Ladybug – give drop me an email as I have several i can recommend.

Cheers

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

Lynchy,

You must be aware that your debt and equities are in the wrong places for tax effectiveness.

Ideally you need to be living in the property that is unencumbered….but that probably isn’t practical.

One suggestion is to transfer ownership of the unencumbered property to either a spouse or to a trust and take out a 100% loan on it which…[Read more]

Pebbles,

How much money do you need to finance the sub division? Council application fees or do you need to put in services too?

I can put you onto financiers who recently helped us with a 25 block subdivision in southern NSW.

As to whether you will be able to do both at the same time is a hard question with no detailed info.

If you have a…[Read more]

Harold,

I would recommend offset rather than redraw. That way if the property becomes an IP and you need the funds for a new PPOR then you will preserve the deductability.

I can recommend two lenders who will give you a LODOC at a normal Fulldoc rate so you wont need to wait two years for it to drop.

Good luck,

Simon Macks
Mortgage…[Read more]

Where is it?

The LVR will be 20%? Or did you want to use less cash?

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

They will be multi level marketing or even pyramid selling. You will be required to enlist three or more folks under you and then help them do the same to build an expanding baseline.

To then build the cash to pay everyone you will each need to either invest a sum of money or buy products on a monthly basis.

It isn’t an easy path to wealth.…[Read more]

Whats wrong with paying tax anyway…I wouldn’t mind a million dollar tax bill tomorrow[]

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

aiyaaz,

I wont go into the problems faced with enforcing family agreements like this.

You need to consider whether you think the market is going to continue to climb or settle down.

If you thing the prices will rise then you would be better buying at todays prices.

One idea might be for you to keep the money in the family members offset…[Read more]

You may want to consider that OTP is great for people who buy with a calculator but if you want to catch the moer emotive home buying market then showing them finished will be more effective.

Cheers,

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

Aruna,

You are correct except I am not too certain about the second 6 year period. I think you may need to reoccupy it between the two periods.

Cheers,

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

Mel,

If you dig into Baycorp they actually mail out your credit reference free of charge – just takes a little longer and I bet you get their advertising bumph as well.

http://www.baycorp.com.au

Look for the free section.

cheers,

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

We were just talking about this the other day.

Our newspapers are starting to be filled with ads for share, options and futures trading seminars. Is this the smart scammers moving into the next boom?

Cheers

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

Problem about keeping quiet about a credit card debt is that it will require you to lie on your application and then sign a declaration that all information provided is correct.

All credit cards will be detailed on your CRA.

Think it over.

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

Well I figger you will get some emails now.

[]

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

They don’t have to pay the FHOG back if the property was their home for any period in the first 12 months.

Hope this removes one worry from her mind at this difficult time.

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

quote:
Mortgage Hunter… are you related to Shaun Hunter
have a good one, all.

LOL []

I started my business in the Hunter Valley and the name was a local play on words!

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

quote:
Hiya Mel,

Is there any change if one was to use a non family member for there equity ?

[]
Michael

It can be done. Depending on the relationship and the evidence of a clear benefit to the person putting up the equity I would consider the NAB.

If no then we need to look outside the square for a lender who will accept a third party…

[Read more]

Andrew some quick answers where I can.

1) Yes. Depending on the exact situation but it can be done quite easily.

2) Yes. But it depends on the parents equity input. You will also need to consider other purchase costs.

3) There is no minimum. Check the Office of State Revenue or your states equivalent website for the requirements. You…[Read more]

Don’t sell just to free up cash in case you want to buy another. You seem to have plenty of equity you can use for your next purchase.

By all means sell for other reasons but not this one[8D]

Looking back on the IPs I have sold in the past I regret having done so – esp with this recent boom.

Good luck,

Simon Macks
Mortgage…[Read more]

I recently had a client working in another country. He was in the same boat as you except he had been self employed for only 6 months.

It was the latter that gave us the most trouble.

Being overseas adds a degree of difficulty but not really much more than that loan wise.

Perhaps you need to talk to an accountant about tax implications.

Good…[Read more]