Coalfinger replied to the topic Sell Sydney IP now or in the next few years? in the forum General Property 8 years ago
The rent you get from Sydney property is low when compared to what you have to pay to buy the property.From an income viewpoint it is a poor investment compared to quality shares.The saving grace is capital gain,but you can experience a long period of no capital gain after a boom like we have just had.
Coalfinger started the topic Option Agreements in the forum Help Needed! 9 years ago
I am thinking of taking out an option agreement to be able to buy my nephews house in the future in case i get left carrying the can,because i am planning on co-signing on a mortgage with him.I see this as a safeguard for myself in case something goes wrong,anyone have any ideas?
Coalfinger replied to the topic using shares as security to reach 80% LVR? in the forum Help Needed! 9 years ago
Only one way to find out,ask the bank.If the shares themselves can be used as security without a margin loan then fine,but margin loans are designed to buy more shares & the interest will then be tax deductible.If you use the margin loan for other purposes the interest is not tax deductible.
Coalfinger replied to the topic CO-SIGNING ON SOMEONE ELSE'S MORTGAGE in the forum Help Needed! 9 years ago
He wants to buy out his ex wife’s share & doesn’t have the required deposit or income to support the mortgage.I thought i could co-sign on the mortgage & then he & his new girlfriend could live in it for a while then rent it out.He could find cheaper rental digs & his girlfriend might get rent assistance while he claims depreciation & interest etc…[Read more]
Coalfinger started the topic CO-SIGNING ON SOMEONE ELSE'S MORTGAGE in the forum Help Needed! 9 years ago
I am considering co-signing on a mortgage with my nephew so he can buy a house.What happens if he cannot keep up the repayments,will the bank foreclose and sell the house or can they demand that i make the repayments ? Anyone had experience with co-signing or being a guarantor ?
Coalfinger posted an update 9 years ago
Anyone had experience with being a co-signer on a mortgage for someone else’s home,what can happen if they can’t keep up the repayments.
Coalfinger became a registered member 9 years ago
