All Topics / The Treasure Chest / So what would you like to know? Unlimited Finance!

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  • Profile photo of Stuart WemyssStuart Wemyss
    Member
    @stuart-wemyss
    Join Date: 2003
    Post Count: 598

    Hi everyone,

    I’m racking my brain for a good topic to write an article about. It’s been a couple of months since I put pen to paper and I wanted to write another article to add to my website (to see if I can get my head into Personal Investor or API again).

    Obviously the topic needs to relate to residential and/or commercial mortgage finance.

    I would be very interested in what you guys (newbies and experienced investors) would like to know more about (in terms of finance). Are there any topics that you want more information about? What are you confused about?

    As an example, here are some of the topics I’ve written about:
    – No money down strategies.
    – Commercial finance.
    – Offset and LOC.
    – Fixed rates, etc.

    Once I’ve completed it I’ll get Steve or Brent to post it on this site.

    Thanks guys. [:)]

    Cheers

    Stu

    Property & Finance News
    at http://www.prosolution.com.au

    Profile photo of ADAD
    Participant
    @ad
    Join Date: 2002
    Post Count: 636

    Hey Stu,
    How about “How to apply for finance and come out with a smile.”

    Enjoy
    AD [:0)]
    (Andrew)

    “Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened, ambition inspired, and success achieved.”

    Profile photo of Stuart WemyssStuart Wemyss
    Member
    @stuart-wemyss
    Join Date: 2003
    Post Count: 598

    You aready know the answer to that one AD… ProSolution

    Cheers

    Stu

    Property & Finance News
    at http://www.prosolution.com.au

    Profile photo of wilandelwilandel
    Member
    @wilandel
    Join Date: 2003
    Post Count: 761

    Hi Stu,

    The thing that we (and I think others) really want to know is:

    When you set up a trust structure, what info do the banks require about prev. loans in the guarantor’s names.

    We have just set up a new trust structure, and are applying for finance, and the banks seem to want to know EVERYTHING applied in my name, our businesses name etc etc., which seems to defeat part of the purpose of changing structures.[8]

    I thought that when a new structure is set up, only prev loans in that structure name should be on the application, plus one or more guarantor’s tax return / group certificate. Isn’t that how you get unlimited finance, or have I missed something?????[:I]

    We need your advice and help please. If you hadn’t entered this post, I was going to try to ring you tomorrow. We feel that we’re being led down the garden path with the banks.

    If you need to discuss this further, our email address is [email protected]

    Thanks Stu,

    Wil an Del

    Profile photo of potzmoapotzmoa
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    @potzmoa
    Join Date: 2003
    Post Count: 5

    I would like to know from others how they maintain and expand their property portfolios while living overseas or in another city.

    Do people have their portfolios is one city only or do they have their property spread in one or more cities?

    I have blocks of flats in NZ and have them professionally managed. My first experience being my own landlord was not an easy one, chose the wrong tenant and spent more time worrying than enjoying the extra income. So having them managed is better for us and it is practical with us being out of the country.

    Profile photo of sushi03sushi03
    Member
    @sushi03
    Join Date: 2003
    Post Count: 33

    Hey Stu

    I am in the same boat as Wilandel. Just set up a trust and i am looking at a cpl properties on the weekend and just dont know about finance and who is the best institution/broker to go and see.
    (totally finance illiterate)

    Regards
    Alex

    Profile photo of JulianJulian
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    @julian
    Join Date: 2003
    Post Count: 232

    Deat Stuart,
    Could you talk about Asset protection, ie how to set up a trust…., will…..

    Cheers
    Julian [:D]

    Profile photo of The DIY Dog WashThe DIY Dog Wash
    Member
    @the-diy-dog-wash
    Join Date: 2003
    Post Count: 696

    Hi Stu

    We are at the same stage as Wilandel, we have a hybrid trust which our accountant created for us and we have done our research about how to use a trust, but how do we get this unlimited finance part going.

    Also is it possible for you to email a copy of your no money down article.[:)]

    [email protected]

    Cheers
    Leigh K[:D]

    Read, learn, grow but most of all just do it.

    Profile photo of C2C2
    Participant
    @c2
    Join Date: 2002
    Post Count: 518

    Hi Stu, I think this topic may be a good one for you. I’m currently in Japan like a few other investors on this site and can borrow money through Australian banks in Japan at interest rates below 2.5% for properties in Australia. The question is the pros and cons of doing this. I always find it tricky working out the exchange rates and some of the extra payment options if currency fluctuations put the borrowings outside the appropriate LVR. If you require any more info please ask and I can send you the info they have sent me. Thanks,

    C

    Profile photo of LeighLeigh
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    @leigh
    Join Date: 2003
    Post Count: 130

    Hey C2,

    You should be looking right into doing some investing if you can get loans at 2.5%. What are the basic qualifications for these loans and what sort of fixed rate and duration can you get on them? If I was in your position I’d be snapping up properties left, right and centre by using Australian JV partners!

