Noel came up with the idea of paying a loan fortnightly instead of monthly which gave huge savings – premise was 26 fortnights = an extra months payment unnoticed. This was a big step in the 80’s.

His Making Money Made Simple book was my first investing book in 1987 and I went out and bought my first IP immediately after it did.

I will be…[Read more]

Confused,

If you actually buy a place then you can claim it as a purchase expense.

If you are in the business of IPs then you can claim all your research.

What is the line between being an investor and being in the business (full time I think) of IP investing?

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

Comments may…[Read more]

Terry,

Just to add that that 6 month overlap is for while you are selling the first PPOR. You can’t just overlap it without the sale happening within the 6 months!

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,…[Read more]

Redwing,

Perhaps I can illustrate it with an example.

When I was in the ADF I bought my first home back in 1988. 18 months later I was posted to Brisbane and lived in service accomodation.

I rented this property for four years until I decided to sell and buy another PPOR. I did not have to pay CGT.

This is what the CGT exemption is designed…[Read more]

That would be Cashflow 101. Do a search on it and you should find a heap of info.

Maybe Santa will bring it?

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…[Read more]

All the banks have different serviceability models. So where one wont lend another will give you so much it will scare you []

Your best bet is to get in touch with a broker who can steer you towards the product that best suits.

Give Steven an email with all your financials in it and I am sure he will be only too happy to let you know what you…[Read more]

The hitch is that he wont be able to use the FHOG and he will also not get any CGT exemption on sale of the property.

There may be issues with the ATO if everything is not at arms length. Ask a taxation professional for advice here.

You will also realise an extra stamp duty payment than if he purchased his own home. This may well be in the…[Read more]

I have a lot of experience with them both as a broker and as an ex Army Officer.

I don’t think they are too inflated in the purchase price although I believe that the 6 or 9 yr guaranteed rental attracts a premium management fee. They maintain them to a high standard and repaint at the end of the lease. If you have a 9 year lease they recarpet…[Read more]

Redwing,

Thats basically right. But don’t forget they employ a load of experts to make those predictions – some better qualified than you and I. I used to liken it to a casino. Some people walk out winners but the casino stays open because most don’t.

So I normally don’t advise people to fix unless they are the type who derive substantial…[Read more]

Rebecca,

Enjoyed your review more than the original book!

Merry Christmas,

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 can refer you to someone in Melbourne who has done some great work for me in the past.

30 000 is a decent sized town so that is good news.

Drop me an email.

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…[Read more]

Email Nick Moustacas. He is in Sydney and is very very good.

nick@strategicwealth.com.au

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.

Contact a broker who has experience with these sorts of loans!

A lot will depend on how rural the property is. There is a big difference between say Wagga Wagga and Lightning Ridge!

Without more info I can’t give you any more specific info.

Merry Christmas!

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

Comments may not…[Read more]

A LOC can be for as long as you need. 40 years no problem!

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.

atm = at the moment

beers all round sounds good to me.

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 am – just settled on a property for $315K and am doing a paint and tidy up atm. Property Manager tells me we will get $500pw but he plans on aiming for $600pw and thinks it might be achievable.

Also have a dual occ site that we are seeking building approval on atm. We will build and subdivide off the back block.

Tell Nick I recommended him…[Read more]

I know of a few and can pass you on if you are interested – email me.

Problem is that most of them claim cashflow positive properties which don’t meet the 11 sec rule or even come close. They are pos after the non cash deductions are done if you are on the top tax bracket.

Cheers,

Simon Macks
Mortgage Broker
mortgagehunter@iinet.net.au
0425…[Read more]

Well the choices are either cash (ING) or the market (shares or managed funds).

Additionally an idea is to keep it in a family members offset account BUT be very careful doing this as you will get unstuck if you need to demonstrate 5% genuine savings and it isn’t in your name…..

If you don’t like the volatility of the market or the…[Read more]

All the benefits except for the CGT exemption and the FHOG that is.

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.

If you occupy it from purchase as a PPOR then you have CGT exemption for that time and any periods of up to 6 consecutive years of renting. As long as another PPOR has not been established in this time.

Check for yourself with the ATO.

cheers,

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

Comments may not be relevant…[Read more]