Hey lads after some advice heading forward to get more properties and finance structures.
I’m wondering if putting my properties in a trust would help free up borrowing power which I’m struggling with currently.
Any ideas or suggestions would be appreciated.
I’m 25 currently got 2 properties worth around $2.1m with about $1.2m mortgage debt.
Income is $227k/yr with $70k in super and wife is a stay at home mum at the moment with a new Bub, she has $45k in super. 3 kids total.
PPOR worth $1.1m owing $810k.
IP worth $980k owing $405k.
Rental Income - $700/w make roughly $13.5k net yearly which my wife claims as her income so we don’t pay tax on it.
I have investment bonds set up for each kid with $2300 in each currently and $100/m deposit per kid. They don’t take control until they are 25yrs old.
Any tax deduction advice on this would be good.
I have a $98k car loan (terrible financial decision but love!the car for the family)
TIA
I’m wondering if putting my properties in a trust would help free up borrowing power which I’m struggling with currently.
Any ideas or suggestions would be appreciated.
I’m 25 currently got 2 properties worth around $2.1m with about $1.2m mortgage debt.
Income is $227k/yr with $70k in super and wife is a stay at home mum at the moment with a new Bub, she has $45k in super. 3 kids total.
PPOR worth $1.1m owing $810k.
IP worth $980k owing $405k.
Rental Income - $700/w make roughly $13.5k net yearly which my wife claims as her income so we don’t pay tax on it.
I have investment bonds set up for each kid with $2300 in each currently and $100/m deposit per kid. They don’t take control until they are 25yrs old.
Any tax deduction advice on this would be good.
I have a $98k car loan (terrible financial decision but love!the car for the family)
TIA