Those 2am posts should be clearer!!! Sorry. ))

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

Can’t you stick all these threads in another section? I think opinionated would be more suitable.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

I have been audited three times without a problem. My company pays because the seminars I attend are in my chosen field – property and finance. They never even question any ‘education’ deductions.

Personally, I only attend seminars to check out what is out there.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

Sorry, not my area.

In NSW, once the exchange takes place and the cooling off period expires (if any), the law is on the purchaser’s side. Any work you do prior to settlement should not be lost if the vendor tries to pull out as the Court will enforce the sale.

If you cannot go through with the purchase, things become unclear. You would…[Read more]

The location of the property is important.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

Originally posted by Terryw:
By ‘retired’ I don’t mean living on a pension.

Either do I. Retired means no income from paid employment. You are now reliant solely on rental income.

Having a large property portfolio would mean one would be a professional investor.

This is a huge assumption that anyone would have a ‘large’ (however you define…[Read more]

Originally posted by Dazzling:
The key to it all is big numbers.

Rob – you need to pop a zero or two onto the end of your thinking and all of your issues will disappear with this concept.

If you have big numbers, you do not need this strategy. The rental return would be significant. You will still have to pay tax on it anyway.

Dazzling, I am…[Read more]

Terry, did you read my points above?

How do you expect to tap into your equity when you retire excluding reverse mortgages which only allow minimum LVRs (maximum 50%) at the lower end of retirement age and your loans would already be more than this???

It is great to say it sounds good, but please explain how it is viable?

Robert…[Read more]

Some of the wrappers are very sensitive. You can’t blame them though – they do cop a hiding in the media.

I don’t know much about Pelican Boy but there are a few wrappers who operate extremely professionaly, transparently and very fairly. They regularly post here. I am sure they will pop up in a post or two.

Robert Bou-Hamdan
Mortgage…[Read more]

Originally posted by surreyhughes19905:
… my income (from all sources) covers it easily with enough to spare for more investment.

This is the main point against the living off equity strategy. This is what investors aim for. If your income easily covers with enough spare, why tap into equity?

A few other things people forget…

1. The…[Read more]

There are no deductions for those who do not pay tax.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

It may even be cheaper to refinance your existing land loan into a construction loan. Check out the various options through your broker.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

That is what I thought. How funny is it that in an effort to not confuse others, you confused me! Maybe it is the brain freeze from all the slurpees.

Thanks for clearing it up though.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

Hi Star,

Just a quick comment regarding tax…

If people invest to avoid paying more tax, I think they are destined for disaster. The more tax you pay, the more you are earning. This is a very good thing.

There are various strategies available that can decrease the tax you pay while not increasing your liabilities. I think paying out $1 (which…[Read more]

Originally posted by upandcoming:… I also blaim the banks and finance companies.

Did anyone twist your arm or was that letter they sent you scary enough to make you think that if you did not accept the offer of finance each time, something bad would happen to you?

It explains a lot about your attitude regarding banks.

Robert…[Read more]

Stuart, you seem to be the man regarding Trusts etc. I was under the impression a Trust could not borrow. When you say “Trust’s name”, do you mean the Trustee’s name on behalf of the Trust?

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

Interest only is the way to go. You can always pay more if you have no non-deductible debt and want to reduce your liability.

I would also look at a loan with free redraw or an offset account. A lot depends on your individual situation how your structure your loan.

Regarding paying monthly, if you are paying interest only, this is probably the…[Read more]

Regarding Steve’s books, I have never known him to provide formal advice or sell property. He just tells his stories and people like listening regardless what they think of the methods – myself included. Steve is a fully qualified accountant and is more than entitled to provide advice though.

The likes of HK and The Investors Club (who hold no…[Read more]

Originally posted by Luci:
If the guy in question thought that his money was wasted, he would be suing HK (who I believe had a money-back gaurentee of some sort) rather than claiming a tax deduction.

A guarantee is only as good as the person or company giving it. You can’t get blood out of a stone and there is no point suing a bankrupt.

And to…[Read more]

Leo, let me know if you need any protection!!!

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links