Forum Replies Created
There are a few of us around the area. Do a search – there was another recent post with an email address you can respond too.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Dan,
What are your plans after buying this home? Will you keep buying property or will you sit for a while?
I imagine your loan size in Sydney will qualify you for a professional package, ask your broker to see if this fits for you.
All the best mate,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Hey guys and welcome,
What are your goals? What do you hope to achieve through all of this?
One idea might be to build a duplex on the block?
I know it is an east coast builder but http://www.valleyhomes.com.au has some designs to get you thinking.
All the best,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Why do you feel you need to sell something?
Are you 100% sure this is the case? If you would prefer to keep all your properties but feel finance is the issue then please confirm this with a reputable broker.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Philip,
I think you have misunderstood my purpose.
These are wrap clients who are looking for a partner to make the purchase.
Any conditions of the wrap will be between them and the parties solicitors.
I am in no way involved with the actual deal – just hoping to put two parties in need of one another together.
I imagine the things you suggest are beneficial however I must admit to little exerience in this area.
Regards,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
It depends on the council’s LEP. Call the duty planner and ask.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
The market has certainly slowed here, it is not the time to purchase hastily so as not to miss out on the boom. I believe that it is more a time to purchase wisely and make money out of the deal.
If you do wish to buy here I would use a buyers agent rather than just purchase blind from theinternet As I said above it is time to purchase under market value – even if you need to examine 100 deals to do so!
All the best,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments 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 with GP on ths one.
It is the use of the money – not what you had on the application form. But as always read below my signaure.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments 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 had some sucess with bleach left one for a while.
I also know of a comercial cleaner whouses a rotary lino floor polisher to clean tiles and grout.
Good luck,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Lisa,
That is a very detailed break down and would be of interest to lots of members.
I would love to hear the rest of the story of the project when you get the time [biggrin]
All the best,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
The only time I would sell is if I could buy a similar property for less (ie. its older and needs renovation) and renovate.
[/quote]I think that was the gist of it Yack – buying a place that one could add value to in a number of ways then taking a profit if the market wasn’t in a strong growth phase.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
You need to live in the property for 6 months starting within the first 12 months.
Simple as that.
Is there any way you can occupy it?
Hope it works out,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Saw your post. I have been thinking of doing a small project – duplex or triplex to learn on.
What are you up too? Have you any experience on the central coast or the hunter valley?
Love a chat about developing sometime if you are able.
Regards,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Sonny,
What are your goals with your property investing?
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Why?
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Yes. Not sure of the exact timeframe it should be tenanted though. I suspect a few years would be quite straightforward whereas 3 months might not be anywhere near enough.
Casll the ATO for specific info.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Redraw that money for investment purposes only and you will be right.
Use an offset account to store money is the lesson.
Sorry to be the one with the bad news. [glum]
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Jo,
If you buy an IP with a $100K LOC.
You deposit $10K into it for a few months then you use it for a holiday. You figure it will reduce your interest for a while.
However the ATO now see it as a new $10K loan for private purposes.
I hope this example helps clarify it.
kindest regards,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Basically a repair takes it back to the condition at which you bought it. A capital improvement takes it beyond.
The common example is painting – painting on purchase, no matter how bad the condition is, doesn’t fall under the definition of a repair.
Do a search at the ATO website for the DS definition.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I use ebay every now and then and I have only had positive experiences except for one item which was damaged in transit – the vendor refunded all my money plus postage both ways!
I think ebay warnings sell stories for TT. Millions of people use it daily. Frequent ebayers are very careful of their feedback or reputation scores and act accordingly.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
