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RoyceRolls

  • 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.

RoyceRolls

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