aque replied to the topic Contaminated deposit for 80% loan in the forum Legal & Accounting 9 years, 11 months ago
Hi Benny
Thanks for your feedback!
aque replied to the topic Contaminated deposit for 80% loan in the forum Legal & Accounting 9 years, 11 months ago
Hi Benny and Terry
My goal is to buy a PPOR and aim at a strategy I can have all my saving in PPOR and all IPs at 100% loan for max tax deductibility.
I think the method Terry outlined is very powerful and it is even more powerful when combined with debt recycling.
Thanks a lot
aque replied to the topic Contaminated deposit for 80% loan in the forum Legal & Accounting 9 years, 11 months ago
Thanks Terry. But now I am lost how is it possible to refinance loan into loan 1?
aque replied to the topic Contaminated deposit for 80% loan in the forum Legal & Accounting 9 years, 11 months ago
For the first 2 seconds I thought your reply was a joke. But then I realised this is a brilliant idea!
Thanks Terry!
aque replied to the topic Contaminated deposit for 80% loan in the forum Legal & Accounting 9 years, 11 months ago
I thought borrowing 104% is not possible. Or it is possible if I use 20% use a security for the loan without triggering LMI?
aque replied to the topic Contaminated deposit for 80% loan in the forum Legal & Accounting 9 years, 11 months ago
Thanks guys. I have corrected. I am wondering if there are better ways than debt recycling to overcome this issue?
aque started the topic Contaminated deposit for 80% loan in the forum Legal & Accounting 9 years, 11 months ago
Hi
I have 2 IPs all with 80% loan. Any equity loan I draw from these IPs for my PPOR will not be tax deductable. Hence, it seems always a good idea to have 100% loan (if you can) for purchasing IPs to max tax deductibility and use funds for PPOR.
The only to overcome this case I can see is to setup a debt recycling structure on the PPOR. Am I on…[Read more]
aque replied to the topic Is this a good deal? in the forum Help Needed! 12 years, 3 months ago
waydo77 wrote:
5.2% yield after body corp is taken away from rent, sounds pretty ordinary for a unit, depends where it is i supposeIts loction is very good. There are 10 units in the complex. Maybe I shall have the hope with persuade other owners to get cheaper body corp?
@6% interest rate, 25 per week can cover a 22k loan. I am just a…[Read more]
aque replied to the topic Is this a good deal? in the forum Help Needed! 12 years, 3 months ago
RyanJD wrote:
You need to compare the rentals in the complex and in the suburb to the unit your looking at. Will the rent be the same? Is the rental demand high or will it be vacant for a while?Most body corporate fees are tax deductable but I don't belive sink fund fees are from what I've read.Have you had someone looks at the strata paperwork…[Read more]aque replied to the topic Loan w 100% offset account in the forum Finance 14 years, 2 months ago
Glad to hear Homeside is the cheapest one! I am having a loan from Homeside!
aque replied to the topic Conveyancer in Queensland in the forum Help Needed! 14 years, 2 months ago
Do not use Topgun. Thats my advice
aque replied to the topic Michael Yardney’s living of equity ideas, whats wrong? in the forum Help Needed! 14 years, 2 months ago
Thanks TerrywWill remind myself searching the forum first before asking next time! Cheers!
aque replied to the topic Previous Expenditures on PPOR before it comes an IP in the forum Legal & Accounting 14 years, 2 months ago
Hi Mr501Thank you for your kind help.I am wondering if you are an accountant and willing to take a new client? If so, could you PM me your details?Regards
aque replied to the topic Previous Expenditures on PPOR before it comes an IP in the forum Legal & Accounting 14 years, 2 months ago
Thanks for your reply.If I get some improvement or repair work done now and ask tradies to have the invoice date after my PPOR becomes an IP, is it legal?
aque replied to the topic Previous Expenditures on PPOR before it comes an IP in the forum Legal & Accounting 14 years, 2 months ago
HI Mr5o1 Thanks for your reply.I guess it is better to do any improvements or maintenance after it becomes an IP.Q3. How do I notify ATO my PPOR becomes a rental? Can I still have all my mails sent to that address? I mean, it will be rental but it is still my PPOR so I do not get CGT. A little confused about evidences.I guess I really need to talk…[Read more]
aque replied to the topic Previous Expenditures on PPOR before it comes an IP in the forum Legal & Accounting 14 years, 2 months ago
Hi GuysThank you very much for your help.I assume stuff I bought years can still be depned if I employ a`quantity surveyor.