I moved last year to my new house which is next door to my old house. Hard move that was, just walked every thing over!

Qlds007 wrote:
Good luck in trying to finance such an arrangement.

Lenders wont like an OB deal for a investment.

Cheers

Yours in Finance

Richard, what would the bank require you to have in order to lend you the money for this situation? Ie own land outright?

Might be easier selling them separately? Is there an advantage selling them as a portfolio?

Being born male means you get penalised come divorce time. I’m making sure I’m coming female in my next life

Just thinking out loud, would the bank allow option one? They wont be happy if they can't make a profit on you.

I agree with Dereks advice. For someone that's not a broker thats good solid advice. Option 1 would be a waste of time. Nothing to claim against your rental income come tax time.

gmh454 wrote:
also you would need to get the loans changed..

and if the ATO looked at it (almost never) then you could have an issue with the old question of intention .. when purchased

safe way is the divorce….

just quietly slip the paperwork in among lots of other docs while she is watching her favourite TV show

and I have seen it done, …[Read more]

Makes sense now, thanks Terry

Terryw wrote:
If the husband owns 50% and the wife owns 50% then she could buy his share and then end up with 100%.

So if a house is worth $500k, she can only spend $250k to buy him out. If she buys the property for $500k wouldn’t she be buying her share again?

Sorry I’m not being very clear !

Thanks for that Terry. So the wife can only purchase 50% of the property? She already owns the other 50%. Does this make sense?

This may sound stupid, but if you sell half your share of the property to your wife does that mean she can only buy 50% of what the property is worth. Eg house is worth $500k, she buys you out at $250k? Or can you inflate the price?

I see many questions posted on SS and this forum. Is that acceptable or should you stick to the one forum? I suppose it's like making friends with a rival.

I agree with Terry, you wouldn't want to do all the hard work and let the creditors enjoy the profits. I wouldn't even bother attempting

Jpcashflow wrote:

Customer service is dying in all industries,
Why?  Most  people just want the cheapest  of everything

People have no class or respect  for them selves 

Best comment of the day. For someone that works for themselves I see this all the time.

vagirl2012 wrote:
Wow, this is really an interesting thread….an unbelievable story…..is customer service still alive?

Sadly customer service is no longer a priority  

My mate is not overly concerned, but i agree with Johanns comments. When hard times sets in he will find it difficult.

I could understand getting banned for being rude or violent, but this is petty.

businessglobal wrote:
MMM – I have been an investor, developer and also own 2 agencies as a principal.

Hard to say what the case is here- I have asked in the past a few people to leave my offices and as an owner you do have the right to pick and choose who is in your premises. The only reason I would ever ask a customer to leave would be the…[Read more]

Derek I agree with you. Funny enough this agency has been in the spot light many years ago for dodgy dealings. The exact words the agent said was “we let you purchase this property at below market value, we should have the right to manage the property. Bit cocky I thought.

I’ve looked into this but for the reasons above the numbers didn’t stack up for me.

Thanks Scott no mates, will do