Good point taxman. I agree-you can have the best of both worlds.

Luckyone. I just posted about this in another question. There is a Tax Determination available at http://law.ato.gov.au/atolaw/view.htm?docid=TXD/TD959/NAT/ATO/00001 (TD 95/9).
It appears a you must live in the property first before you can claim it as your PPOR and then have up to…[Read more]

Blackhole.

You can still rent out your PPOR for up to 6 years per time and pay no CGT. see the example in this Tax Determination:TD 95/9
http://law.ato.gov.au/atolaw/view.htm?docid=TXD/TD959/NAT/ATO/00001

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

I mentioned this to a real estate agent friend of mine in NSW. He was of the opinion that no licencing would be necessary to act as a spotter or a buyers agent. It is best to check with the Dept of Fair Trading to be sure. Just ring them up.

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

I know the people at Eurofinance, we use them for finance all the time. Euro use these funds to lend out for their asset lend product which is 9.5% pa interest.

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

I am not an accountant, but I beleive a time period is not stated in legislation and you should be able to claim a house as your PPOR if you live in it for just one day. But you can only have one PPOR per family (or 2 for a short period to allow moving). You can also be absent from your PPOR for a period of up to 6 years, rent it out and pay no…[Read more]

I am not an accountant, but I beleive a time period is not stated in legislation and you should be able to claim a house as your PPOR if you live in it for just one day. But you can only have one PPOR per family (or 2 for a short period to allow moving). You can also be absent from your PPOR for a period of up to 6 years, rent it out and pay no…[Read more]

David

I agree with Melanie, but would start a new company to act as trustee, not the one your are using for business. It adds more protection in case the trustee is sued.

Bill
I had heard the high court appeal was comming up sson, but didn’t know the ATO had lost, (are you sure-it would have been widely publicised I am sure?)

Terryw
Discover…[Read more]

Get some proper advice, but you probably should not be buying property in a company-unless it is a company as trustee for a trust.

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

How big is it? (the studio that is[])

Many lenders will accept about 40 sq meters, but anyting lower gets hard. The smallest that I have heard about is square metres.

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

From a borrowing perspective, it may be wise to only have one director of your company as this will limit your guarrantee. (Directors must guarrantee loans in the company name.)

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

Carlo

With most low doc loans you will need 20% commission. Some require you to be self employed. many also have more restrictions such as sqeaky clean credit history, and there are location restrictions (no inner city or country).

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

Hi

I have jsut set up a discussion group so we can all discuss investing in Japan. There is a home page at:
http://groups.yahoo.com/group/Japan_property/

Or you can subscribe by sending a blank email to
Japan_property-subscribe@yahoogroups.com

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

Yes, you can possibly get a loan easily, but you will probably have to pay a higher rate ass you will be deemed a higher risk.

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

As Hilary said I beleive buyers agents (and spoters) must be licenced real estate agents or hold the real estate sale certificate and be working under a licenced agent (in NSW anyway). Please check with the Dept of Fair trading in your state, as you could be breaking the law if you are accepting fees for finding/introducing…[Read more]

Hi

you could also possibly borrow the 20% deposit from someone. But you would still need to show your income to service.

If you are a part time real estate agent, could you also act ass a buyers agent finding postive cashflow property for all these people that can’t find them. ie introduce this property to someone for a fee.

Terryw
Discover…[Read more]

Hi Fudge

Mortgage insurers will have to approve all loans over 80%. And they have area restictions, ie only capital cities and major regioanl centres will be accepted. Your $50,000 property is probably not in one of these areas (send me some postcodes to check), so you may need at least 20% deposit.

If you are permanent part time for at least 6…[Read more]

You could make them positive cashflow by wrapping or lease option etc. Worksin Sydney too.

You can also do creative things like add a bedroom etc, and some people have done this in Sydney and turned the property into positive cashlfow.

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

Guys

A couple of years ago, I started an email discussion group about investing in Japan. It ended up dying off, and got flooded with spam. But it was a good way for people to stay in contact and discuss investing relating to Japan.

Would you be interested if I started another group?

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

I personally had 5 loans IO with ANZ at 95%!

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

For something like this you would probably have to put up at least a 30% deposit, this will reduce your COC return a fair bit. Another problem is for the wrappee getting finance to cash you out. they will also need at least 30% equity. It may be better to let this one slide and concentrate on the easy deals (my opinion only).

Terryw
Discover Home…[Read more]