You should be able to claim a % based on the floor area. But, I agree wth Scott again. You will probaby lose the CGT exemption on your home. So it may not be worth claiming.

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

Buy what you think will make you the most money.

If you have $40,000 deposit, then you can’t buy too many. maybe $400,000 worth of property – if you have the income to qualify for 95% loans.

There are not many cashflow positve properties in sydney, but have seen at least 3 different people buy them this year.

Positive cashflow will help you…[Read more]

It is not that unusual really. It often happens, one of my clients has recently come in $300,000 short on the valuation.

What you have to do is, prepare to argue. Get a list of comparable sales for the area as this is what is the major determinate. Then go back to the lender and say why you think it is worth more. If the valuer won’t budge, ask…[Read more]

I agree with Scott. In the long run both properties should be good, especially the Abbotsford one. It is a matter of if you can handle the repayments. What can you do to increase the rent? And can you get a 221D to reduce your wekkly tax bill. Have you got depreciation schedules done? All up when these tax deductions are taken into account, it is…[Read more]

You could get a separate loan for this but since you home will only have one title it will depend on total LVR, ie your current loan and your current debt on this property.

You also better check with council on meeting all of their regulations.

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

It looks like the small print has you.

Just send a fax advising the former agent you are withdrawing the right to sell your property.

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

All mine are monthly too.

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

Surely, if you have an income, you could borrow. Even if you are unemployed you could borrow if you had this much equity. As a last resort, you may be able to get ‘private’ type loans. These are around 8%+ interest, but very little questions are asked. For security located in major cities, you should be able to get 70-80% LVRS. It owuld be harder…[Read more]

It is very hard to remove a caveat that has been lodged overa a family law matter. I think it has to go to the supreme court which will cost more in barrister fees than will be saved. My grandfather has a similar problem at the moment and he is unable to sell his house.

You had better seek legal advice asap.

Terryw
Discover Home Loans
North…[Read more]

These aren’t good investments in my opinion. But others disagree and there have been a few thread in the last 2-3 months. Do a search and you should be able to find them.

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

Misty

It is a bit confusing, but basically you can borrow up to 80% of your property value. So if your prpoerty was worth $600,000 you could get $480,000 less any current loans. But you stiff have to be able to service these loans. They only way to buy many is for them to be cashflow positive and/or you having a very high income.

Some people use…[Read more]

G7,

With property the ATO considers a sale to occur when contracts go unconditional, I haven’t kept up with CGT and wraps, but my understanding is with a wrap contracts are unconditional when or before the wrappees move in, and therefore CGT may be payable that year. If contracts are not exchanged or unconditional, then the wrapper does not have…[Read more]

There should be some lenders out there that will look at your 30 person accomodation. Is it a ful doc or a low doc, and what area? It will be much harder if not in a major city.

There are lenders out there that lend for Brothels, probably none of the major banks would do it as it may be bad publicity.

Terryw
Discover Home Loans
North…[Read more]

Why sell?

What about borrowing against your increased equity so you can keep your house and still buy investment properties?

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

Hi Felicity

Thats good because I actually did two in Vic with IO loans! Been cashed out now though.

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

Hi Richmond,
Actually Hybrid trusts can’t really distribute losses, they work by the trustee borrowing to borrow units in the trust. This borrowing is in their personal name and so they can claim the interest against personal income. But it does work out like the trust is distributing the loss.

Terryw
Discover Home Loans
North…[Read more]

Hi

A long settlement does not necessarily mean the property will be left vacant. Many owners need a long settlement to arrannge their affairs and will continue to live in the property until very close to setttlement. I guess they sell early for peace of mind.

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

I agree that you can make a higher return in business, but you can also lose it very quick. I think it is good to make you money in business and hold your wealth in property for asset stability and good long term growth.

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

Does it matter? As long as it works, it doesn’t really matter what you call it. Sounds like no money down to me.

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

As far as I know this would be illegal in Victoria. Unless you have a written agreement for that peron to be acting on your behalf before they signed the contract, it would be fraud.

To confirm, just ring the state revenue office and ask them over the phone – without names.

I think you would be required to pay stamp duty on the value of the…[Read more]