Originally posted by chris67:

As a footnote, I want to say we have a fair amount of cash, which we eventually want to use to fund our next PPOR in the next year or so. We prefer to do this without having to take a further loan.

Whatever you decide to do – DO NOT put any of this cash into an IP loan. Use an offset as Derek suggested but don’t…[Read more]

Originally posted by rozan:
I think the above comments are correct if the rented house was claimed as your PPOR (and you didn’t claim another).

Both of the above posts made that very reservation but you are quite right.

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
simon@mortgagehunter.com.au
0425 228…[Read more]

I understand your enthusiasm.

The market is not moving up at the moment. Any purchase you make should be considered medium term investing at least.

My point is that should you decide to save a decent deposit over the next 12 months then I don’t believe that you will be paying a higher price than if you bought today. In fact many people are…[Read more]

Good idea to talk to someone with 5 IPs if you aspire to also being a property investor.

Having ideas about potential growth is also good.

I am guessing you are at High School. I wouldn’t get too caught up in picking a location right now. Wait until you are closer to buying.

What you should be doing now is visiting sites like this, talking to…[Read more]

What do you hope to get from an Investment group that cannot be obtained through these pages?

Not trying to be a wet blanket – I am genuinely interested?

I know of many groups of like minded people who meet monthly to swap ideas etc. Melbourne, Perth, Canberra, Sydney and Brisbane all have one that I know of.

Non profit groups run by the…[Read more]

Originally posted by cruiser:
Dear oh Dear
These posts just show the extent to which those concentrating on making money as their number 1 aim neglect to keep up with other issues.
Sigh.
Simon,
1. No it is not illegal.
2. Women who enjoy women-only spaces are not necessarily intimidated by men although many have reason to be. Women enjoy…[Read more]

I have been to one of these and would go again if it wasn’t a 10 hour return drive.

For anyone living in the ACT or surrounds and interested in property investing must attend and start networking with likeminded folks.

Cheers,

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
simon@mortgagehunter.com.au
0425…[Read more]

Originally posted by Dr.X:
Sorry but I have to agree with Simon here!

You are apologising for agreeing for me?

What am I – some sort of pariah?

[blush2]

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you…[Read more]

What are your goals? Have you decided on goals?

Are you looking to replace your current wage?

Or, are you looking to build long term wealth?

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend…[Read more]

You will have problems getting finance. These places sel lwith higher yields as they are unpopular. Make sure you know exactly what you are getting before you sign any contracts. Some pretty slick salesman are employed to sell these.

i would counsel against them myself but I am no advisor ….

Simon Macks
Residential and Commercial Finance…[Read more]

You are claiming the depreciation now and it does increase the CGT assessment. But as this is halved it is better to get it now and help with cashflow.

If you sell the property in 20 years time then pay tax on 50% with 2026 dollars and take a refund today at 100% in 2006 dollars.

I know which I prefer.

If you are a buy and hold investor then…[Read more]

They are essential.

You get a report detailing what depreciation you can claim on your tax for all the fittings, furniture and even the buidling if new enough. A modern apartment can get you an awfully big refund – even if pos cashflow….

Given that my QS has a guarantee that if he doesn’t get you more than double the reports cost back in…[Read more]

Originally posted by mathewc73:
Simon dont be overly upset not being invited to exclusive womens business.

Not upset.

How is developing an exclusive women’s business?

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
simon@mortgagehunter.com.au
0425 228 985

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

As the guys above have said this is a whole different ball game to resi finance with fewer “out of the box” products available. Most things are tailored and you need to find a good commercial finance broker who can approach multiple lenders and negotiate a best deal on your behalf.

All the best

Simon Macks
Residential and Commercial Finance…[Read more]

You are right. Pretty standard question.

This doesn’t happen in Australia. Foreclosures are fairly uncommon and usually proceed to auction. Lenders are required to get a fair market price not just dump them to recover the loan outstanding.

Cheers,

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70%…[Read more]

You are right. Pretty standard question.

This doesn’t happen in Australia. Foreclosures are fairly uncommon and usually proceed to auction. Lenders are required to get a fair market price not just dump them to recover the loan outstanding.

Cheers,

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70%…[Read more]

Originally posted by troynbec:
Simon

Why would a female only group concern you? Do you argue at Fernwood gym to let you in? Would it make any difference it were for a particular nationality (Asian groups are common), what about left handers, short people? I believe there is even groups for amputees. You could join that group, but you can guess…[Read more]

Why would you exclude men?

Isn’t that illegal?

Do they intimidate you?

Not trying to make you feel defensive – just wondering why I would be barred from such a meeting of minds because I have a different mix of chromasomes? [biggrin]

Cheers,

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70%…[Read more]

If you didn’t buy another PPOR then you will have to pay CGT on the last 3.5 years growth. ie 6 years CGT exemption plus 0.5 years occupancy.

This means you have averaged growth of $35K pa. Over 3.5 years this is roughly $120K.

Remember that you can then deduct stamp duty and other buying/selling costs.

You also get to apply a 50% discount to…[Read more]

Tax office only care about your income from the house and expenses. What you pay in rent (or not) is of no interest.

So just tenant it, keep records and do your tax.

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
simon@mortgagehunter.com.au
0425 228 985

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