RoyceRolls replied to the topic What should I do with my $250,000 in the forum Help Needed! 11 years, 8 months ago
Thanks ClaireR,
I asked my broker multiple times to confirm it was only 6 months I had to live in the house to get FHBG and he assured me it was.
Thats good to know
RoyceRolls replied to the topic What should I do with my $250,000 in the forum Help Needed! 11 years, 8 months ago
Do you mean allow the trust to borrow against the initial property to begin investing?
RoyceRolls replied to the topic What should I do with my $250,000 in the forum Help Needed! 11 years, 8 months ago
You are suggesting I buy in my name but loan my deposit from a trust I create? Then allow the trust to buy the property off me after my 6 months is up?
Sorry Terryw, I am new to all of this and am sure ill come across as stupid. I just want to get my strategy right from the start rather then make mistakes early that will cost me later.
RoyceRolls replied to the topic What should I do with my $250,000 in the forum Help Needed! 11 years, 8 months ago
I agree that $50 for the week I am home is not much at all, I have tried to pay more but he dosnt want a bar of it. He is just happy I am home after 5 years in the Army.
Thanks TerryW. I have been reading up on trusts and definitely think that's the way to go. I have a few questions hopefully you can help me with.
1, Is the property investor…[Read more]
RoyceRolls replied to the topic What should I do with my $250,000 in the forum Help Needed! 11 years, 8 months ago
I am single, no kids and work away 2 out of 3 weeks. I dont think buying a property to live in makes financial sense.
In saying that, I am entitled to first home buyers grant and no stamp duty etc. So maybe it makes sense to buy one and live in it for 6 months.