If income or deposit are low but the other is high then there is usually an answer.

In your case you might be best to spend the moment learning and researching property.

Keep building your deposit.

When you have a decent income then buying your first property will be simple. I would suggest you consider buying a home for 6 months then move out…[Read more]

You can get it on purchase price in certain circumstances.

Why are you after this? Knowing your situation might make my advice better.

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…[Read more]

Originally posted by chancy168:
Thank u Simon, I didn’t realise the facts u mentioned. But if I kept it for the long term in a growth area,say, Ipswich/Sanctuary Lakes, Qld then capital growth may compensate for some of these higher costs.

Yep – that may well be the case.

I reckon these are great investments for the long term “hands off”…[Read more]

They can be great investments.

You need to decide what your goals are and what stragtegies will achieve them.

if DHA meets your needs then grab one.

Some of the perceived disadvantages are the high management fee, the rental reviews that may not meet your idea of the market and also the fact that if you sell the long lease means you are limited…[Read more]

I wouldn’t sell.

After four years of growth the stockmarket is forecasted by many to start to settle this year. Changes to Super see a lot of money still pouring in wich may delay things.

Sure as night follows day, when the stock market loses momentum the smart money will be looking to switch back to property.

I am no expert but I am looking…[Read more]

Originally posted by nikikb:
Hi,
I understand your thought-developers make extrodinary profits on each house,depending.

Some make extraordinary losses.

Without experience and in the current market I would suggest that enthusiasm and time is not all that is needed to make an extraordinary profit.

[blink]

Simon Macks
Residential and Commercial…[Read more]

Originally posted by World Changer:

I have had to sell some houses to make it happen but hey thats life
hey !!

Congratulations!

Did you have to pay a dowry or buy her some how? [blush2]

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

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

If you think you will sell in the short term for a capital gain then the best way would be for her to buy it as a PPOR and then split the profit with you.

This is fraught with risk as you will own nothing. I wouldn’t hesitate with my in laws – they are good people. Only you can decide.

Simon Macks
Residential and Commercial Finance…[Read more]

Originally posted by kpi:
TerryW hit the nail on the head. A solicitor comes in handy when a property transaction become messy. Ie. Problems with title transfer and settlement disputes etc.

Yes Terry knows a lot about this stuff … [blush2]

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

Use a Qld based legal team.

Conveyancers are cheaper and perfectly fine for 80% of deals.

But if you fall into the remaining 20% then a good solicitor is well worth the extra cost.

Unfortunately you don’t know if you are in the 80% or the 20% until the dust settles!

Whatever you decide – shop around and negotiate a discount. Some solicitors…[Read more]

Members have joined the forum and registered their nickname. Guests are just browsing and have no posting privileges.

Membership costs nothing.

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]

Originally posted by wealth4life.com:
WOW … he came to one of our seminars 2 years ago and my boss and him hit it off like father and son.

I have a personal friend “Josie Watkins” who is a senior lecturer at the UNSW in this subject … depression is a phsyc word and josie prefers to call it “sadness”

Every body has levels of sadness – SIS was…[Read more]

Originally posted by Bugs:
Thanks for your reply Richard, should we seek the advice of a mortgage broker? As you can tell we are very new to this?

I think you should talk to one at the very least and see how you get on with him.

Richard has a solid reputation in this forum and he would be a good starting point not least because he has already…[Read more]

Depreciator uses Quantity Surveyors throughout the country. All reports are compiled by qualified experts.

I personally use them and will continue to do so.

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]

Educate her – buy her some books and teach her what you have done.

Lend her a deposit – do not go guarantor.

With a loan your downside is that loan – if you go guarantor then you can lose a lot more if she marries poorly, turns to drugs or a life of crime.

Cheers,

Simon Macks
Residential and Commercial Finance…[Read more]

Offset account is simply a bank account linked to your loan. What funds you have in it “reduces” your loan balance and you save interest. But the funds are never in the loan so they can be drawn out for any purpose with contaminating your loan in the eyes of the ATO – it is the best structure for most people I believe.

ie if you have a $300K…[Read more]

Take your time. Talk about it often and try to get your partner to meet some other investors.

If you try to push her she will push back. If you lead her she will slowly follow.

My wife was the same when we bought our first place – that $50K loan was terrifying her. Now a $M loan wouldn’t phase her!

Encourage her to read – Jan Somers is a…[Read more]

Originally posted by World Changer:
Hello jo l,
I wouldnt be concerned at all.This is an un foreseen circumstance and you are not moving out in some cunning plan to rip off the government. I dont see that you are doing anything wrong,just give them a call and explain all yr options.If you dont rent it out in this time it will not be a problem,you…[Read more]

Why don’t you leave all your furniture in the property with the utilities in your name for the next two months – is continue to maintain it as your home.

Just because you are staying with family temporarily shouldn’t affect your “homeowner status”.

I wouldn’t worry about it too much. It is the places that are tenanted that attract their…[Read more]

Yes you can do it.

But it is pointless as the new borrowing will not be deductible and it will only mess things up.

There is no simple way to change the loans from non deductible to deductible.

Cheers,

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

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