Grant didn’t exist back when you were a first home buyer.

You are no longer a First Home Buyer so no entitlement.

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]

The financial planner is itching to invest it for you to get his 4% comission and annual fee for managing it.

If you feel managed funds are the way ahead then do your own research and buy them through a discount broker. You will then get $100K worth of funds instead of $96K worth.

http://www.morningstar.com.au is a place to start.

Shares (either…[Read more]

Is it a purpose built student Facility or a converted house?

If the latter then normal residential loans apply but the former is generally treated differently.

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.…[Read more]

Originally posted by ginnybear:

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.

Cool – we get someone new in here every week promoting some Eastern European website selling investment properties. Add this to a member with one post to his name and you can see why my spidey sense started tingling.

Going down this path entails a much higher risk profile than investing in normal Australian residential property.

Combine Gold…[Read more]

Sounds like you work for the website Dave?

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.

I would be very very cautious about getting involved with this sort of deal.

Your sister may well be best off cutting her losses and taking whatever lump sum is left after the sale of her home and use it to start again.

She needs to avoid going bankrupt if she wants to buy again tho.

If she is desperate to keep her place then have her call a…[Read more]

Originally posted by andymitchell:
Hi Derek – the OSR said that for the buyout I would propose (we own 250K each, so I would buy about 200K from her?) would be $9000 + $.450 for every $100 on top of that! – so about $18K??!!

Cant understand that – thats the same duty you would pay on a 500K purchase?!!

I think it should be half that as well.…[Read more]

Chelley,

You need to share the love around several banks. Using a broker who understands the different serviceability models used by each lender should help an awful lot.

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…[Read more]

Where are you Basil?

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.

Call Nick Moustacas at http://www.strategicwealthmanagement.com.au and see if he has any ideas.

Tell him I sent 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,…[Read more]

I am pretty sure you need to realise the loss but there may be a way around it by transferring title within family or trusts. You may occur SD as well.

Please speak to your accountant.

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]

Don’t get me wong – I am not being negative for the sake of it.

I get calls from folks each week telling me they have discovered a great property in some remote tiny spot or even larger spot like Broken Hill or Mt Isa etc.

At the end of the day you need to concentrate on two things.

Will the property continue to rent easily. Even if there is a…[Read more]

Anyone can find deals with numbers but please tell us why you think it is great Phil?

You haven’t even advised the rental?

and I am assuming that this isn’t a thinly veiled ad for a property you are selling……..

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

The transaction needs to be at arms length. If the property is transferred at anything other than full market value then you pay duty on the market value.

You may still get the FHOG depending on when you got your IPs.

They may avoid CGT depending on when they built the property too.

Best to see an accountant mate.

If you bought it for $5000…[Read more]

Originally posted by lisabellan:
We subdivided a block my mum owned and put the new block in my name and I had to pay stamp duty at the amount the valuer general valued the block at the time of title transfer. Love and affection unfortunately had nothing to do with anything with our family transfer. we live in Rockingham WA.

I think the…[Read more]

Originally posted by fernfurn:
Just a thought, (read carefully) – if you are seperated and buying the other partner out, you dont have to pay stamp duty

Fern

Or the No More Love and Affection Policy?

Anyway Andy – call these guys and find out for sure exactly where you stand.

General duty enquiries
For conveyances, mortgages, contracts and…[Read more]

No. You may even get a stamp duty exemption and the FHOG if this is your first home.

They may have to pay CGT if the transfer value is deemed to have realised a capital gain and should seek advice from an accountant.

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

Your managing agent should be handling all of this for you. Give them a call for the next step they are taking.

Good luck

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]

Outside of my experience level.

Are these properties easily sold? Wil lthey go up in value?

Sounds like you need to buy a lot to make a decent income – lot of work.

Not for me mate but I wouldn’t even dream of commenting on it.

Cheers,

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