Ben

Unlikely though that any Vendor would sign it if it was less than 5 business days to the Auction and would expect you to waive the Cooling offer period.

blogs how many are you buying in companies such as these.

By the way the low for the day was 1.465.

Sorry cant help you on Qu 1 but as for 2

"Anyone carrying on an enterprise needs to be registered for an ABN" doesnt mean that you have to wait until you have some revenue.

Also remember a sole trader, partnership, Trust or other entity can operate a business you don't have to go to the expense of setting up a Pty Ltd Company straight up.

If you have incurred business expenses in the course of generating an income you will be able to claim the expense.

If you are would consider the Gold Coast feel free to contact my Accountant Steve Hodgkinson who is senior partner at the Gold Business Group in Southport.

Steve has been my Accountant for 12 years and has done wonders for us and our complicated structures.
I have also introduced many clients to and all are more than happy with the service and his level of knowledge.

He can be contacted on (07) 5532 2855.

Tell him i referred you as most good accountants are not taking on new clients.

Ok would be a good idea to refinance quick smart and pretend it never happened.

I can see a few things I would do immediately but transferring the properties to a trust structure is probably not that high on the list due to the stamp duty and potential CGT issues.

By all means look at a Trust structure for future acquisitions.

The equity you have in the current properties should enable you to establish some good access to fund further acquisitions and funded correctly will go along way to boosting your portfolio.

I would try and keep the loans separate and do not cross collateralise the securities.

Let us know if you need further assistance.

Which State is the security located.

You might be able to get a quick short term second mortgage to get started and then can establish the Line of Credit later.

Hi Tim

Yes i am an advocate of interest only loans for a multitude of reasons.

With regards to +cash flow properties your rental income will be added to your other income for the year but remember the interest and other cash and non cash expenses can be deducted from this figure.

Yes certainly makes sense.

The limit amount is the amount considered as your current liability.

It is the same as having a credit card with a limit higher than you actually require – it may effect your borrowing capacity.

Hybrid

Yes that would be fine. As long as you keep the home loan portion and the LOC separate.

Link your offset account to the home loan and use the LOC to fund deposits and acquisition costs.

Just ensure to maximise the interest savings you have all of your salaried income and rents going directly into the offset.
As Terry has mentioned to utilise a LOC for reducing your interest and mixing both investment and personal borrowings in one is Taxation suicide.

You could look at a 106% home loan which maybe enough to cover your costs as well as the original purchase price.

Alternatively if you can access the equity in your IP then you could reduce the borrowing amount.

With the higher LVR lends lenders are wating to see good stability in reagdrs to employment and residence but as long as you can provide all documentation fairly quickly 19 days should be achievable.

I assume you can still access the FHOG?

Drop me a line if you need further help.