Forum Replies Created
I see they are planning to use superannuation funds.
Perhaps they are looking for the payoff to be at a later date which would suit younger superannuation contributors?
I am the first to admit that sometimes these things aren’t as simple as they look.
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
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.
Originally posted by foundation:Originally posted by Mortgage Hunter:
Not sure if they will let Buy and hold investors use it [biggrin]They claim they will!
Of course, you have to put in a minimum 50% of valuation (they don’t lend above 50%), and for that, they’ll take around 80% of the capital gain…
The problem would be finding the remaining 50%, assuming the title is held by Greenway.
So probably not so good as an investment tool.
Wow that is attractive ….
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
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.
They lend you the money. When you sell the property you repay the debt plus a share of the capital growth.
Not sure if they will let Buy and hold investors use it [biggrin]
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
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.
Immigration?
Perhaps you should be factoring this in and buying properties that will appeal to retirees? Seachange, no stairs etc
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
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.
Those presenters are pretty well respected speakers and investors. I wouldn’t be too concerned about them scamming you.
Their product is simply a tool. If it works for you then use it. If it doesn’t then don’t. But make sure you completely understand what you want from an investment before you start.
All the best
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
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.
Originally posted by kp:Hi Markat
I came across these guys recently.
They have one solution that may work for you.
Spent two days with one of the directors, and came away impressed with both their bona fides, as well as the system.Essentially, they have a full asic approved pds in place, to raise funds for their developments, on which they pay between 12% & 15% monthly.
If you draw down on an LOC to buy into the fund, then it generates pos cashflow, which you can use for additional servicability, which allows you to keep adding property to the portfolio.
They are primarily property developers based in Brisbane.
May pay you to have a chat with them.Standard Disclaimer: I am not affliated, not do I receive commissions, or referral fees, or am I recommending their product or system.
Kevin..
I don’t know these people but be aware that this is high risk stuff. They pay above bank rates to borrow your money for a reason …..
Westpoint ring a bell?
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
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.
Originally posted by chris67:As a footnote, I want to say we have a fair amount of cash, which we eventually want to use to fund our next PPOR in the next year or so. We prefer to do this without having to take a further loan.
Whatever you decide to do – DO NOT put any of this cash into an IP loan. Use an offset as Derek suggested but don’t use it to reduce an IP loan directly!
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
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.
Originally posted by rozan:I think the above comments are correct if the rented house was claimed as your PPOR (and you didn’t claim another).
Both of the above posts made that very reservation but you are quite right.
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
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 understand your enthusiasm.
The market is not moving up at the moment. Any purchase you make should be considered medium term investing at least.
My point is that should you decide to save a decent deposit over the next 12 months then I don’t believe that you will be paying a higher price than if you bought today. In fact many people are suggesting that you may even buy cheaper.
I put it to you that spending 12 months saving and researching your market might be a better strategy than leaping in with 100% borrowed funds now.
Of course I am no expert ….
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
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.
Good idea to talk to someone with 5 IPs if you aspire to also being a property investor.
Having ideas about potential growth is also good.
I am guessing you are at High School. I wouldn’t get too caught up in picking a location right now. Wait until you are closer to buying.
What you should be doing now is visiting sites like this, talking to investors like your teacher and planning how to get the deposit together to buy that first IP. Buying an IP at 18 is something you will not rtegret. I only wish I had someone to get the idea implanted in my head back then. Unfortunately in those days we had no internet, no magazines and few books on investing. It was something a select group of older people did and I knew none of them…..
You have a bright future assured if you are already planning it!
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
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.
What do you hope to get from an Investment group that cannot be obtained through these pages?
Not trying to be a wet blanket – I am genuinely interested?
I know of many groups of like minded people who meet monthly to swap ideas etc. Melbourne, Perth, Canberra, Sydney and Brisbane all have one that I know of.
Non profit groups run by the members – nothing is sold or promoted.
Drop me an email if anyone is interested telling me which city you are in and I will let you know who to speak to.
Cheers,
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
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.
Originally posted by cruiser:Dear oh Dear
These posts just show the extent to which those concentrating on making money as their number 1 aim neglect to keep up with other issues.
Sigh.
Simon,
1. No it is not illegal.
2. Women who enjoy women-only spaces are not necessarily intimidated by men although many have reason to be. Women enjoy women-only spaces for a whole host of reasons, just as men enjoy men-only spaces. That might just be enjoying your same sex friends.3. Men still hold most of the power in most of the world in every facet of life. This is not enough for you? You still want to muscle in on organisations set up specifically for women? How greedy and, it has to be said, typically male, is that.
4. What disadvantages do women face as investors. You’re joking, aren’t you. Aside from the fact that this is not the basis of having a women-only organisation – women enjoy having other women-only spaces just as men enjoy men-only spaces and despite what you say, Simon, there are still many of those; – yes, there are significant disadvantages which women will be well aware of and the fact that you are not just shows how entrenched in your male privilege you are. You have obviously never talked to women about how it is for them, talking to real estate agents, or tradesmen, or any area of life where men think they know better than women (just about every area). Generally, men get treated with greater respect, deference and advantage than women. Many women experience this every day of their lives. Of course, there are exceptions depending on personalities and skills. But this is the general experience of most women.
