Well that makes a little more sense Terry.

I have a DT with company trustee which I control. The DT has had an ABN for many years. If I wished to take out a loan for a property which I wanted to be owned by another DT (or HDT) but with the same trustee company would I be able to use this ABN?

Thanks
Elka

Thank you bridgebuff.

Smoke and mirrors in other words. [smiling]

Originally posted by CJWentworth:

At the moment I don’t think anyone’s considered a legal Carer for my Dad. How would that effect things?

Sorry I must have phrased that very badly.

What I meant was that it sounded as if the plan was for your dad to stay in the house to look after your siblings and your mum to move out. GMH454 scenario I…[Read more]

Hello CJWentworth

Maybe I’m wrong but from your original post I get the idea that you and your brothers and sister are now living with your father in the house as the carer and not your mother.

The only reason I am asking is that if this is the case I am not sure if GMH454s’ plan will work as it changes the dynamics of the situation.

Hello groages, Terry

I’m begining to feel like the 5th leg on a chair as Terry is a trust guru. [smiling]

You might also like to think about the fact that a HDT works just like an ordinary trust if there have been no units sold so you will still have complete discresion over profit distribution throughout a large extended family.

It’s possible…[Read more]

Hello Paul

On browsing through some of the back threads/posts I found yours unanswered. Even though I am not Marc I will give it a shot. [smiling]

Yes the 20% Marc uses will include all expenses except the interest on the loan.

In a residential IP the tenant pays electricity and water usage.
The other charges on your water bill are charged to…[Read more]

Hello jaineyb

Like L.A. Aussie I am not qualified to give advise either but will give you my understanding of each of the situations you discribe. I’m sure someone will be awake enough to correct me if I am wrong.

I don’t actually think that you need to do anything as far as advising the bank that you are going to rent out your PPOR. I hope one…[Read more]

Hello stayfly

There is some good reading on the subject of inheriting a dwelling on the ATO site.

http://www.ato.gov.au/individuals/content.asp?doc=/content/36924.htm&page=1&H1=&pc=001/002/026/017/006&mnu=5060&mfp=001&st=&cy=1

Hope this helps. [smiling]
Elka

This is a link to a good post by Terry as to how HDT’s work to effectively allow negetive gearing in a trust. Actually the whole thread is of interest to you I think.

https://www.propertyinvesting.com/forum/topic/23356/3.html?sortfield=&sortorder

Cheers

Hello groages

As Terry said depreciation is an expense that you can deduct from your income.

To clarify, your simple equation should look like this ..

Profit / loss = total income(rent) – depreciation – other expenses (interest, rates, repairs etc.)

“I’m not sure that I follow. I thought that depreciation was used to make a property as close…[Read more]

“I am happy to go first. Here goes.”

Hello L.A. Aussie

Good idea but where is your story? [biggrin]

“To be on the conservative side, I always underestimate expenses, over-estimate returns/income. It is a successful rule that I live by, and I wouldn’t quote blown up figures to ill-advise ‘simple’. ”

Hello L. A . Aussie

I’m a bit puzzled. This is the second post that I have seen you say the above. The first time I just thought that you had mixed…[Read more]

Originally posted by manofaction:

Have a property I wrapped some years back and all is well.

Hello manofaction

Surely you can’t terminate the wrap if they are paying on time ?. The fact that they are having a difference of opinion is not your business unless they are in breach of contract. i.e not paying off their loan with you or…[Read more]

Hello Terry

What a clear, easy to follow explination. Thanks. [thumbsupanim]

Hello Vyaw2003

From Terrys’ post

“An option is an agreement whereby the purchaser has the right, but not the obligation, to purchase something in the future.”

If in 6 months it was worth $800K instead of $1M you would obviously not excersise your option to…[Read more]

Did you ask your (ex)mortgage manager wether they would have allowed you to draw equity in the form of another loan?

Maybe they couldn’t/wouldn’t so your broker went elsewhere …i.e directly to the bank ?.

Don’t get me wrong. I am certainly not trying to find him an excuse. Whatever the reason for his actions he should have sat down with you…[Read more]

Hello queengucci

What a horror story. It seems to me that the bank should have picked up on the nonsensical request to refinance 2 loans to the same 2 loans specially as one was a fixed rate loan which not only attracted breakfree fees but a higher interest rate as well.

I would have thought that they would have queried this with you themselves…[Read more]

Hello Hemma

What a lovely offer. [thumbsupanim]

I wish I had something that needed an artists impression. However, I’m sure someone is developing at the moment and will take up your gift.

Good luck .[smiling]
Elka

Hello ausdmx

Here is a link to a thread about Dubai. It may be worth your while to read the opinion of a couple of people who know Dubai from either having been there or from living there.

https://www.propertyinvesting.com/forum/topic/24511.html?SearchTerms=Dubai

Hope this helps [smiling]
Elka

“On the question of capital gains: why is considered that I am paying him 50%? ”

Hello tera

Because you are or should be. Partially in cash and partially by taking over his share of the mortguage.

“e.g., Unit bought for 170k, after refurbishings is worth 200K, but we could sell maybe for more, say, for 210K. difference= 40K, profit each= 20K

I…[Read more]

Hello seank

There are several threads on this forum dealing with student accomidation.

If you do a search (under forum drop down list above) on this topic you will probably get some answers to your questions.

Hope this helps [smiling]
Elka