Im guessing your talking about a SMFS.

I haven’t tried this, but i dont think it;s possible as well?? because;

Every purchase needs to be authorized by your Accountant and the Financial planner of the SMFS – and i doubt any of them will allow this lol

Regards
Michael

rechargelife wrote:
My wife & l are searching for motel accommodation to operate and live in. This will be our first time in the motel industry but have stayed in many variety of accommodation over the last 20 years or so from a customer point of view. l hope that helps us leverage upon to offer a greater service to a changing market with a new…[Read more]

TiffanyG wrote:
Hi,

So a person I know who is currently overseas bought an “investment” commercial property from a company called ozzieoppertunities 4 years ago in Brisbane on the Airport Road in the Gateway Business Centre… the people who sold the property have been acting as agents and haven’t been able to lease the property for the last 4…[Read more]

What background are you from? ie do you have experience in property development, finance etc….IF not then i dont know of anybody that will “fork out the cash” for a joint ventrue sorry.

I have connection with a range of people who are willing to provide private funds in joint partnership BUT generally speaking; In any joint venture – you will…[Read more]

Phillyc wrote:
Is it possible to reset the cost base by moving out and renting the dwelling during the DA process? I hope to be lodging in a matter of weeks.ie When I asked if it was possible to rent the property out again to reset the cost base to today's value. But was told.* There is no possibilityy of “resetting” the cost base as the 6 year…[Read more]

Phillyc wrote:
Hi All,From the headline it seems a bit tricky. I have received some property tax advice and want to double check it or find better!Situation details as follows* I bought my first home in 1999.* I lived their for ~18mths* I rented the house out for ~18mths* I moved back in and have lived there since* I have bought 2 IP's.During…[Read more]

Hi,

1. You can claim any place as your residence but only one place will be your PPOR and only one of them can claim GCT exception at any one time.
2. If this was your IP to start with, then it;’s to late to be excepted from the GCT – it had to be your PPOR then IP …in that case as long as you did not have a 2nd PPOR and you sell within 6…[Read more]

DJB79 wrote:
Hi Michael,….spare $$$ went into paying our home loan down over the past 2 yrs.
>

It sounds like you have a bit of “redraw” or overpayment in your current mortgage – depending which product you are on you can redraw this $$ out without any refinance or paperwork.

If your with CBA- log onto netbank -> go to “transfer” – >…[Read more]

Jamie M wrote:
Hi Sam

Does sound weird. I can’t speak for the company you mentioned but if the mortgage broker aggregates through either Choice, Fast or Plan then this fee shouldn’t exist.

Cheers

Jamie

This fee does not exit through ANY broker!! not just the above aggregators…i use to have direct accreditation and now i aggregates…[Read more]

DJB79 wrote:
Hi Michael,Thanks for the info.The part my wife and I are mod interested in is how not to cross collateralise.We have no liquid assets ATM as all our spare $$$ went into paying our home loan down over the past 2 yrs.If we assume 280K property value and 225K loan, how would we go about accessing that equity?How much of that equity…[Read more]

DJB79 wrote:
Hi All,I've scoured the finance section and haven't come up with a full answer thus far.My wife own our own home and recently moved to a large country town from the city.Our current property is being tenanted out $270pw with a loan of $225K (esitmate home is worth ~280K).We are currently renting in our new town.We're looking at…[Read more]

investhut wrote:
hi all,on my home bought for 220 K i currently own 25k. home should be worth around 240K i guess…here the forum members suggested i use my equity to manage 20% borrowing cost using my home.i even have to switch lenders as my current loan is with small provider..i went to 2 banks. they both are like yes u can borrow 400k no…[Read more]

Correct CBA’s 95% is for OO.

The post didn’t state if he/she was applying for as a OO or IP….so i gave general information only.

But for 95% Investment – NAB ( existing clients only)

Regards
Michael

This is one of many strategy that a lot of FP suggest or “market” But as Alistair mentioned; speak to your accountant first because;

1. You still need your accountant to lodge the tax deduction, and if he has no idea what your doing …your going to have trouble
2. It may NOT be suitable for everyone..
3. Im not sure how the ATO would like this…[Read more]

Your in luck; the 95% product has only been re-introduced 2-3 month ago…and there are plenty on the market!
ING, suncorp and CBA( must be existing mortgage customer) just to name a few that offer the 95% lend.

Homeloans LTD offer a 95% + LMI lend = so really its around a 97-98% LVR.

I get flooded with emails with clients asking if they have…[Read more]

I heard that on the radio as well..do you think it will apply to homeside as well?

Regards,
Michael

no app or fee if you go through a broker only…. as direct client the bank have to do the paper work n chasing up etc….

ahha Jamie, i was thinking "paper trail??" sounds like something from 007…RegardsMichael

SamAus wrote:
Thanks guys.Michael thanks for your list. I really wanted to know if there is a popular choice for investors out there that everybody uses or if as you have done compare all the major and minor lending companies and choose the best one for me ??Does anyone know about Advantage – thru Club Finance (NAB) ???Sam.

In the last 1 year,…[Read more]

sounds like the sort of accountant i want….sigh

* by the way, very touching post – in a way i feel for your “lost” and i can see you and your accountant have a REALLY strong and good relationship. Just because your changing accountant doesn’t mean you can;t be friends anymore!

Regards
Michael