Mortgage Broker every time.

 A Mortgage Manager is legally obliged to look after the interests of the bank.  A Broker is legally obliged to look after your interests.

PS there are some amazingly experienced brokers on this forum, you would be hard pressed to find a better source than right here.

Quite easy.  Should be drawn up properly so each party is aware of obligations as well as being protected. Can also be secured if necessary.

regards

D

Hi Harry

I agree with Richard

 We recently priced up something similar for a client. Don't forget that you are creating an additional lot so will also trigger infrastructure contributions.  2 Bed in QLD would be up to $21K, legals to get consent of all the owners will not be cheap, best part of $10K and that is if you can get consent.  You may…[Read more]

Most clients I deal with use a project management  entity that has no assets to do the development.  If you are getting builders to do it all then much less likely you would do that then if you were actually managing subbies etc.

You should get specific advice.

I agree with Terry.  I think that your Trust may actually be invalid at common law.  

Setup a Trust in Australia through a lawyer and it will be properly done.

You could also get a Binding Financial Agreement done with your partner to restrict her assets to the trust. She would have to agree, it would have to be done correctly and she would need…[Read more]

John Pappas in Brisbane looks after some clients of mine who are builders and also investors, he is all over it.

(07) 3299 5594

D

IMHO you would be better off finding advisors who deal with options.

Brokers and solicitors on here have used options themselves, I am sure there are accountants and other professionals who have also.

regards

D

Hi Graeme

AD Civil 0407037001

They do a lot of demo work for my clients and always seem to come in at a good price.  Never heard any complaints

I used to  own a block of units there.  Interesting tenants to say the least.

Have a look at pdonline.logan.qld.gov.au  and search the site you are looking at.  That will let you know about flooding and waterway corridors.

D

You would effectively have to sell your properties to a DT.  CGT on the sale, stamp duty on the purchase.

We setup up DT's every day of the week.  However they are easy to stuff up so you need to get it right.  

Ongoing costs are $200ish per year in ASIC fees for the corp trustee otherwise it is only accounting fees.

Overall structure is…[Read more]

Hi MM

Stamp duty will also be payable on the value, not the price you actually paid.  

Either way can be structured by a good property lawyer.

D

Good advice as always Richard.  

Some Marketeers try and come across like they are there for you.  Check the disclosure contract on the statement and you will see $30k or so going to them for selling the property.  They are NOT there to help you.

I am litigating on behalf of numerous clients at the moment who have been done by some of these…[Read more]

Ipswich has a history of going up and down a lot more with the cycle.  I can remember $30k houses there when i was paying $170k in Brisbane, then they were $300k there and $400k in Brisbane.  A mate of mine bought one out there for $70k, sold it 5 years later for $60k and then it sold for $300k a year or so later.

If you can hold it and you think…[Read more]

Lee & Lee have a chermside office and also a Sunnybank office.  Tony Lee has done a lot of property stuff himself over the years and also works with a lot of developers and investors.

Second Lee & Lee

Ok. I do not see any houses around Brisbane for $300k.  Ipswich or Logan yes there are plenty.  

Hi Matt

Is that for a unit?

No Rule against perpetuities in SA so lucky you, or lucky grand children anyway.

Afraid so.  Must be used by a household group.  Table 5.2.16 of the planning scheme from memory.

Use of  discretionary trusts offer numerous benefits including:
1. flexibility of distribution of income
2. efficient tax planning
3. succession planning
4. Asset protection

Downsides include
1. lack of negative gearing if required
2. no land tax threshold in NSW.

There are more on both sides.

It is important that you surround yourself with…[Read more]