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Thanks for all the advice
Thanks Guys nice suggestions. Good luck with your businesses
To avoid ASIC’s wrath it looks like it needs to be in the form of a loan, joint purchase of the property or the purchase of shares in a company.
It appears, amongst other things, you cant offer an investment, any finance vehicle that does not have a guaranteed return or pooling of funds.
It needs to be a method which does not incur the wrath of ASIC. Any ideas?
For a new house and land pkg you pay stamp duty two times plus GST.
Once when the developers sells the land to the home builder and when you buy it. Thats one extra stamp duty plus GST of 10%.
If you buy the land and put the house on it yourself thats one lot of stamp duty less.
Terry Wrote:
“If you have run out of capital, then you will have to save more, start working or just wait for someone to cash you out – but by then you will have noticed prices have increased, and you will need even more deposit for the next one.”
Thanks for your opinion, I DO appreciate it Terry, more specifically I have run out of credit not capital, as the credit I have at present is limited by the assets I can leverage. There is plenty of capital out there which will lend against your credit rating, like credit cards and personal loans but it is getting the capital as cost effectively as possible while managing risk.
I stopped working for someone 14 years ago, so its not really an option for me. I stopped saving about the same time as the government liked taxing me too much, Im cashing out the properties as we go by managing the delta between interest only and P&I.
So I need some really clever ideas to solve my problem. There has to be a way around it.
As an update…….. I dont want to wait until the wrap properties appreciate to refinance that way, though I can. Any thoughts how to restart the system let me know……
