@Qlds007: did you read all of the original question carefully? If not here it is:

• Participantmegb68062nd paragraph: “I have read on a forum that there’s not much point in putting a negatively geared property in joint names when the wife is not working. In my particular case my wife only works part time and she doesn’t earn much, only $25000 a year.” 

So obviously this person is looking to do negative gearing on his investment property, specially when he is in the high tax bracket which is a very wise move, unless you totally disregard the user’s aim as well as my comment. Now if you knew anything about negative gearing you would not put such a reply on my comment: “No sensible investors buys for tax reasons alone so i think it is best if we ignore the last posters comment”.

ALL sensible investors in the high tax bracket negatively gear their properties and put the savings back in to the property as its a way of paying off the property sooner. To be more effective in the negatively gearing process  any sensible investors and/or their advisors must look at how to reap the maximum benefits of this process. To do so any professional accountant will tell you that its best practice to go towards a new property and claim back the depreciation. Please look up this subject before you reply back.

By your signature I can see that you work in financial solutions but by your last comment I sense that you really do not have sufficient knowledge about this subject therefor I suggest that you do some more research before giving anybody advise on this matter. If you are a professional please look this subject up before you reply and/or delete my comment as you so happily suggested to do on my other post about capital gain.

Regards,

Frank Satar

Hi again Jacqui,

Thanks again for your feedback.

I have now gone through the conditions of the forum and I saw your point. Please also understand that I have nothing to sell in Australia at all as I purely operate in Thailand. I am purely trying to help the person with their question which should be quiet evident in my response. But I do see your point and have now deleted my email from the response.

Hi there,

Its great that you are thinking about investing in your future. Its really nothing to be worried about if you follow the simple steps below and not rush in to anything.

1. Contact your bank and/or mortgage broker to find out how much you can borrow based on your employment history, income & deposit (savings)
2. Based on the above result start looking for properties in your price range just so that you become familiar with the types of property options available to you. Remember not to get emotionally attached to anything yet as the propose of this search is just to know your options. If you study properties in your particular price range for a month or 2 then as a result  you will become an expert in your own price range
3. Do not just limit your search to your own area/neighborhood but try to look at properties all over Melbourne for now so that you are also able to compare your options
4. Do the above steps first then reply back to me on this forum with the result and I will be happy to guide you further

Good luck

Regards

Frank Satar

• This reply was modified 10 years, 7 months ago by  fsatar.

Its probably best if you first buy/build your main place of residence (home) before you start thinking about getting a second mortgage for an investment property. If you are thinking about building your home then from the time you purchase your block of land, apply & obtain building permits & build your home you should have a bit of capital gain (amount varies depending on your chosen area). Wait for around 2 years till you have a sufficient capital gain on your home and then use it to purchase your 2nd property (investment property).

Having said all this be very careful that you don’t over commit yourself as the main reason for investment is to better our lives financially for the future. Over commitment could be just the opposite of investing in our future.

Regards

Frank Satar