It is not realistic to expect someone to mentor for $90 – unless they are doing it for other than money. I have never mentored, but would think 20% to 50% would be more like it.

Your maths is off, but that is the general concept.

Best to see a lawyer, entering a partnership is full of danger.

Did the acccountant point out that if you bought with the intention of reno and selling at a profit then even your PPOR can be subjecct to CGT?

See my free ebook on trusts and property and tax – http://www.propertytaxsolutions.com.au

I had a forum member ask for my assistance over a similar matter than went wrong.
Girl had a joint loan with ex and did a parental guaratee as well. Property prices dropped, ex did a runner and about 8 years later they are still paying a loan off with the property long ago sold.

You need to look at the certificate of title. Rates notices have limited room and maybe all 6 owners won’t fit in. The loan may be in one name but all others may have guaranteed it.

Perhaps Charlie. My trail book has perhaps 5% fixed but my drop off rate is very low, perhaps less than 5% drop off each year and that is because they sell.

Lawyer fees would depend on the court, the higher courts cost more and which court you end up in will depend on the size of the dispute generally.

You would have to assess the merits of suing the otherside at the time they breach your agreement. It may or may not be worthwhile. Fixed rates are more valueable because the client is less likely to move banks while the loan is fixed.

Investing and business is risy chariie. You have to look at industry average drop off rates, the perccaentage of the book on fixed loans etc and have a restrain clause that the seller is prevented from writing loanss to those clients (he might just get one of his/her mates to refinance all)!Any clawbacks you would get the seller to wear.

Contractual provisions – but there are no guarantees.

Depends on the situation but you could possibly do this 2 wayas

1. parental security guarantee.
2. parents borrowing and onlending you the money.

2 would be safer for them.

Don’t assume you can avoid land tax, your main residence may be subject to land tax, in some states, if it is income producing.

you should look at the insurance contracts, not the EPP for the insurance question. Look at the boarding houses act

If you went 50/50 you would each have your own expenses and whether the rent would be deductible or not would depend on what you used the place for.

If you rent out your main residence the portion you rent out will be subject to CGT.

Fudge – different thing, but similar.

Not true blackhotel.

A business is not a legal entity, and you cannot contract with yourself. But if the business is being operated under a company structure the company could rent from a property owned by you/you and spouse/spouse.

But what are the consequences – if the property is your main residence it could then be subject to CGT as it is now income producing.…[Read more]

Just get some legal advice on structuring and asset protection before entering any contracts. Especially if big money is involved.

I could assist with that.

Yez. Buy it in the name where you want the income to lie

Generallynot a good idea to have joint loans if you can avoid it.