Hi JSSMM

Firstly welcome to the forum and i hope you enjoy your time with us.

Met up with a forum member in Brisbane yesterday in exactly the same boat.

We discussed several strategies but in essence i would be looking at what you intend to do when you move out and if is buy another PPOR i would be considering taking your loan to the maximum…[Read more]

Hi Jasmeet

Firstly welcome to the forum and i hope you enjoy your time with us.

The FHOG is a Federal Govt Grant which is administered by the indivdual States.

In saying the interpretation of the rules are similar and from readying your situation i hate to say I don't believe you would appear to qualify.

Cheers

Yours in Finance

Depending on the Contract you sign with the agent Chris you well find if they introduce a willing and able buyer and you refuse to sign the contract you maybe liable for an element of commission.

Just read the contract and see what the conditions are.

Personally i would not sell but access equity and go again.

Unless the asset is poorly…[Read more]

I must admit really does sound like your Broker is new because i can't think of too many occasions where I would look to use Macquarie for a loan (SMSF loan might be different) even a 95% lvr.

Just get her to order a new upfront valuation with another lender and don't lodge the application until you have the report back.

Cheers

Yours in…

Certainly getting the structure correct from day 1 is paramount when you enter the world of property investing however make sure that you costs involved are relative with what you intend to achieve.

I have seen many an investor set up an expensive structure only to find out they purchase a single property and then focus on paying down equity or…[Read more]

And also a matter of not listening to your Banker who probably has no idea.

Cheers

Yours in Finance

Hi Meles

Do you friends all hold ACL's?

Must admit i would have been surprised if they do as i don't know many of mine that do.

Cheers

Yours in Finance

Yes agreed and that's what i suggested to him.

Cheers

Yours in Finance

Certainly can buy residential property inside your SMSF but you fail there on 'the related party' section of the SISA.

You could always sell the property and make a Deductible / Non Deductible contribution to your SMSF. 

Cheers

Yours in Finance

Hi Sher

Wont hold that against you as i was born and bred in the UK.
In fact spent 6 months there over Xmas and New Year.

This is an Australian site so if you are wanting to invest here then probably a small development might be the way to go.

Cheers

Yours in Finance

LC888 sorry to appear niave but i am not sure how buying a property with poor rental income but good capital growth prospects will aid your cash flow position.

Surely would it be a matter of buying properties that wash their face when it comes to the interest costs and that with a few dollars spent in renovation can add both value and increase…[Read more]

Hi Sher

There are many considerations and without knowing more about your personal circumstances it is difficult to provide a more educated response.

I am assuming you are working and if this is the case you could certainly look at some form of gearing.
This will enable you to control an asset value considering higher than your current…[Read more]

Hi DK

Lenders would love to hear that you are offering them other properties as security for another property.
That is exactly what you do NOT do to expand a portfortlio.

Once you hit the serviceability wall with your lender there is no way to go.

Like driving down a narrow 1 way street and not having a reverse gear.

Cheers

Yours in Finance

Jac that was the first thing of many i was thinking.

Forget a Spousal Transfer i think i would be looking at a Broker Transfer.

Cheers

Yours in Finance

Richard i think Steve has subsequently corrected that comment as it has been asked 101 times.

Be surprised how many forum clients i arrange finance for who believe that is the case.

In saying all of this there are some lenders who are very pro investment and have excellent serviceability models and other that arent as forgiving.

All part of…[Read more]

Isiah Yes MISA is to offset accounts as the Robin Reliant was to motor vehicles.

Sure it will eventually get you there but you might get frustrated with the time taken.

Cheers

Yours in Finance

I must admit i am concerned why there is still a couple of hundred of dollars shortfall after you have purchased another IP.

Are you sure you are claiming all you are entitled to ?

I will also assume you have done the numbers on a part or full Spousal Transfer considering the CGT and SD.

Cheers

Yours in Finance

Thxs Peachy appreciate the comments.

Cheers

Yours in Finance

Rather than buy up big in Cooper Pedy you always look to take up a few long term Call options.

Reduce your risk yet maximise your opportunity.

Cheers

Yours in Finance

As Terry has mentioned as long as you realise once you pay down the debt if you need the funds back the interest wont be deductible.

I decided 17 years ago to pay down all of my IP debt and must admit i do enjoy the monthly cash flow.

Cheers

Yours in Finance