Hi Mike

Yes I was a bit vague there. Of course, a company could just sell the property to another person or entity.[blush2]

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Derek

I think you are mixing up superannuation trusts and discretionary trusts. Discretionary trusts can purchase property held by a beneficiary. A few of my clients have actually sold their property to their trust.

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Hi Carlin

What you would need to do is to decide on the new lender, apply and wait for the valuations to come in. If there is enough equity in there (and you service) than you can, maybe, have a loan for the existing property and a split for the extra equity.

Once the deal is approved, the new lender will payout the old lender and titles will be brought across.

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Did your husband marry you?[blink]

Watch out for those cheap properties returning a high yield. Just because the yield is good doesn’t mean they are a good investment.

Just keep reading as much as you can, especially posts on forums like this.

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Hi Darren

Yes you will have to cover the interest on both investment loans and the home loan. You could possibly do this from rental income (if the yield is high enough) or more likely, from other income (ie negative gear).

If you had the cash, you would have less interest. But from a taxation point of view, if you had the cash, you would be better off paying it into your home loan – non deductible debt.

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Even if you will not have a loss, a hybrid trust may still be worth considering due to other benefits including hte refinancing principle.

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I would sign and take the money. It is jsut a signature. Nothing could be legally added above, nor could the signature be used otherwise. Nothing to fear.

I think I went to a seminar years ago where the presenter offered a $50 note to someone. The person refused thinking there must be a catch. No one would give away $50. Then someone in the audience jumped up and said ‘give it to me’ and he got it without any strings (he was probably a plant). I guess the whole point was that not all things are too good to be true.

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There are some lenders out there that will lend based on end value. around 60-65% LVR at around 12%. No financials usually needed.

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Mkc

Probably the major issue would be deposits. Many would not be able to come up with 5%+ needed. If they also have bad credit, this would mean a much larger %.

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Not namy solutions. Possibly the only one is to pay cash.

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