Hi Andy

Just a quick reply. You can’t negatively gear while you’re away, if you don’t earn any income in Australia. However you can accrue these loses while you’re away and use them against Australian earned income when you get back.

Of course, you should check this with a good accountant but that’s how it worked for us while we were overseas.

Cheers, Paul

Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540

Talk to us about Wrap Training Joint Ventures.

Hi Dave

We are vendor financiers and in a lot of cases we’d suggest you on sell it using vendor finance. After looking at your situation I’d agree with most of the above postings, i.e. rent it and definitely get a depreciation schedule.

Good luck with the move.

Cheers, Paul

Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540

Talk to us about Wrap Training Joint Ventures.

Hi All

If a loan to the trust is seen as a personal asset, why not just gift the money to the trust?

Cheers, Paul

Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540

Talk to us about Wrap Training Joint Ventures.

Hi Looti

First of all, could you tell us where your house is located (town/state)?

If the area suits us we could look at giving you the current market price, if you would be prepared to lend us 20% of the agreed purchase price.

By lending us 20% of the purchase price, I mean our solicitors draw up a second mortgage contract between us, in which you agree to loan us 20% of the purchase price over 5 years.

Just another idea. Good luck.

Cheers, Paul

Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540

Talk to us about Wrap Training Joint Ventures.

Hi

It sounds to me like you need a lease/option for 2 years which you exercise and rollover into an Instalment Sales Contract. So the paperwork is relatively simple, i.e. a standard residential lease for 2 years, a two year option on the property and the contract you attached to this lease/option will be an Instalment Sales Contract.

If you are in NSW give Tony Cordato a call. I’m sure the members here will be able to recommend an equally good vendor finance specialist solicitor if you are in another state.

Good luck.

Cheers, Paul

Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540

Talk to us about Wrap Training Joint Ventures.

Hi Misty

If you use “and/or nominee” on the Contract of Sale, in NSW, double stamp duty will be payable.

However, if you option the property and then assign the option (at a higher price) to somebody else, our experience is that double stamp duty isn’t payable.

Please check with your lawyer about this.

Cheers, Paul

Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540

Talk to us about Wrap Training Joint Ventures.

Hi Andrea

If this property could be turned around so that it:
1. Produced positive cashflow for the owner
2. Could be sold for $290,000
do you think he would be interested?

Cheers, Paul

Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540

Talk to us about Wrap Training Joint Ventures.

Hi YC

As the market has “motivated sellers”, it also has “motivated buyers”. And yes these “motivated buyers” tend to look past the major road location, if it’s going to get them what they want, i.e. their own home.

As the opportunity of this property is now out in the open, lets see if any wrappers contact you. If they do and you sell the opportunity of this property to them, you’ve just started your bird dogging career

Gook luck.

Cheers, Paul

Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540

Talk to us about Wrap Training Joint Ventures.

Hi Mat

I’d definitely agree with Daniel. If you are going to talk with an accountant about this, make sure the accountant has a few of his/her own investment properies.

I’d also recommend that you have a read of: https://www.propertyinvesting.com/strategies/buyandhold.html

And for $25, I’d suggest you pick up a small, easy to read book called How To Legally Reduce Your Tax.

Good luck.

Cheers, Paul

Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540

Talk to us about Wrap Training Joint Ventures.

Hi Chris

A hypothetical. You’ve built up a great protfolio and you’re, rightfully, happy with the asset base you’ve been able to build for your family.

You’re driving along one day, get dazzled, run off the road and into a shop. Nobody is hurt but the ensuing fire destroys millions of dollars worth of property

You had been conscious of not drink driving but your blood alchohol level is just over, i.e. 0.7.

The law charges you with some offences but probably because no one was injured you don’t go to gaol.

The property owners then sue you in a civil action for millions. They win. Because all your assets are in your name, you lose the family home, the property portfolio, the lot.

If these assets were owned by a trust or company (that you control) it’s quite likely that your assets would be safe.

You can’t by an insurance policy to save you from all the crazy law suits that are out there today. However there is a very effective “insurance policy” and that’s is the right structuring of your assets.

Personally I think it’s pretty cheap insurance to set up, e.g. a trust with a corpoate trustee. It cost us about $2,500, was easy and quick and is easy to run. And just as you have to pay for renewing your insurance policy each year, we pay about $1,000 a year to our accountant to keep the structure in good shape.

And last but not least. Go find some really wealthy individuals and and see if you can find any of them that own their assets in their own names.

Cheers, Paul

Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540

Talk to us about Wrap Training Joint Ventures.