Jac,

Agents cannot insert clauses in contracts. These are legal documents and can only be drafted by lawyers/Conveyancers. In NSW agents are only allowed to fill in the area in the box on the front page – names addresses, price, inclusions etc

Its not necessary to make a formal offer, but it is a sales technique to lock you in and to present to the vendor that they have 'found a buyer'.

Remember if the other side gets a hold of this contract it would be legally enforceable against you. I wouldn't sign until getting a lawyer to review it either.

If the mortgage is across both titles could it be split up? Just thinking if your bank doesn't come to the party then you could move part of it.

Also if you are living in one property can this loan be separated and split off? Possibly not by the sounds of things, but if it could then this would be a way of paying off the non deductible debt first.

Anyway, generally, I would set up a new LOC on the property and then when borrowing to buy future property you would take the deposits from this LOC and get 80/90% loans for the new property from a different lender. If you want to use the LOC to pay expenses or interest then you need to be very careful and seek tax advice first.

Who is the owner of the holiday units? ie what entity?

If some problem were to arise you may find youself in a tribunal or court and you could have the texts admitted as evidence. I wouldn't rely on them too much though, especially not for contractual matters.

Wife

Wonder what you get for that?

Still, that is only about a 50% return on your capital per year. For the risk involved businesses need to generate you high returns, although these can be lower for major franchise because there can be more certainty of sales.

There would be considerable risk involved, leasing the shop etc – probably licence agreement with a sub company of their's., but personal guarantees required.

Who is the target market? Mainly people of asian extraction. Maybe good in the cities and around the universities but not in other areas. City is also saturated with these types of stores – Sydney is, especially around Chinatown and Town Hall – I have one the other day.

Because it will bcome an investment you should borrow as much as possible and put as little in as possible. There are ways to structure it so you can borrow 105% and then later free up more of your cash for your new ppor.

Yes. credit card companies do make deal. The offer they give you will depend on your ability to pay and your hardship story together with the likelihood of them being able to squeeze money out of you if you go down. I have helped people get 50% off a few times.

6.1% is still a high rate, but much better than 8.54%. You may be able to better that.

Probably best to focus on the $2500 car loan, get that out of the way. How long is the credit card debt 2.9%? Probably is an idea to save up a sum of money into a 100% offset account on the home loan as this is a higher rate.

When you have a small lump sum available ring or write to the credit card company and offer to pay 50% of the debt for a final settlement.