It’s your info so they should be amicable but beware that sometimes they run spreadsheets which while technically good (and perhaps proprietory), don’t ‘present’ so well, so maybe summaries rather than ‘everything’ would be the go.

[]
Mel

Ethically $20 for travel time.

Realistically $120 for ‘magical solution’.

Washing machine repair people aren’t my favourites either just quietly …!

[]
Mel

Hi,

This is similar to the example given by Dymphna on the weekend course, went a little something like this:

You are doing a residential development with the intention to sell:
Buy land $55,000, includes $5,000 GST
Build house $165,000, includes $15,000 GST
Sell price $275,000 includes $25,000 GST

You claim the tax credits of the $5K+$15K…[Read more]

Good point Div43 especially if actively buying regularly and happy with higher risk re property value. Still think that if it’s a good positive cash flow property and I don’t need to live on the difference, I’d rather own $200,000 (price doubles in 10years) many times over then own $100,000 & owe $100,000 many times over.

Re longer I/O terms,…[Read more]

Kelly is this for commercial only or residential as well – and how do you find out more !?

Thanks,
Mel
[]

Hi Gary,

Nice to know my fellow HLC’s are joining the fray – welcome aboard [] I’m sure you’ll enjoy the information and creative property investing projects talked about on this site!

Cheers,
Mel
aka melanie@homeloanconnexion.com.au
[]

Hi YoungGun,

I’m back and have emailed. I can certainly help with the Broker side, but others in the Property Advisor area can probably give you more input on that side of the triangle … []

Cheers,
Mel

HG – it’s only positive by $27 per week in this scenario, is that really a good enough return considering you’ve put in $37,000 (plus costs of approx $9,000) to achieve it – I’d vote no unless has significant capital growth/multi-use potential as well.

[]
Mel

In numbers terms:

If you take out a 30 year loan of $200,000 at 6% interest rate, and take the first 5 years I/O and don’t change anything else about the loan, then you will pay interest only for first 5 years ($1,000 per month), then basically a P&I loan for the remaining 25 year term (approx $1,290 per month).

Personally it’s never made sense…[Read more]

It’s all in the delivery philosophy. Banks do a tick/cross flick through applications looking for risk factors and hence reasons why NOT to lend the money. Brokers look at their clients circumstances and will bat on their clients behalf if needed with mitigating circumstances arguments that often help stack up just enough tick/cross points to…[Read more]

Hi!

I cannot help with a contract, but I’ve had the following software recommended, looking to buy myself at the moment: Jan Somers PIA software (look up http://www.businessmall.com.au) or the REAP software (www.inwiththenew.com).

Hope that helps, sure others will chip in too.

[]
Mel

Howdy,

If you rooly rooly want to be a broker then unfortunately the criteria is getting harder, but basically to become qualified you need to:
1. Have either two years credit experience or undertake a course (norm 2-3 weeks) approved by Mortgage Industry Association of Australia (MIAA),
2. Join MIAA which involves sitting some Uniform Consumer…[Read more]

? Add/detract value – if done right, Yes
? Existing houses get dearer – double Yes

Two cents worth – they are nice mix of grass/dirt with low maintenance requirements for both house and garden, and provided you get on with the neighbours, a bit more ‘community’ feeling than plain apartments.

[]
Mel

PS My opinion may be biased as I live in a…[Read more]

Calron takes the cake – again! []

Good to see this thread still thriving! Kelly I met Dymphna at a Property Riches 2003 three day seminar (my first!) in mid-July, she was the ‘expert’ on tax and structures and took the audience by storm. I actually spent Saturday afternoon at a small 5 hour conference she held at the Sunshine Coast Uni and…[Read more]

Good idea, personally I love free informative web sites … !! Plus not only will you meet these people but given your gumption they’ll probably want to adopt you too!

[] []
Mel

Yeah I am keen, especially after reading about your investing adventures Calron!

There was another Brisbane Meeting thread weaving around a few days back – anyone following up on that?

Mel

Easy – ANZ, CBA, Rams all offer it in their O/O products, more offer it for R/I products, may reduce the LVR from 95% to 90% though in some cases.

Cheers,
Mel

Oops – thanks Doogs. Re not trusting ATO – surely if you’ve taken and acted on their advice you should have some level of confidence, or am I just being naive?

Mel

[] [] That’s fantastic! Well done.

Don’t know about the timber vs brick one though – being a Qlder, the timber houses are the fave. Is this based on expected maintenance costs??

Cheers,
Mel

Sadly I find his stuff largely sensationalistic, not informative or as you point out, accurate!

He did a property investing article about 4 weeks ago that had me hopping mad, he had almost no facts to offer, just used every emotional tug he could to insinuate that property had no merit at all (story along the lines of: couple buys investment…[Read more]