Michael,

It depends on the lender. Some don’t claw back and others have different time frames. But if they do claw back then I believe it is normally at 100%.

If this is your plan then tell your broker. He should then find you a product that wont penalise you for early payout. Interest rate may not be the number one consideration for you in…[Read more]

If you are a buyer then I guess you take wchich ever agent comes with the house []

Heres some ideas if you are a seller. I would go with personal recommendations. Alternatively I would seek out the most high profile well regarded agency in town – poss the one that seems to list all the most expensive homes.

These agencies only employ…[Read more]

Homepath have a great budget prioduct and I have put clients into them when it meets their needs.

They are slow to settle, slow to communicate and will prob drive you nuts up until settlement!

Once the loan is in place they are great.

There is no offset but they do have unlimited free redraws. Don’t be fooled into thinking that this is the…[Read more]

Hang on guys,

What did this agent do wrong?

The law says he has to present all offers to the vendor who decides which to accept.

No agreement is binding until contracts are exchanged.

These are the realities.

It is up do the vendor to select which offer he will accept. They often accept a lower offer where there are clauses such as subject…[Read more]

I just called them.

The girl answering the phone couldn’t answer my questions.

Someone will call me back tomorrow.

Let you know how I get on!

Cheers

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

Spot on Maggie,

Many people believe one has to sacrifice growth potential for pos cashflow.

There are many styles of investing and I believe you need to look at everything out there and make your own call!

And you are well on the path to do this!

Cheers,

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

Aaron,

There must be a better solution out there.

Email me your situation and I will let you know if I have any ideas. Then you can apply direct – I am not chasing business from you. Just want to try to help you find something cheaper.

Cheers,

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

Shelley,

Let me have a crack at this.

Selling your PPOR will not incur any CGT except in unusual circumstances. Did you rent it out during the period you owned it for more than 6 years? Was it an IP before becoming a PPOR? Did you claim any tax deductions for business use or for subletting rooms. Anything else team? As long as these are all…[Read more]

Ash,

Many experienced investors aren’t so keen on them for a number of reasons.

1. They often end up with a lower valuation than the property next door because you have a limited market if you need to sell. This is because it would not be available as a PPOR until expiration of that long lease.

2. The returns are in line with the market…[Read more]

Rob,

You know we have more in common than you realise and I wish to apologise as it sounds like I offended you.

I don’t doubt that my analogy was flawed but I guess I was trying to make a point and couldn’t think of anything better at the time. Most analogies are pretty flawed once they are under the microscope. I can’t even think of a better…[Read more]

Most banks need you to demonstrate a 5% level of genuine savings over a 6 month period.

I do have lenders who will consider the FHOG as deposit though.

You need to see a good broker.

Good Luck,

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

Alana,

You need to check with the vendor if there is a depreciation schedule in place which will advise what you may claim.

If not then I would recommend you use a quantity surveyor to draw one up. This fee will be deductable and will more than pay for itself.

I have a document with more info on it. Email me and I will forward it to you.

You…[Read more]

Sophie,

If your goal is to spend money to reduce tax then a pos geared property wont do that.

If you want to reduce your losses each week then a pos geared property will help there.

As RK asked, how many pos geared properties can you afford to own?

I think many people believe that pos geared properties are better than negative geared ones and…[Read more]

quote:
Michael,
Melanie is spot on so I won’t rehash what she has alredy outlined.
Its worth considering becomming a broker even if its just to service your own finance for the following reasons.
* The commission structure is pretty handsom
* Its part of your education anyway
* Its often not just a box ticking exercise as many brokers have access…

[Read more]

As far as finance there are lots of options available but I suspect these might narrow down once we have more detail.

The deal will most likely be commercial. Do you plan on holding or selling?

If you hold then you will need to consider that some lenders want P+I over 10 years. I do have some lenders who will do IO indefinately on 100% LVR -…[Read more]

Ash,

Love to give advice – it’s what makes my world go around. Could you help me out by posing a question?

I mean you want to invest in Australia and can we advise you…..wow where to start[]

Cheers,

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

There a number of different ways to find something like this. I suggest that the major effort is required in identifying the project. If the numbers stack up then most reputable brokers will be able to finance something like this.

I think you need to focus on finding the deal – this will be your bottleneck!

Cheers,

Simon Macks
Mortgage…[Read more]

Jim,

Consider a Professional Package. See if your bank offers it. This means no reval costs.

Cheers,

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

There is no minimum time frame specified. You can call the Office of State Revenue to discuss this but they will not commit to anything definate.

I don’t think this has been tested by anyone. I believe that anything between 1 day and twelve months would be covered under the guidelines. I guess you need to decide what you are comfortable…[Read more]

Maggie,

Yield is commonly calculated by multiplying the weekly rent by 52 then dividing it by the purchase price. Then multiply by 100.

ie 200 x 52/200 000 x 100

where $200pw is the rent and $200 000 the purchase price.

In this case no outgoings are deducted.

There is software available where all the information can be plugged in and a…[Read more]