Subdivision and strata are two different things. Sometimes they can both be used to solve a problem othertimes only one or the other.

A subdivision involves splitting land into two or more parcels where a strata leaves the land on one title and creates additional ownership titles of the building only.

You really need to discuss this particular…[Read more]

Frank,

Strata is a type of title. A normal house on a block is Torrens title. If you build a four unit dwelling and sell the units to four people they would each own one. What they actually own is a strata titled unit and this means everything inside their unit. The building exterior and grounds belong to the Owners corporation and each owner…[Read more]

Originally posted by Spanky:
If you’re going to read a book that will give you a very simple, yet effective explanation of the basics of wealth creation, you can’t go past “The Richest Man In Babylon” by George S. Clason.

I agree. The best investment you can make is $14 at your local bookshop and buy this classic.

Simon Macks
Residential and…[Read more]

That is certainly a strategy but you will not be able to use this rent to qualify for your loan.

REAs do quite a lot when managing a property – sometimes they are only really appreciated when things don’t go smoothly.

But in the case of you taking in lodgers to help pay the mortgage I would think you wont need one.

Cheers,

Simon…[Read more]

Originally posted by daveaustin:
I was just reading how xenia doesn’t agree with Jamie McIntyre’s investment strategies. Fair enough but I have studied all of the strategies he uses and they are all viable strategies listed on the ASX website and in fact most savvy fund managers use derivatives, ie covered calls in their portfolio’s. I have…[Read more]

Frank,

You have a lot to learn before you contemplate doing a development. Here is some info for NSW but the concept is the same whatever state you are in.

STRATA TITLE

Horizontal Subdivision

Strata title is also part of the Torrens title system. It permits the horizontal subdivision of land into separate titles for separate…[Read more]

Your solicitor should be able to advise you how it should appear in your contract.

For every $100K the property costs you are up for $36.50. This is effectively halved as the 7% your lender charges pa is saved for that day.

Chalk it up to experience, send a letter to your bank manager asking them to pay (bet they don’t) . Just don’t lose sleep…[Read more]

Originally posted by mentee:
Hi All,

1. Would you do it in this period of time?? (if you are me) or wait till ….?
2. How much rental can i expect from the tenants in this area? how do you calculate the negative gearing??
3. Or save up a bit more for yarraville/seddon area ?
Thanks in advance for all replies, any suggestion is greatly…[Read more]

No.

Nothing is concrete until contracts are signed and exchanged. At least in NSW that is. I am pretty sure that a verbal offer is not binding in any state.

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…[Read more]

Yes.

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

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 making any investment, financial or taxation…[Read more]

Originally posted by celeste:
Hi all

I just want to add something to this, I purchase apartments reno them and re sell. I just sold one and the buyers were after finance for around 90% they were needing the FHOG also, they got knocked back because the property was under 50 sq meters.
Now I did not get the full story so I do not know if it was a…[Read more]

Originally posted by DraconisV:
hmm.

I’ve been hearing about this word ‘settlement’ a dam lot and theres like settlement periods of like 30days,6 months whatever. What does that really mean??(completely). And can it have anything to do with the FHOG.

Christopher.

Settlement is the period between you agreeing to buy a property and actually…[Read more]

Certainly not a seller’s market for Melbourne units at the moment. Does your friend understand this?

I am aware of vendors selling new apartments in Melbourne and having them available for sale for moths with few offers and none near asking price.

I wouldn’t be putting too much effort into a Jenman Agent – most Agents are decent people and Neil…[Read more]

Its a good product however high rate and high LMI.

something to think about.

What makes it good? I think that rate, fees and LMI are pretty critical and most other considerations come second place after those?

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

There is not that much detail to them – just ask me or any broker. Spend your time researching the important stuff. The type of loan is not a war winner. Focus on what and where rather than how. Let your broker earn his mony doing that for you.

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

Terry,

this is a problem even when using different lenders if the mortgage Insurer has sen the application before. Thats why it is good to have LODOCS with both insurers on your panel.

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…[Read more]

Originally posted by mathewc73:
Dont want to put a dampner on this, but the way I understand it the credit card is not the vehicle to save the money. It just defers 1 month of interest in the credit card balance.

Eg if you spend:
Jan 1000
Feb 1000
Mar 1000

You could pay directly from your LOC, or put on the card.

If on the card, you LOC will…[Read more]

Originally posted by Zorge:
I have an IDEA

Lets organise a Credit Card borrowing club.
1. Club will have 10 credit cards 20 000 each

200 000 all together.
A person can borrow this money for 55 days – interest free period and return them back at the end of the period. Club will take comission of 30-50% of saved money.…[Read more]

Me too – I am looking for my next buy atm in that area.

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 making any investment, financial or taxation decision you should consult a professional adviser.

Originally posted by lyndon_g:
Hi Shrimpo,

If you were to receive your first home owners grant, you need to live in your home for 6 months, within the first 12 months of owning the home. there are further details at http://www.firsthome.gov.au/

Hope this helps.

Cheers
Lyndon

Almost – just to explain it a bit tighter is that the 6 months…[Read more]