of the property at the time of cashout, that way you can get some capital gain. Also look for short leases, about 2 years, so it doesn’t just drag on forever, unless you want it…[Read more]

In my opinion LOs are superior to wraps (installment contracts) in many ways including:

– less problems with finance
– less complicated from a tax perspective
– less legally complicated
– easier to vary, eg can have the strike price as a discount to the value at the time of cashout
– tenant may be able to get rental assistance
– etc

The only…[Read more]

I agree Oldtimer, I wish I had just kept my properties instead of wrapping them. A few extra dollars in income has been obtained at the expense of large capital gains. Oh well.

Terryw
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Mortgage Broker
North Sydney
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I wouldn’t spend too much. Start with reading as much as you can, taking notes, and going to all those free meetings that are on now and then.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
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I would suggest there wouldn’t be much money in property, but maybe you could do it short term to learn and then move on to more lucrative areas.

Terryw
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That wrapper in Newcastle is Peter Sollner I think.

You are supposed to disclose a wrap as the mortgage contracts require the lender to be notified if anything is done to affect the value of their security. including onselling on an installment contract and selling an option, (major renovations etc).

Terryw
Discover Home Loans
Mortgage…[Read more]

I would agree with Richmond, IO if you still have non deductible debt as it would be better to direct all extra payments to getting rid of this first.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
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You can still use a company as trustee for a discretionary trust and then have access to the 50% CGT discount.

Terryw
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North Sydney
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You can claim anything and get away with it if you’re not audited! You must make sure you can justify it if audited. I do beleive you should claim these expenses, but remmber reading a ruling on claiming investment courses, and from memory, it wasn’t too good news. For example, if some part of the course covered shares and you didn’t have shares,…[Read more]

Rob,

I beleive the full licencing course is available thru REINSW for about $4000 to $5000 and it was avialble via correspondence. You could complete it in 12weeks full time or one year going in one day per week.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
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Your parents could borrow money secured against their own property and lend you the money. make sure you have legal loan agreements, so they will be able to claim the interest (actually passing it onto you). If they gift it to your they won’t.

They lend you the money and you borrow the rest. After the property grows in value, you can then…[Read more]

I think that is the way Steve did it, and many others too. Just bear in mind that your home is your only tax free asset, so long term it is best to acquire one!

Terryw
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Mortgage Broker
North Sydney
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Finance would be the major problem. As they say in the industry, this ones ‘hairy’. In fact it has at least two hairs, one being inner city, the otherone being size (yes size does matter). I imagine it would be well under 50 sqm in size.

If it is hard to finance, then it will be hard to sell. This will limit your capital growth.

Terryw
Discover…[Read more]

Are you talking options on shares or property?

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
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Another way is to purchase a property in a unit trut with an individual or discretionary trust holding the units. The superfund could then aquire units in the unit trust. The trustee of the unit trust would then use the funds received from the unit trust to redeem the units. the menas the cash in the superfund is effectively replaced with units in…[Read more]

Sounds like you could have many options. You could buy a lot of properties, using the money as deposits. Probably you best bet would be to diversify a bit, maybe you should talk to 3 different financial planners, including property specialists, and your accountant and solicitor.

Terryw
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Mortgage Broker
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It is a very hard decision to make. I would work out all the possible scenarios, 1) move out and rent, 2) Sell PPOR and rent etc. Write each scenario on a different piece of paper, and see which is more cost effective, in the short term and the long term.

Things to watch out for:
-Your husband earns little, while you earn a lot. so oculd he stay…[Read more]

I just noticed your header – converting super funds to real estate. Did you relealise that super funds cannot borrow money, therefore if you are going to buy real estate, it must be with cash of the funds. However, there may be a way around this, see http://www.chrisbatten.com.au

Terryw
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Mortgage Broker
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