You have not debt on your home, and the others would not be costing too much after taking into account tax breaks and rent, so why sell? You should be buying more!

Terryw
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Buying o/s is complicated and there will be extra costs with accounting remitting money, exchange rate fluctuations etc. Many people I have spoken to who have bought in NZ have said it wasn’t worth the hassle to buy just 1 or 2. I’m not saying don’t do it, just something to keep in mind.

Terryw
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And this one for SA:
http://www.landservices.sa.gov.au/4Lands_Titles/Searching_Lands_Titles_Records/

Terryw
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Make sure you get an ABN asap. It is very hard to get a good, cheap low doc without having held an ABN for 2 years. If you haven’t got one, that means you are turning over less than $50,000 pa, which could be the case, but will mean it will be hard to qualify for high loan amounts. You still must declare an income for low doc loans.

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MarkK

I don’t think you are required to actually distribute the trust money, you just make a book entry. The beneficaries will have to declare what they ‘receive’ as income, and you will need an agreement with them that they give the money back to you.

There is still benefits if the ‘owners’ of a property are low income earners. Under certain circumstances, if someone goes bankrupt or sued, the trust assets are unable to be touched as they do not belong to the owners. So extra asset protection is available.

With beneficiaries, you try to include as many people as possible without naming them. eg. any former, current or future sposue and their chidlren, parents, grandparents, cousins, uncles, aunties, step childrent, adopted children etc. You are probably a beneficiary of my trust!

Terryw
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Try this one:
http://www.nrm.qld.gov.au/property/

Terryw
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You can prove income from existing wraps by showing bank statements with regular deposits. If the lendder queries this, it could be backed up with your installment contract.

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The latest GE postcode list is available online at http://www.gemoney.com.au/Broker/docs/pl_PostCodes%20IX.xls

Freedomfighter, you would be looking at a rate of around 8.15% for a 80% LVR low doc with GE Money.

I’ll let you know how that application goes Steven.

Terryw
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out of those choices, 1 of course. Why bother making $50 pw when you can get $50,000 in a week?

Terryw
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If each person has equity, they could draw down individually on that equity and you could form some sort of JV to do the project.

Terryw
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