Hi again. Your family trust wouldn’t be taxed at all. Only the beneficiaries are taxed, and usually any company that you have a share in is automatically a beneficiary, therefore you could distribute pre tax money to your company.

Terryw
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terry@discoverhomeloans.com.au

See this one:
The family court case of Milankov & Milankov is at http://www.austlii.edu.au/cgi-bin/disp.pl/au/cases/cth/family%5fct/2002/195.html?query=%5e+milankov+
.

Terryw
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terry@discoverhomeloans.com.au

Also, hopefully you may have equity in existing properties to draw on for deposits.

Terryw
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terry@discoverhomeloans.com.au

Plenty of people use companies to purchase property. But it is not neccessarily a good idea as you will lose the 50% CGT discount. Using a trust would be better, probably.

Terryw
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terry@discoverhomeloans.com.au

The trouble with partnerships, is that each partner would be responisuble for the whole debt-not just their share. I owuld form some sort of trust structure, probably unit trust with a hybrid as unit holder. Keep you son out of being a director/trustee. Since you are the money man, you will need to be on the loan, but your son doesn’t have an…[Read more]

The family law court can easliy unravel trusts!!

Your parent should consult a lawyer before buying anyhting. Maybe the business could be setup in your trust, where you mum/dad have no role other than beneficiary. But then they have to worry about your getting a divorce.

Terryw
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terry@discoverhomeloans.com.au

There may be many other costs not included in the package incuding landscaping, fencing, driveways etc.

Terryw
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terry@discoverhomeloans.com.au

Savings! or Investors

You will have to save like mad. All the positive income, the wrappers deposits, your wages etc.

And/or

Borrow money from investors. Many people pay 12%+ to borrow money from family/friends and then use this money as deposits. Even though you are paying a high amount for this, the blended rate will be much lower and you…[Read more]

Hi Flop

If you are selling you will be up for some legal costs, real estate agent’s fees (about 2.5%), loan exit fees etc. And then when you buy you will be up for stamp duty, loan applicaiton fees and legals etc.

Also do some sums on what it would cost/benefit if you rent out your home without selling. You could rent elsewhere, and acess your…[Read more]

7.14% was probably a good rate at the time, but compared to todays rates it is a bit high. To change it you would be up for exit fees/break costs and these could be high. I suggest you ring your bank and ask them for a figure, and take it from there.

For what its worth, I have one loan fixed at 7.10% for a few more years too.

Terryw
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If you have enough equity, all you have to do is to apply for release of security for your properties (just hope your not with the NAB!). Maybe one at a time would be the way to go.

Terryw
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terry@discoverhomeloans.com.au

It will be very hard to finance if someone else owns the land. Also very risky, what if there is a dispute, the owner has title, the builder nothing.

I have seen a developer offer a fixed price and a % of profits after selling, to the vendor as an incentive.

Terryw
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terry@discoverhomeloans.com.au

You probably have to get the loans in your name, hence wearing all the risk. These returns are not very high for leverage returns.

Terryw
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terry@discoverhomeloans.com.au

You have not debt on your home, and the others would not be costing too much after taking into account tax breaks and rent, so why sell? You should be buying more!

Terryw
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terry@discoverhomeloans.com.au

It depends on the area. I would not buy based on rental yield alone.

Terryw
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terry@discoverhomeloans.com.au

Buying o/s is complicated and there will be extra costs with accounting remitting money, exchange rate fluctuations etc. Many people I have spoken to who have bought in NZ have said it wasn’t worth the hassle to buy just 1 or 2. I’m not saying don’t do it, just something to keep in mind.

Terryw
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Mortgage…[Read more]

And, there are various postcode restricitons, especially for low doc loans. This means, that sometimes it is impossible to get low doc loans in some area.

Terryw
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terry@discoverhomeloans.com.au

And this one for SA:
http://www.landservices.sa.gov.au/4Lands_Titles/Searching_Lands_Titles_Records/

Terryw
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terry@discoverhomeloans.com.au

2 seconds on google produced this site:
http://www.land.vic.gov.au

Terryw
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terry@discoverhomeloans.com.au

Make sure you get an ABN asap. It is very hard to get a good, cheap low doc without having held an ABN for 2 years. If you haven’t got one, that means you are turning over less than $50,000 pa, which could be the case, but will mean it will be hard to qualify for high loan amounts. You still must declare an income for low doc…[Read more]