Forum Replies Created
I must admit it wouldn’t be attractive to me. Low LVR means a lot of equity tied up. Also the trouble finding a buyer as you are experiencing.
I think I would only buy sub 50 sqm where the growth and yield were assured – not even central Sydney these days!
All the best – perhaps you need to furnish it, target the corporate rental market and sell it as such? They usually pay higher rentals.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked!
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 have someone I use a lot. Please drop me your contact details and I will pass to him.
I can’t publish his name without his OK.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked!
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.
The purpose of this new loan will be for your PPOR so no deductions.
You will have the same loan size overall but you have only suceeded in complicating things.
To achieve this you need to make all IP loans IO and pay all the principal payments into the PPOR.
Hope this helps,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked!
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 interest is deductible however I don’t believe you can claim capitalised interest.
There has been quite some publicity of this of late.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked!
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Fee is $0 – this is negotiable though.
Meet wherever you like.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked!
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 would recommend a 20% deposit. Can source that from your current loan if needed.
This will save you the LMI.
Do you understand the taxation position of having your equity tied up in your new IP and a big loan against your new PPOR?
Maybe we need to have a coffee – I am in Newcastle too.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked!
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
mmmm….
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked!
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Hardly any – usually only used by a developer trying to raise additional funds. Not at all by residential property investors in my limited experience.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked!
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Lillian,,
You may be able to borrow 95% of the purchase price or even more under some circumstances.
You should aim to save a 5%+ deposit over at least a 6 month period. If the deposit is a gift then aim for 10%+.
20% deposit is the ideal.
Any questions?
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked!
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 move into one of your IP’s I think you might have a problem.
You need to apply within the first 6-12 months I believe.
Email me and I will find out for you on Monday.
Regards,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked!
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
He sounds just like me!
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked!
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Sounds lovely. You should get in touch with some REAs now and see what they can tell you. I imagine there will be a certain standard of furnishing required etc.
I have a client with one on a Lake up this way. She advertises on a website, pays a neighbour to issue the keys and inspect/clean between tenants and seems to be doing very well.
Well done!
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked!
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 got a wife and two daughters ………….
Perhaps a wealthy boyfriend is what you need?
When my wife is working again I plan to start my new career as a trophy husband [blink]
Seriously saving is one thing. You will find a point after you start investing that your asset base should grow faster than your ability to save. It is a good feeling when you hit that!
All the best
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked!
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 – that is what it means.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked!
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Well I think it is great.
why don’t you talk to Holly at
http://www.teenageinvestor.com
She might be interested in your story.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked!
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 think you might find this typical of many country towns in the last year.
All the best,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked!
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 would suggest you get yourself a good broker on your side.
All the best,
Simon
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked!
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
That is just your lender. I have lenders who will happily do 20+ year terms.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked!
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
PP that is true.
Although the repayments will be based on the $200K whatever you didn’t pay would come out of the money you have in credit.
This can mess up your tax though.
Using redraw money for interest repayments may confuse things greatly for the ATO – please confirm with an accountant.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked!
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
One idea is to establish a line of credit against that property and use it to fund deposits for new properties.
You would need the cooperation of the other 50% owner to do this.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked!
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
