try staters try:

http://www.renovateforprofit.com
(an aussie site)

http://www.renokings.com.au

Terryw
Discover Home Loans
North Sydney
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I used to live in Japan, and know that Aussie banks over there such as NAB will lend money in Yen at Japanese interest rates (around 2%) to purchase in Australia. But you must be living there and earning money in yen. If you move back to Australia, the loan must be repaid.

Terryw
Discover Home Loans
North Sydney
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YC

The ATO wants to tax aussies on their world wide income. Have a look at the latest Taxpack – there are various questions on income earned overseas etc.

But the good news is Australia has various taxation agreements with other countries, so you may not be taxed twice if you have already paid tax overseas. I beleive that there is no CGT in NZ, so they want to tax you on this in Australia.

Terryw
Discover Home Loans
North Sydney
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Great to be starting so young. If I could go back in time, I wouldn’t go to uni, but start working asap, save a deposit for a cheap property and buy as many as you can afford as quickly as you can. Once you have done this, then maybe go and study or do a course in building while you are waiting for growth to kick in. Once you have equity, then you can go for a bigger project such as developing.

Terryw
Discover Home Loans
North Sydney
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‘wrapping’ is when you onsell a property to someone who pays you in installments. It is just like a normal sale – usually a 30 day or 42 settlement period. But with wraps you have a 30 year settlement period, you give the new purchaser permission to reside in the property during this period and they agree to pay you some interest and capital every month until it is paid off.

Terryw
Discover Home Loans
North Sydney
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Go back and have a look at some of your old magazines such as ‘your mortgage’ etc. Look for old predictions and see how many get it right. I don’t think it is very many!

Terryw
Discover Home Loans
North Sydney
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I agree with the others that you have to be very very careful – especially in this market.

One thing some people don’t realise is, even if you can onsell before completion you will not get you deposit back, or the profit until the whole project is complete and settlement occurs.

Terryw
Discover Home Loans
North Sydney
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I replied to a similar post a few weeks ago.

You could sell you share of the house to your spouse, and he/she could borrow to do so – deductible debt. The money released would be tax free and could be used for your PPOR. You may not even have to pay stamp duty on the sale in some states.

or it may be better to sell to a trust as Steven suggested.

Terryw
Discover Home Loans
North Sydney
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You are just looking in the wrong areas. You have lots of options open to you such as:
– Lenders that allow business add backs (may not work for your case)
– Low Docs
– No Docs
– Pure Asset lend type loans where they don’t care about your CRAA, Income, Asset levels etc

Terryw
Discover Home Loans
North Sydney
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Yes, these sorts of loans are not cheap – probably 10-12%. But these are only short term, so once you finish you can refinance or sell off etc. You wouldn’t need additional security, but the valuations have to stack up.

Terryw
Discover Home Loans
North Sydney
[email protected]