End Game \ Retirement Category

Discussion in 'PropertyChat Community & Website' started by Vassago, 30th Oct, 2015.

Join Australia's most dynamic and respected property investment community
Page 2 of 2
  1. Lacrim

    Lacrim Well-Known Member

    Joined:
    25th Jul, 2015
    Posts:
    6,190
    Location:
    Australia
    Thanks MTR, yeah so the profits from selling down some/all of the units or townhouses is considered as INCOME for the banks. I didn't know one could do that ie use manufactured equity as income in the bank's eyes. Guess I know now :)
     
    Lacrim, 16th Nov, 2015
    #21
  2. MTR

    MTR Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    27,845
    Location:
    My World
    Hi Lacrim
    I am not an accountant so no expert here, but I have sold down 6 properties in the last 2 years still holding 2 of these.

    We use the profits as income, we buy in trust and I leave it up to him because its a balancing act, between income/profits/distributions and ways to reduce tax but also service loan.

    I have an idea on profits but wont know how we are exactly going to strategise till I meet him next month.

    MTR:)
     
    MTR, 16th Nov, 2015
    #22
Page 2 of 2
Build Passive Income WITHOUT Buyers Agents!

Build Passive Income WITHOUT Dropping $15K On Buyers Agents Each Time! Helping People Achieve PASSIVE INCOME Using Our Unique Data-Driven System, So You Can Confidently Buy Top 5% Growth & Cashflow Property, Anywhere In Australia