You need to think carefully before you do this as there are many issues.

You will need to discharge the mortgage and to enter a new mortgage again. This will involve a new loan application. You will need to get the transfer stamped by the OSR before the mortgagee will settle and they will deal with the registration on title.

In NSW stamp duty is exempt under certain situations only. one spouse going to both spouses 50/50 TIC or JT.

There are estate planning, asset protection and potential tax issues so speak with a lawyer before you do anything.

I have no idea either, just guessing.

I think it would be extremely rare for a student to write 4 loans per month, and there would be more involved then just checking the paperwork.

There is no real difference. I am a member of the FBAA . just choose the cheaper of the 2

Do you think there will be growth in the old property? Will this possibly exceed the extra interest you could save on the property 4 if you sold it?

Your maths is off, but that is the general concept.

mynameismike wrote:

Thanks everyone for the help so far. Saw an accountant today who seems to know his stuff, has a bunch of investment properties himself. Initially it looks like I’ll be buying my first house under my own name, live in it for a couple of months as my PPOR, then renovate and sell- as doing it this way means I don’t pay any CGT on the profit. I guess however that means I can’t claim the costs associated with the reno on tax because it’s not classed as an investment, but paying no CGT should outweigh the tax savings anyway.

Did the acccountant point out that if you bought with the intention of reno and selling at a profit then even your PPOR can be subjecct to CGT?

I had a forum member ask for my assistance over a similar matter than went wrong.
Girl had a joint loan with ex and did a parental guaratee as well. Property prices dropped, ex did a runner and about 8 years later they are still paying a loan off with the property long ago sold.

Perhaps Charlie. My trail book has perhaps 5% fixed but my drop off rate is very low, perhaps less than 5% drop off each year and that is because they sell.

Lawyer fees would depend on the court, the higher courts cost more and which court you end up in will depend on the size of the dispute generally.

Investing and business is risy chariie. You have to look at industry average drop off rates, the perccaentage of the book on fixed loans etc and have a restrain clause that the seller is prevented from writing loanss to those clients (he might just get one of his/her mates to refinance all)!Any clawbacks you would get the seller to wear.

fudge111 wrote:

So would I be able to use the equity in my parents home (1.2 million) if they gave me permission to help me launch my property investing portfolio?

What options do I have if this is possible?

Thanks everyone,

fudge111

Depends on the situation but you could possibly do this 2 wayas

1. parental security guarantee.
2. parents borrowing and onlending you the money.

2 would be safer for them.