Nick Moustacas at Strategic Wealth management

http://www.strategicwealthmanagement.com.au/e2Content.asp?Request=AboutUs.AboutUs

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…[Read more]

Originally posted by Ajax:
What about not selling…and drawing funds out (80% of property value) by way of lo doc loan.

Ajax

LODOC is not the only option.

Clients of mine have their properties revalued whenever the market is strong and have their LOC topped up to 80%. They may not use it but it is a way to lock in value at the peak of the…[Read more]

West – there is no timeframe stipulated.

Mark – West means to make it your home. This may not work if you already own a home.

If you keep the property for 12 months or more you will have a 50% reduction in any CGT due on sale. Remember to retain all reciepts as these come straight off the profit!

Cheers,

Simon Macks
Finance…[Read more]

If your goal is to buy and hold for 15 years you should be confident of seeing at least one cycle.

I have a similar goal and am buy and holding with the intention of CG for my old age.

I will lock in rises by upping my LOC and ignore falls.

Cheers,

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

Comments may not be…[Read more]

Verbal offers are OK in NSW. The acceptance is worthless as “done deal” until contracts are exchanged though. This can usually take another week.

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…[Read more]

This is really only the case where the loan is above 80% of the purchase price.

There is a lot of flexibility between lenders. Speak to a mortgage broker about your situation and see what is available for you.

Cheers,

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

Comments may not be relevant to individual circumstances.…[Read more]

Originally posted by muli:
ok, i see.

Also, with a LOC i’m told your money is “always working for you”

i.e. you get paid say $5000 for the month into it ALL of this is then reducing the loan. Obvisouly you take bit by bit out for bills etc.. But the interest is calculated daily.

But with the offset, you have to put money into the offset…[Read more]

Allan is in NSW – anyone have a help number here?

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.

Yes you can, however you can only access your funds accumulated in the offset – it won’t be an approved credit facility like the LOC.

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…[Read more]

Great post and great reply Surrey.

I have found that it is often best to have money friends and non money friends with whom things are discussed.

I have also noticed that as people become more successful they will start surrounding themselves with like minded people and avoid those that bring them down.

It is hard, I don’t wish to suggest you…[Read more]

Not in Melbourne – mine are all in Sydney.

I think Mobile Mortgage is out your way – why don’t you drop him an email and see if he has 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 taxation decision…[Read more]

I personally would use an IO loan with offset.

This is my reason. Often first homes are soon outgrown. People either sell and buy an new home or, increasingly more popular, people keep the old home as an IP and buy a new home.

Should you decide on the latter the loan for the original home is now tax deductible as it is an income producing…[Read more]

Allan,

There are two issues here and you should seperate them in your mind at this stage.

The real tragedy and the one you need to focus on is your father’s death. This is a time for grieving and spending time with the family.

The will is an administrative issue that can be dealt with a little later on. I have no experience in this matters…[Read more]

Scorge,

Your loan repayments on your margin lending will reduce your serviceability.

Depending on all the figures this may have no affect or it may be a deal breaker.

You should contact a broker and let him know your plans and figures and see how it pans out.

I have a margin loan and mortgages so it is certainly doable.

Cheers,

Simon…[Read more]

Absolutely not.

If xcoll and one is sold then some of the proceeds might be required to bring the existing LVR down to 80% or below.

It isn’t the evil many make out but it can make a bit of extra work at some point.

Please don’t worry too much.

Cheers,

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

Comments may not be…[Read more]

That is correct but I don’t believe it is the only method available.

I will check it tomorrow.

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 professional adviser.

Is what my accountant advises.

I am talking a registered valuation – not a dodgy Real Estate Appraisal.

Anyone know differently?

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]

A company is usually NOT the best structure.

See an accountant and ask about trusts, ensure you find one that is experienced in this area. I can give you several if you need one.

There are all sorts of different types of trusts.

A bookkeeper is fantastic at keeping books but probably not the best choice for structure advice.

Cheers,

Simon…[Read more]

It is very common today.

Rates are not really much more than normal lending nowadays.

I suggest, if you are considering this, you speak to a broker and see if it is what you really need.

Cheers,

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

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

Keep in mind that you will lose the CGT exemption if you rent the place out.

If you do rent it out I would have a valuation done which will lock in your CG so far and you can still claim the exemption on that portion.

You can also use the equity to buy two IP’s if youy wish without moving out subject to serviceability and purchase price.

Speak…[Read more]