It refers to a refinance of a property from another lender. This is the plum business – no purchasing involved and a repayment history is available. It also brings in new business cheaply.

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]

Originally posted by Ko_starr:
Thanx mate. so stick with PI?

Did you understand my post?

I have no idea of your situation so cannot advise. Perhaps your accountant can help make a decision.

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]

I am thinking that Phil wasn’t advertising for partners here but merely asking for advice on whether and how to do it.

Of course we cannot allow advertising here and if I thought he was doing so his post would be edited or deleted.

Cheers,

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

I am thinking that Phil wasn’t advertising for partners here but merely asking for advice on whether and how to do it.

Of course we cannot allow advertising here and if I thought he was doing so his post would be edited or deleted.

Cheers,

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

Derek is our resident expert and will no doubt reply once his spider sense starts tingling…

From my perspective I think that TIC is a mature company that applies a formula to help people amass a property portfolio.

No doubt some individuals can do it better but for the average person who would enjoy some guidance and peace of mind then TIC is…[Read more]

I would be careful selling a half share. If you end up sharing a mortgage then most lenders will still consider you liable for the whole debt. Lots of other problems with shared ownership too.

Your neg geared places will be pos one day. Factor in all the selling costs and the stamp duty to buy the next place when you make your decision.

What…[Read more]

If you have any nondeductible debt (home loan, car loan etc) then your IP loan should be IO. This means you can commit all principal repayments to kill the nondeductible debt.

If this is your only debt it is not so important. I would still consider IO if you plan on buying multiple properties to build deposits and preserve cashflow.

If you are…[Read more]

Karen,

Normally mortgages here are based on your income which includes rental income if buying IPs.

If you have a higher deposit this can be waived with a loan purely lent against the asset with no income/employment required. Typically a 30% deposit is needed here.

You need to speak to a broker to get some detailed guidance on the different…[Read more]

Sounds right.

Your rent is the income.

You can deduct noncapital expenses such as interest on funds borrow to buy that property, repairs etc.

Just like an IP – well as soon as you rent it is is an IP with a 6 year CGT exemption under specific circumstances.

Cheers,

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

Originally posted by brent2:
http://finance.news.com.au/story/0,10166,18038015-462,00.html

You shoule be fine now, once one of the banks start doing this, then all of them will.

Regards

Brent2[biggrin]

these loans have been around a while but it is still a niche that few lenders seem interested in exploiting. SGB self insure and I think the…[Read more]

Al ltrue enough but I recently found out why 10% is often insisted upon by the solicitors.

Seems that 10% is typically a figure that covers all expenses and penalties if you default on settlement. The solicitor likes to have that in the trust account so if the worst eventuated they don’t need to chase you for it.

Of course a lower deposit is…[Read more]

Originally posted by Dr.X:
sorry but anyone dumb enough to fall for this deserves to get scammed.

How Pathetic!

We buy properties in Adelaide. No Agent Fees.
xenia@creativerealestatesolutions.com.au
INCREASE THE CASH FLOW FROM YOUR INVESTMENT PROPERTIES!
http://www.renttoownau.com/ http://www.vendorfinanceau.com/

I disagree. They ask for no…[Read more]

The options you describe all have significant lifestyle impacts.

Do you prefer to reno and move often? I know with a young family this wouldn’t be my choice.

Do you want the lifestyle of an onsite landlord? I wouldn’t but wouldn’t knock anyone else doing it.

So you need to understand that what we would do is meaningless.

I would tend towards…[Read more]

Originally posted by Wylie:
My understanding is that if they are on a lease, you cannot ask for vacant possession. However, if you go ahead and purchase and they fall behind in their rent, you can give them notice.

Going by what you have written, I’d go ahead and buy it. Keep taking the current rent until the leases end (make sure you give them…[Read more]

Of course you can buy it subject to vacant possession.

You can also select the tenants you choose as long as you don’t discriminate. This is nothing to worry about anyway – just quietly tell the PM that you don’t wish to rent it to them.

All the best

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

Originally posted by leewizza:

By buying an investment first before your own home you wont get the FHOG either.
Best of luck again…. [smiling]

“Practise doesn’t make perfect. Perfect practise make perfect”.

Lee

This isn’t true.

Buying an IP doesn’t stop you getting the FHOG for a subsequent home purchase. Just don’t live in the IP for…[Read more]

Some of my clients prefer the NODOC loan to 70%.

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 professional adviser.

When you have read it please write us a couple of para’s on what you thought of it and what impact it has on your plans.

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]

Redwing – can you explain the Offset Gearing Strategy for us?

Thanks

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]

What is there to monitor? Is a piece of water surrounded by a jetty on three sides and managed by the marina?

Do you own it freehold?

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]