Forum Replies Created
I have learnt that when people say “This time it is different” it generally isn’t. History does repeat itself – property is cyclical!
I do admit I used some good examples but even a poor example will show muliples of gain in that time period.
Any investor in the 20’s and 30’s is in a pretty good position for growth prior to them getting old [biggrin]
I guess this proves what all of us aged investors tell the youngsters…….
I wish I had started at your age!
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.85%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Lets put that downside in perspective Geo.
30 years ago my parents bought a waterfront home in Sydney complete with Boatshed and Jetty – my dream property. They sold it shortly after [grrr]
They paid just over $40K. Market Value for the time.
Today would be worth maybe $2M?
What would it matter if they still owed $40K?
My Grandmothers holiday house cost them $27K in the 70’s – now worth $450K+. Same thing.
Don’t forget that inflation is also working for you in this case.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.85%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Consider occupying them to save the CGT. if you don’t already own a home that is.
As Geo said, some moeny spent on an hour with an accountant might save you a packet.
Cheers and good luck,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.85%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Yes your equity occurs with CG.
With P&I you would be surprised to see how little you are actually reducing the principle in the first few years anyway.
The bank will get the properties valued then if their is equity you can borrow against it. As simple as that.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.85%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Here is the thing guys.
In some cases I advise people to pay the minimum off their loan…why?
Most lenders need a demonstration of saving ability. So to pay out all debts and then save may well add another 6-12 months to the process and in some markets could be costly.
So whilst in principle I agree to rid yourself of bad debt it isn’t always the wisest option.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.85%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
The answer is that the variable rate of the day wil apply.
If you choose to fix your loan then you can lock the rate in by paying an extra fee. This will only generally be for the length of a average settlement.
Hope this answers your question.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.85%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Maybe if your home is worth $250k you can borrow $200k.
Think outside the square most live in.
DD
I would love to know how you can quote a loan size of $200K over a value of $250K when you don’t know reneeks income etc?
Such flippant advice is dangerous and certainly isn’t what someone new to investing needs to hear.
As I mentioned earlier Reneek needs to disclose more financial detail before information on borrowing ability can be assessed.
Kind regards,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.85%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Domo,
Ask your banker or broker about the Premier Advantage Package.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.85%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
What do the figures tell you? Make sure you include the holding cost and interest for the construction period.
will you sell them then or rent them out?
Wha are your goals?
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.85%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Terry took the words out of my mouth.
PTY LTD has no advantages.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.85%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I agree qwerty [biggrin]
Domo which bank is it?
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.85%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Domo Ask your bank for a professional package where it will be the same for a small deductible fee.
Is important to not have a huge tax problem because you tried to save a few dollars now.
I am happy to make some suggestions if you send me some detail.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.85%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Properties under 50sqm are harder to finance. As such there can be a limit on the resale market.
Make sure your research includes this factor.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.85%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Most investors use IO loans. Especially if they have any non deductibe debt such as a PPOR loan.
You are on the right track here mate,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.85%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
spot on qwerty
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.85%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
What would you be planning on spending now if you were to buy?
Depending on the figures involved the advice could be either or even a compromise.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.85%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Welcome to the forum.
Unfortunately such a question is so general it is impossible to answer.
In general the best way to finance it is through a lender with a 20% deposit sourced from your home loan.
I would need to talk to you before giving any specific advice.
All the best,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.85%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
6.2% is quite good for a major city but possibly unremarkable for the smaller towns.
10%+ is quite achievable in my clients experienc.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.85%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I invest for capital growth.
Thats it.
I go for a property that will increase strongly in value. If it is pos geared then that is gravy to me. Neg geared is Ok too if the potential justifies the weekly commitment.
That works for me however, I would never suggest any other person is wrong because they use a different strategy.
Perhaps this is why you aren’t getting a heated debate – most people respect other’s strategies as being rightfor them.
All the best,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.69%
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 you invest to minimise tax then I agree.
However if, like most successful investors, you invest to build wealth then it isn’t quite as clear cut as that.
As far as choosing forums I just go by the title, seems to work in most cases. If you can’t place it then I guess general is the answer.
All the best,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.69%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
