This argument exists as long as this site has.

I certainly wouldn’t knock you nor your strategy of buying cheaper homes with high yield.

Unfortunately at this stage of the cycle they are few and far between. I get calls every week from someone excited to discover a cashflow positive place in the cheaper end of Broken Hill, Mt Isa or elsewhere.…[Read more]

Originally posted by Kiwi-Fulla:
Originally posted by roslynnchalwell@yahoo.com:
I attended a meeting and also purchased a property thru them.

All I can say is do your own due diligence, check and double check the numbers.

I don’t know what they are teaching now but it was all about negatively gearing your portfolio in 2002 when we purchased…[Read more]

Originally posted by wealth4life:

Sorry Simon i don’t agree with you and you cannot understand how women think or act. I firmly believe that women process information differently – many women are happier with less while men struggle with their ego of out doing each other.

I have a wife and two daughters and I see the truth in your post every…[Read more]

You raise an interesting point. What do we consider success? My Grandma is thrilled with her war widows pension and seniors card but I would be less than thrilled to retire with that.

In other countries success is counted by having strong sons to support you as you age.

How do we measure success in investing? Some people may think we are…[Read more]

I suggest that you try some other lenders that aren’t as strict on serviceability – a good broker should be able to help you a lot here.

A LODOC is very similar – except you wont have to provide any evidence of employment. A simple declaration of income will suffice.

At this point some people and some brokers will suggest you declare a high…[Read more]

Jess,

A LOC id as easy or hard to set up as your original loan.

The easiest and cheapest thing to do would be to approach your original lender for the LOC. Either direct or thru a broker.

All the best

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

Comments may…[Read more]

Yes they are like a credit card where interest is paid on the amount drawn.

And like a credit card people misuse them to fund their lifestyle buying a 4wd and a big screen telly….

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…[Read more]

Welcome mate. Where are you from? Looking forward to seeing some great posts from you!

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

I think I better have a beer.

My point was purely about how flawed it was to apply a population statistic to a group of like minded individuals as if they were representative of the whole community.

Stats can prove anything… There is a direct correlation between ice cream consumption figures and cases of sunburn my medical wife tells me…[Read more]

Originally posted by Dazzling:
Some of the wily old Greek and Italian gentlemen I bump into occassionally out in the industrial back blocks certainly fit that mold you describe Simon.

They can’t speak very good English, they cannot read or write, they don’t own a computer and have never “surfed the internet”.

Yet, when it comes to savvy property…[Read more]

Originally posted by mcdeyess:
Have you thought about shares? The current commodities boom is going well thanks to our friends in China [biggrin]

A lot of money has recently moved from property into the share market. There is some speculation that the current share boom is almost done whilst others believe it has another year or two in…[Read more]

Do you find the thought that money and investing must be written about differently for women a bit condescending?

Is it a shameless money making effort by linking the Kiyosaki name to another book? Rich Mum Poor Mum? or Mom I guess…

Here it…[Read more]

Originally posted by wealth4life:
I just re-read Robert Kiyosaki’s Rich Dad Poor Dad book again for the xxx time, just love it – any way he talks about the 95% v’s the 5% of people who just won’t make it.

Do you believe that he is right because if he is only 5% of people on this site are actual investors and my caculations make that 2100 people…[Read more]

Sounds like a straightforward situation. As long as all the variables are fine I am sure most brokers would be able to help. You really should speak to one directly with details of your income, deposit and the project to see for sure.

All the best

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

Originally posted by wealth4life:
any body here delt with a broker who gives money back from the up front commission – this will scare other brokers i’m sure!!

D

They have been around for a while now and some have lasted a while.

Remember that they need to do 3-4 times the business for the same income. Who would you prefer to be looking after…[Read more]

Put all of your income into the offset. Use a credit card to pay all costs of living and bills where poss.

Sweep funds from the offset onto the card each month to clear it.

Start a budget so that your savings accrues in the offset.

I suggest you use a lender that gives you a free offset on a lower interest rate.

Check out the Westpac Premier…[Read more]

What sort of renos did you do to achieve that?

I am sure many people here will be interested.

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

Why dont you get a standard variable with an offset?

Offsets are great vehicles but unless you know where you are going they are not much use.

Can you provide more advice as to your situation and what you wish to achieve.

Cheers,

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

I know people who have built up a huge asset through the IC. If you are an expert then go alone. If you need your hand held and can afford to pay a little for it then the IC is above board.

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]

I haven’t used them myself but if you are time poor they may be just the ticket. I believe they are for real.

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…[Read more]