Comdom,
The superfund can’t be in your name. it will be a the name of a trust.

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

Fudge

I’ve had a quick play around with the spready and it looks pretty good. One suggestion: what about some sort of summary page so that we can see the net overall cashflow from all properties owned etc?

And thank you for offering it to everybody.

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

As a guide, any expense incurred in making a profit would be tax deductible. So virtually any legetimate expense related to keeping your property in good working order would be claimable. Don’t forget travel expenses- to property for inpsections, meetings, accountants, loans etc. This can really add up.

Terryw
Discover Home Loans
North…[Read more]

Also consider if you can somehow use the new rental property for your business somehow – eg home office etc. You may hten abe able to claim part of the rent as a deduction.

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

Chris

That sounds like the best way to do it. ie a separate LOC so that your house is not used as security for the IP.

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

Hi

I’ve seen a few cases of parents gifting or lending 20% deposits to the offspring! It does happen a bit, but these days some people are worried that if they don’t get into the property market soon, they may be priced out as prices rise. So it may be on the increase.

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

Kay

You’re friend might be american? Rolling over of CGT is not allowable in Australia. Or maybe they were talking about selling the PPOR?

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

Accountant Chris Batten has some stuff on superfunds and investment properties on his site:
http://www.chrisbatten.com.au

Comdom, offset accounts must be in the same names as the loan accounts.

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

Kay

i agree with MH. sometimes bank valuations also come in higher. I had a client that purchased an established property and the bank valuation came in 20% higher than what they paid for it.

However, there is one lender that I know of that specifically orders a fire sale valutation to be done. This is a specialsied lender tho.

Terryw
Discover…[Read more]

Hi Akyboy

I have a client that has become a millionaire ‘overnight’ by doing something similar. Buy land with a deposit bond or a negotiated small deposit and then sit back and wait. This guys land has more than doubled in about 12 months-and he had many blocks.

Are you looking at an area near the coast? it seems anywhere on the coast is booming…[Read more]

Hi Akyboy

I have a client that has become a millionaire ‘overnight’ by doing something similar. Buy land with a deposit bond or a negotiated small deposit and then sit back and wait. This guys land has more than doubled in about 12 months-and he had many blocks.

Are you looking at an area near the coast? it seems anywhere on the coast is booming…[Read more]

Most lenders will lend to trusts/companies. However, some won’t lend for trust/companies on the low doc loans-eg Suncorp and ING. You could still get these if you had a non corporate trustee and borrwed in individual names on behalf of the Trust.

Another potential problem is that recently some lenders are also requesting that if loans are in…[Read more]

Adam

the bank will want to see the trust deed to make sure the trust is allowed to borrow etc. But since you will be guarranteeing the loan, you could apply in your name first-if you qualify the trust will. But you will have to submit another applicaiton later in the company/trust name.

Terryw
Discover Home Loans
North…[Read more]

Hi

Yes LMi on the 100% lend would be around 2.5% of purchase price!

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

two of my clients have recently reduced their rents to attract customers (in Sydney), it does seem that there has been a down turn in certain areas.

I got a good tip from Michael yardley’s newsletter. That is if you want to increase the rent by $10 per week, write a letter to the tenant saying rent will increase by $20, unless they have any…[Read more]

Hi
These days lenders don’t like letting anyone guarrantee a loan unless they are on title. A better way of doing it would be for a parent or someone to use a LOC and lend you the money.

Another strategy, if you don;t have much money you could try and lease option a property form someone and then on lease option it at a higher rent with a higher…[Read more]

I agree with Clithero on this. Imagine how a car loan would hurt your serviceability for getting more property loans. I really want a newish car too, but am trying really hard to resit the urge!

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

Steven

i give up!

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

Mel

Good point! cheap, simple and easy.

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

ACTandy

Yes I am a mortgage broker, but I do not know anything about borrowing to invest in Property trusts. I assume it would be similar to borrowing for shares or a managed fund. The security is the shares themselves, so it would be just like a margin loan. probably a max of around 60% lend.

Terryw
Discover Home Loans
North…[Read more]