Forum Replies Created
I’ve looked into Japan. It can be done with Aussie banks there like NAB, but as Cameron says you need to be working there, or at least earning money in Yen. To qualify you would need a stable job of at least 2 years history, and if you ever moved back or stopped earning in Yen, the loan would need to be renegoitated – ie you would have to apply again.
From memory the maximum LVR was 70-80%.
Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
what are you thoughts on capital gains over the enxt years years? If you think there will be none, then maybe you are better off investing elsewhere and waiting a bit before getting back into property.
Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Isstreet
Are you aware that the information you posted above is from a UK source:
http://www.businessomatic.com/html/how_to_claim_free_land_and_pro.htmlThis site is mainly concerned with Australian Investment Property, so I would think the above wouldn’t necessarily apply here.
Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Its great if you can get both. But if you had a choice, I would certainly go for capital growth.
Buying cheap property in an area with little prospects of increasing in value is not worth it. You will be faced with many problems and high costs. what if you are making $50 pw +ve cashflow and rates rise, or the hotwater system busts. This could eat away all benefits.
Capital Growth is not guaranteed, but in certain areas, it is more likely than others. This is what will make you rich.
Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
I beleive you can sell it to yourself for whatever amount you fancy, but for taxation and stamp duty purposes you will be required to calculate the amount at market rates.
Maybe you will need a few valuations to prove the value if audited.
Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Paul, that’sa really good booklet isn’t it!
Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Wow, what happened? Identify theft?
Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Sometimes it is difficult to get the lendeer to agree with a revaluation quickly if there is LMI involved. It is generally 6months if so. But one way around this is to suggest you are going to another lender.
Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Its probably not a good time to sell.
Would you be able to get a ‘flatmate’ to help out with the repayments? – for a while at least?
Or move out entirely and rent it, while you rent somewhere cheaper?
Then you can sell when the market picks up.
Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
I don’t think anything is guarranteed.
There are various proeprty trusts out there returning about 10%. There are also mortgage companies offering similar, but some have gone under recently – eg. Westpoint.
Whatever you do maybe split up the funds into several investments to reduce your risk of losing the lot.
Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
What about some ‘latice works’ (not sure on spelling) ontop of the fence, and then put in some climber type plants like ivy? This may be a quick solution, and then also plant some fast growing trees there as well.
Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
I’ve been involved wiht a few partnerships involving property, and have seen a few clients too. They generally don’t work out very well.
To avoid problems, it is best to have everything documented at the start. Think of all the possible things that can go wrong, and work out a solution before it happens.
Look through these posts, there was one a few weeks ago about a guy getting sued by his partner in a property investment.
Maybe a better way would be for you just to borrow money from your partner for the deposit, and get the loan and title in your name only. Pay a fixed interest rate (eg. 15% seems common) and that keeps them out of the deal, so it is easier to control. After you get some equity, you can increase your loan, and pay them back – then maybe borrow again for the next one.
Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
If St G, then it is called the Loan Extension Fee. St G have 2 options on their 100% loans, one option is the standard LMI and the other option is their own self insured one which they call the LEF.
LEF for a 100% Lend is 2.60% of loan amount
LMI for a 100% lend is 2.10505 for loans under $300,000.LMI is a bit cheaper,
Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
http://www.lawcentral.com.au
http://www.taxlawyer.com.auTerryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Your mum would probably have to sell it to you, = stam duty and changes in insurances, (maybe higher premiums).
In the end, it is nto going to make much difference. Lenders don’t really look at vehicles. They are depreciating assets and everybody exaggerates their worth.
Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
In this case it probably means make sure they ahve assets before suing.
Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Originally posted by ogilvy:Not directly related to this question but has to do with the FHOG. Are there any occasions where you can receive 2 x grants for one property (in NSW that would amount to $14000) if the property was listed under 2 owners ? I didnt think so but a friend of mine was adamant that this was possible.
Anyone?
[offtopic]
I beleive it is only available jointly, ie shares by the two owners.
Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Don’t fall into the trap of selling a good growth property jsut to invest in inferior cashflow property. You will be worse off in the long run. $250K is not much debt on a property like that. Acreages near teh cities are becoming scarcer, making values rise quicker than average homes. I’d be hannging on and using the equity to buy more.
Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Originally posted by DraconisV:Um, it being unemcumbered. Well its not unemcumbered for me, its unemcumbered for my mum. She purchased it(like on the forms) and i payed her and payed her back(the rest). So its in her name, so is the insurance and rego.
Um, when I finish paying her off, what happens. also what happens with the ownership,insurance and rego when looked at with the assest/liabilities(the whole loan situation).It looks like its your mum’s asset, not yours then.
Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Get some proper advice. You may lose the CGT exemption if you rent out part of your place. You probably could still get the grant though.
Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
