Forum Replies Created
thats why there is a futures market on interest rates and more analysts than you can poke a stick at forecasting rates going forward.
financiers purchase their finance on this basis and you will pay for the priviledge. the financier hedges their books into the future as well. aust financiers do not offer long term fixed rate to cover their butts. financier competition has pushed the US market to accept more risk by offering longer terms.
jm
that’s ok comdom I was aware of what i was doing, my quota is complete – $100k for 2 properties, totaling $240 p/wk. i will move on now but felt others should know, this local market won’t last long. J
Nav, rent demand is extreme. rent for entry level is $120-150. the seasonal workers don’t rent houses, they are mostly singles, backpackers, etc.. J
Have used Queensland House & Building Reports – Gary Struber 0408 008 734
Organised, detailed, reliable and extensive reporting on fax same day and hard copy report followed.
Highly recommended.
John.
I have just spent 2 weeks (should have been on holiday but got distracted!) in Cairns. Placed three offers and won one. After VERY intensive searching, the one I purchased is one of the few remaining +ve geared properties in Cairns – unless you want to have your tenant live amongst the sand flies in White Rock!
John.
MENSCH:
Just wanted to clarify, changing trustee does NOT trigger a CGT event. It may cause issues with mortgages and the terms may limit a change to trustee, especially if you are moving from an individual to a corporation. The latter should also be fine with the financier if it is a $2 shelf company and you are the sole director.ALL:
In summary, if you are a serious prop investor (planning to purchase multiple properties), you should use trusts (and place just a few properties or $value in a trust). You should have a non-trading shelf company set up as the trustee with you as the sole director and shareholder. The corporate trustee adds another layer of protection.John
