Hi P

Does he have to be Brissie based.

My Accountant is a specialised in Property Development and Trust Structures and has acted for me over 12 years.

Unfortunately he is based in Southport on the Gold Coast but it is well worth the quartely visit.

Let me know if you would like his details.

Many other forum members now use him and are very impressed with the level of expertise.

All sales by the mortgagee in possession are normally sold at Auction as the lender has an obligation to achieve the highest price possible.

Certain agent in each area will have close ties with some fo the Banks so it is a matter of forging these relationships.

Obviously it is in the Banks best interest to keep the fact that they are selling under their power as Mortgagee in Possession quiet so as to avoid the vultures who gather for such an event.

Hi Jo

Any investment related mortgage broker can assist you with that enquiry.

What structures are you using to purchase the properties in?

No non at all as long as all of the expenses are investment related.

If you do have a non deductible home loan however you would be better off using a 100% offset account linked to this loan rather than a LOC.

Yes wonderful return but what happens after the 2 Years.

Not sure which part of town it is in but realistically the rent is being factored into the purchase price.

Get an independant rental assessment of the property and relate this back to the initial purchase price.
Also get an independant valuation of the property as a owner occupied property and see how much over the odds you are paying for place.

Hi Boshie

I think i understand at what you are wanting to do but it is not as simple as that.

In saying this there are a couple of alternatives which would be just as effective and achieve what you are wanting to do however i would need further information including actual figures to provide you with a couple of options.

Let me know if i can assist.

Hi Kawan

I think they are probably less than the standard rate.

In saying that if you want cheap advice I am sure you could get it for less however in saying that if they saved you 3 times their annual fee initially you would probably say they were wonderful.

Like anything in this world up to a certain extent you get what you pay for.

If this was not the case we would all troop down to the H & R Block lady and ask her for her advice on Investment Trust structures.

Hi Aj

Yes buying at Auction is like signing an unconditional contract so you need to ensure that all of your conditions are satisfied prior to the Auction day.

You will need to have carried out your Building & Pest inspection and ensure that your mortgage broker has undertaken the valuation and finance has been approved subject to you providing the lender with a duly executed purchase contract.

If you are wishing to use a Deposit Bond ensure that the Auction conditions allow for this otherwise you maybe required to offer a cheque / cash deposit on the day of signing.

Also if you arrranging finance give yourself enough time to have mortgage documents issued and signed and returned.

Jonty

It is hard to advise you what is involved without a bit more information .

In essence you would take out a new loan against the equity on both properties and use this to ocver the deposit and acquisition costs for your new IP loan.

As to how to structure it as mentioned without all the information it is hard to make comment.

Drop me an email if you need any specific information.

I am with V8Ghia do you really want to sell?

Is the property in a poor location not providing you with a rental return or capital growth.

Why not use the equity to reinvest and move forward.

Yes making contributions to Superanuation are Taxed at only 15% but remember whilst you are able to gear in your SMSF these days you are limited in many ways. CGT is reduced to 10% where the asset has been held for over 365 days and only in Pension phase is there no tax payable on your pension.

The options market is a quick fire way of loosing money unless you have experience. I spent the early part of my life as Currency and SWAP trader in London so can tell you alot about the market and the players out there.