Yes you can.

You will get the same benefits PLUS

You will get a CGT exemption for at least the period you occupied it as a home and maybe an additional 6 years depending on the nature of your relationship with your partner. If you are renting or boarding with her compared to cooccupying a home as a couple….. best to speak to an…[Read more]

No not at all.

Whilst I might suggest things to consider or even give some generalised tips I would never consider writing a financial plan for a client nor make any recomendations for what a client should be buying.

I just help set up the finance.

As a fellow investor I sometimes chat about what I do …..

Simon Macks
Residential and…[Read more]

Originally posted by foundation:
Originally posted by Katiebaby84:
Simon – thanks so much for the tip! A lot of people have told me to be careful when it comes to FP’s.. [hmm]
I’d second that, but add don’t take financial advice from Real Estate Agents or Mortgage Brokers either. [wink]

F. [cowboy2]

Absolutely – neither of whom are licensed or…[Read more]

Katie,

If you plan on seeing a FP then make sure you do so with your eyes open. Maybe see a few.

Few FPs will recommend property. They generally don’t invest in it themselves and their business is selling managed funds, insurances and saving plans to you. That is how most make their money. One that charges a fee for service and rebates the…[Read more]

There is no right answer.

Buying a home means you have a nondeductible debt that you can use all your income to reduce together. You can also buy a run down property and improve it to build equity faster. You will get the FHOG and SD benefits.

All equity you realise is CGT free and can be freed up by increased borrowings at any time.

Equity…[Read more]

Originally posted by UnknownSoldier:
good info guys… another question that worries me
i understand properpty generally inflates but isnt it all bound to run out or slow down??? its like property is rising 5-10% every year but our wages certainly arent going up that much so eventually there must be a point wheres property will just keep going up…[Read more]

There is no best place and not all lenders are the same.

Is like asking what is the best car for you? Without knowing your needs I couldn’t answer that one either!

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]

You cannot each borrow half on the same property.

What you must do is borrow the full amount with both names on title.

The issue is that when you borrow to buy your next property you will be assessed as owing the full amount on the first one. It may hurt your serviceability.

Simon Macks
Residential and Commercial Finance Broker
***NODOC @…[Read more]

The quick answer is yes – you can borrow against the IPs to buy a PPOR.

However, when you do topup a loan to release funds then the interest on the new part of the loan is not deductible. So if you top up several loans then you need to make sure each new borrowing is recorded on a split so that you can differentiate which is deductible and which…[Read more]

You should be able to borrow in the company name and go guarantor yourself.

If your broker can’t help drop me an email explaining where you are located and I may be able to suggest someone that can help seeing as you are in a rush.

Cheers,

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

There is no rush. property prices are not heading up.

Start by reading. Visit your library or look on eBay to start an inexpensive collection of your own.

I recommend “The Richest man in Babylon to start with”

Cheers,

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

Some more points to complicate your decision.

1. If you live in it first you get a CGT exemption.

2. You don’t lose the FHOG if you rent it. You can still use it when you do buy a home.

Your repayments can be lower. Consider an IO loan. Without knowing the loan size I cannot give you figures. What deposit are you planning on…[Read more]

Regardless of the name these properties all go to market the same as other’s. Usually to Auction to ensure a decent “market” price is achieved.

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]

Originally posted by Kuade:
I would avoid auctions. They’re focussed on making the seller as much as possible and the buyer has no negotiation power. They’re good to visit and watch to get an idea on what interest the property has though.

I think auctions are focussed on getting the REA as much as he can by turning over property sales…[Read more]

Nothing needs to be changed or adressed until an assett is sold and CGT needs to be paid. This is decision time.

Of course if you never sell then the whole concept is moot.

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]

This property is certainly negative geared.

You must anticipate that it will appreciate at a faster rate than your $500+ shortfall each month.

Cheers,

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]

Originally posted by MA_NSW:
Thanks Simon for your prompt response [thumbsup2]

>You will also be exempt from CGT for a 6 year period as long as you do not buy another home.

I am new to this investment idea so forgive me if my questions seems very stupid:

– Are you saying, I will get exempt from Capital Gain tax for 6 years for the current…[Read more]

This is a US tactic where mortgagee’s offload properties cheaply and authors write about it a lot.

In Australia the law requires that lenders sell properties for full market price. Generally they go to Auction. If advertised as a mortgagee sale you will find people such as yourself attending expecting to get a bargain. Sometimes you might but…[Read more]

I suspect you have already started.

Few people come here asking how to start that already own 5 properties!

Why not build on what you have? Factories get high yields, you know how to create, tenant and manage them so why not create some more?

How many would you need to cut your husbands work down to a level where he just needs to do as much or…[Read more]

There will be another boom.

Will you look back and wish you had retained the properties and slogged away at the repayments?

Will you be pleased that you had freed up the capital to invest elsewhere?

Noone can answer this but you.

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