Forum Replies Created
A referral like ADs would go a long way with me if I was after someone in Melbourne to help me out.
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.
This is very much an American phenonomen where properties are sold for enough to cover the outstanding amount owed.
Here in Australia lenders are required to sell for market value – hence most properties go to public auction. They may be advertised as mortgagee in possesion or such but this doesn’t mean an absolute bargain basement price.
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.
Quote:Originally posted by Scremin:Just thought I would add to the discussion… A few years ago when I was on my 10 week final prac for teaching, we did a health bit about soft drinks with year sevens.
We found out that one can of coke has at least 13 teaspoons of sugar. One of those Red bull drinks has more than that plus enough caffeine in them to equate to nearly two coffees.
I read that a school kid eating a choc bar and a can of coke is having the caffiene equivalent of 6 coffees. I don’t know if this is true but can’t be good for a little kids regardless.
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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.
Surgeon was the mother.
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.
Have a huge drink of water before bed.
Go for a good sweaty run in the morning and drink more water.
Eat something greasy. Cold pizza from the box you find under the coffee table is perfect.
Painkillers.
I have never had a hangover but saw these work for others when I was in the Army.
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.
Pro packs used to be targetted at professionals – whatever the different bank’sdefinition of that was!
Banks didn’t advertise them as they preferred not to give the discount if they didn’t need to. They were used to attract high quality borrowers.
Brokers became very active at selling them and passing the benefits onto anyone that qualified. This has caused a major paradigm shift within the industry and all references to profession and income levels have since been removed.
Today they are purely based on loan size.
Thank the brokers for this one folks!!
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 can see Rob’s point. I think he is just highlighting something to consider rather than a cause for alarm.
In your circumstance I wouldn’t be too concerned.
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.
Well said Steph,
Nothing disarms a person more than by being nice to them [biggrin]
Look forward to the three of you continuing to contribute in a positive way. I have spoken to you all by email and here’s the thing – I have no doubt you would all be friends under better circumstances!
All the best to you all,
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.
Qu.1) During this first year, the property will be available for lease but I’m not going to rent it out. Is the interest still tax deductible?
Clearly it is not available for lease.
Minimum timeframe to occupy for the FHOG is for 6 months starting within the first 12 months of ownership.
Better get some professional advice my friend.
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.
One idea is to keep it, use the rent to pay down the PPOR debt and use the security to borrow against for your cashflow pos properties.
If you sell you will have to meet additional costs.
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 think you two need to get together for a beer or a coffee and swap notes.
This is quite a normal way for people to make money in real estate. I am considering a project myself at the moment.
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 would strongly recommend you call the duty planner at the relevant council. In my experience they are very helpful and will happily outline all the council costs.
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.
David,
It just isn’t as easy as this. I would need a lot more info before I could give you any figures or ideas.
Why don’t you give me a call or give Rob the Advisor a call. A few well placed questions should get you headed down the right path.
Cheers and 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.
Being WA it is probably brick. Less material to be salvaged and resold I imagine?
I am looking into the same for a timber house. Seems some folks will take them for free or demolish them for scrap as suggested.
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 two key points for new lending is equity and serviceability. If both are OK then a loan is achieveable. If one is poor and the other is strong then it still should be doable. If both are poor then we need to work hard!
All depends on what price range you are aiming for, also on your goal.
Get a broker to run some figures for you and see what he suggests.
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.
Pisces is spot on but I might add just a little extra.
Consider paying it into an offset account rather than into the loan.
The advantage here is that if the PPOR becomes an IP and you buy another PPOR then you can draw from the offset and still claim the original loan on the tax.
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.
Shouldn’t be any fina at all.
Some lenders have a deferred settlement fee which kicks in, usually in the first five years, if you pay the loan out early.
But if there is one it will be spelt out in your loan docs.
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.
Now we will never shut him up.
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.
Derek is referring to the 6 year CGT exemption one enjoys after moving out of their PPOR for any reason. This continues for 6 years unless they buy another PPOR.
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.
Quote:Originally posted by DeClair:I see, though isn’t this similar to Aussies mobile lenders?
I think the ANZ franchisees will be mobile lenders selling only ANZ products.
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.
