Wobs
http://www.austlii.edu.au/au/legis/cth/consol_act/antsasta1999402/s40.75.html

5 years according to the GST act

Why not borrow to pay investment expenses?

Yes, 5 years I believe.

I don't know the first thing about US property, you would need a lawyer over in the US if purchasing there.

You could try Morrows Legal in Melbourne. http://www.morrows.com.au

Your missing something Sundance.

If you default the lender can automatically take any security property.

If you had them separate it would be much harder and longer for them to get their hands on non security property. You would give you more time to get back on track or to sell etc.

If they are crossed and you try to sell one this will mean the bank will need to give permission for you to sell. They will need to revalue the remaining ones. If they have dropped in value or your LVR is unacceptable because of a change in policy then the bank can direct that you pay down the loan with the proceeds. This may not be a good point for deductibility reasons and for other reasons – such as needing the money.

I had a friend who had 2 properties crossed. He had a heart attack and was trying to sell them but the bank stuffed him up and he went bankrupt as a result.

Don't do it.

So a tenant wants compensation because they damaged their own car on a drve way that you don't own?

Why are you trying to contact the previous agent?

Just tell the tenants you are not responsible and won't be providing compensation

Another tip is to read the whole contract word for word. You would be amazed at how many people who enter an agreement without knowing what they have agreed to.

Start at the special conditions and take special note of these and then read all the standard conditions clause by clause. If you want something changed then tell your solicitor and they can ask the otherside for it to be changed. It may not always be agreed upon, but doesn't hurt to ask.

Don't tell me you are going to buy a property without legal advice?? Spending $1000 now could save you hundreds of thousands later.

Thats ok as long as he doesn't catch the disease 'analysis paralysis'.

I have been studying trusts for about 13 years now and am still learning.

It may make more sense from a land tax point of view but this is only one thing to consider. Sometimes it may be worth paying more in land tax (which is deductible too) to get some other benefit such as:
– asset protection
– income tax flexibility
– trust assets not forming part of your will and safer from being challenged
– flexibility
etc