Have been reading this forum lately & amazed at the stuff I've learnt. I feel i'm a bit closer to feeling confident about making the step into property investing but have a few questions regarding my situation that I would like answering…greatly appreciate any comments from anyone.
I'm considering selling my PPOR to a trust (not yet set up) as my first IP. The mortgage left on the PPOR is very small, so for example the equity is $350000. When the trust buys the property I presume the equity will just be transferred into the trust. If I rent out this property, i will have a +ve geared property as any rent i receive is income. I then hope to buy another IP in the same trust, which will be -ve geared. So in effect I can use the loss from this property to offset the income from the first one. Do you think this is possible?
Also, will a bank have an issue if the equity is now in the trust & not in my name? I want to get a LOC which is not a problem if my PPOR stays in my name but if I sell it to the trust, do you think the bank will have an issue with that?
Lastly does anyone know of any resonably priced, property specialised accountants/lawyers/brokers in Brisbane (ideally on the southside)?
Thanks
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