If you sell you need to calculate selling and buying costs and you still just own the one property.

Why do you think you need a LOC?

Why not raise your current loan by, say $50K but don’t draw it. Find an IP. Draw enough for a 20% deposit plus costs and find another lender to do a stamd alone 80% lend. Probably cheaper this way too.

All the…[Read more]

I have clients all over the country as I am sure many brokers do. If you don’t need someone by your side when you complete an application form then it works fine!

By the way I lived at Enoggera for about five years when I was in the Army!

Cheers,

Simon Macks
Mortgage Broker
mortgagehunter@iinet.net.au
0425 228 985

Comments may not be…[Read more]

Ginamarree,

Whilst we hear stories of the tenants from hell just remember that the vast majority of us experience hardly any problems with our tenants and when we do it is often just a matter of poor communications.

If you rent the property out and I paying off a PPOR as well then I would strongly recommend changing the IP loan to…[Read more]

Your plan appears to comply with the requirements for the FHOG.

Cheers,

Simon Macks
Mortgage Broker
mortgagehunter@iinet.net.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

As a newcomer to Newcastle I found that locals have a poor image of these suburbs. They can’t seem to see the changes being wrought and the money being poured in. Wickham = Balmain. Tighes Hill = Glebe etc.

Even now that they are preferred places to buy many locals are stuck in a paradigm.

Cheers,

Simon Macks
Mortgage…[Read more]

Mine was a genuaine 95% of purchase price and valuation came in the same!

Cheers,

Simon Macks
Mortgage Broker
mortgagehunter@iinet.net.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Newcastle is still appears to be moving ahead but not at the rate it was in the previous couple of years. REAs have more listings now b.

The cheaper end of the market is under some pressure from buyers from Sydney who visit on weekends looking for IPs.

It is a coastal city equal 6th largest in Australia. There is quite a bit of industry as…[Read more]

SIS,

I think you are older than you let on!

A particular mature and well presented outlook for one of your age.

I will buy you a beer one day.

Cheers mate,

Simon Macks
Mortgage Broker
mortgagehunter@iinet.net.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation…[Read more]

MarkyMark has a site which gives the guidelines of the legislation.

Lea you are nearly right:

“Are you a person who has NEVER owned a residential property?” PRIOR TO 1 JULY 2000

Note my amendment in capitals.

Cheers,

Simon Macks
Mortgage Broker
mortgagehunter@iinet.net.au
0425 228 985

Comments may not be relevant to individual…[Read more]

Peter,

I think you have taken an extreme view.

Helping out and giving a property are two different things.

How does a young couple buy in places like Sydney now on their own? Letting them use equity in a property still has them saddled with the whole debt.

Did you teach your children to swim by leaving them alone in the water or were you…[Read more]

Well I can honestly say that I once wrote a 95% loan with less than 6 months genuine savings for a $500 000 property where the bank chose not to have LMI at all.

Just the once though!

Cheers

Simon Macks
Mortgage Broker
mortgagehunter@iinet.net.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any…[Read more]

and it is those fears that stop everyone from doing it.

Simon Macks
Mortgage Broker
mortgagehunter@iinet.net.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Freedomfinder,

Lots of people make money like this. I have many clients who do so over and over again!

I also believe that in the event of a slump middle class 3-4 bedroom homes hold their value best.

Cheers,

Simon Macks
Mortgage Broker
mortgagehunter@iinet.net.au
0425 228 985

Comments may not be relevant to individual circumstances. If you…[Read more]

tiger,

I don’t think that is true of all these type of properties. I think you are talking about the major centres that residents buy into but never really own ie that cannot be resold on the secondary market.

Cheers,

Simon Macks
Mortgage Broker
mortgagehunter@iinet.net.au
0425 228 985

Comments may not be relevant to individual…[Read more]

As long as you never occupy the IP you will be OK.

Cheers,

Simon Macks
Mortgage Broker
mortgagehunter@iinet.net.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

I will help my kids when the time is right.

What are the cons for helping family out? As long as they are responsible I don’t see any.

Cheers,

Simon Macks
Mortgage Broker
mortgagehunter@iinet.net.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you…[Read more]

I think the colours refer to how good looking one is.

With blue and purple being a bit rough whilst red is movie star quality.

Hope this helps,

Simon Macks
Mortgage Broker
mortgagehunter@iinet.net.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you…[Read more]

Dom,

Let me give you an example.

Had you negative geared into waterfront property on Lake Macquarie two years ago your $6-800K investment would now be worth $1.2-1.4M.

This is why people negative gear.

Cheers,

Simon Macks
Mortgage Broker
mortgagehunter@iinet.net.au
0425 228 985

Comments may not be relevant to individual circumstances. If…[Read more]

“I’m lonely,” Adam told God in the Garden of Eden. “I need to have someone around for company.” “Okay,” replied God. “I’ll give you the perfect companion. She is beautiful, intelligent and gracious, she’ll cook and clean for you and never say a cross word.” “Sounds great,” Adam said. “But what’s she going to cost?” “An arm and a leg” answered God.…[Read more]

check out the SMH website.

http://www.smh.com.au

My money is on it being a publicity stunt.

Cheers,

Simon Macks
Mortgage Broker
mortgagehunter@iinet.net.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.