It is not the brokers. It is the lenders.

TMA
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hahahahahahaha…. I lost that title in 1998 after leaving the Gold Coast. It has been down hill ever since!

TMA
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Richard, you can never be sued successfully by anyone for telling the truth or simply stating facts.

TMA
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I noticed you had a neutrally geared property. I must assume that you have some equity in this property for it to be neutral. Even though you would lose an income that matches a liability, you should receive a good chunk from the equity to pay down other debt. The net result would be a lower ongoing liability.

TMA
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Investor…[Read more]

Yes. It is an expense of buying property.

TMA
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Jerzy, I read your post just fine and my response was adequate. It seems you missed my comment about my post not being directed at you. I am over it.

If you think my above post was emotive in any way, you do not know me very well. I like to think of many of my posts as blunt and to the point. It is also interesting you consider my comments as…[Read more]

Originally posted by Terryw:
CGT would be payable on what you paid for the property, including any rebates. Stacking the contract would not be required, but may be helpful in getting a higher valuation.

How is this helpful? Are you going to tell the new lender that you ‘stacked’ the contract in an attempt to get a higher valuation? It is…[Read more]

There is nothing wrong with multiple applications if they are for different purposes. I used to do this all the time. Full disclosure on the application avoids any questions when the lender does their checks.

You have to remember that there is really only one company holding credit information about everyone and only two companies holding most…[Read more]

Originally posted by benm:
Sounds like no-one can decide whether or not capitalising is deductible.

I am very clear on capitalising interest to reduce non-deductible debt. It is NOT deductible in my opinion.

It is a totally different ball game when only investment properties are involved. I still do not see the point of planning to go…[Read more]

There is also nothing ‘SECRET’ about the AusTrac database. It has been common knowledge for many years. The funniest thing about it is that, as Terry pointed out, people seem to think it only applies to transactions of 10k or more. It actually applies to any suspicious transaction. It can be for any amount.

TMA
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If you paid it into the loan instead of an offset account or had no formal contract with your spouse, I would say you just lost a lot of deductibility.

TMA
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So Hellman, please tell me the point of the whole exercise if not an attempt to defraud???

TMA
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Properties sometimes go down in value or remain stagnant. Other reasons include inability to borrow due to serviceability, LVR restrictions or property type / location (ie: lending policies).

It is also sometimes good to sell a poor performing asset to purchase better performing ones. Things change when considering investments and investors…[Read more]

Originally posted by Terryw:
Nine

One possiblitiy is to lend your money to your trust and then to buy a property for cash. Buy only bargins and Stack the contract up higher with a rebate on settlement.

Then after settlement apply for a loan to release your funds. If you have purchased well, the valuation should come up higher and you may be able…[Read more]

I thought the second step involved obtaining finance from a lender based on the recent ‘stacked’ contract???

TMA
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Anyone who advocates a hard and fast rule regarding investing should be considered lacking in knowledge. The ‘never sell’ advocates are so 10-20 years ago where views were very different.

I don’t know about anyone else, but when I buy assets, I like to profit from them as much as I can. If that means selling a current holding and taking a smaller…[Read more]

Jerzy, my comments were not directed at you. I was merely outlining a scenario that brokers get upset with. Don’t take it personally.

TMA
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Unfortunately, it looks like the OSR website is down at the moment. I do not want to answer on stamp duty concessions until I check it out more. I guess your decision will come down to how much you expect to lose with a property decreasing in value compared to selling pre-settlement and buying something else.

TMA
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Investor…[Read more]

TMA = Robert (Not Terry) ))

TMA
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Inner city units are the road to disaster. They have been pretty useless since 1999-2000. I would not waste my time even looking at any size unit any more even though there is the rare deal here and there.

TMA
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