I know a good mortgage broker there but not an accountant.

He should know a few though if you would like to chat with him.

Simon Macks
Residential and Commercial Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision…[Read more]

Originally posted by Sacko:
Does any body know whether it’s possible to use this product for an IP, as if so it should help make more IPs CF+

SACKO!

I am no expert on this product.

But thinking aloud …

If cashflow was your goal and you planned to buy and hold forever then who cares if the lender owns 40% of your equity – esp if they don’t…[Read more]

AIMS don’t even need an ABN.

Simon Macks
Residential and Commercial Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Originally posted by dacium:
There are some exceptions, like you said with livining in a rental.

But I would check with your tax man to make sure you are doing it correctly. The reason for this is because if you don’t pay GCT you are liable to pay back all tax you have deducted over the years as a ‘loss’ on an investment house that didn’t end up…[Read more]

Originally posted by Dr.X:
………and I know a few “sophisticated investors” who made alot of money out of the derivex products.

I wasn’t aware that any Derivex loans were actually provided?

Simon Macks
Residential and Commercial Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances.…[Read more]

Wealthy is when you have choices.

Some may be wealthy on significantly less income than others.

Simon Macks
Residential and Commercial Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a…[Read more]

yes – as long as you dont own another home as well.

Cheers,

Simon Macks
Residential and Commercial Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

You would be liabl;e for a CGT component for that 8 months. Given that it is reduced by 50% four months later I wouldn’t be too concerned about it – it will be a small proportion of any profit and will be smaller the longer you own the property.

Cheers,

Simon Macks
Residential and Commercial Finance Broker
simon@mortgagehunter.com.au
0425 228…[Read more]

My spidey sense is tingling here …

Simon Macks
Residential and Commercial Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Don’t touch it mate.

We can explain it to you here easily enough.

In a nutshell you pay all income into your loan. Live frugally off your credit card then each month draw from your loan and pay down that credit card.

The funds stored in the loan will reduce your interest bill and the strict budget is key to making those much larger…[Read more]

You wont go wrong with Richard or Terry. They both have enviable reputations and are men of integrity – shame more brokers aren’t the same.

Let us know how you get on. These guys deserve a good writeup!

Simon Macks
Residential and Commercial Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual…[Read more]

Originally posted by dacium:
“..its kinda like saving 50k in the bank. in that 5yrs i could of just paid the interest on the loan and put that 50k into other investments and made further profits rather than it sitting on my mortgage doing nothing.”

That statement sums up the typical complete ignorance over interest only loans and why banks love…[Read more]

This is a US based spammer. FICO score is a method where US property lending id assessed for each different client. Fortunately things are simpler here.

I have left this post up for admin to see and ban the spammer.

Typical example of the stuff we remove daily to keep this forum focussed.

Cheers,

Simon Macks
Residential and Commercial…[Read more]

Nope. Unless it is simple mortgage minimisation techniques repackaged with a new catchphrase and sold on for $3000+.

Can you give me some more detail and perhaps I can save you some money and time.

The more things change the more they stay the same.

Simon Macks
Residential and Commercial Finance Broker
simon@mortgagehunter.com.au
0425 228…[Read more]

Has worked well for me.

Simon Macks
Residential and Commercial Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Get a folder for each property and for each year. File all records for the year in that folder then put it away.

Don’t make the mistake of keeping all rates together, bank statements together etc etc.

You will always sort this info by property and by year – esp for tax so file it the same way.

There are some neat little binders at officeworks…[Read more]

Originally posted by kellylock:
Hi everyone,

Just have a question:

Is it possible to delay paying CGT by puting your gain into a similar investment. I have vaguely heard of the idea but I dont know anything about it.

Thanks, Kelly

That really is an American strategy and not possible here.

Cheers,

Simon Macks
Residential and Commercial…[Read more]

Why do people here always view shares and property as being opposites and a choice between one or the other?

I think a strategy for wealth can be adopted to include both – in fact many clever investors have a balanced portfolio.

Simon Macks
Residential and Commercial Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not be…[Read more]

Terry speaks the truth as usual …

Simon Macks
Residential and Commercial Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Originally posted by mathewc73:
Writing covered calls always seemed a contradiction to me as writing the call assumes the market wont rise, yet owning the share assumes the market will rise. Why would you have capital in a market that you assume wont rise?

Mathew
http://www.arrttt.com
Custom Oil Portraits

Yield….

Just like many of the positive…[Read more]