Hi Amy,

Finance wise you are pretty well nearly there to buy something in this range. Just a little more for fees will see you done.

You are at an age where property is a great investment. Plenty of us older folk wish we had started at 24 or younger.

Please post any questions you have but right now you need to research, research and research…[Read more]

You can buy one right now with a NODOC loan at 7.1%.

However with a FULLDOC product I would need further info to ascertain your borrowing ability.

This isn’t too much help and I suggest you speak to someone in my profession to get the numbers run for you.

Cheers,

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

How is the unit negative geared if you live in it.

Prices are pretty stable at the moment however many people agree they will rise again. With cycles averaging 7-10 years we may see movement in 5 years or so.

Factor in selling costs and buying costs and decide whether it is better to keep it for the next growth period. This is probably what I…[Read more]

Exactly the same.

http://www.dtf.wa.gov.au/cms/osr_content.asp?id=379

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…[Read more]

Derek is spot on as usual.

Holiday syndrome is a well known investment mistake with people buying all sorts of investments usually on the coast.

Whilst buying on the coast is not the error – it is the emotions associated with the fun holiday etc that lead some to make an ill thought out and poorly researched buy.

Yimeshare pushers used this to…[Read more]

Tools is right.

Unless of course he is going to build an IP on the land in the near future.

A broker shouldn’t be advising people to make decisions on whether to move out of their PPOR and rent it etc. Is he a licensed financial advisor? I bet not.

Change brokers immediately.

One idea might be for your friend to borrow against his home to…[Read more]

Time to finish up on this thread.

You guys are both successful at what you do and there is really no benefit gained by anyone to watch you two lock horns publicly.

You both have the other’s email addresses so take it as far as you like offline.

All the best to you both.

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

From what I have heard I believe it is deductible. Perhaps you need a more up to date accountant.

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]

I believe that Wizard loans are fully securitised which means exposure to LMI regardless of LVR.

This may be an issue further down the track when LMI knocks you back because too much exposure. Depending on how big your portfolio is planned to become – this may or may not be an issue.

You should compare – they are not the cheapest and not the…[Read more]

Originally posted by calvin@thirty4:
Marisa,
I was going to suggest the local Fire Brigade or Vollies might do the same.
Perhaps inviting the neighbour to a BBQ (on you) to discuss the situation might solve the issue?!
My old man is not the easiest person to get along with (ask any-one who knows him), but he used to just yell back at people “..…[Read more]

You are right the ATO will disallow any deduction made on money used to buy a home. Even if borrowed against an IP.

Perhaps you can transfer title to your partner and she can borrow to buy it from you. She now has a loan for an IP in Sydney which is deductible and you have a pocketful of cash to buy a home with.

Just floating one idea here -…[Read more]

$130K apartments getting $300pw rent?

How many of them can you afford to buy and hold for 20 years! Talk about positive cashflow!

[biggrin][biggrin][biggrin]

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 suggest you do some searches as this has been discussed many times before.

Sphisticated investors tend to choose the IO model as it allows more cashflow and flexibility. Even with IO you can make principal repayments if you choose. These are most effectively directed into an offset account rather than off the loan.

Similarly many people…[Read more]

Welcome Sarah,

You are off to a great start – using a MF or a term deposit is great as it keeps your savings out of reach should you see that doodad that you just have to have!

Check out http://www.invested.com.au

You can read the posts for free but to post yourself or read the articles you need to be a paid up member.

All the best

Simon…[Read more]

McBrokers I call them….

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.

In NSW offers are verbal and nothing is binding util contracts are exchanged.

Makes it quite easy.

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]

Originally posted by grossrealisation:
hi simon
A guy got into court here for swearing and you must learn to bite your lip with new investors and don’t be so hard on dazzling.

Two points.

1. That guy got off.

2. What court would blame anyone for swearing at Dazzling?

Cheers [biggrin]

Simon Macks
Residential and Commercial Finance…[Read more]

Huh?

He just agreed and wished him 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, financial or taxation decision you should consult a professional adviser.

Companies are rarely the best choice. If you wish a structure other than direct ownership you should speak to your accountant. Ask about Hybrid Discretionary Trusts.

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]

Originally posted by Dazzling:
Whatsa RIP ??? [biggrin]

It is your bloody acronym for resi IP!

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]