Total Members: 158,668

hellman

  • hellman replied to the topic what is the 80% best lowdoc in the forum Finance 18 years, 3 months ago

    “Forget about the cheapest rate; the cheapest rate isn’t necessarily the best product”

    I am always curious why people spend so much time trying to get a point off here or there when there are bigger issues to look at.

    For example I would rather pay a much higher rate and get a higher LVR or a personal banker than always just trying to get the…[Read more]

  • hellman replied to the topic Unit Trusts and Land Tax NSW in the forum Legal & Accounting 18 years, 3 months ago

    Accordingly Ed Chan’s Property Trust will now not be able to claim the discount eitheir.

    hellman

  • hellman replied to the topic $30,000pa Gross – Can she get a loan? in the forum Finance 18 years, 3 months ago

    Approx. $120,000 (based on living on $250 p/w).

    Check out the ‘How much can I borrow?’ claculator:
    http://www.anz.com.au/aus/calculators/default.asp?from=anzhp

    Hellman

  • hellman replied to the topic European laundries in the forum Value Adding 18 years, 4 months ago

    Just use standard Taps (and other plumbing items) not the european taps (which are non standard, and do not fit our appliances!!!!).

    hellman

  • hellman replied to the topic Please explain Tax Breaks for newbie! in the forum Legal & Accounting 18 years, 4 months ago

    Although most people who negative gear actually lose money, they make it up through capital gains (sell or revalue (you can live off equity, though there is much debate about this strategy)). Or if you pay P&I (Principal & Interest) over time as rents go up, but your mortgage repayments stays the same the rent will overtake the repayments…[Read more]

  • hellman replied to the topic ATO and Investment Trusts in the forum Legal & Accounting 18 years, 4 months ago

    Also a lot of the time the ATO likes to bang the drum of publicity for a few different reasons –
    ~ It scares people who are cautious and so they won’t use trusts (and so will probably pay more money in tax);
    ~ It shows the taxpayer / middle class (largest block of voters) they are doing something – ‘clamping down on the rich’;
    ~ It warns people…[Read more]

  • hellman replied to the topic low/no doc personal loans in the forum Finance 18 years, 5 months ago

    As long as you meet the banks criteria then it is possible. Of course it does depend on the amount you wish to borrow (usually personal loans are capped to a maximum amount).

  • hellman replied to the topic Structure Help Please in the forum Legal & Accounting 18 years, 5 months ago

    Do we place current PPOR into trust? (currently in both names)”
    imagine taking something from a tax free environment into a taxable environment…….you obviously don’t know the repercussions…i had a laugh there

    > Why laugh? Right now they are totally exposed to a lawsuit (the risk is usually low anyway, but depends on profession, etc). What…[Read more]

  • hellman replied to the topic Notes in Australia????? in the forum Finance 18 years, 5 months ago

    There is really no real ‘note’ market here in Australia.

    But really all a note is, is a binding contract. I guess the main difference is the fact is that in the US it is seen as an instrument more (and so can be bought and sold).

    hellman

  • hellman replied to the topic Leveraging Rural Equity in the forum Finance 18 years, 5 months ago

    “Brokers can be great, however, if you do your own submission in a professional manner and send it to different banks you may be able to complete the deal yourself. The last broker we used cost us $5000.00 and the bank manager told us we should have just come to him in the first place. $5000 could be a house deposit!”

    While that may be true, the…[Read more]

  • hellman replied to the topic mortgagee sales in the forum Help Needed! 18 years, 6 months ago

    We don’t really have mortgage sales here like they have in the US. Usually it goes to public auction by a local RE agent (usually they will put “Mortgagee Sale”in the property description).

    As such it is very difficult to almost impossible to buy house that has been forclosed upon privatly.

  • hellman replied to the topic And/or nominee and trusts in the forum No Subject 18 years, 7 months ago

    “Back in ’97 when we were completely unaware we sold our 2nd IP to a “and/or nominee” and got royally done over by the wily next door neighbours. Cost us 16K.”

    Dazz – how???

  • hellman replied to the topic Wraps & Big 4 Banks in the forum Creative Investing 18 years, 7 months ago

    I would always use a broker when obtaining finance.

    At the end of the day the mortgage broker gets paid by getting you your loan while the bank manager simply gets a bonus. In my mind mortgage brokers fight harder to get the loan than staff do.

    As such I would use a mortgage broker (whom has many more lenders on their panel, where as a bank has…[Read more]

  • hellman replied to the topic Finance Valuation done by the Work Experience Kid in the forum General Property 18 years, 7 months ago

    You could demand the bank does a revaluation, you will have to prove this though (so you will need to get the average selling prices of houses in your neighbourhood and compare your hoiuse to recent sales – e.g. X house sold for $X and it did not have air conditioning, etc).

    Or you could get your own valuation done (see if it’s on the banks panel…[Read more]

  • hellman replied to the topic Passive Income Using Property – Is It the only way in the forum Help Needed! 18 years, 7 months ago

    Property is not the only way to create a passive income, you can have a biz/stocks/bonds/RE notes/etc that can all provide passive income. I like property because it’s stable and safe. For example say you got a manager to run your biz, you now might get passive income, but there are higher risks (for example competition, your product being made…[Read more]

  • hellman replied to the topic Trust and Company queries in the forum Legal & Accounting 18 years, 8 months ago

    Okay there are a few factors heres at play.

    The first factor is what is written on the deed of the trust. If he is the appointer then he can hire or fire the trustee (this can be over ruled though). The trustee runs the trust on behalf of the beneficaries. So could this person fire you – if he was the appointer of the trust, yes.

    But if you were…[Read more]

  • hellman replied to the topic Pre Nups .. do they protect us ? in the forum No Subject 18 years, 8 months ago

    If they are good enough for Donald Trump there good enough for me. As such I would have a pre nup, but then I see wealth over a multi generations and as such I’m going to do the best to ensure that. While some people might say I’m setting up for failure, I see it as setting up my future generations for greatness (as well as any charities that I…[Read more]

  • hellman replied to the topic Remote Location Lending Ratios in the forum Finance 18 years, 8 months ago

    “This particular property is a block of 4 strata units”

    Banks tend to see these as more commercial in nature and as such the LVR drops say from 90% to say 70%.

    Hellman

  • hellman replied to the topic Byron Bay in the forum General Property 18 years, 8 months ago

    Manly I’m sure (with more pubs and a rise with assults).

    Im sure alot of tourist towns go through something similar.

    In terms of prices of property I don’t think there will be much change. People still want lifestyle. There might be higher vacancies perhaps… (But probably not).

    Hellman

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