Hi all
I am new to this site but if anyone has any experiences/info/standard docs etc to share re agreements and bonuses/hazards learnt investing with family that would be great. I am investing with my daughter in an investment property as a half share (yet to be found) and want to make sure we have thought of all the blocks etc if any. We want to create an agreeement together prior to purchasing a property hence my request for standard docs or sites that may have something I havent found yet.
Thanks
SandyHi Sandy
Welcome to the forum and i hope you enjoy your time with us.
Will you be investing with your daughter in a Tenants in Common capacity or merely as an investor.
Who will be providing the deposit for such a new venture.
Depending on the answers to the above try the following link this could be useful place to start.
http://www.lawcentral.com.au/CreateDoc/createlink.asp?docId=60
Richard Taylor | Australia's leading private lender
Hi Richard
We want to go in on 100% so no deposit from either of us if possible. Not sure about Tenants in Common rules versus investor. Am new to this although I have good background in tax and investing etc workwise but just not personally yet as an investor, and was a while ago so rusty on latest rules etc. Neither of us will live in it (at least not for a long time if any) Will check out the rules and advantages for both options and see how I go from your site you suggested. I need a tax deduction (earning high salary) but we want to try and find something positively geared also (after tax deds considered) if that makes sense.
Thanks for your reply though Richard.
SandyWhat you are probably after is a partnership agreement
http://www.netlawman.com.au/bizdoc/partnership-agreement-australia.php?sc=448&gclid=CPGD9JDvt5UCFQsQagod2HoXRQ
https://www.docdownload.com.au/document/group.psp?group=legal,49717
http://www.lawcentral.com.au/CreateDoc/createlink.asp?DocId=11
http://www.rpemery.com/online/partnership-agreement.html
http://www.sbceastmetro.com/downloads/partnership-agreement.pdfThese sites may be of interest
Thanks Dukster for all links and info. Yes am arranging to see my acct this week as first option but want to make sure we have covered most options and thoughts we should have. She has had investment property before but with a boyfriend (now sold tho- the property not the bf lol) and was in NZ but had a type of prenup with him so is aware of the necessity etc. Will look at all your links much appreciated.
SandySandy
100% finance with no other equity or other assets might prove a little harder than you think.
Couple of lenders left in this market and they are very picky. Especially when it comes to the security property, post code and your asset backing.
Richard Taylor | Australia's leading private lender
Thanks Richard. Any ideas who we should look at initially? She has done some basic searching and came up with Aussie Home loans as a potential according to the mortgage broker (her contact as overview initial meeting) but I have no other facts on this tonight before I chat with her again tomorrow. Is this something you work with your clients if the 'picky bits' work or do you like to stay away from these loans? ie maybe I should come to you?
I see you are in Brissy..so am I.Cheers
SandyForgot to add..when I looked into investing about 2 years ago I also got Rams as a poss but will need to check if they are still offering 100%.. Just a note fyi to add to my picture
Thankfully i wont use RAMS anymore but from memory i think you will find it is only available on their First Home Buyers Loan these days.
Richard Taylor | Australia's leading private lender
Thanks again. re my enquiry above if you would be able to assist otherwise maybe I should email you directly as you are in Brisbane and so am I. But if you dont work with 100% loans anyone you could point me to that is decent?
CheersSure Sandy shoot me an email anytime and I would be happy to answer it.
Richard Taylor | Australia's leading private lender
I see you are in Brissy..so am I.You must be logged in to reply to this topic. If you don't have an account, you can register here.
