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Jamie Moore
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@jamie-m
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September 20, 2011 - 9:56 am
If you need emergency treatment it would be handy
If you didn't – then I would imagine all the commotion associated with living close to a hospital would be quite a pain (pardon the pun).
My immediate thought is that it would have a negative impact – but I could be wrong.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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September 20, 2011 - 7:55 am
Grab a medion computer from Aldi – they're actually really good.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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September 19, 2011 - 9:52 pm
Terryw wrote:
What do you mean no taxes on gifts? I have been paying tax on my christmas presents for years!
But Terry…..you also depreciated a dog once
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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September 19, 2011 - 9:50 pm
Ourdreams wrote:
But we have been told by a friend that we may not be able to claim tax deductions on the drawn amount as it is not for income producing purposes.
Hi ourdreams
Welcome to the forum.
Your friend is right.
1. No
2. You'll need to crunch the numbers. Remember, there are likely to be high break fees with the fixed loan which you need to consider as well.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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@jamie-m
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September 19, 2011 - 11:46 am
InvestingCoupleACT wrote:
Hi Guys,
Anyone know what the law is when receiving a cash gift from a relative is? Do we have to pay tax on this? I heard something along the traps that all my relative needs to do is write a statement stating that is a non refundable cash gift??
Basic gist is that we want to get a home – we have a deposit but are around 25k short – a relative has offered to give us the 25k as a present but we are not too sure as to what is required from us.
We live in the ACT.
Thanks guys!
Hi there
Using gifted funds is generally fine, providing that you can show at least 5% of the funds were "genuinely" saved over a 3 month period (that's assuming the loan amount is higher than 90% LVR).
If the loan is 90% or less, then there's lenders that will do 90% lends without gen savings. There are also lenders that will do 95% non-gen, but your options are very limited in this space.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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September 19, 2011 - 11:42 am
Hi JPS
I doubt they're suggesting a rendered finish so they can put up dodgy brickwork. The external walls would need to be in good shape in order to apply the render. To be honest, $2k to get an entire house rendered sounds like a steal.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
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Jamie Moore
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September 19, 2011 - 11:32 am
I agree with catalyst and Jac M.
Do you have any non-deductible debt such as a PPOR or car loan? If so, I'd be aiming to pay those down first.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
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Jamie Moore
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September 19, 2011 - 2:05 am
I wouldn't mix personal funds with investment funds.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
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Jamie Moore
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September 18, 2011 - 9:44 pm
Probably not a bad option if stock is tight. Perhaps look at getting a periodic lease so as you have more flexibility if you do find a new PPOR and need to break the lease.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
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Jamie Moore
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September 18, 2011 - 9:41 pm
Welcome aboard and best of luck with the investing.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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September 17, 2011 - 10:58 am
Hi Engelo
I don't know enough about them – I'm sure some others on the forum will know more though. Maybe start a new thread with them in the title.
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Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
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Jamie Moore
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September 17, 2011 - 9:35 am
There was a recent blog entry on the API website about this -http://www.apimagazine.com.au/blog/2011/08/understanding-repairs-and-capital-improvements-its-tricky/
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
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Jamie Moore
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September 17, 2011 - 9:32 am
engelo10 wrote:
Question #2. I would like to know your thoughts as to what are Melbourne's comparable suburbs to Sydney's: Mount Druitt, Whalan, Shalvey, Willmot, Lethbridge Park, etc… Any response is much appreciated. Regards, Engelo
I think it's a similar situation to Sydney with some of the cheaper burbs being located out far west.
Frankston's another favorite with investors. There was heaps of talk about it a year or two ago – but the excitement has seemed to of died down a bit. It might have already made its run.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
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Jamie Moore
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September 17, 2011 - 9:28 am
ph0enix wrote:
Do I need to get an evaluation done on the property or can an accountant work out the depreciation without an evaluation?
To claim depreciation, you get a "depreciation schedule" written up by a qualified quantity surveyor. However, you need to look into the advice provided by Michael above first.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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September 15, 2011 - 11:23 am
ruk wrote:
I don't think the FHOG actually stipulates how long you have to live there to claim it, all you have to do, after you get it is say you intended to live there but found that you could not afford to after all]
You'll find it generally states 6 months. I would be careful with this approach – some people get caught.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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September 15, 2011 - 11:17 am
luke86 wrote:
Real Estate Riches by Dolf de Roos I think you mean. It is a good one.
Yep, that's the one. It's one of the first IP books I ever read and found it to be very easy to understand. The best $5 I've spent on Ebay
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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September 14, 2011 - 9:56 pm
lifestylez wrote:
I want to read another of hers "20 Must Ask Questions" before I buy my next property.
It's a good read – I would have listed it.
Dolf De Roos also has a good book that covers the basics – can't remember the name of it though.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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September 14, 2011 - 11:16 am
Hi mg
You'll need to have a bank approval in place in order to receive a deposit bond anyway. Allow enough time to get this sorted – they say they'll turn them around within 24 hours but if they require additional documentation it can slow things down a little.
Best of luck with the auction.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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@jamie-m
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September 13, 2011 - 10:59 am
The NCCP has inadvertently made obtaining finance for this demographic more challenging. However, it's not impossible – and it's certainly different when purchasing an IP as opposed to a PPOR.
We simply have to illustrate to the lender that an exit strategy is in place.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
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@jamie-m
Join Date: 2010
Post Count: 5,069
September 13, 2011 - 10:49 am
lifestylez wrote:
Very well done mate.
When's your book coming out? No joke, if you had a book, I'd probably buy it!
I think he has one that's coming out soon.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]