Forum Replies Created
Turismo,
Can’t quite see what you are after.
Not too sure what your broker is trying to achieve here. Not the advice I would give but I might be wrong.
Can you give me a quick call and I will ask a couple of 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.
Nick Moustacous
http://www.strategicwealth.com.au
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.
In a nutshell you are getting the 2% loading on the repayment plus wrappers hope for the wrappee to refinance the property after a few years. They then make the 20% loading on the sale price. In an ideal world the property is worth more to the wrappee by this stage so it should be win/win.
Hope this didn’t over simplify things.
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 don’t think the kickbacks are as rife as the media portrays. I think it all started with a mjaor mortgage firm asking a leading bank to sponsor a conference. I doubt think individuals get much more than the normal rates.
I did get a coffee cup a year ago from a lender.
Sure some lenders pay more than others but they still often are the best choice regardless. I guess this is a difficult issue and one I don’t wish to attempt to justify.
If anyone is worried that a broker is putting them into the wrong product because of fees please email myself or one of the other guys on the forum and ask for a second opinion. I know I am always happy to help.
Cheers 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.
The simple answer is no. It is the purpose of the drawing that dictates the deductibility.
This is where an offset account is invaluable.
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 has been touted before.
I think it a good thing.
Stamp duty paid on sale helps people get into a home or IP. It means their deposit goes much further.
It also means SD is paid out of profit which is easier than finding it up front.
Most importantly it is a godsend to the buy and hold investors!
I am sure that if adopted there will be provisions for people who have paid it not to have to pay it again on sale!
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 has been touted before.
I think it a good thing.
Stamp duty paid on sale helps people get into a home or IP. It means their deposit goes much further.
It also means SD is paid out of profit which is easier than finding it up front.
Most importantly it is a godsend to the buy and hold investors!
I am sure that if adopted there will be provisions for people who have paid it not to have to pay it again on sale!
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 best way depends entirely on your aims and strategy.
You will probably need to talk to someone.
Call a banker or 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.
You seem to have quite a good grasp on the process there.
In NSW, and most states differ in the details, one can make all the arrangements verbally. Sometimes a deposit of $500 – 1000 is made but it is only really a sign of good faith and means little other than to show you are serious.
After a price is agreed the contract is sent to your solicitor who checks it and makes any changes to protect you then you sign it. It goes to the vendors solicitor and if happy they sign as well.
At this stage the property is yours subject to any clauses. The vendor cannot take any other offers. Important to note that until the contract is signed by both parties they can accept any higher offer.
Good luck with it all.
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.
Hey everyone,
I think there is no need to get too upset by what Acey has written. There are some very valid points there.
I am sure he meant nothing personal and as a moderator I take no offence at all at what he says – I welcome the opportunity of debate. Things can only get better if we keep our eyes and ears open.
Sure Acey can be a bit of a stirrer [rolleyesanim]. Don’t let him get to you team!
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 hear that cable is the way to go if you have access to it. We don’t have it here yet.
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.
Go Acey!
I have long felt that part of my role was to curb enthusiastic well intentioned, but wrong, advice.
Please feel free to drop me an email if you see something that needs amending.
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 it so will step back.
Puzzles are a hobby of mine – sounds nerdy I guess!
I do the cryptic every morning and it is good to get thinking first up!
Thanks Celivia.
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.
1st and 2nd people across. 2 min.
15 minutes left
1st goes back. 1 min.
14 minutes left
3rd and 4th go across. 10 minutes
4 minutes left
2nd goes back. 2 minutes
2 minutes left
2nd and 1st go across. 2 minutes taken
Boom
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 it is adding a level of complication to the contract that will only serve to lessen the attractiveness of your already low offer.
Tenants aren’t difficult to find.
If you think they are difficult to find for the specific property or location then I suggest it might not be an ideal buy.
Hope this makes sense.
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 a phone line to use ADSL but it doesn’t stop the line being used like dial up does.
I have a website and do a lot of biz over the ADSl, my wife is a student and a heavy user and my daughters like to get music and we find we don’t go over ever.
There are unlimited plans for a similar price if you shop around.
Try http://www.whirlpool.net.au for more info.
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 pay $59 pm for a 512 link with 8 Gig download.
Costs another $2-300 to setup initially.
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.
Negative gearing her?
I guess so – she costs me every week.
But she does keep appreciating like a fine wine so I guess I am happy to do so.
Might have to go and do another inspection I think…..
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.
Weigh two lots of three balls.
If identical weigh two of the remaining balls. If identical the third is it.
If the first two lots were different weight, then weigh two of the heavier balls against each other. If same then the third is the one.
How about something harder.
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 Pisces:>>Make sure you buy that lovely wife of yours something really nice!<<
What Simon really is saying (and perhaps rightly so as it appears as if he went out of his way to make enquiries on your behalf) is ‘What about buying that lovely wife of mine a nice present?’
Think Chan will need more than $7K to impress my missus!
[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.
