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House Purchase (Financial Structure (50/50 Contribution ($1,500,000 Total…
House Purchase
Financial Structure
50/50 Contribution
WB $250,000 Depost
NI $250,000 Deposit
WB $500,000 Loan
NI $500,000 Loan
$1,500,000 Total Budget
5% Stamp Duty - $75,000
Conveyancing
Mortgage Insurance
Owned as individuals or by a company
Benefit of Individuals
Other (trust, partnership, corporation)
Benefit of Company
Future Development change of ownership
Management Costs
Land Tax
Mortgage Insurance
Maintenance
Rental Income + Capital Gains
Why are we doing it?
Learn the process - Pre-purchase, purchase, post-purchase
Financial Gain - Make Money
Open options for future learning/gain
Bit of fun
Property Characteristics
Size
Location
Rental Potential
Relationship Management & Risk Investigation
What Can go Wrong
Exit Strategy
Death/Illness
Market Crash (?)
Interest Rate Rise
Loss of Income
Falling Out
Sale