My gut feeling is bad investment.

These cannot be highly geared and will need a lot of equity. They will slow you down.

Don’t be seduced by the high yield. These type of things need to be sold on a high yield to make them even marginally attractive.

My advice is stick to middle class housing…..

All the best

Simon Macks
Residential and…[Read more]

Returns look good until one considers insurances.

Childers led to a huge premium increase across the industry.

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,…[Read more]

Why such a high legal cost?

Is it a regular house or apartment?

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 decision you should consult a…[Read more]

I doubt you will get a more attractive variable rate than 6.62% – not significantly better enough to warrant the costs of refinancing.

I tend to prefer variable. I believe that over time the banks usually win on the fixed rates. But your situation is different and I can see you welcoming the certainty that a three year fixed loan will give…[Read more]

Originally posted by Blakeb:
Do you have any other properties or assets that could be used as security??

blakeb@hqfs.com.au
HQ Homeloans
Mob: 0402 BROKER

Blake,

Read Andy’s earlier posts to see where this is from. You seem to have come in on the end. Just to answer your immediate query there are no other properties involved or available.…[Read more]

Every week I get calls and emails from people who have “discovered” a new type of investment property. Hotel rooms, retirement homes, student rental buildings, strata storage units etc etc

Bottom line is that these properties are hard to finance and can only be geared to 60 or 70%.

They will end up slowing down your portfolio growth.

Standard…[Read more]

Try not to refinance – new lenders will need a valuation.

Costs of refinancing may void any savings you might get.

Speak to your banker and tel lhim you are looking to refinance to chase a better rate, unless they can give you a good enough rate to stay? I recently cut 0.5% off my margin loan with one email saying just that.

Cheers,

Simon…[Read more]

An Australian site would be more useful spam.

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 Dazzling:
No, never…..but then I’ve never bought anything at auction.

I don’t think the original question was about an auction.

That leads onto a valid point though. An Auction is an unconditional sale. If buying at auction you should have these checks done beforehand.

Cheers,

Simon Macks
Residential and Commercial…[Read more]

No. You can do all of that after you have settled on a price.

If problems are identified you can pull out or attempt to negotiate a lower price.

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]

[/quote]

I don’t think I could get a loan in my name only (or my wife’s) due to income restrictions and existing joint debt.
[/quote]

Mike,

You better speak to a broker and find out for sure. Be a shame to let an assumption hold you back [biggrin]

I personally don’t believe xcoll to be such a bad thing for most people. But that is just…[Read more]

Pest and building is one of those areas where the expert must be local. I am afraid I cannot help with that area.

I do have a super QS tho.

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]

Lee,

I am sure he is great.

Please don’t feel you need to support any of us brokers here just because we post a lot. That isn’t why I do it.

I meant my post against McBrokers in general only. There are some wonderful individuals in every organisation.

thanks for the referral – good brokers are hard to find these days.

Cheers,

Simon…[Read more]

Originally posted by Derek:
Simon,

Well written – do I have your permission to give a copy of this to my wife and two daughters?

Derek
derekjones1@bigpond.com
http://www.pis.theinvestorsclub.com.au
0409 882 958
Skype – derekjones2113

Course you can Derek.

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

Either of these guys will do a sterling job for you.

Be careful with those big franchises. There are some great brokers working there but you are also likely to be allocated the new guy…. McBrokers I call them [biggrin]

They share much of their comissions meaning they need to do more loans than us smaller operators – you may end up being…[Read more]

Why do you think they are your only choices?

Sounds like either option is unattractive so why not consider option 3?

Sell the land and buy something that improves your current situation.

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…[Read more]

Stephen,

You might be better off spamming a US based site.

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 decision you should consult a…[Read more]

He can complete the FHOG application and submit it with his loan application in order to have it for settlement.

He can submit it to the OSR after settlement and receive the funds directly himself.

Cheers,

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

Comments may…[Read more]

Of course you cannot refuse to rent to a smoker.

You may state that smoking is not permitted in the house but how on earth can you police something like this.

I think if this is a big issue to you then perhaps direct property investment might ot suit you.

Your rental properties will end up with wear and tear regardless of whether or not people…[Read more]

During the boom people made money just by holding a long term contract on an OTP place.

Some investors were left holding the baby and now have to settle at inflated prices.

Be very careful and make sure you get an independent val if you pursue this path.

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