I would suggest IO with an Offset.

This allows you to “pay down” the loan into the offset thus creating a deposit for the next property along with CG. CG can be speeded up by adding value and by using a lender that actively seeks favourable valuations in order to win your best loan – most brokers will have a lender like this up their…[Read more]

Your rates will be higher if you split.

However your vals will be higher thus equity higher too.

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…[Read more]

The yaffect it in a negative way.

Would you buy it as your home? Would you pay the same as another identical home further from the noise?

Remember that if you buy it that you need to negotiate appropriately – you will find people doing the same with you when you decide to sell.

I have heard that proximity to transport is seen as a positive by…[Read more]

I got to try that one.

The other day I told an Indian call centre worker I had to go as one of the kangaroos was fighting my platypus in the bathroom – nowhere near as funny as your effort!

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]

You can always negotiate – especially in this market where so few have been sold!

If the Agent wont allow it – speak to his licensee or the developer direct.

Of course the developer may well say no – but yopu are still allowed to make your offer!

All the best,

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

Phil,

Are you suggesting this person refinances an IP to buy a PPOR and claim the refinanced amount on tax?

The purpose of the loan determines the deductibility. If the loan is to buy a PPOR then it is not deductible regardless of what it is borrowed against.

This is so wrong and I quite frankly expect better from you. Or is this someone…[Read more]

Sometimes they just whip out a grinder and take the difference off so there is no longer a tripping hazard. I guess that would be the cheapest option.

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…[Read more]

If I went on holiday and locked up my place who would suggest it wasn’t my home still?

I think this warrants a phonecall to the relevant authority rather than just speculation.

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]

Originally posted by thomasp:
Hi Zaksta,
But, buy your house before you leave, get the FHOG and then get someone in to rent it out.

Don’t forget to factor in living in the house for 6 months to qualify to keep the FHOG.

Although if you kept your stuff there whilst OS with no rent you may still call it home? I don’t know where you stand…[Read more]

Originally posted by nathan210:
Hi Simon,

If Zaksta has already purchased an IP, is it still possible for them to claim the FHOG?

I too have purchased an IP only (1st property purchae) about 18 months ago and would be very interested in learning about the ability to claim the FHOG, as we are ready to buy another property…..

We too purchased…[Read more]

These are harder to finance and less liquid than normal residential property.

Do you think it will be a good prospect for CG?

I personally wouldn’t consider a property like this for my portfolio – I think there might be better buying in Tasmania for that money.

All the best,

Simon Macks
Residential and Commercial Finance Broker
***NODOC @…[Read more]

I think the location and thus potential for CG is key here.

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]

The Act is quite specific.

IPs purchased after Jul 2000 do not preclude you from getting the FHOG for your first home. As long as you never occupies those IPs.

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]

Stop putting every cent into this IP imediately.

Convert the loan to IO if possible and pay the minimum.

In the meantime save every cent you can in an offset account or in a high interest online account in the lowest earners name.

Why?

If you pay down a substantial amount on the IP loan then buy your home you will be in the unfortunate…[Read more]

If I understand what you are saying then I think the answer is yes. However you cannot claim any capitalised interest.

So you are suggesting that you let your IP LOC pay for all expenses (less interest) to do with the property and funnel all other income into your PPOR? This is possible.

I would suggest you use an offset account if you have…[Read more]

Come on Resiwealth – even I know that medium density costs significantly more than houses per sqm!

A duplex might have the same floor size as a large house but you are factoring in two kitchens, four bathrooms, two garages, two pergolas, etc etc

I think the gibe about commissions was a little below the belt as well.

Simon Macks
Residential…[Read more]

Appreciate those points Tony.

Certainly need to be considered and perhaps I should build and hold. Will chat with my accountant and see what she can do for me.

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]

I wish I was joining you. My dream is to spend a couple of months backpacking the subcontinent.

Family committments see this being postponed for at least the foreseeable future.

Have a great time mate

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

Comments may not…[Read more]

New students arrive with a suitcase – esp OS ones.

I furnish mine right down to desk lamps and teatowels.

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…[Read more]

New students arrive with a suitcase.

I furnish mine right down to desk lamps and teatowels.

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]