    Stuart,

    As mentioned above, I think there is a lot of interest on the site at the moment for;
    1. Aussies investing in NZ.
    2. Unlimited finance techniques.
    Something else I personally think would be good may be a comparison between the Australian and overseas markets i.e. Can you predict trends in Australia by looking at the American market (things like interest rates and loan products, vendor finance etc).

    Cheers, Leigh.


    “All the world’s a stage, and you choose the role you want to play on that stage” William Shakespear


    Profile photo of BigCatBigCat
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    @bigcat
    Join Date: 2003
    Post Count: 4

    Hi! I’m new. Can someone tell me whether stamp duty can be tax-deductible when it comes to investment properties?

    Profile photo of johndjohnd
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    @johnd
    Join Date: 2003
    Post Count: 25

    quote:


    Hi! I’m new. Can someone tell me whether stamp duty can be tax-deductible when it comes to investment properties?



    Hi big cat, all direct and indirect expenses in relation to an investment prperty are tax deductable.
    cheers
    John

    Profile photo of bobbiebobbie
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    @bobbie
    Join Date: 2003
    Post Count: 13

    Hi there,

    Maybe I am wrong, but I think stamp duty is what is known as a capital cost and cant be written off as a tax deduction in the first instance like other costs. Stamp duty forms part of the equation when calculating capital gains.

    Someone correct me if I am wrong…

    Cheers Bobbie[:)]

    Profile photo of Stuart WemyssStuart Wemyss
    Member
    @stuart-wemyss
    Join Date: 2003
    Post Count: 598

    Hay, hay, hay we’re getting off the topic aren’t we???? [;)]

    Stamp duty is added to the Cost Base when working out a capital gain (Section 110-35)… that is…you work out a capital gain by…

    Sale price – index cost base = taxable gain

    Topic ideas

    Thanks everyone… keep them coming.

    Cheers

    Stu

    Property & Finance News
    at http://www.prosolution.com.au

    Profile photo of TIGTIG
    Member
    @tig
    Join Date: 2003
    Post Count: 8

    Dear Stuart,

    Could you please explain the correct structure for DIY Super? I’ve attended Peter Spann seminar in Sydney last month, and get very exciting about the speaker Barbara ??? from Taxpayer Organisation talked about setting up a DIY Super, then I can invest on property as joint venture between Super Trust & myself provided this Super Trust do not borrow any money for investment.
    As per explained at the seminar, due to the trustee & beneficiary can not be the same person (ie. myself), therefore it is better off to setup a company as trustee (Director is myself), then I can have myself as trust beneficiary.
    But, yesterday when I call the Taxpayer Organisation to enquiry more detail, also to consider joining their membership & setup trust package, the lady told me that I do not need to setup a company as trustee. I can be a trustee as well as beneficiary.
    Now, I’m totally confused. I’ll be really appreciate for any comment or advise, as I would like to setup DIY Super before 14 July 03.

    Many thanks,
    Grace

    Profile photo of Stuart WemyssStuart Wemyss
    Member
    @stuart-wemyss
    Join Date: 2003
    Post Count: 598

    Grace, a little off the topic of mortgages… however…

    To meet the definition of a self-managed super fund each member of the fund must be an indiviual trustee or the director of a corporate trustee (Superannuation Industry Supervision Act sec 17A).

    Therefore, you do not have to set up a company to be trustee. You can be the Trustee in person. The member and trustee must be the same person.

    Hope this helps.

    Cheers

    Stu

    Property & Finance News
    at http://www.prosolution.com.au

    Profile photo of TerrywTerryw
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    @terryw
    Join Date: 2001
    Post Count: 16,213

    Stuart

    I think you had better set the record straight on this ‘unlimited finance’ structure that Steve is promoting. A lot of people seem to be confused!

    Terryw
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://structuring.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of BigCatBigCat
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    @bigcat
    Join Date: 2003
    Post Count: 4

    Hi Johnd & Bobbie,

    Thanks for your comments. I’m not sure, I think maybe Bobbie is right – stamp duty cant be deducted from tax. Can someone confirm?

    I’m scared about property investment, though I’ve paid off my home and got some savings towards a 2nd property. Thinking about home&land packages, can someone out there (kindly) offer some tips? Pros/Cons?
    Thanks, big cat[:)]

    Profile photo of hwd007hwd007
    Member
    @hwd007
    Join Date: 2002
    Post Count: 247

    Yea I was gonna say that myself, until I scrolled to the bottom. What is this unlimited finance all about and how do I get a piece of it !

    [:P]

    Profile photo of hwd007hwd007
    Member
    @hwd007
    Join Date: 2002
    Post Count: 247

    I understand Stamp Duty as a capital aquisition cost and part of the loan. So the interest on the loan is deductable. So in effect the interest on the Stamp Duty component, can be deductible in effect, but Stamp Duty is not directly deductible as an expense item per say

Viewing 20 posts - 1 through 20 (of 28 total)

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