Ihave never heard of the landlord paying for part of the electricity before. The electricity should be connected in their name, so they are the ones responsible.

Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

Why limit yourself to canberra? There are many in Sydney and Melbourne to chose from.

Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

Do you mean Auction?

If so, it was probably cancelled due to the owner coming up with some money at the last minuite.

Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

I can recomend Matthew at Peter Worral Lawyers down there.

Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

Hi Red

I must say, this isn’t my experience with lenders. Whether you have a company or trust or just individuals, it doesn’t really affect serviceability. It all comes down to having the income in the first place, not the structure.

With getting a loan for a company or a trust, it won’t really matter if the entity has an income or not as the lender will want a personal guarrantee from the director and/or trustee.

Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

Establishing a trust can cost as little as $137.

Getting finance is no harder or different to getting a loan your self.

Personal deductions can be obtained by using a hybrid trust

Asset protection is very good with a trust.

CGT implications – with trusts the income retains its character as it flows thru the trust, so if the beneficiary is an individual they will get the discount. Am you can chose the individual to distribute the money to, potentially saving you thousands of $$$$$$

Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

I was going to purchase some land off the plan a few years ago and the solicitor picked up a few problems and I quickly pulled the plug on that investment. If I had used a conveyancer, they may not have picked it up.

However, conveyancers generally spend all day doing property transactions, so they tend to be good at this. Solicitors are often doing other things and many are unsure of the conveyancing proceedures. Solicitors also often just hand the matter to the non lawyer conveyancer in the office anyway.

I suppose it comes down to the person doing the job.

Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

just read the forum.

Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

Hi

You do not need a company to act as trustee, but having one would add protection.

Usually the directors of the trustee or the trustees themselves have to guarrantee loans of the trust. So having two directors/trustees will only create more risk by having 2 guarrantees.

Also beware of specificially naming beneficiaries on the deed. Some lenders insist on obtaining guarrantees from ALL named adult beneficiaries!

If you are going to set up multiple entities, maybe consider having control with one of you, and then set up the next one with the other person etc. This would depend on incomes and serviceabilities etc.

Not sure about the transfering of the units without stamp duty. I have had conflicting advice on this. Basically if you transfer the unit, no body is going to know as it is not public information, and only recorded by a minuite.

But the loan will be in the trustee’s name, and if you go and transfer the title at the land title office they will probably hit you up as they will see a change in ownership.

Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

He may be able to negotiate the terms to include them not listing this on his CRAA.

Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.