Megan,

This differs in each state – I would recommend seeking professional advice.

Cheers,

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

Take a look at what the property cycle is doing atm. I would suggest that there is no real rush to start buying and would bear that in mind when making your decision.

I am not a Uni graduate but am putting my wife through her latest (and hopefully) last degree and I do see the value of tertiary education.

It is a difficult decision – also have…[Read more]

I am also wondering if they meant strata title. Company title is not as popular today and I would be surprised if there are new company title projects being done.

I may well be wrong though.

I am currently in Randwick and Coogee and impressed with the area!

All the best,

Simon Macks
Residential and Commercial Finance…[Read more]

Are you looking for a lender or a broker?

I am based in NSW if that helps,

Cheers,

Simon Macks
Residential and Commercial Finance Broker
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.

Dave,

Thats the hard part! Expect to have very few clients for the first year or so – it is only after you have thrilled clients referring you to others that the snowball starts rolling.

Advertising doesn’t seem very useful either. Is just a matter of networking, networking and networking!

Cheers,

Simon Macks
Residential and Commercial…[Read more]

I handle my own applications for finance. But as Rob said we don’t approve anything ourselves so no conflict of interest.

I am curious as to why you ask?

Cheers,

Simon Macks
Residential and Commercial Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any…[Read more]

Wow people are making it all sound so dramatic.

I had a similar problem.

But after I bought one property and she saw that we weren’t destitute, in fact were better off she got more interested.

She still sees it as my thing but enjoys coming along to look at places.

He lack of excitement is a great counterbalance to my enthusiasm. In fact she…[Read more]

What if a skilled agent with plenty of developer contacts can get a significantly better price than a person who has never sold before and whose aim is to save money?

Perhaps you might get your money’s worth from an agent?

Just some food for thought.

Cheers,

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not…[Read more]

Do you expect this property will keep rising in value?

Can you afford to hold it?

If you sell it and see in say, another 5 years, that it is worth another $100K extra how will you feel?

Noone can give you advice on what to do. We can point out things to consider but at the end of the day it is your call.

Cheers,

Simon Macks
Finance…[Read more]

I have been successful using NODOC loans for people in this situation but the deposit needs to be 35% +.

Depending on the situation there may be other solutions.

You should speak to a broker in some detail and see what he/she suggests.

Cheers,

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to…[Read more]

Ron,

To start with I would be suggesting you consider looking at 3-4 bedroom middle class homes. These have always been the mainstay of most portfolios and the least risky in poor markets.

Once you get some miles up you will be able to assess the more unusual investments.

I would not be considering serviced or hotel apartments – you have…[Read more]

The Banking Ombudsman is the third party you describe.

I would speak to their office and see what they suggest.

Cheers,

Simon Macks
Finance Broker
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]

Why don’t you start at the beginning and consider a spec home?

Can either hold it to secure the next project or sell it on completion to fund the next one.

Cheers,

Simon Macks
Finance Broker
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]

Only way around it is to actually sell the property to another entity (a spouse, trust etc) and refinance it 100% plus costs. You then have a larger deductible loan.

You shouldn’t have to pay CGT if it was always your PPOR but there will be stamp duty and legals incurred.

Make sure you get some good advice from a professional.

Cheers,

Simon…[Read more]

Jeff

That is a very practical solution and easily implemented.

Without knowing more of your situation and goals it is hard to go into any more depth. I would suggest you sit down qwith a reputable mortgage broker and go through it all in more detail.

All the best,

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments…[Read more]

Coops

That is it.

The major Pro is that is retains the original loan amount if the funds are used. This will be significant if the loan is deductible and you wish to use funds for personal debt- the original loan is untouched and may still be claimed.

A quick explanation but you will find a lot of stuff on it if you do a…[Read more]

It is fraud and by doing this you will be a criminal.

Even if you never get found you will need to live with what you have done.

You will also lose the CGT benefit of the home.

I am locking this topic – this forum doesn’t exist to provide an avenue to discuss ways and means to defraud the Commonwealth.

Simon Macks
Finance…[Read more]

Generally some sort of a trust is used if a structure other than your name is planned.

Many people start buying as individuals then consider structures like trusts later on. This usually means the first properties stay in their own name as costs to move can be prohibitive.

Cheers,

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425…[Read more]

http://www.allhomes.com.au

Simon Macks
Finance Broker
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.

If tyhe UK money is in an account in your name then it counts as savings – you don’t need to show a savings pattern just that you have owned the money for three plus months.

If you advise your location I may be able to suggest a reliable local broker?

Cheers,

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may…[Read more]