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Viewing 20 posts - 361 through 380 (of 3,735 total)
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  • Profile photo of Mortgage HunterMortgage Hunter
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    @mortgage-hunter
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    December 16, 2006 - 6:59 am

    If you know which stck you wish to buy then the cheapest way to buy is by opening an account with an online broker. Comsec and etrade are both popular.

    Your bank may offer this service and this is a good option as you can link it to your account. I use NAB online broking service for this reason.

    If you are internet savvy enough to post here then buying shares online will be easy enough.

    Cheers,

    Simon Macks
    Residential and Commercial Finance 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.

    Profile photo of Mortgage HunterMortgage Hunter
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    December 7, 2006 - 11:49 pm

    It shouldn’t matter.

    You can ask Powerloan to hold off on your application if you wish.

    Simon Macks
    Residential and Commercial Finance 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.

    Profile photo of Mortgage HunterMortgage Hunter
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    December 7, 2006 - 6:14 am
    Originally posted by wayne10539:

    Thanks Mortgage Hunter & Depreciator

    Simon i have not completed my tax return for FYE 06, am i able to claim the depreciation over the last 4 years even if the properties had been sold in the FYE 06?

    Yep.

    Simon Macks
    Residential and Commercial Finance 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.

    Profile photo of Mortgage HunterMortgage Hunter
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    December 7, 2006 - 3:09 am

    The ATO will allow you to amend your tax returns back four years – so the answer is yes, you can back claim depreciation for the years you mentioned.

    Simon Macks
    Residential and Commercial Finance 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.

    Profile photo of Mortgage HunterMortgage Hunter
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    December 7, 2006 - 3:03 am
    Originally posted by meatgroup:

    Interesting point youn have there LA Aussie…. please forgive my ignorance in respect of depreciation if I am off the mark but while depreciation is a handy deduction to have, isn’t capital gains tax still charged on the entire profit when selling an IP – effectively voiding any real benefits of claiming the depreciation in the first place.

    Depreciation is 100% deductible in todays dollars.

    CG is taxed at 50% (assuming property held for 12 months+) and paid in tomorrow’s dollars – IF YOU SELL at all.

    I would rather have two birds in my hand today than MAYBE one bird in the bush tomorrow to torture the old saying … [blush2]

    Simon Macks
    Residential and Commercial Finance 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.

    Profile photo of Mortgage HunterMortgage Hunter
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    December 7, 2006 - 12:17 am
    Originally posted by meatgroup:

    Thanks Mortgage Hunter. Ideally I would like to buy investement property that are at worst nuetral and preferably +ve but I am really struggling to locate anything that comes close.

    I figure that I am going to work for another 15years before I would like to slow down so the CG on these properties may well justify a negative cf investment in the meantime. Its the classic conundrum.

    Thanks for the advice all the same …..

    We are in the same boat. My wife loves her vocation and earns a substantial income. She wont even consider retiring for at least another 20 years.

    Negative geared property with strong growth potential suits our profile well. We intend always keeping one place as our PPOR and sheltered from CGT.

    Everyone has a different profile and thus different requirements for an IP. There is no standard rule in this caper.

    All the best

    Simon Macks
    Residential and Commercial Finance 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.

    Profile photo of Mortgage HunterMortgage Hunter
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    December 7, 2006 - 12:03 am

    What was it about Powerloan that seemed attractive to you in the first place?

    I think you should get some comparison products. You might well find that a reputable lender might offer you the same or a better product.

    The easiest way to compare loans is to use a broker. Alternatively you can try http://www.cannex.com.au

    I think you should believe your gut but I am probably not unbiased …

    All the best,

    Simon Macks
    Residential and Commercial Finance 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.

    Profile photo of Mortgage HunterMortgage Hunter
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    December 6, 2006 - 11:52 pm

    The bank will include 70-80% of the rent – depending on which lender you use. The remaining 20-30% is reserved as your cost of running the IP – rates, repairs and the like.

    I suspect that with your income you can probably afford to have several negative geared properties. Unless of course your lifestyle precludes that!

    Many people are dead against negative gearing. I think that if you find a property that you believe will appreciate then negative gearing can be justified.

    Cheers,

    Simon Macks
    Residential and Commercial Finance 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.

    Profile photo of Mortgage HunterMortgage Hunter
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    December 5, 2006 - 1:39 pm

    The study commissioned by the Australian Direct Property Investment Association (ADPIA) found ………

    Doesn’t sound like any sort of independent study so far. [blink]

    Simon Macks
    Residential and Commercial Finance 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.

    Profile photo of Mortgage HunterMortgage Hunter
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    December 5, 2006 - 6:24 am

    I know there have been studies linking Doctor’s Ties with bacterial infection vectors etc. Hence the rising popularity in Bow Ties for Medical Specialists.

    Maybe you can target some advertising to these busy professionals who might love to shop online.

    Simon Macks
    Residential and Commercial Finance 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.

    Profile photo of Mortgage HunterMortgage Hunter
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    December 5, 2006 - 2:30 am

    If the eventual sale of the property is for a lower price than your contract then you may be liable for that difference too.

    Doesn’t work the other way if he gets a higher price tho [eh]

    Simon Macks
    Residential and Commercial Finance 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.

