All Topics / Help Needed! / On the way to 2nd IP and trying to find the right strategy
DFT ??? Sorry not sure what you mean….
Sam
DFT = Discretionary Family Trust.
I’m looking at setting up a family trust at the moment. My husband & I are maxed out in investments & finding it hard to source finance to buy more property due to serviceability of the loans.
Does anyone know if we may be able to transfer our existing property into the trust to keep everything together, or is it a matter of selling to the trust? I’m still a little confused about how they work…
Any help/advice/ links would be great as all the sites I have found talk in legal terms and aren’t very helpful! I understand the general idea of it and the basic benefits but am still a little wary as I feel I’m setting everything up’just cos’Menunes wrote:I'm looking at setting up a family trust at the moment. My husband & I are maxed out in investments & finding it hard to source finance to buy more property due to serviceability of the loans.Hi there
A trust isn't going to solve your serviceabiltiy issues.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Sorry, half the info I guess… Whole story now!
Please correct me if any of the below is a naive way of thinking and completely wrong, as I said we are just starting to set this up & want to get it right from the get-go!My sister & her partner, myself & husband are setting up a company to start investing.
We each have our personal investments, All existing properties are positively geared, in our case they are of varying risk categories (single units, unit block, single dwelling, holiday rentals) in various spots around Australia.As a team we are hoping to combine existing personal equity to assist in the purchase of company assets. I was under the impression (again maybe must my ideal…) as we will be guaranteeing the loans of the company rather than personally lending serviceability would be improved. In addition, I understand this is the best way (or at least one of the ways…) to protect your personal assets from your investments.
Jamie M wrote:Hi thereA trust isn't going to solve your serviceabiltiy issues.
Cheers
Jamie
Just thought I'd clarify… It's the lenders tests of serviceability not the physical ability to pay the loans…
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