I personally would not invest in Tasmania. As Steve showed in his MAsterclass, the market (actually Hobart in his example) was flat for along time, then investors discovered the place, it took off, but local incomes etc have not kept pace and rental yields have dropped. There could be another long period of low growth. There is not real point in…[Read more]

With most no doc loans, you could get up to 65% LVR without having to declare an income. You can then use these excess funds (if any) as deposits and get more loans at 65% LVR. It will all depend on how high your current LVR is.

Terryw
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Making an offer would take about as much time as writing this post. What have you got to lose? – a few thousand dollars if you don’t.

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You should speak to your accountant first, but as a guide, there is a joint venture agreement online at http://www.lawcentral.com.au.

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There is no correct asnswer.

Why no lok for one that provides both cashflow and capital gains. they do exist!

But if you are unemployed, getting finance will be the biggest hurdle you have to get over.

There are No Doc loans which you could use, but often regional areas are not acceptable locations for these. There are also minimum loan sizes,…[Read more]

There would be no 50% discount, so income tax.

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Trusts are not legal entities, so they cannot purchase. It would be the trustee that signs the contract. If an a company is trustee, the director would be signing for the company.

I suppose if the original person is a trustte, or director, then it was the agent that introduced them, so the agent could claim for commission. Read the contract you…[Read more]

The wrappees will only be gaining equity if they are paying PI and/or if the property is growing in value.

There are various spreadsheets you can use (eg excel) to calculate their loan balance, so when they want to chas you out, you just give them the figure, and they ‘refinance’. Probably no wrap loans would go the full term as they will likely…[Read more]

There may or may not be a general property slump at the moment, But i have had a few recent clients that have purchased way under value. One client paid $400,000 for a place that valued at $750,000. So it doesn’t really mater what the people say about prices and the market, bargins are still out there.

Terryw
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Robert Kiyosaki is American, he likes to exaggerate things a bit! I suppose it could work tho.

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Spouses can generally be added to the loan even though they are not on title. In such cases, their incomes and liabilites will be taken into account.

Generally this cannot be done with third parties, including parents.

If you can’t borrow because of the personal loan, maybe your dad can assist you in paying out this loan or adding to your…[Read more]

Good scam!

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The bank valuation should make sure you are no overpaying. I personally am not too worried about yield if there is potential for capital growth. Especially when getting vendor financing. Sounds like a good deal.

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Hi Rob

There is/was a similar product available from Tonto home loans. I don’t know if it is still available or not, but from discussions at the time, this product was structured in a way that was allowable. The Hart’s case only applies to a specific situation. This is an unrelated product, and doesn’t involve the capitalisation of interest. I am…[Read more]

You can get a trust deed for about $135 at http://www.cleardocs.com.au
You will also have to pay stamp duty on the deed, which varies from state to state, in NSW it is $200.

Trusts should cost virtually nothing to run. just a tax reutrn each year.

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That sort of COC return is very low if it is you that is getting the loan in your name. You are taking all the risk. If you did it on your own, you would be making much more – around 60% COC return.

I would be interested in knowing who this company is.

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I think you should ask your other questions to your solicitor. I would suspect that you could have up to the last minute to withdraw using the finance clause. You can try to negotiate an extension, but not always succeed. Banks often don’t give you an answer in time, so you have some tough decisions to make.

Terryw
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Well done Aafreen

You are supposed to get emotional on your own home!

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I think you will find LMI will only be partially refunded if you sell within 6 to 12 months of the loan settling.

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Don’t get too creative. Some of these subject to clauses can become too vague and hence are meaningless. it would be hard to get a vendor to accept something vague.

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