    Profile photo of Mortgage HunterMortgage Hunter
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    December 4, 2006 - 2:46 am

    Where are you located Morty?

    Simon Macks
    Residential and Commercial Finance 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.

    Profile photo of Mortgage HunterMortgage Hunter
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    December 3, 2006 - 11:33 pm

    I suggest that if you were to use one of the two blokes above then your opinion of broker’s will change significantly.

    Cheers,

    Simon Macks
    Residential and Commercial Finance 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.

    Profile photo of Mortgage HunterMortgage Hunter
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    December 3, 2006 - 8:13 am
    Originally posted by Daryl:

    Rather than looking for a ‘right’ time to buy,
    I was simply seeking everyones perception that if this
    time of year things are definitey slowing down;
    and if it might infact be a bad time of year to purchase!

    Wouldn’t a slowing market mean that motivated vendors are easier to find than in a hot market?

    There are so many micromarkets in Australia that you cannot even begin to generalise like that. Even in my city there are suburbs and price ranges which are seeing a lot of buyers and others where prices seem to be dropping.

    Simon Macks
    Residential and Commercial Finance 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.

    Profile photo of Mortgage HunterMortgage Hunter
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    December 3, 2006 - 7:50 am

    This is really odd advice. Investors in both assett class are always buying and selling – there are always opportunities to be had.

    Of course if you are blindly buying any property or stock then it would make sense to adopt a contrarian approach as described.

    Just because the herd is buying shares doesn’t make it a bad time to buy – the demand will keep the price rising.

    Things are NEVER this black and white. Making money from shares (or property) is possible in any phase of the market.

    If those companies you asked after are listed then you can purchase shares through a broker. You will need a broker that can buy US stocks on your behalf.

    The ASX has an enormous number of companies listed that you can buy shares in. You can buy them through a broker by phone or online via an internet broker.

    Do your due diligence as you would in selecting an area to buy a house and educate yourself.

    there is no right and wrong – regardless of what people might tell you.

    Simon Macks
    Residential and Commercial Finance 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.

    Profile photo of Mortgage HunterMortgage Hunter
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    November 30, 2006 - 12:23 pm
    Originally posted by Bez:

    Thanks for the reply Marc :)

    Another thing i keep on thinking is…
    Say u have a propery that after loan payments you make a positive $10 a week…
    You put down $10,000 deposit on the property to begin with, wouldnt it take you 20years just to get your deposit back befor you “realy” start making any money on it…

    I need to keep looking but im finding it very hard to find anything that actualy gives a positive cashflow, let alone a decent one..

    The money used as a deposit isn’t spent – no need to get it back. Consider it locked away and earning money for you in growth.

    Since the large boom we have all enjoyed it is very hard to find good quality positive cashflow properties without chasing them too far out bush.

    Do some reading as suggested and meet with other investors. At some point it will all just click and then the world of investing is yours for the taking.

    Simon Macks
    Residential and Commercial Finance 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.

    Profile photo of Mortgage HunterMortgage Hunter
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    November 30, 2006 - 8:03 am
    Originally posted by kirby_pk:

    A very rough calculation i do in my head when looking at potential properties is that the weekly rental income needs to be around double the cost price (if you remove the thousands).

    That is:
    A property costing $400k needs to pull in $800 per week in rent.
    A proprety costing $140k needs to pull in $280 per week in rent.

    This is an approximation, but it is useful in quickly working out in your head how close to positive cashflow a property is.

    But these are pretty tough to find in areas where you might reasonably expect normal capital growth.

    As a property price rises then the expected yield tends lower.

    Without knowing an area then it is impossible to predict return.

    The local agents should be able to give you a feel for what rents might be achievable.

    Cheers,

    Simon Macks
    Residential and Commercial Finance 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.

    Profile photo of Mortgage HunterMortgage Hunter
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    November 29, 2006 - 11:48 pm
    Originally posted by wayne10539:

    Thanks Guys

    I was under the impression that the investment properties that i had bought were to old to be of any benefit. Obviously if Mortgage Hunter is able to claim $7000 over 3 years on a property 40+ years old, i am certaintly missing out.

    I will have to look into it further with a reputable company, can be a little hard at times as they dont service country WA that well, its hard enough trying to get a property valued at moment.

    Regards

    wayne10539

    http://www.depreciator.com.au

    Simon Macks
    Residential and Commercial Finance 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.

    Profile photo of Mortgage HunterMortgage Hunter
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    November 29, 2006 - 12:16 pm

    My depreciation guy has a guarantee that if he doesn’t get you back more than the cost of the report then youi get to keep and use the report for free.

    Given that it is one fairly quick inspection how could it not be worth it.

    I have an IP built in 1960. I have claimed over $7000 in depreciation this last three years – and for a tax deductible $660 fee.

    I reckon it is a no brainer.

    Simon Macks
    Residential and Commercial Finance 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.

    Profile photo of Mortgage HunterMortgage Hunter
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    November 29, 2006 - 6:45 am

    In addition the FHOG legislation allows for you to rent it for 364 days before you move in.

    You need to occupy the residence within the first 12 months and then occupy it for a minimum of six months.

    Simon Macks
    Residential and Commercial Finance 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.

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