Forum Replies Created
Nikola,
Get a broker to run your figures for you. If they have enough lenders on their panel they will immediately letyou know which lender will lend you the most in your situation.
Ask friends and familyfor a referral to a broker to ensure you find one that is capable.
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.
Send a letter saying that due to market forces the rent will be raised $15 pw. If they call or complain then negotiate it back to $10. Win win all round.
I have seen this work so well that in most cases the tenant cops the original rise. If they do you can always offer to drop it to $10 if all rent is paid on time, gardens are maintained or something similar.
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.
Kay Henry,
I don’t think the service has been removed. Just click the red link on the left menu bar.
I don’t know about the others here but the amount of business I have picked up doesn’t warrant the hours I have put in here.
I am primarily here as an investor and a moderator. If people use me to source finance then that is a bonus.
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 key is what the money was spent on.
If an IP, shares, managed funds, etc then deductible. Regardless of the security.
If using your home loan have a seperate split detailed to keep the loans seperate.
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 know the property. A colleague of mine has an arrangement with a lender for this place. They have already inspected and accepted it as security.
I know this looks like I am chasing business but you cannot approach this lender directly – you will need to go through my friend and speak to a specific lending officer if you want to try this path.
If you don’t have any success with your lender please email me and I will introduce you directly.
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.
As long as there are niu surprises you will have no trouble getting into a professional package.
LMI will be expensive but may be capitalised with the loan if required.
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.
Most offer the IO term for a period of up to 5 years – some 10.
It then automatically reversts to a P&I loan with somewhat higher repayments as the Principal now has to be repayed in a shorter term.
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.
It is such a personal thing that either strategy is quite valid.
Don’t invest for tax losses! However it is a commonly held belief that capital growth properties are usually negatively geared. My experience is that in the main this is true however I have seen examples of the opposite. So I am saying here that we generally sacrifice pos cashflow for growth potential and vice versa.
Some people invest for the future and aim at capital growth, reasoning that rents will also rise to the point where in 30yrs the properties are paid off and funding their retirement.
Others want that retirement early and will chase the pos cashflow stuff.
Some even go for a combination reasoning that the portfolio will be self funding and cover both bases.
It all depends on your goals. I know I am currently chasing capital growth because of my financial situation and goals but that is right for me as other’s plans are right for them.
BTW I am familiar with Old Kent Rd but King St in Monopoly?
Have a super weekend!
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 wouldn’t consider renting by the room unless you have a min of four bedrooms – preferably 5 or more. The economies aren’t there unless you do.
I know at $100 per room a three bedder wouldn’t get much more than if it was just rented on the open market. With “by the rooms” you need to pay for utilities so it really isn’t worth the effort under five rooms I think.
You will need at least a seperate toilet if not two bathrooms.
Kitchen needs to have sufficient storage space for five individuals – different to a family of five.
Living space does not need to be large as students tend to live in their rooms.
ADSL networked to the rooms will be a huge drawcard and something I am dying to do when Telstra lifts it’s act and services my street.
If I can help with any other info – just 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.
Jo,
What are the returns?
I run a student rental and would be happy to share my experience – give me a call anytime.
Cost you a beer next time I get to Melbourne [biggrin]
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.
Mel,
I think if you were actually married then things might be a little hazier.
As always please contact the OSR if any doubt exists – a phone call is better than either missing out or repaying the FHOG!
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.
1.Spiderman – showed the twin towers
2. Arnie
3.
4.
4. Hannibal Lecter
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.
5. They all did movies with apes?
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.
No Mel, I don’t think that would fly. They ask if you have ever been married to someone who owns a property.
Would be worth a call to the OSR if you are in that situation.
From the NSW OSR:
This is the first time you or your spouse/ de facto will receive a grant under the First Home Owner Grant Act 2000 in any State or Territory of Australia.
You and your spouse/de facto have not owned before 1 July 2000 a residential property, jointly, separately or with some other person, in any State or Territory of Australia.
You and your spouse/de facto have not owned on/after 1 July 2000 a residential property and occupied that property jointly, separately or with some other person in any State or Territory of Australia.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.
Summary on the different types of loans? This is a big ask.
Luckily there is some basic definitions on my website. Please post or email with any more specific questions.
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 bought in a bad location?
Is it too late to get out of this?
Al lthe 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 am an investor and am in New Lambton. Want to catch up for a coffee?
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 suspect your broker had some difficulty finding a lender who would do pensioner units. Did yo uget it sorted out in the end?
Well done on your reno – these things can really pay off. I did one recently and did well – looking for my next one atm.
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.
Platoon was Sgt Barnes.
Wasn’t Will Graham the FBI guy she saw for advice in silence of the lambs – red dragon was the prequel to it?
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.
Wasn’t Will Graham from the Silence of the Lambs?
Pete Mitchell Top Gun?
Just guesses
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.
