Total Members: 159,376

charliefaddoul

  • Hi,

    I am planning to change from R1 to R4 zoning.

    The block of land meets all the requirements, just wondering if anyone knows or has experience in doing so.

    Thanks,

    Charlie

  • charliefaddoul replied to the topic To Trust or not to Trust! in the forum Legal & Accounting 1 year, 6 months ago

    Hey Toby,

    I also had this issue surrounding borrowing capacity of trusts where I received conflicting views, with everyone saying it can’t be done.

    I eventually got to the bottom of it, it can be done. You just need to find a broker that understands what they are doing. My broker even sent me screenshots of Bank Policy and emails from CBA and…[Read more]

  • charliefaddoul started the topic Lending Strategies for the USA in the forum Help Needed! 1 year, 7 months ago

    Hey Steve,

    I am now looking to invest in the USA.

    I was wondering if you would kindly please share any secrets/stragegies.

    Am I also able to increase borrowing capacity by purchasing in trusts in the USA?

     

    Please let me know.

     

    Kind regards,

    Charlie

  • charliefaddoul started the topic Personal guarantees in the forum Help Needed! 1 year, 9 months ago

    Hi everyone,

    I was just wondering if anyone knows any banks that do not require a directors guarantee for a property that is positively geared.

    If someone could please name these banks (Steve says some banks offer this) and the requirements for lending, could you please let me know as I have the 20% deposit required but preferably do not want to…[Read more]

  • Hi Steve,

    I find this strange as I spoke to the business bankers of all Big4 banks. I also asked for there managers, which confirmed policy’s that a directors guarantee is a personal liability even for a positive cashflow property.

    All banks had similar reasoning, and when I explained to them that I do not have any loans (since the company that…[Read more]

  • Hey everyone,

    I was wondering if someone could please provide a list of banks and lending institutions that do not consider a directors guarantee as a personal liability.

    All Big4 banks do not allow income to be recycled multiple times, because the directors guarantee is considered a personal liability.

    If someone could provide a list, it…[Read more]

  • charliefaddoul replied to the topic Seeking knowledge on structures in the forum Legal & Accounting 1 year, 11 months ago

    Hi Mike,

    Thanks for our phone conversation today, was great speaking to you and absorbing your knowledge.

    The link to email you does not seem to be working, do you mind providing me with your email address.

    Thanks,

    Charlie

  • charliefaddoul replied to the topic Accountant reccomendation? in the forum Help Needed! 1 year, 11 months ago

    Thanks Benny for passing on this information, and thanks Steve for letting me know.

    I will be in contact.

     

    Cheers,

    Charlie

  • charliefaddoul started the topic Accountant reccomendation? in the forum Help Needed! 1 year, 11 months ago

    Hi everyone,

    This question is directed to Steve Mcknight aka The Keymaster.

    ——————————————————————————————————————————————————————————————————–

    Hi Steve,

    I hope you had a Merry Christmas and Happy New Year!

    I am…[Read more]

  • charliefaddoul replied to the topic Using business income as guarantor to a loan in the forum Help Needed! 1 year, 12 months ago

    Thank you Steve for the reply,

    I will definitely have to look into the specifics to get a figure for borrowing capacity.

    Thanks,

    Charlie

  • charliefaddoul replied to the topic Using business income as guarantor to a loan in the forum Help Needed! 2 years ago

    Thanks Benny for the reply,

    My question was a bit broader, I should have included more detail.

    Basically, if a business has acquired assets with its revenue and incurred debt to expand business operations, will the banks still be in the position to lend money, based on the revenue or net worth of assets. So for example, would the business…[Read more]

  • charliefaddoul replied to the topic Investing near mining towns in the forum Help Needed! 2 years ago

    Thank you Benny for this insightful answer.

    I am going to continue researching the town and gather the data you mentioned. I have also taken a hard look at the training centre articles, which as well were very useful.

    I am concerned though as a lot of online articles mention climate change, and the transformation to a carbon neutral world, so I…[Read more]

  • Hi everyone,

    I’m in the process of acquiring a cashflow business. In Steve McKnight’s book he talks about using income from a job and becoming a guarantor for the loan. I am wondering if this is the same process with business income.

    So the question I am asking is, can the revenue of a business be recycled using trusts? And also will the banks…[Read more]

  • charliefaddoul started the topic Investing near mining towns in the forum Help Needed! 2 years ago

    Hi all,

    I have found a few properties that meet Steve McKnight’s “The 11-Second Rule”.

    These positive cashflow properties are located in Emerald and Mackay, where vacancy rates are low and there is great positive cashflow.

    However, although these towns are well diversified, they a good amount of there revenue is brought in from mining.

    So my…[Read more]

  • charliefaddoul replied to the topic Seeking knowledge on structures in the forum Legal & Accounting 2 years ago

    Thanks Benny,

     

    I re-read the book and now consolidated my understanding.

    I look foreword to applying this knowledge.

    Thanks for your help,

     

    Charlie

  • charliefaddoul started the topic Very Important question- interest rates in the forum Help Needed! 2 years ago

    Hi everyone,

    I was online researching the rates on the Australian Government Bonds for the 30 year period. The Bond has a yield of 3.722% (last update 13 Dec 2022 6:15 GMT+0).

    This is where my question comes in. I am seeking to know if the Bond yield gives an indication of interest rates over the 30 year period. Does a correlation exist between…[Read more]

  • charliefaddoul started the topic Seeking knowledge on structures in the forum Legal & Accounting 2 years ago

    Hi everyone,

    I want to know what the best possible structure for holding properties is and the strategies that the billionaire’s use.

    Under a trust structure, the profits are able to be distributed to the beneficiaries.

    However, I NEVER want to own anything in my personal name ever and do not want to receive distributions personally for me or…[Read more]

  • Thanks Benny,

    I received further advice and a second opinion from another lawyer, which did confirm that trusts split asset/control and provide protection from being sued.

    I will be more careful in the future when asking these questions, taking chances is not worth it, especially since it could lead to r…[Read more]

  • Thanks for the reply Steve,

    I have sought external advice again and the assets are actually protected in a trust. I am unsure of what the lawyer’s view of trusts is, but I am going to take it that it is wrong, especially since so many people buy properties in trusts specifically for that purpose.

     

    Charlie.

  • Hey everyone,

    I am receiving conflicting views from my lawyers and accountants and it is making it very difficult for me to understand things.

    One of the things I have been told by my lawyer is that holding property in a trust won’t protect your assets from creditors if I ‘benefit from’ the property.

    Therefore, I have been told that it does not…[Read more]

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