Thanks for all the great adivce guys!
As expected there were many different ways to handle this. Given the purchase price was only around $170k and the timelines are short, he's bought in his own name.
Interesting was deciding on a lender - some of the second tier banks offered the best interest rates. However he ended up going with one of the big four (higher interest rate) but no LMI with a 90% LVR.
I think for his next investments he will set up a structure.
At 90% LVR he's got <$20k equity to worry about - hardly enough to warrant a lawsuit I would think.
As expected there were many different ways to handle this. Given the purchase price was only around $170k and the timelines are short, he's bought in his own name.
Interesting was deciding on a lender - some of the second tier banks offered the best interest rates. However he ended up going with one of the big four (higher interest rate) but no LMI with a 90% LVR.
I think for his next investments he will set up a structure.
At 90% LVR he's got <$20k equity to worry about - hardly enough to warrant a lawsuit I would think.
