Forum Replies Created
I believe if the Govt. Cancelled Neg Gearing Benefits, they would send most mum and dad investors to the wall. They would also increase the costs of Private Housing astronomically. This would in turn lead to an increased number of homeless etc.
Could be an interesting experiment though…
Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
[email protected]
Mob: 0404 056 055Rp Data Combined with Property Data Solutions.
I then like to use:
Who
What
Where
When
Why
How
I learnt that as a child and it is invaluable. It has certainly seen me through some of my Darkest Hours and come out head up pointing towards the light. Just remember ANSWER EVERY SINGLE ONE OF THEM!
Oh and – Almost is nothing.
Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
[email protected]
Mob: 0404 056 055Horses for Courses is the best answer I think anyone can give you in relation to this. Now I have to ask – Are the people who are knocking these trusts actually investing or are they working up the courage to think about it?
Personally I am looking at setting up a trust in order to protect my assets. Any potential Taxation benefits which arise are great, but not the ultimate motivation behind the action. Look at it this way – Some Feral Inbred Criminal breaks into one of your Properties. they cut themselves on the window on the way in, trash the joint, bleed heavily and then pass out whilst walking down the front stairs of your two story property. They then sue you because you didn’t have safety glass and they almost bled to death as a result of the cuts. Personally I’d think it’s a shame they didn’t, but the reality is Legally they may have cause for a suit. You could potentially end up losing your assets. Now I know my example is a bit far fetched, but if you can’t give someone a flogging when you catch them inside your home uninvited (and carrying your DVD player) then we know whos going to win the suit don’t we.
Look for the best Asset Protection Structure you can find and accept whatever Taxation Benefits (If any) as a bonus…
Oh and try Gatherum Goss in Melbourne for your accounting…
Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
[email protected]
Mob: 0404 056 055Oops. Thanks for that Richard. I did indeed mean that, and my apologies for any confusion I may have caused in that regard…
Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
[email protected]
Mob: 0404 056 055I saw a Rate chart for one of the trans tasman lenders yesterday out of interest. Their rates were ok and they will let you fund your Deposit anyway you like. They also allow you the simplicity of keeping your Australian Bank Account and NOT having to open one in N.Z.
Good Luck…
Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
[email protected]
Mob: 0404 056 055ABN for 1 day prior to purchasing the Property = BAS statement = $$$Refund.
Thought I’d keep it simple.
Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
[email protected]
Mob: 0404 056 055Personally I wouldn’t look at anything below 7.8% gross yield, although now I’m having to recalculate with the rate rise. As previously stated it all comes back to you and your strategy.
What do you want your investments to do for you?
Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
[email protected]
Mob: 0404 056 055I removed my earlier post as I spoke too soon…
Yes they still exist. All you need to do is look, Speak with agents and educate them as to what you are looking for – They will call you as soon as they find it generally. They do this because they get the same commission for the sale if they list and sell it to you in a day or they sell it to joe blow at the third open house. Saves them time and effort…
Seek and Ye Shall Find…
Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
[email protected]
Mob: 0404 056 055Perhaps you could buy as many as is possible between yourself and your family and friends. Then all you really need to do is compile the infrastructure required for the shops, daycare etc; and build it. Or attract some investment to the area. Then again some areas are simply awful and nothing will fix them except for a rather large explosion or bulldozer on a rampage…
Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
[email protected]
Mob: 0404 056 055I like the testimonials on the website – They all sound the same as the ones from the dodgy bros. back yard investment rip off seminar. i.e: I was destitute spent my last 50c on their program and before you could bob’s your aunty I was a millionaire…
Thanks but no thanks not for me. I’ll stick to losing my money myself instead of paying some clown to teach me how to invest poorly!
And wasn’t “8 Simple Rules” a t.v. show?
Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
[email protected]
Mob: 0404 056 055My first thought was the office/study concept although that is mentioned as was the medie room thought I had as well. What about a sewing room? or a hobby room? Painting room etc; and lastly have you considered the idea of having a “Toy Room”? It could be used by the kids for toys, watching Vids without disturbing the adults etc. Not a Rumpus Room as it would be too small. Otherwise if it only has a dicding wall seperating it from the lounge dining tear it out and chase the full open plan look. It really is hard to suggest anything without seeing the house.
Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
[email protected]
Mob: 0404 056 055Historically Water has always had much larger and stronger Capital Growth than properties without. Check the areas history though. This can be done through someone like RP Data and they can give you a sales history on a per street basis if you desire it…
Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
[email protected]
Mob: 0404 056 055hrb – Depends on where you are in relation to what can be done. Perhaps seeking legal advice would be an option. Generally speaking though if the agent has mis-represented the Property, you MAY (if I could underline that I would) have some recourse against them. Then again you could find yourself having to prove what was said. That may be an issue.
Definitely consult your Preferred Legal Counsel in relation to this though. They would be able to best advise you…
Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
[email protected]
Mob: 0404 056 055LMAO. 13 Days is tight but not unattainable time wise. Then again given the turn around times with the majority of Lenders atm it could be a slight push.
Although I’d go as far as to suggest with the 105% and some of the 100% funders it may happen.
Oh well guess now someone gets the opportunity to find out don’t they. If you need a hand happy to discuss it off the forum.
Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
[email protected]
Mob: 0404 056 055Terry, I unfortunately don’t know enough about Trusts and the way they are operated or structured to know if there is any recourse they can take. I posted it more as a warning then to see if anyone knew, but it would also be good if anyone had any ideas on what if any action they could potentially take to retrieve their asset?
Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
[email protected]
Mob: 0404 056 055Originally posted by Terryw:A way around this may be to leave as is, and to gear these properties up by having a trust take a mortgage over them. So if attacked, there will be no equity left for anyone to grab.
Loving your work and your thinking Terry. That’s a gem. Now I’m wondering how many people would think of that prior to just copping the hit?
A lovely shot atraight around the end game into the goal.
He Shoots, He Scores…
Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
[email protected]
Mob: 0404 056 055you can guarantee his property using your own property ,but, not someone elses as Terry stated.
There are other ways to structure the loan though so not even a full half is used for the I.P. Purchase which may assist him with obtaining the finance without using the full 50%. This may assist him with selling the concept to his in-laws as the risk is lowered significantly in their eyes should they have concerns along those lines…
Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
[email protected]
Mob: 0404 056 055Yes I know of 70 – 80% LVR No or Low Docs. No Asset and Liability statement to complete. Simple. Only an acknowledgement of payments and you can afford them.
Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
[email protected]
Mob: 0404 056 055Jules depending on which state you are in. It varies accordingly. In Qld YOU the landlord pay for normal water supply. EXCESS WATER is billed to the tenants. Sewerage is paid for by you. Tenants are responsible for Phone Electricity etc. Depends on your lease though. You can opt to pay for Phone and Electricity, but trust me you don’t want to. (And if you do can I rent off you pretty please…)
Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
[email protected]
Mob: 0404 056 055
