Typically residential is where most people start. It is thought to be cheaper to enter with lower deposits and less risky.

$40K is a substantial deposit. Your limitation to buying a decent residential property will be your serviceability or income. It will also depend on the location. You will obviously get something very different in Sydney…[Read more]

You might as well borrow it using the PPOR as security – it will keep your records tidier.

Any profit you make on the IP should go into the PPOR (or an offset if the PPOR is not a forever PPOR).

Then borrow 100%+ for the new IP.

Check all this with your accountant though.

Cheers,

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228…[Read more]

I think that you might find either of these suggestions to be illegal. If the case goes to the tribunal you will have no legs to stand on.

I think applying the letter of the law is the way to go. This is where a good PM is worth their weight in gold!

Sometimes saving money on PM can end up costing you a fortune when you really need them – bit…[Read more]

I have tidied it a bit – might be better to delete the whole thread I think.

That Colbert is a troll. people shouldn’t engage with him – best to ignore him and I will delete as I see him.

We can ban him but he just comes back as new nicks.

Please email me as he pops up.

Thanks

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228…[Read more]

send me an email to

simon@mortgagehunter.com.au

just cut and paste the url to the offending link into the email.

This page link looks like this:

https://www.propertyinvesting.com/forum/post.asp?method=Reply&TOPIC_ID=17829&FORUM_ID=14

Easy!

Thanks

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

Comments may not be…[Read more]

Dazzling – I don’t always find enough time to read everything, sometimes I feel I am the only one here sometimes!

Please drop me an email with a link to offending posts and I will get onto them ASAP. Anytime you see something.

Cheers,

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

Comments may not be relevant to…[Read more]

Entries like that aren’t all that bad. You need to find out why the bank knocked you back and address that issue.

Lenders cannot access your CRA unless you gave them written authority to do so – that authorityu is in the application forms. So if they have done it without your knowledge you need to speak to them.

But first thing is to get the…[Read more]

Sounds like a Credit Card to me.

That is probably not the single reason you are being rejected. Did you ask the lender or broker for a reason?

If you had a default on there it will be more obvious than that. You would also have been informed by the organisation lodging the default.

If that is all that is on your CRA then don’t be too…[Read more]

I use active topics which shows me all the new posts since I last logged in.

Might help you I think.

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.

Originally posted by baloo:
Originally posted by Mortgage Hunter:
His second sentence actually credits the fact that his first had no basis – simply something he made up.

If this gets emotional and abusive then it will be locked.

Point taken. But I didn’t state that people had lost money at this point in time.

It would be nice if you showed…[Read more]

Can people please use more reason and less emotion here.

Baloo writes:

“secrets”. Luckily in this case they shut up shop before too many people lost money.

Actually, did anyone lose their Loan Application Fee ?

His second sentence actually credits the fact that his first had no basis – simply something he made up.

If this gets emotional and…[Read more]

jewel,

Try this for a safe option for your friend.

Have your friend increase their loan to provide you with the cash you need to qualify for a loan.

You then take your loan with another lender.

This means that should you default or go bankrupt then your friends worst case scenario is they lose the cash they lent you.

Should they be guarantor…[Read more]

Thanks Kay for the kind words,

I am glad you understand the difference between what we feel and what we know. I “feel” that there are many who don’t [biggrin].

If anyone is concerned about any private info they may have given to Derivex they should ask for it and any copies to be returned. If they believe that Derivex are misusing their info…[Read more]

The obvious advice here is to find another lender. Ask around or contact a broker.

A broker can be very useful here once he knows what you need. As your friends and family for recommendations or ask around here.

Cheers,

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

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

I think the more dangerous element of all this were the applications that were put in… the mistake was for people to disclose their financial and personal details to Derivex- ugh- i hope there are no implications for those who did that. Obviously, there were some who were so depserate for the latest, biggest thing, that common sense went out…[Read more]

Ask them for an IO loan.

I don’t know their products so cannot advise if they offer one – I expect they will.

All the best,

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]

If you plan to buy and hold for a long time then illiquid might give you an opportunity to get something really well priced.

Double edged sword which will bite you on the bum if you choose to sell.

I personally prefer houses for the CG potential. I believe that middle class 3-4 bedroom homes are the most sought after type of residential…[Read more]

I just saw this thread now.

I believe it is not appropriate to start a thread about another forum – especially if it paints it in a bad light.

Each to their own. Somersoft is popular with a lot of people so they must be doing some things correct.

Remember you can’t please all of the people all of the time.

I suggest that if there is a site…[Read more]

Mate,

I did 17 years in the Army. Feel free to give me a call or an email and we can shoot the breeze together re investment strategies.

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…[Read more]

Research how it will benefit you where it is.

If you draw it I would use it in the PPOR as suggested. You can always create new deductible debt for more IP’s.

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]