Or there is the ‘ILLEGAL’ alternative….

Charge them full rent and then kick-back the ‘CASH’ difference each week.

I personally would not charge family anything if I could afford it.

TMA
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C2, I can answer number 3 quickly for you…

Ask your lender if they will separate securities. If they will you will not need to refinance. If they won’t, you can refinance within the same lender or find another lender. You need to split your loans so the LVR on each property is at acceptable levels to be able to stand alone. It is not a…[Read more]

More information about the First Home Owner grant is available at http://www.fhog.info.

REBA is only applicable in WA.

Being self-employed will cause you some difficulty getting finance unless you have 20% or more deposit. You will need 2 years full financials showing sufficient income to service the level of debt you will be applying for.

You cannot…[Read more]

Benny,

The properties in 11 are in addition to the unencumbered property in 8 and the negative geared property in 4. That is how I read it. The 50k figure used throws me.

TMA
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The theory sounds ok but I would be looking closely at the managers of the investment. If they are hopeless managers, it does not matter if you put in $1 or $100,000. You can still lose the lot.

TMA
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Originally posted by bf:
1. I have read the posts here and realise that I should have bought the house on a IO loan with an offset account. Is it possible to change it in 2006 without too much penalty?

The ING product is not the best option to change to Interest Only. You might find it better changing to another product. You should not face much…[Read more]

SPAM!!!!!

That site is for England & Wales.

TMA
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Hi Pete,

I don’t know that much about it to really know which area I want to be in. Like anything new, I like to start at the bottom and look at all areas. I was thinking retail domestic and international travel to start with. Hopefully I will learn different areas from there.

TMA
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Another ‘authorised representative’ of Meridian Financial Pty Ltd. Do these guys just rent out their financial services license to anyone?

TMA
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I am not a solicitor but I am amazed that your concerns were financial when visiting your dying father. If the will is challenged and you win (very likely), his current wife will get most of it anyway as I am assuming all children are now mature age.

In my opinion, the current home will not be taken away from the current wife so I would forget…[Read more]

I am still wondering as to why you do not use an offset account to reduce your interest expense and improve cashflow while not losing any potential deductibility as and when you need it. Each to their own I guess.

TMA
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Do you live in a PPOR with money owing?

If so, what is the interest rate on these funds?

TMA
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Why do you not make a formal complaint in writing. The only reason he is so bad is because everyone else is too weak (not just your boss) to stop him!

TMA
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I don’t think of it that deeply. The rule merely states that if you can only have one PPOR. If you are currently renting after moving out of a PPOR, you can still call that property a PPOR for 6 years. If you move into a new home that you own, that is your new PPOR and the 6 years will apply to it if you move out to rent again.

TMA
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People often do not realise that the promise to pay the contract price is not consideration. That is ‘acceptance’ of the ‘offer’. Consideration must have nominal value.

TMA
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Yeah, it is a 6 year CGT exemption if you don’t move into another property you own. You have to live in it for 6 months though to not lose the FHOG entitlements.

http://www.fhog.info

TMA
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What is the company charge of $3,500 that keeps popping up every year on these properties you are talking about?

TMA
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Being to soft or too generous just does not work in this day and age. Too many people are way too quick to take advantage and will not return the favour when it is needed. I also learnt this the hard way!

TMA
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I think anything you think up will require some form of personal exertion on your part requiring more of your time. It is a hard question to answer and one I would love to hear the answer to if found.

TMA
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Working with larger established and reputable companies provides you with great training and usually a lot of leads. This gets you going pretty quickly if you are pretty decent as a broker.

TMA
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