Perhaps your partner/family could get the personal loan and you borrow the money. Of course you pay them back.

Rgds.
Lucifer_au

You might have to get permission from a foreign review board or equivilant.

A way round it, is to use a coporate strucutre (so you don’t need citizenship).

Rgds.
Lucifer_au

Interest only loans could bump up the cashflow from the property (should get an extrea $20-$40). Make sure you check out what going to happen with future employment.

Lastly the RE agent might be a bit generous with what s/he thinks the prop. will rent for – I suggest some more due diligance.

I get round $360K gross borrowings (from a bank to a wraper) as well. If you paid off your credit cards you could borrow another $40K, so I would highly suggest you pay them off ASAP (or even take out a personal loan, and using the saved interest that you paid on your credit and apply to your loan (that part is the most important part!). Also cut…[Read more]

Go here:
http://www.firb.gov.au/content/real_estate.asp

Rgds.
Lucifer_au

I asked up front how much this was going to cost (I haven’t paid this much for a specialist surgeon!) and so would like to get value for money from this first visit.

>They can be quite expensive!

1. What should I take to the appointment in the way of paperwork/figures?

>The first thing you’ve got to consider is time constraints, theres no p…[Read more]

Get a corporate trustee, as this places the lawsuits further away from your assets.

It might be a bit expensive, but considering you pay little to no tax and you are safe from lawsuits, it is worth it.

Rgds.
Lucifer_au

You can go guarantor on the loan, but simply going guarantor doesn’t mean much to the banks anymore (they dislike repo’ing guarantors property, esp. the family home), so they still will assess her on the main loan criteria and if she doesn’t qualify then they will simply deny the loan.

There is also problem if you try to get the loan, but she ‘…[Read more]

I do not know wether it is illegal, but I would suggest big time that you change your IO to P&I, esp. if you are doing 30yr wrap (the buyer could be one of those people who just refuse to re-finance with the bank, this is an important point to consider).

Although it would be good to have IO and then when you find the new buyer to move to P&I,…[Read more]

Only wraps get CGT exemption (mainly because you are vendor financing a product, just a large product).

I’m a bit surprised you wouldn’t use trusts at all though, as you can quite effectivly shelter income.

Also offers more security aginst lawsuits (company directors can still be personally liable for certain things).

Rgds.
Lucifer_au

You could pay the ATo over 6 months and the banks would see this as the ability to pay off a mortgage (i.e. the see this a bit like savings), though make sure you go through a mortgage broker.

I would also get the book “Money Secrets Of The Rich” by John Burley, I could give you more advice but it is totally irrelevant if you don’t control your…[Read more]

1. After you have settled the property, so pretty much immeaditly after you have bought the property. You can get a database of new buyers before hand though (just make sure you know the area you will be targeting).

2. The ATO takes a view that the houses are stock, so no CGT to pay, more…[Read more]

I understand wy the NSW gov. decided not to tax farmers. Can you imagine the land tax the would pay??? Yes so you have XXXX miles so weve decided to tax you 3.2 million. Thanks.

Considring how large farms have to be to be profitable and how it basically puts otherwise vacant land to use (in alot of cases), and how it reduces our balance of…[Read more]

He might think you are fishing and while obligated he might think it’s way to low and too close to the last offer that was rejected.

If you go to through to the owner directly, you might be getting up this agents ‘goat’ (as Kath & Kim so elegantly put it), and he might say that your fishing and you don’t have any real intention to buy the…[Read more]

No it only appies to WA.

Rgds.
Lucifer_au

From what I know about LO is that you cannot claim FHOG, because if you try to claim FHOG you are selling the property, and because you are selling your client cannot get Rent Assistance, while with LO’s you are not selling, rather leasing so you can claim Rent Assis. but not FHOG.

Rgds.
Lucifer_au

It shouldn’t be a nightmare, as there are a number of options. First you could put the propertis in a legal entity (trusts for example), where you can distribute money how you want (so you would give cash/rental income to the person on the lowest tax bracket).

Or you could buy the properties in your name, and only you would get taxed on rental…[Read more]

“Just as i thought………..no takers eh? Plenty of hot air though!”

Ever herd of going to a different state??????

Or looking a bit harder?????

Just becaue you can’t find the deals, dosen’t mean there not there.

You might have to even change strategies.

So sorry not everyone rushed to your post but many of us have better things to…[Read more]

Usually with wraps we try to go for payments near the current rentals and yours is double + more, so this is the problem your facing. Perhaps reduce monthly and increase price of house, to try and get the monthly down a bit.

People see rent money as dead money, but they look at this kind of deal and they say – it’s much cheaper to rent… even if…[Read more]

Heres some info:
http://propertyinvesting.com/strategies/wraps.html

Ask if you need any more details []:

Rgds.
Lucifer_au