Apart from my time being used up, I had no problem with the audits whatsoever. It was extremely pleasant. They were a great group of people and I have contacted one of them since for assistance and he even offered to visit me again.

Apparently, they are moving heavily towards mobile assessment and audit. It is a good idea.

Robert…[Read more]

Resi, let me know when you are going (if in Sydney). I will come with you.

Has anyone ever seen anyone thrown out of a seminar???

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

Terry, wasn’t all that outlined very clearly in the post above?

I don’t think anyone suggested borrowing any more than the deposit and fees against the family home.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

Nice summation Surrey!!!

Originally posted by Terryw:
I agree that living on equity will not be for everybody and will be a dangerous strategy for some people.

It is dangerous for everyone who would actually need to use such a ‘strategy’.

On No doc loans there is not need to list an income. These are basically asset lends, where the lender is…[Read more]

You usually only need two payslips as well. Savings history is only required when mortgage insurance is involved above 80% LVR as Simon mentioned.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

Originally posted by JasonBourne:
It won’t affect my investment decisions as I see negative gearing as a tax reduction strategy, which for me is always secondary to my investment strategy (ie, make sure you’re buying a good investment first; you will never get rich off tax deductions).

This is the most sensible ‘strategy’ I have ever heard in…[Read more]

It is really nothing. The reason I copped it three times is because I had three different businesses operating at the same time and they would not audit all three at once. I ended up with three different auditors on three different days over a period of a couple of weeks.

I asked them why I was being audited and two said routine checks and the…[Read more]

Number of posts mean nothing. My high number just represents I have no life or I am a computer junkie!!!

This is certainly nothing to be proud of and nothing to strive for.

As for the bullying, I copped it big time when I started out in this forum. It passes and things get better. I think I wore most of them down. You might even end up with a…[Read more]

Very hard to borrow against these properties. You will need a large deposit. I would look for something else if I did not have much cash.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

Hi Rebecca,

Welcome to the forum. Your questions are not “dumb” at all.

Assuming you can service (repay) a larger debt, you could borrow more than 80% on a property purchase assuming the security property is suitable to the lender. Going over 80% would result in mortgage insurance which is a waste of money if you can avoid it. Luckily, you can…[Read more]

Yeah, they are fast becoming the ‘Clayton’s’ investors bank!

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

When I am unsure of something, I kind of like going straight to the source…

http://www.ato.gov.au/individuals/content.asp?doc=/content/20427.htm&pc=001/002/026/003&mnu=5060&mfp=001&st=&cy=1

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

This may be old ground for you and I but it is new for some posters and many readers. The only off topic comments in this thread are one of yours and my response. I have deleted my response so the thread is back on topic.

If you get involved with something that is controversial, you have to be able to deal with the opinions. Believe me, I know…[Read more]

Originally posted by dmichie:
No worse than the “Equity Lending is a disgrace !!” thread I would have thought

I agree. That should be in the finance section.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

Hi Jsy,

Same here. And I am still and always will be a student.

I just noticed techhowse was ONLY a student. Maybe he/she just did not tell us all the information.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

What I meant by my comment is that if you are a “student” (ie: no job and no property), you do not pay any tax so who cares if it is deductible or not? There is nothing to deduct it against. Maybe in a few years though!

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

It will also be called tax evasion punishable by a potential jail term.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

Has anyone asked what the business is so they can give the proper advice yet???

I find that new business ideas are not legislated and do not require licensing or compliance.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

How does the depreciation work after 25 years?

How about after 50 years?

Does it keep going back up to the higher purchase price and start again from 100% each time a property is transferred?

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

I have never seen anyone paying up front or building a ‘PART’ of a building before.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links