Defaults are at an all time high and foreclosures have been artificially restricted for the last 9 months since the title fraud incidents. So don’t go rushing in.

Will be a long time before you see capital growth due to the credit restrictions in place.

What was the benefit you were trying to achieve in buying the properties in a trust with the other parties? Why didn't you just keep ownership seperate? Seems like keeping ownership separate would of given your much more flexibility and still allowed you to partner with the other couple down the track to develop or sell if you wanted to.In terms…[Read more]

Peter456 wrote:
He may give income from the property as "gifts" or I may just get him to use it to take over payments of some of my personal ongoing bills. Are there any other means you would know of achieving this task?

Assuming the property/trust is cashflow + as you imply, any "gifts" as you call them are actually considered income and must…[Read more]

I think FIFO will be a big problem especially for places on the east coast where it is relatively easy/quick to transport people back to main hubs/capital cities, as it's what most workers will want.There has been a couple of articles recently which have focused on how companies have been starting to offer more social benefits as a way to…[Read more]

I'd be glad to see Negative Gearing phased out on existing property, I can see the arguement for keeping it around for new constructions (only from the point of view of an incentive, but it could easily be removed and replaced with some other kind of incentive).There is no way the CGT exemption for PPOR should be removed however. When you sellup…[Read more]

Terryw wrote:
On marriage the assets of one partner do not necessarily become assets of the spouses jointly. If there is a divorce or a separation then the Family Court can make orders to transfer assets, including that of trust assets, but until then the assets are the assets of the individual under normal terms.

That is true, it depends…[Read more]

If your father hasn't created any kind of binding financial agreement, I think you need to be open to the fact that his new wife is likely to get 50+% of the assets. It will no longer be your dads assets but property of the marriage, your dad can't give away his wifes share of the assets in his will only his share.Similarly I would think the same…[Read more]

What I would like to see happen:State Government Remove Stamp Duty & rely on changes to land tax to make up the short fall, this should reduce land banking/property barrens & would allow a better flowing economy with more mobile workers.Remove Negative Gearing & the massive speculation in housing (it should be predominantly used to live in and…[Read more]

Then you don’t qualify.

I.e if you ever live in a property you own, you are no longer illegible for FHOG

My opinion is to be careful with any comparisons of Gladstone to places like Port Headland / Karrathra, they are trully remote & out of the way. Gladstone has another major city in Rockhampton only being ~1.5Hrs away, with little town's along the way. They are already much larger established towns in their own right, which will mean less…[Read more]

It's ok to own an investment property as long as you have never lived in it.

The really High Voltage Powerlines, especially on towers have a massive easement, which means you could have a large swab of your land that you are unable to build on (can get away with temporary structures, e.g. car ports etc) but they can be demolished and and removed at your cost. I can't exactly remember the distance, but think rotating the…[Read more]

An accountant, its their bread and butter. From the sound of it you are working in mining or the like. If so I would highly advise seeing an accountant even just for the job aspect, the PPOR/Investment can just be a bonus (ask while he gives you tax advice on what you can claim for the job, so you know what reciepts and documentation to keep)..As…[Read more]

British Buyer, what are your current thoughts on the foreclosure fraud issues mentioned of past ? (or possibly even current?) Are you now satisified that banks have done proper(bullet-tight) due-dilligence on the properties they are listing/have relisted? If not what do you intend to do to protect yourself.Also what are people's thoughts &a…[Read more]