“Forget about the cheapest rate; the cheapest rate isn’t necessarily the best product”

I am always curious why people spend so much time trying to get a point off here or there when there are bigger issues to look at.

For example I would rather pay a much higher rate and get a higher LVR or a personal banker than always just trying to get the…[Read more]

Accordingly Ed Chan’s Property Trust will now not be able to claim the discount eitheir.

hellman

http://propertyinvesting.blogspot.com/2006/03/all-about-lenders-mortgage-insurance.html

hellman

Approx. $120,000 (based on living on $250 p/w).

Check out the ‘How much can I borrow?’ claculator:
http://www.anz.com.au/aus/calculators/default.asp?from=anzhp

Hellman

Just use standard Taps (and other plumbing items) not the european taps (which are non standard, and do not fit our appliances!!!!).

hellman

Although most people who negative gear actually lose money, they make it up through capital gains (sell or revalue (you can live off equity, though there is much debate about this strategy)). Or if you pay P&I (Principal & Interest) over time as rents go up, but your mortgage repayments stays the same the rent will overtake the repayments…[Read more]

Also a lot of the time the ATO likes to bang the drum of publicity for a few different reasons –
~ It scares people who are cautious and so they won’t use trusts (and so will probably pay more money in tax);
~ It shows the taxpayer / middle class (largest block of voters) they are doing something – ‘clamping down on the rich’;
~ It warns people…[Read more]

As long as you meet the banks criteria then it is possible. Of course it does depend on the amount you wish to borrow (usually personal loans are capped to a maximum amount).

Do we place current PPOR into trust? (currently in both names)”
imagine taking something from a tax free environment into a taxable environment…….you obviously don’t know the repercussions…i had a laugh there

> Why laugh? Right now they are totally exposed to a lawsuit (the risk is usually low anyway, but depends on profession, etc). What…[Read more]

There is really no real ‘note’ market here in Australia.

But really all a note is, is a binding contract. I guess the main difference is the fact is that in the US it is seen as an instrument more (and so can be bought and sold).

hellman

“Brokers can be great, however, if you do your own submission in a professional manner and send it to different banks you may be able to complete the deal yourself. The last broker we used cost us $5000.00 and the bank manager told us we should have just come to him in the first place. $5000 could be a house deposit!”

While that may be true, the…[Read more]

We don’t really have mortgage sales here like they have in the US. Usually it goes to public auction by a local RE agent (usually they will put “Mortgagee Sale”in the property description).

As such it is very difficult to almost impossible to buy house that has been forclosed upon privatly.

“Back in ’97 when we were completely unaware we sold our 2nd IP to a “and/or nominee” and got royally done over by the wily next door neighbours. Cost us 16K.”

Dazz – how???

I would always use a broker when obtaining finance.

At the end of the day the mortgage broker gets paid by getting you your loan while the bank manager simply gets a bonus. In my mind mortgage brokers fight harder to get the loan than staff do.

As such I would use a mortgage broker (whom has many more lenders on their panel, where as a bank has…[Read more]

You could demand the bank does a revaluation, you will have to prove this though (so you will need to get the average selling prices of houses in your neighbourhood and compare your hoiuse to recent sales – e.g. X house sold for $X and it did not have air conditioning, etc).

Or you could get your own valuation done (see if it’s on the banks panel…[Read more]

Property is not the only way to create a passive income, you can have a biz/stocks/bonds/RE notes/etc that can all provide passive income. I like property because it’s stable and safe. For example say you got a manager to run your biz, you now might get passive income, but there are higher risks (for example competition, your product being made…[Read more]

Okay there are a few factors heres at play.

The first factor is what is written on the deed of the trust. If he is the appointer then he can hire or fire the trustee (this can be over ruled though). The trustee runs the trust on behalf of the beneficaries. So could this person fire you – if he was the appointer of the trust, yes.

But if you were…[Read more]

If they are good enough for Donald Trump there good enough for me. As such I would have a pre nup, but then I see wealth over a multi generations and as such I’m going to do the best to ensure that. While some people might say I’m setting up for failure, I see it as setting up my future generations for greatness (as well as any charities that I…[Read more]

“This particular property is a block of 4 strata units”

Banks tend to see these as more commercial in nature and as such the LVR drops say from 90% to say 70%.

Hellman

Manly I’m sure (with more pubs and a rise with assults).

Im sure alot of tourist towns go through something similar.

In terms of prices of property I don’t think there will be much change. People still want lifestyle. There might be higher vacancies perhaps… (But probably not).

Hellman