Structure information

Hello all,
I have few questions relating my situation:-
1. PPOR joint ownership (me and brother).
2. Investment property (brother only).
3. Investment property (me only).

We are looking to get into building up our portfolio but hurdle is due to owner occupied joint with brother which is limiting both of our borrowing.

 

Sell or one buys the other out? Are you both living in the property as ppor? Assuming at some point you will live separately.

 

You might have a few questions, but you didn't ask any.

There are at least 4 lenders that will take your 'share' of the joint loan into account when assessing future serviceability. St G, AMP, Suncorp and Heritage i think.

 

Thanks for replying,
Buying out options? E.g what to consideration?

living at same ppor.
Yes will move. Eventually he may move out to his investment.

 

Thanks

 

Please advise what to consider as we both earn 80k each and planning to build up portfolio.

 

you should consider many things some of which are
- funding deposits
- serviceability
- who should borrow
- who should use funds
- ownership structure
- estate planning
- asset protection issues on divorce, bankruptcy, death and incapacity
etc etc

 

So to overcome this complexity:-
One to buy other out and start again?

 

Not necessarily.

 

Please advise to build up portfolio with current scenario:-
1. Borrowing options
2. Structure setup options
3. Deposit (use equity form joint or individual investment properties to borrow)

 

You would need to seek paid advice for that.

 

Happy to consult with you,
I am in Melbourne

 

I have too many clients at the moment so can't take on any more for a few months I think. I might organise a trip to melb in Nov for consultations. get on my newsletter if you want to be notified.