I beleive you must be a licenced real estate agent to be a buyers agent. Check with your department of fair trading jsut in case.

Terryw
terry@discoverhomeloans.com.au

Rental purchase is where someone rents a property with part of the rent being credited off the price they will eventually pay for the property. Sometimes also called a lease option.

Terryw
terry@discoverhomeloans.com.au

Yes that happens. The old too rent reliant trick!
With that sort of equity, even if you don’t serivce.

I haven’t check your serviceability, but even as a last resort you could (probably-depending on the areas) get a No Doc loan to 65% of you current IPs and pay cash for the new one without mortgaging it!

ps I don’t rebate any of my…[Read more]

Hi Mini, Sorry to hear about the fire.

But did you realise you will be able to claim depreciation on the new repairs?

Terryw
terry@discoverhomeloans.com.au

There is a tax ruling on a trustee or beneficiary of a unit trust renting a property owned by the trust. can’t find the reference at the moment.

If you are using it as an office, you could calim part of the expenses relating to that area used. It doesn’t have to be zoned commercial. It you were renting it out to a third party (eg Doctors surgery…[Read more]

In a word, no

it will make no difference as the interest on the equity you will pull out will not be deductible. As the purpose is to reduce private debt.

Terryw
terry@discoverhomeloans.com.au

Dan, it can be done

but it is hard to get someone to sell you an option without offering a high price. I know of someone that purchased a house for about $380,000 a year ago. then a developer came along and offered $1mil in a few years if they gave him an option and allowed DA application etc. They took the offer!

Terryw
terry@discoverhomeloans.com.au

No Job, plus only one source of rental income = too rental reliant. What happens if the property is unoccupied for a while?

To get a low doc, you would have to declare some sort of income. ie he would have to lie.

a 100k deposit on a $300,000 property makes a LVR of 67% so he is close. (needs to factor in closts as…[Read more]

Hi

It might have something to do with agents regulations for your state. Agents may not be allowed to buy properties they have listed because in the past there have been unscrupulous agents that have listed properties well below market price and either purchased the property themselves or had a family member purchase it.

What state are you…[Read more]

Hi

There is RAMS no doc at 7.09% with 65% LVR too.
And, there will be a new no doc loan coming onto the market shortly. 65% LVR at 6.95%pa.

Terryw
terry@discoverhomeloans.com.au

Hi

There is RAMS at 7.09% with 65% LVR too.
And, there will be a new no doc loan coming onto the market shortly. 65% LVR at 6.95%pa.

Terryw
terry@discoverhomeloans.com.au

007

Don’t forget the mortgage insurers won’t approve loans for many country areas, so they may have to come up with at least 20% deposit plus costs. Depends on where the property is located, larger regional towns may be ok.

Terryw
terry@discoverhomeloans.com.au

basically, if you have equity or deposits then you will be able get finance.

Terryw
terry@discoverhomeloans.com.au

I would definitely use a trust. The absolute maximum tax you will need to pay will then be 30% (by distributing it to a company).

And if you do it often enough, you will lose the 50% CGT discount as the ATO will class teh properties as trading stock. You should get away with it for a while!

Terryw
terry@discoverhomeloans.com.au

I wouldn’t be too concerned if I was you. AS long as the properties are growing in value you will be ok. I would not sell if I was in your situation. You may have equity in your properties which you can use to buy further properties. But if you really wanted positive cashflow you could wrap one.

Terryw
terry@discoverhomeloans.com.au

I didn’t read the name properly! No Cash = no loan.

Unless you can borrow the (20-40%) deposit elsewhere.

Terryw
terry@discoverhomeloans.com.au

Hi Fizman

If you are behind in your repayments, then it will be hard to refinance with a traditional lender. You will have to go with one of the non conforming like Bluestone, Liberty, etc. Depending on how ‘bad’ you have been the rates will vary. You generally only need to show 6 months of statements when refiancing, so if you can get up todate…[Read more]

Is she your legal spouse? If you are separted it should pose no problem as long as it is all done at market rates. But even if you are not legally separated it may pose no problem. Give the ATO a ring and ask. (also ask for the name of the staff member you talk to).

Terryw
terry@discoverhomeloans.com.au

How much deposit have you got? and what LVR?

Terryw
terry@discoverhomeloans.com.au

Crashy

Land tax is 1.7% in NSW, tax free threashold is $261,000

Terryw
terry@discoverhomeloans.com.au