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First post, new to the forum.
I was searching out motel brokers in NSW (I’m also interested in Queensland) and found the forum.
Long story but I’m looking to buy a freehold passive investment motel ASAP. I’ve been in property for a long time but it’ll be my first motel.
I’m ready to buy now and have only really been ready for a few weeks now, but I’ve been looking for a little while and had seen a lot but perhaps didn’t understand how quickly for sale turns to under offer! Everything that I’ve looked into and wanted has evaporated before I could act.
I’m left now with just a couple of options. I have a feeling it’s because of interest rates dropping recently. Would you agree or is it normal for these things to sell quickly?
I’m a bit restricted on what I can consider because I survive on overseas income and the lenders won’t consider that for their sums so I’m trying to buy outright which restricts my budget. Once I get more established in Australia I should cure that with local income for their sums, but in the meantime I’ve only a couple of choices.
So I have two questions –
Does anyone know of a good broker that can definitely find finance that considers overseas equity and income as well?
Would anyone like to suggest an ownership structure? I currently have nothing better than buying as myself and relying on the lessee indemnity. Im not too impressed with complicated structures but at the same time perhaps I need advice on that. We were planning to keep our house in my wife’s name and the investments in my name and keep them separate from each other.
Something that bothers me about Pty Ltd is that your benefits from depreciations seem to evaporate when you then pay yourself the money as a salary as you’re declaring it twice so the depreciation results in no tax savings. If it’s in my name (or something else?) then the final taxable result is lower after depreciation and left alone after that.
Any tips would be appreciated.
