Patricia,

Regarding Interest only let me suggest that it is really up to you. If you like the thought of paying off the debt then that is OK.

If you own a home with a mortgage then I would suggest you pay both lots of principal payments onto the home loan. This is more tax effective.

One idea is to pay IO and put an additional sum into an…[Read more]

I have two kids but sometimes it feels like 12…does this count?

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

Oops I hope I haven’t created a monster.

Just a favour to gocats. I can’t go doing it for everyone – I would never get any work done. []

Just a spreadsheet with showing what a property costs per week to own. Nothing too flash.

Cheers

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

mmm I am guessing Scott isn’t Japanese? [8D]

Scott, That would depend on lots of things including the relationship between the two parties. I couldn’t advise here without enough info to make some calls.

Post more detail or just email it to me if it is not for public display.

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

Often when a business is sold there is a price for the business and SAV refers to the price of the stock held at settlement.

An example would be a retail shop where the stock may be worth a considerable amount.

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

It is possible.

The title will be amended to reflect the new ownership. You acn also specify the % split.

Another idea is to leave the title as is but have a solicitor draw up an agreement, obviously this is less secure but may suit some circumstances such as a family arrangement. It wont incur stamp duty either I don’t believe.

Simon…[Read more]

That is cashlow pos on those figures.

9 sq is pretty small too!

I can run a report for you if you drop me an email.

Cheers,

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

I will have a crack at some of these.

Insurance. Landlords insurance is available and I am not aware of people having an advantage or disadvantage by owning more than one property.

Garden maint. Should be the tenants responsibity. If you think it may be a problem you could try to offer it at a higher rent with the maint thrown in. This often…[Read more]

I wrote a long reply but it dissappeared when I tried to post. I wonder if it pops up under another thread? []

Anyway the gist was that LMI will cost you about $1100 +. Tax deductable over the 5 years but still seems a lot to pay instead of saving $3000.

Also saving that $3000 will give you increased equity which is also worth…[Read more]

I agree.

When investor attention turns back to the stockmarket again and we have a new wave of TV shows replacing the current stock I really feel that the prices will stop rising at a phenonomal rate. I think some top end stuff might take longer to sell and I would prefer not to be left holding a lot of OTP apartments in Syd and Mel.

I think…[Read more]

By relocatables I am assuming you mean a demountable type prefab not just moving an existing home onto a block.

Lending for prefabs is harder but not impossible. It would depend on your situation as to whether it can be done, i would certainly like to know more before I gave public advice.

Kit homes are a little better. Esp if they are erected…[Read more]

Wilandel,

I challenged one on that very subject the other day. He claimed that they email the websites to update and it takes ages for them to come down. he said buyers are lined up and the last thing they need is being flooded with fruitless enquiries.

Just one guys opinion though.

Simon Macks
Mortgage…[Read more]

I think lazy is a little harsh – certainly a gross generalisation to call most of them lazy. My contacts in the industry seem to work so hard that they can never keep up with the admin.

Cheers

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

ABN is free at the ATO website – you can actually apply on line. Anyone can get one to set up a business.

A LODOC loan is neither good or bad. I wouldn’t recommend it for someone who doesn’t need one however if you do then it can be the only answer.

Cheers

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

I think a credit card might be worth considering. Gives you a lot of flexibility at not too much higher price.

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

No they don’t.

Rental properties tend to be picked up very quickly just with a rental list in the office.

Due to the quick turnarounds and possibly costs they are very rarely put on the net.

Many agents I know can never seem to get around to getting sold houses off the net so imagine them putting rentals up and down every few days[]

Simon…[Read more]

Don’t expect any stamp duty relief in the short term.

If they do reduce it by 50% (hypothetically) then the few thousand you might save will quickly dissappear as the market adjust upwards – consider how much more affordable first home ownership became after the FHOG – NOT!!

Cheers,

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

Raymond Terrace is the administrative capital of Port Stephens. As such is has the council chambers and much of the infrastructure.

There is also a major RAAF base in the vicinity which puts pressure on the availablitity of rental properties.

On the downside it will always be the lowest socio economic area of the region with folks who can…[Read more]

Tass,

Very easy to use either cash or equity to avoid x-coll. Shouldn’t need to refinance either.

Might I mention at this point that I am in New Lambton.

I would be happy to help you out in any way.

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

Lessons I have learnt along the way and often remind myself of.

Property is cyclical as is the stockmarket.

Things are never different this time.

Because you have made money in a boom doesn’t make you an expert.

Cheers,

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