Wow.
Someone sounds a bit bitter.
I was quite supportive of the group and indeed wished it every success. Did you miss that?
Trying to muscle in? Never mentioned that either.
Making money is my number one aim? Where did that come from? What basis do you assume that? I think you would be surprised at how little money I do make and how much time I spend helping people examine and rethink their situation for free. Of course it does help that I retired 6 years ago to be a stay at home father. Bet you didn’t pick that one. Do you really think I would spend so much time on forums if I really was focussed solely on making money? Advertising and getting clients I bet you are thinking? The few emails I do get from people looking for a broker are nearly always replied to suggesting another broker a little closer to their location. So few people from Newcastle seem to be here …..
You suggest that I think I know a lot about women? I am the first to admit that I learn more and more about women every day and am far from having any sort of complete understanding of them. With a career wife and two daughters I probably have more opportunity than some but just when I think I am getting a handle on how they think something occurs to remind me how much insight into the female psyche I lack.
Methinks you are quick to react and didn’t make the effort to read what I actually wrote. Dare I suggest you try and understand where I am coming from.
You say that I obviously never speak to women about their discussions with industry professionals? Women make up well over 50% of the few clients I work with (when I say clients I mean those I actually end up with a commission from helping them arrange finance as opposed to all the people I talk to via email and telephone chatting about ideas for their situation or just explaining concepts new to them). I find that with couples it is often the women who look after details such as mortgages. Those I deal with seem OK that I am not a woman… Perhaps I am too confident in my ability to get along with them and should perhaps suggest that they seek a broker who is better able to treat them with the respect they need – as only a fellow woman can
You argue by making generalisations and making a number of assumptions about me. When we remove this hubris it seems you have said very little.
I guess I cannot argue that I am typically male. You got me there. I don’t even know what is typically male these days. You even make it sound like a bad thing? Are you typically a member of whichever gender you are? [blush2] Maybe I am not quite typical, now that you know me a little better am I still the monster you thought I was earlier today?
Thanks for your post, I learn a little more each day about life – today being no exception.
Just to restate my position. I wish the women only group all the best. I hope that it isn’t a grouping of ladies who are intimidated by men and wish to avoid them. Rather I hope it will be a collective of modern day investing Amazons who will pave new paths in the emancipation of female investors.
Anyway time to put the lead on the dog and walk to the primary school to pick up number two daughter. We have a convict outfit to get finished tonight and what with my wife away on business it falls to me. Any tips? We chose a convict as Emily did not wish to be a settler’s wife or an official’s wife. Pretty poor choices given by the school I think….. Why can’t a little girl be a settler or official in her own right?
Not quite the image of the ruthless businessman just focussed on money I hope?
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
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 have been to one of these and would go again if it wasn’t a 10 hour return drive.
For anyone living in the ACT or surrounds and interested in property investing must attend and start networking with likeminded folks.
Cheers,
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
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.
Originally posted by Dr.X:Sorry but I have to agree with Simon here!
You are apologising for agreeing for me?
What am I – some sort of pariah?
[blush2]
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
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.
What are your goals? Have you decided on goals?
Are you looking to replace your current wage?
Or, are you looking to build long term wealth?
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
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 will have problems getting finance. These places sel lwith higher yields as they are unpopular. Make sure you know exactly what you are getting before you sign any contracts. Some pretty slick salesman are employed to sell these.
i would counsel against them myself but I am no advisor ….
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
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 are claiming the depreciation now and it does increase the CGT assessment. But as this is halved it is better to get it now and help with cashflow.
If you sell the property in 20 years time then pay tax on 50% with 2026 dollars and take a refund today at 100% in 2006 dollars.
I know which I prefer.
If you are a buy and hold investor then CGT isn’t an issue …
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
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.
They are essential.
You get a report detailing what depreciation you can claim on your tax for all the fittings, furniture and even the buidling if new enough. A modern apartment can get you an awfully big refund – even if pos cashflow….
Given that my QS has a guarantee that if he doesn’t get you more than double the reports cost back in extra tax refund he wont charge I cannot see why you wouldn’t get one done on every property.
My guy is very good and covers the whole country. If anyone wants an intro then please drop me an email. Nothing in it for me except maybe a beer from him [biggrin]
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
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.
Originally posted by mathewc73:Simon dont be overly upset not being invited to exclusive womens business.
Not upset.
How is developing an exclusive women’s business?
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
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 the guys above have said this is a whole different ball game to resi finance with fewer “out of the box” products available. Most things are tailored and you need to find a good commercial finance broker who can approach multiple lenders and negotiate a best deal on your behalf.
All the best
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
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.
