More than 90% of all Australians Retire on less than $400 per week.
This initial consultation kick start your personal property development journey towards a better financial future.
Get our independant professional perspective on how to create a successful property investment business, or just simply learn how to pay off the mortgage on your family home sooner ... and save a lot of interest!
Ultimately, building wealth is up to just one person – you.
We believe, that the more you understand about property investment, the more confident you become in your decision making. Take the time to question and learn from others.
Below is a list of sample questions that have been asked, perhaps you have asked one of them.
Q. What if I have no deposit for an investment property? What you mean is that you have no cash for a deposit. Cash is not really necessary when you have equity in your own home. Having sufficient assets against which to borrow is all that is required and in this way, you can borrow the full amount plus all the additional costs, and if it is done correctly - the interest paid is fully tax deductible.
Q. We own our own house but want to borrow money against this house to build a bigger and better house in which to live. We would still like to keep the one we’re living in now as a rental property. Is the loan tax deductible? The short answer is no, the loan is not tax deductible. This is a classic situation in which many property owners can find themselves in when they decide to upgrade the family home. Assessing whether interest on a loan is tax deductible depends on the purpose of the loan – not on the collateral for the loan.
In this case, the purpose of the loan is clearly to build a new home and not for the purpose of producing income. This situation is a double loss. Not only would the interest on the loan not be tax-deductible, but also the rent from the investment property would be taxed at the highest marginal tax rate. A simple solution could be to sell the first home and put the proceeds into the new home; you would then borrow to buy a rental property, using the equity in the new home as collateral. The interest on the loan would then be tax-deductible and instead of paying tax, a tax refund would more likely result.
However, there may be other alternatives. For example, if the first home had been bought in the wife’s name only, the husband could borrow the money to buy the property from his wife, and she could put the money she receives towards the new house. A legally binding contract is needed, and stamp duty must be paid, however, the tax benefits may far outweigh the transfer costs. I would recommend that you check with both your solicitor and accountant before you attempt any transaction of this nature, because if it is not done correctly, it may prove to be a costly but fruitless exercise.
Q. Why hasn’t my accountant told me everything about investing in property? When you go to the garage for petrol, does the attendant come running out to suggest that your brakes need checking or that it’s time for an engine tune up?
We probably expect too much of accountants. They should be able to answer all of your questions competently, but don’t expect them to be creative in guiding your wealth creation program. Accountants are usually specialists in their area of expertise – accounting. They will expertly complete the tax forms for you after you have provided them with all the figures, but you still take all the risk on their filled out forms - as you sign a declaration absolving them of responsibility.
Most accountants are usually not specialists in property investment and therefore should never be relied upon as an authoritative source. However, there are some accountants who do specialise in property investing – and even have hands-on experience with some rental property of their own.
First Home Buyers | Seasoned Home Buyers | Investors | SMSF | Company/Trust
We help our clients to CREATE Real Wealth through STRATEGIC Property Investment to Solve the $50k Question - Sufficient Ongoing Income For Retirement!
HOW IT WORKS:
To maximise the time we spend together in this strategy session – we need to do our homework! Prior to scheduling the strategy session, we begin with an initial 10 minute phone chat and/or email to learn about your situation. This typically involves collecting personal information about you and your goals.
Once we have this, we set up a time to have this hard-hitting, no-obligation 60 minute strategy session about your individual circumstances. In between collecting your information and this consultation, we take the information you provide us away and come up with specialised strategy tailored to your goals.
This means your 60 minute strategy session isn’t wasted talking about your income and history – it’s purely 60 minutes of strategy to help you grow and achieve your next steps to financial freedom.
WHAT HAPPENS NEXT?
If you like our suggestions and what we have to say, it’s about actioning any plan you may have. This may or may not involve adjustments to your loans/new loans, depending on your unique goals and circumstances.
If it does, you’ll move through to the next stage of the process – PUTTING THE PLAN INTO ACTION.
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Our Experienced Consultants have more than 50 years of combined experience and are dedicated to finding the best outcomes for your individual situation, because... Your Success is our Business!