Roxy,

Just took the liberty of sending you a property list from an investment group I hear from occassionally.

It isn’t a sales pitch or even an endorsement – just for info.

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]

Dino,

That is my philosophy too.

Years ago when we were expats in an Asian country we bent over backwards to make new folks welcome and help them out where we could. Our reason? So many folks were wonderful to us and we wanted to repay that indirectly.

It is the same with so many things in life and I try to always give a little more than…[Read more]

Damien,

It is true and you will need to approach your bank directly.

All the best,

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.

Kadab,

That could very well have been set up as seperate deals from the start.

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.

Thanks Terry and apologies to Picja. I thought he was referring to the ST George one!

Everything unusual comes at a price. 7.6% isn’t cheap.

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…[Read more]

That is OK. You just need to move in before the 12 months is up.

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 are OK with fraud then go for it.

I can’t believe a bank employee would encourage this.

Read the rulings at http://www.osr.nsw.gov.au. The FHOG is clearly designed for people buying their homes.

Sorry if I come across a little harsh – just annoyed at people who encourage others to take financial risks like this. You are the one who carries…[Read more]

Mel,

Can you drop me an email please?

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.

Picja,

Are you sure it is mortgage insured at that level? I think it might just be a bank fee with them carrying the risk.

Which lender are you referring to?

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]

There are some shockers out there as evidenced by the stories here. But when you find a good one and should something go wrong you will realise why you have one.

Especially if the property is not conveniently located nearby.

Sometimes it is best to pay an expert that works well with you. The difficulty is finding one! i think personal…[Read more]

Mel,

Probably a great strategy in a quickly rising market.

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 chat with Bill a fair bit. He is definately on the up and up and I believe that he is at a stage in his life where he gets a lot of pleasure out of helping others.

I don’t know how many people even Bill can take on though!

Cheers,

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

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

Mel,

Whilst these are called 100% loans they have exxy fees and the reality is you still need a saved 3% deposit to cover these fees. Rates are higher too.

Huey is spot on. If you have the equity then you can easily borrow 100% plus costs at cheap rates.

Cheers,

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

Comments…[Read more]

Mel as always you are right!

The RC – I think this is wrong. When you purchase the next home you forfeit the CGT exemption on the first one.

It would work fine if you rented the second home but the minute you buy another home they won’t both qualify. Take a look at the ATO website for a full explanation.

Cheers,

Simon Macks
Mortgage…[Read more]

Hi Johnny,

Not sure I 100% understand your question but will take a crack at it.

A mortgage will reduce the equity in a property. A $200 000 property with a $80 000 mortgage will show $120 000 equity.

A mortgage will be about 6 – 6.5% depending on the features required. Some LODOCS will go to 7.6% or more but I do have one as low as 6.35%. I…[Read more]

Can have two PPORS at the same time for 6 months if they overlap between buying and selling.

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 it in NSW then email me.

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.

For SA.
http://www.revenuesa.sa.gov.au/stamps/sdreal.html

Where value of the property conveyed Amount of Duty
Does not exceed $12,000 $1.00 for every $100 or part of $100
Exceeds $12,000 but not $30,000 $120 plus $2.00 for every $100 or part of $100 over $12,000
Exceeds $30,000 but not $50,000 $480 plus $3.00 for every $100 or part of $100 over…[Read more]

Check out your office of state revenue equivalent for the stamp duty formula.

Borrowing costs will be dependent on your loan size versus the purchase cost. LMI is the killer here.

Legal fees are usually $1500 – 2000 here in NSW – but it does vary a great deal between states.

Sorry I’m actually not all that accurate. Call a conveyancer and ask…[Read more]

You are looking at the following.

Building and Pest inspections $400 – 500
Stamp Duty
Borrowing Costs
Legal Fees

If you give me a state and a price of the property I could put figures in for these.

All utilities are the tenants responsibility.

Cheers

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

Comments may not be…[Read more]