I think the colours refer to how good looking one is.

With blue and purple being a bit rough whilst red is movie star quality.

Hope this helps,

Simon Macks
Mortgage Broker
[email protected]
0425 228 985

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’m lonely,” Adam told God in the Garden of Eden. “I need to have someone around for company.” “Okay,” replied God. “I’ll give you the perfect companion. She is beautiful, intelligent and gracious, she’ll cook and clean for you and never say a cross word.” “Sounds great,” Adam said. “But what’s she going to cost?” “An arm and a leg” answered God. “That’s pretty steep,” replied Adam. “What can I get for a rib?”

Simon Macks
Mortgage Broker
[email protected]
0425 228 985

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.

Market doesn’t experience the same growth nor does it have the same vacancy rates.

Cheers,

Simon Macks
Mortgage Broker
[email protected]
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Stolen from another forum but remember…

A friend comes to bail you out in the morning, but

A true friend will be there sitting next to you saying “That was fun wasn’t it!”.

Cheers,

Simon Macks
Mortgage Broker
[email protected]
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

After 12 months you shouldn’t have too many problems if you use the correct lender and sell it to them properly!

Hope the market for those properties continues to strengthen in the meantime.

Cheers,

Simon Macks
Mortgage Broker
[email protected]
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

My recent one was just a student rental place. Brick 5 bedrooms and was once a beautiful home.

So my endgame result was to have somthing still for students but that would val up well and command the higher end of the rental market.

The place was a disaster and hadn’t been cleaned or gardened for years – I mean maybe 5 years.

So we rediscovered the front and rear garden (this poss added the most value) cleaned and painted every interior surface. Replaced the kitchen with a big budget melamine and formica job with stainless steel handles which actually looks pretty good. Retiled the kitchen floor. Lastly we White Knighted the bathroom, new vanity and new showerscreen and new tapware.

All up we spent about $7000 plus a lot of time. It was empty over Jan and as my wife is a student herself we had the time.

We bought for $315K and it has since been valued at $390K. Rent is $515pw and filled it immediately. I think we went too cheap and could have got maybe another $50 pw but we want these kids to stay all year and maybe next year so we aren’t complaining.

Now if I was renovating to sell I would have spent a whole lot more money on it.

Cheers,

Simon Macks
Mortgage Broker
[email protected]
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

there used to be different rates but no longer.

Stamp duties are controlled by state governments not the banks.

The difference now is that if the loan is for personal use it is regulated under the UCCC (Uniform Consumer Credit Code).

There is a greater degree of protection afforded to loans for personal use. This covers the whole range of lending including store cards, car loans, homeloans etc.

Cheers,

Simon Macks
Mortgage Broker
[email protected]
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Simon,

Having a think about your situation and think you should consider the following.

Your savings are tied up in the current property. With some growth and some repayments your loan will be well under the 100% mark.

Consider moving into the place and claiming the FHOG. I think that this can be done since you have owned it less than 12 months. Ring your solicitor.

Use the apartment as security to buy another investment borrowing every cent you spend on the new place.

This may well be more efficient tax wise as you may have the larger loan on the new IP and the smaller on the old one.

Obviously we would need some more info to tell if this strategy is viable. Just some food for thought.

Cheers,

Simon Macks
Mortgage Broker
[email protected]
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Surely it is when your net worth is over $1M.

Cheers,

Simon Macks
Mortgage Broker
[email protected]
0425 228 985

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 hold investment properties.

I have done reno’s, rentals, student rentals, land subdivisions and dual occupancies.

Actually the student rental is a reno too and I have been pretty happy with the new valuation and also the demand and rental I am finding. It is 5 bedroom and I reckon I could have filled 15 with top quality students! Looking for another one atm.

What do you hope to gauge from asking how many? Is this some sort of a scoring system?

I mean a chap might control a Million dollars worth of IP’s, but what does it matter if there are two or twenty involved? I am rambling on now…

Anyway 6.69% for 2 years, 6.79% for 3 and 6.99% for 5 years are my going rates. From a lender I used myself for my last property purchase too.

Cheers,

Simon Macks
Mortgage Broker
[email protected]
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.