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hi there,
have you tried the local council. I have found them to be very helpful when searching for owners of the vacant house/block. They can give you an address but will not supply phone numbers. This is in SA so not sure about your respective area, but may be worth a try..
Good luck.Thanks Terry.
I am still an income earner but that is channelled through the family trust. Would we be better off initially just keeping our PPOR IO with offset account as to improve the cashflow and just keep new IP initially in our own names. I have been reading on the forums that some people get LOC via equity and then use this for deposits, insurance and onging running costs, short falls etc. The properties that I have been looking at are -tve geared, what would you recommend. ?
Regards PennyHi Richard
I was interested in your comment about selling your PPOR to a trust. Is this deductible as I thought that the ATO was no longer allowing this. I am also looking at purchasing IP have approx 450K equity with loan of 350K on PPOR and would like to pay this off sooner than later. Currently is IO . I have contacted bank and have been given pre-approval of approx 300k + costs as partner S/E. What would be the best way to proceed as we already have a family trust in place for our business. Would appreciate your feedback or if anyone wants to share their thoughts would love to hear from you.
Cheersthanks for info Richard. No the trust is a family trust and not PTY LTD, as far as tax deductabilty of interest is concerned I have been reading about property investment unit trusts whereby the trust purchases the PPOR drawing against the equity in the IP,s. Is this a hybrid trust which I understand that the ATO have clamped down on? Can anyone enlighten me?
CheersThanks for input Pk
Have decided that we are going to keep both properties and stickmout for long term although it will tie up cash flow as neg geared but am looking at purchasing another IP ASAP.hi Rabey
Am also new to these forums and have just started to venture into PI. I am in similar situation i that have PPOR still with mortgage about 200k equity and IP which is neg geared and having to top up each month. Have about 50k equity in IP. I am have IO loan on IP and P&I on PPOR. Is there a better structure so am not having to top up out of own funds, Im sure theres a smarter or more efficient way for me to structure . Would appreciate any advice as would like to move forward and purchase more IP in near future .
[strum]EllabooThanks for info Terry. We are intending to hang onto the original PPOP we first built as it is in great location and still I think has huge potential for future CG as in coastal location so I guess this may mean we could claim other as PPOR in meantime if we sell. Still tossing up our options, we would like to continue to invest in this area and hang onto IP however have a bit of cash tied up in it so am concerned about cashflow although probably have about 200k equity in both. Any ideas on where to next?
