That is true.

Such cute kittens cannot be, er, misleading….[biggrin]

Cheers
Mel

Celivia, you’re a scammer!! I though the Northern Territory bit was a little odd, but I believed you anyway as I didn’t know!!![blush2]

Cheers
Mel

Rob, a guy I got to know through some seminars I attended always purchased property in the Unit trust – which then guaranteed/provided the security for his wife (higher income earner – tax advantages) to borrow the $$ to buy units in the trust.

I know that Citibank was one of his lenders, but I don’t recall any others….. He bought at least 20…[Read more]

Geo – all you had to do was ask[biggrin]. It’s a nightmare when there is no paper, it’s all true!

Cheers
Mel

Neil, don’t know if the old guy (is he an old guy, or a different sort of pension?) would be interested, but in another thread on this forum on health care, the basic story was that ‘money talks’ when it comes to doctors and surgery etc.

Don’t know offhand how much pensions are, but assuming it’s $2K a month – if you pay him a lump sum, plus…[Read more]

I so wish that a. we had questions like that when I was at Uni, and b. that I was that quick witted, and c. that the lecturers would go for it.

But then again, I was never good at philosphy type courses…

Cheers
Mel

Hi Richard, thanks for that info.[biggrin] As I said, just being nosey. I guess it really goes to show that their is still a huge demand in the marketplace for Wrapping.[specool]

As Lozza said though, my interest is also in how many of your clients who have purchased a house have actually not completed on the deal, and have had to walk away (for…[Read more]

Hey SIS

I think your accountant swearing at you is totally unprofessional.[biggrin] If you, on the other hand, swear at your accountant, she should give you a right good backhander[evil4], and tell you not to talk to your elders like that

Cheers
Mel

Not sure quite how relevant, but as I don’t know Sydney, and recognised Glenhaven, I thought I would share.

Glenhaven is about to (or may have started already) have a huuuge retirement village type development happening there. We had the chance to provide Mezz funding to the developer, but some of my syndicate were a bit slow in making a…[Read more]

Originally posted by The Mortgage Adviser:
Just to make sure of something, did $20,000 under valuation mean that you borrowed less than 80% of the property valuation price? You may have paid mortgage insurance on 85% or 87%. Tell me how much you paid, how long ago you paid it and how much the purchase price was and I can tell you.

Purchase Price…[Read more]

How much is enough for me?

Well, I have no concept of earning more than $50K per year, so at the moment that will be ‘enough’. However, I know that I want more than my existing lifestyle, and so i reckon I need at least 4 times that to be able to travel, own my own home(s), and provide for my family members.

Will it make me happy? Good…[Read more]

Wayne, the company would be the last resort, after you had exhausted all other beneficiaries.

If you have others, you could make an arrangement whereby it’s only a book entry that they are distributed the money, and they ‘lend’ it back to the trust to reinvest.

Depending on how much money there is, I would definitely be looking at using some of…[Read more]

spi, I guess what you are seeking is definitely a wrap purcase. However, before you go there, I would suggest contacting a mortgage broker to see if you have any other options.

If you still want to look for a wrap, check out the Vendor Finance Assoc website on http://www.financewraps.asn.au

Cheers
Mel

Some of these schemes are very possible – however I would ensure that any that I invested in had obtained a Tax Office ruling, or you will find that all tax deductions are disallowed, and you get to pay a nice little (not) fine as well!!

Cheers
Mel

Hi B

Do you have no siblings, no living parents?

I too am single, but have included (as is fairly standard) in my trust my parents, siblings and their spouses and children – any future spouse(s) (one at a time of course[biggrin]) of them or me, and any future children.

Companies I am director (and/or shareholder?) and even trusts are also…[Read more]

banner, I’m guessing that you have sold your one and only IP?

Were you looking at buying any more in the near future? I suppose a month isn’t much, but perhaps you could buy a new one now and prepay the interest on that?

Or you could always buy a couple in the ACT, sign contracts now, and pay stamp duty before 30 June, claiming the stamp duty…[Read more]

Hi Nell

If you decide to only purchase one of those properties – can you give me the details of the other[specool]?

Seriously, they sound like they will be good earners, and while you owe on your PPOR, and Interest Only loan would be good for your IPs. You will be reducing your overall debt, as you would probably be paying all ‘extra’ money…[Read more]

Originally posted by Lucifer_au:
“Under these changes, the trustee in bankruptcy will be able to recover assets held in the
name of the bankrupt’s spouse, or that of another party, where the bankrupt has paid for and
uses the asset,” Mr Ruddock said.

Easy, don’t use the asset. Also, if the trust purchases the asset, the bankrupt didn’t, and…[Read more]

And I bet the fact that Henry Kaye is the one who started up Wealth Creator never gets a mention anymore…

Cheers
Mel

breakfree

As trustee, or director of the trustee company, the only guarantee that you provide is to the bank for the loan. You will only be held liable for this guarantee if the payments fail to be made – not because someone other than the bank is suing you as the trustee.

If you sack the trustee, and appoint another, I guess you need to talk…[Read more]