It's not possible to continually do this yourself legally, Jody, you're quite right. Yes, lots of people do it, but they're taking an enormous legal risk and I'm sure there'll be a case sometime soon that highlights the perils.Dollarman, you certainly can't take turns with your spouse here in QLD, unless you have no shared property ownership or…[Read more]

Hi goldengoose, you're absolutely right to think in terms of the return on YOUR money, rather than the gross return on the overall asset. But where your thinking may not be crystal clear is that leverage (using as little of your own money as possible) only magnifies any profit or loss – it never turns a loss into a profit or vice-versa.So if your…[Read more]

wezwaz, I wholeheartedly concur with Paul and Karen – my solicitors have saved me far more than I've ever paid them. If your transaction is completely straightforward, then you may consider the $500 to $1000 spent on conveyancing and oversight of your purchase/sale as "wasted". But the problem is that a not-insignificant portion of transactions a…[Read more]

Hi atapiap!I feel for you – what a horrid experience as your first foray into property. Yes, you should have been better educated, but I hope people won't go too heavy on that point because I know you're well aware of that, and it really doesn't help you now, does it? Your English seems excellent to me, incidentally.I think you will certainly lose…[Read more]

Well, life is funny sometimes…. by coincidence, I recently ran into somebody who was intimately involved with Steve's early property dealings and I had the chance to ask him about this. What he told me is exactly what I suspected – that the strategy is "if they don't ask, don't tell".  It is possible to use this strategy in the sense that it c…[Read more]

Here here, Adam. Quite a lot of posters seem very willing to assume bad faith, imply fraudulent intent, and pass their judgement, without actually answering the question with any useful information. I've not used this strategy and have no intention of using it if it's not legitimate. I am making genuine attempts to ascertain whether it's viab…[Read more]

Gees I think there are some judgemental people on this forum who make incorrect assumptions.

Yossarian wrote:
Trakka,The lender doesn't ask about "liabilities in your name", they ask about "your liabilities". If you have obligations that, however constructed, will come to you should the proverbial hit the fan, you should declare them:(a) so you're not up for fraud; and(b) so you don't borrow more than you can reasonably afford.There is…[Read more]

I did Wildly Wealthy Women in 2004 and 2005, and I'd have to add to the chorus of satisfied customers. For those who asked why you'd repeat, many women do it for the social interaction – it justifies getting away from the family for a weekend if you're going to an educational event! – but in my case it was because I didn't feel that I committed to…[Read more]

Dear katz,

The procedure varies between states. Which state are you planning to buy in?

Regards,

Tracey

Tracey Bryan
Brisbane

With regards to holiday letting, it largely depends on the nature of the property. If it’s an apartment in a complex with existing onsite management and there’s demand for holiday accommodation in that area, then it may be worth a try. But if it’s a house in the suburbs (ie not in a prime tourist or business location), I’d be concerned about…[Read more]

Hi Max! It certainly does depend on your particular circumstances but I can think of 4 main issues that may sway your decision:

1) FHOG – can only be obtained if owned personally/joint (Trusts and Companies ineligible) – personally I don’t think this should be a primary consideration and is generally given much more significance than it…[Read more]

I’m wondering if the adverse response that we sometimes experience has anything to do with our attitude at the time…
If we’re thinking “these people are going to be jealous because they’re small-minded and unambitious and if that’s the case I’m just going to ditch them and find somebody more ‘positive’ to be around”, [blush2] then maybe others…[Read more]

Originally posted by TMA:
Ask your lender if they will separate securities. If they will you will not need to refinance. If they won’t, you can refinance within the same lender or find another lender. You need to split your loans so the LVR on each property is at acceptable levels to be able to stand alone. It is not a difficult task.

Example of…[Read more]