Why can’t you afford to buy a $385K house with strong rental growth? Has a banker or broker told you that or is it a belief you hold?

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…[Read more]

Why don’t you just buy it yourself?

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.

Time will reduce your principal.

I use the example of my parents home bought in the mid 70’s for $47000 on waterfront in Sydney. Had they paid IO all through the term of the loan then they would now have a debt of $47K against a $3M valuation.

Had that been an IP then they would have been able to free cashflow to buy additional property.

I use…[Read more]

How did you do that to yourself?

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.

If it was secure then I would park cash there.

Funny thing is that I believe in a direct relationship between risk and reward.

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…[Read more]

I am a huge fan of Peter Thornhills book and have recommended it to many clients. My copy has been lent so often that it is very tatty – I should buy another copy.

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…[Read more]

I lived i n Malaysia for a couple of years and investigated buying a property whilst there.

They don’t have PMs as such. A PM will find a tenant for you but ongoing rent collection is your responsibility.

The standard of construction is very variable. Every day there are newspaper articles of government inspectors being paid off to ignore…[Read more]

Terry is spot on. I would use the offset before a LOC for the reasons he outlined.

Simply – an offset gives you maximum flexibility whilst keeping costs down.

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…[Read more]

http://www.depreciator.com.au is the one I use. He isn’t too expensive either.

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.

Why not both in your portfolio?

Thats what I do.

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.

No. As a couple you can only use it once.

If she leaves you she will still be deemed as having “owned” a home – even if her name wasn’t on title.

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…[Read more]

Six months. It has to start within the first 12 months of your ownership.

This allows you to honour an existing tenancy if you buy a property with a tenant.

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…[Read more]

yes and no.

only one of you can salary sacrifice a dollar. But if your mortgage costs $20K then you could each sacrifice $10K.

I am really not an expert and you should contact the workplace expert or organisation – my wife’s employer outsourced it to a local FP company.

Simon Macks
Residential and Commercial Finance…[Read more]

no advantage insalary sacrificing IP repayments – you cannot then claim them against tax.

Salary sacrifice PPOR costs, vehicle costs, credit card repayments, education etc etc.

Your salary sacrifice rep will advise you.

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

Comments may not be relevant…[Read more]

your punt = fraud hence the fine.

Normally, a person that repays the FHOG due to a change in plans can reapply when they do buy another PPOR.

I don’t know what the options are in your situation where you were caught defrauding the Commonwealth.

I think you need to talk to the FHOG people – the contact details should be on the letters you have…[Read more]

My wife salary sacrifices our mortgage expenses on our PPOR. She was also given the option of doing it with rental cost.

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…[Read more]

How many did you try? I can think of any number that will approve more than Homepath will. They are no less stringent than other lenders.

Please contact a broker. I am not saying that to drum up business for myself either.

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

Comments may not be…[Read more]

Homepath are shockingly slow. I have used them and heard all the horror stories. I personally would think twice about using them.

Homepath will have done no checks into your CRA, incomes and of course no valuation. Their pre approval just means that based on the numbers you supplied you will be able to afford the loan.

If I was you I would…[Read more]

It sounds worth exploring.

As to whether it is a good investment – it is impossible to say without knowing a whole lot more.

Have you any other IPs? Usually people turn to commercial after gaining experience and equity in residential. It is quite a different ballgame.

Cheers,

Simon Macks
Residential and Commercial Finance…[Read more]

Why do you think a company is the best?

What are your reasons for doing this?

Is it a long term or short term partnership?

What are your investment strategies?

In many cases a Trust is the best vehicle – often a Hybrid Discretionary Trust. Often a Company can be the worst.

But you really should see an accountant and have him analyse your…[Read more]