I agree with the others.

I just say I am after yield and price isn’t such an issue if the returns are there. they are so used to people with smaller goals of a home or an IP.

I do usually give a range as we all know the higher yields are usually in a certain bracket but I also make it clear I can go higher if something special comes up.

In…[Read more]

If she is happy to finance you then you can get the ball rolling. She should be confident she understands any risk tho. She should speak to her accountant/solicitor before comitting any funds.

I would not let her be your guarantor. This will make her responsible for your actions.

Rather she should borrow enough to get you started against her…[Read more]

Mods – please don’t delete. I need admin to see this tomorrow.

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]

Michael,

If attitude was enough then you are there.

But it isn’t.

You either need a substantial deposit 20-30% or a demonstrable income stream to service the loans so as to use a conventional lender.

Can you continue to run your business with a partner? Would free up time. Also seems a shame to walk away from something so valuable.

Can it…[Read more]

Originally posted by Badgers_R_Us:
All you need to get on in Australia is half a brain and you’re guaranteed a job for life. Why, because most of the buggers out there are doing a half-assed job, if they are doing a job at all.

I am advertising for a receptionist. Of 30 applicants (most of which I would not trust to get off the toilet with…[Read more]

I really did meant to help – perhaps in whinge mode you were not reading as I meant it.

I apologise from the heart of my bottom.

I have this frustrating habit of trying to solve peoples problems and have only just learnt that some folks don’t want their problem solved, they just wish to vent. This is particularly true of women in general…[Read more]

Sorry mate – just trying to help and I get that in return.

I am just glad I didn’t apply for the job.

Good luck with attracting good people into your business.

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]

I don’t mean to be flippant here but maybe you are not attracting the best people to apply to work for you? You certainly don’t come accross as tolerant and friendly to employees [blush2], though I am sure your post, born of frustration, doesn’t reflect your outward attitude you display to your staff.

Lets work through this logically.

I suggest…[Read more]

Originally posted by bardon:
Post from another forum

Is the current prices decline temporary or not?

You are asking on an Australian Forum? I suspect you couldn’t find a market further from our experience [blush2]

Al lthe best,

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

Anita,

Did your Broker recommend Wizard? Wizard are a securitised lender so even if you are not paying LMI – you have increased your exposure to them. I doubt I would have chosen them for you but then I don’t know your situation at all.

If you don’t wish to offer up your PPOR to them (and they will take everything they can get from you) just…[Read more]

$50K is more than most people start off with.

Speak to someone like Richard to get some idea on borrowing power etc. It is based on several factors as he suggested.

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…[Read more]

Some of these groups genuinely add value and work hard to find really good properties. I have also heard that there are still companies – esp in NZ – who simply readvertise whatever the REA are listing to their clients and take a comission off both sides.

Mic from Australian House Hunters is a good guy. As is Jacque from…[Read more]

If council approves you can build whatever you want.

Depending on the block site costs can vary enormously and you may find that with too much slope the wrong way it is just not viable to build and sell profitably – or even rent them out compared to buying something built. Remember that building should be cheaper than buying something new as…[Read more]

I believe no but check with an accountant.

Some costs may be attributed against purchase of your first IP.

but again – speak to a professional.

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 samnash:
all good stuff to chew on, thanks guys.

My nuetrally geared investment house on the other hand gives me lots of cold hard cash each, and every week ,and the bank loves me for it.

So why sell it?

Maybe buy a few more. When you own $2M worth of IP’s $50K wont be an issue.

Just trying to get you thinking.

All…[Read more]

Why dont you fix the awful colours and try to get higher rent?

Then make your loan IO and direct all cash into your homeloan. Even run an LOC model where you use your credit card for all expenses imaginable then sweep it clean from the LOC monthly during the interest free period. This can work well and you may knock over a $50K loan fast.

A…[Read more]

If the demand is there you might even make money selling as a duplex block if your plan is to sell rather than building yourself.

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…[Read more]

WC beat me to it.

I would be thinking of calling both of them. Imagine what this guy would do to an older person or someone really vulnerable.

I would have proably called their bluff about taking your stuff to storage and called the police the second they tried to reenter the propery – but easy to say something like that sitting in my office on…[Read more]

As someone who has worked with a few investors for a while and even bought a the odd property myself let me offer some well intentioned advice.

Each week I get calls from new investors who have just discovered serviced apartments, retirement villas, studio apartments etc.

These are all difficult investments as you need a higher deposit and the…[Read more]

I think your Broker has either erred or is encouraging you to commit fraud.

If you are in a defacto relationship then the FHOG is used.

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…[Read more]