You might as well jsut buy Dale’s book “Trust Magic”, about $99.00. There is also a book by Chris Batten entitled something similar to “Investment Structures 2002”. I have purchased this book, but have lend it to someone. Dales is very basic, but has what you need Chris Batten’s is very techinical. see also http://www.chrisbatten.com.au

BTW you probably…[Read more]

Is your PPOR loan fully paid off? If you, you probably should direct all extra repayments to this loan, rather than paying down deductible debt.

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

I agree with MH, I put a few clients into these sorts of loans. They are usually high net worth people who don’t fit the rigid guidelines of the banks and they are after short term finance so they can add value and then sell or refiance asap.

2nd mortgages are more risky as the 1st mortgagee naturally has first access to the security if things go…[Read more]

Leonor

You can just apply for a loan increase with your current bank, you don’t have to refinance, but could do this depending on circumstances.

It is worked out like this.
New value x 80%, less current loan = extra available equity.

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

Seems like your doing well with the capital growth on those properties so why sell – unless you can’t mangage.

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

You can always ask the vendor to let you out of the contract. Some will, most won’t – esp developers. But you never know until you ask.

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

I’ve looked into borrowing from Japan. It can be done if your are working there and earning Yen. LVRs are around 70%, and there can be margin calls if exchange rates move suddenly. Also if you stop working and leave the country, you will have to convert the loan to AUD. I looked at NAB, but other Aussie banks should offer similar products. rates…[Read more]

Don’t worry, they will send you a bill if you have to pay. Also when you sell, any unpaid land tax must be paid then, so it si hard to avoid paying.Shnook, it is the same in VIC and other states I beleive.

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

I use TPG ADSL at the office. it is pretty good, but has a few problems every now and again, but that is due to the telstra network going down aparently?

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

If you sell you lose money in agents fees etc, even if you do not have to pay CGT. You also go thru a lot of hassle trying to sell it, and you miss out on any future capital growth.

So I am a big fan of keeping and buying more properties. you can always access equity and use that for the deposits on new properties.

Terryw
Discover Home…[Read more]

Kaybeesee

You could still get a quantity surveyor in and claim depreciation of fittings such as carpet, hotwater system, ovens etc. I have a few really old properties (built 60s and 70s) so haven’t bothered myself, but it may be worthwhile depending on the quality of the fittings.

You can also claim travel expenses, borrowing expenses (ove 5…[Read more]

Dale Gatherum Goss
http://www.gatherumgoss.com.au

he has written two ‘books’ on trusts and is located in Melbourne.

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

Hi Bear

Yes, that is one way of getting finance based on valuation. if your LOC is large enough, you could pay cash for a property, do it up a bit, and then get a loan on the property to release teh cash abck into your LOC (ready for the next one).

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

Hi Celivia

It will get a bit messy, and is better if you could maybe have a split loan, ie 2 separate accounts to keep business and pleasure separate. if not, detailed records will be the next best thing.

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

One of the main problems is mortgage insurance.

The mortgage insurance companies (GE and PMI) have policies which exclude certain areas. Some of the (mainly smaller) lenders have all of their loans mortgage insured (even on LVRs under 80%), so this restricts their lending a bit.

However major banks will usually lend for most areas at up to 80%…[Read more]

I do the same as Lazyboy – one LOC on one property which is used for deposits for Investments and then separate loans for the investment properties. You don’t need multiple LOCs, but may need more than one depending on amounts of equity in your properties.

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

Just go for Dale GG
http://www.gatherumgoss.com.au

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

Fullout

A deposit bond is just a guarrantee. You pay a fee and the bond compnay guarrantees that they will pay the vendor the amount promised if you do not settle. If they do that, then they are going to be chasing you for the amount they guarranteed.

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

Westan

The mortgage contract will specify what you have to do. eg with one of my ANZ mortgages it states:
“If anyone succeeds me as trustee of the trust, I will make sure that my successor executes whatever documents ANZ requires to ensure that this mortgage is binding on my successor”

If the loan is in the trust’s name and you are guarranteeing…[Read more]

Family, friends and word of mouth.

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