Forum Replies Created
Don’t scare her with such big ideas. The challenge is to buy your first IP, then your second etc etc
By the time you are looking at your third one she will be comfortable with the idea.
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 lstreet:Hi everyone!
Im in abit of debt, and was wondering if anyone had a good strategy to help me get out of debt so i can get my credit rating back so i can INVEST!
lstreet
I have a long document I can email to you. Please drop me an email if you would like to see it.
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.
Start off investing based on fraud and you will end up doing worse things.
If you do claim depreciation etc you will lose your CGT exemption which is worth more than a few bucks a week.
i suggest you just listen to mates who are where you want to be investment wise. Who will take the fall when the ATO seek penalties from you or lay criminal charges? bet your mate wont be by your side then.
Stay upright and within the law – there is plenty of money to be made legally plus you don’t need to compromise your integrity to do it.
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.
http://www.strategicwealthmanagement.com.au
tell Nick that I sent you [suave2] I don’t get a kickback but am hoping he will buy me a beer!
Seriously, he has a devoted bunch of investor clients.
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.
A NODOC loan will do the job but the drawback is that you need a 30% deposit plus costs to get one.
You may qualify for the FHOG and stamp duty discounts which will help somewhat.
Is a good idea – I have five uni student tenants paying me $550 pw for a house I rent to them. If one opf them was organised he could buy something similar and rent four rooms to cover his mortgage!
But none of them are which suits me!
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.
Quote:I’m currently doing the push bike thing to try and get fit.. riding 50 minutes to work on a Trek 4900 mountain bike.Is it working? Your times getting better?
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.
Jenman agents are getting less and less every year. I doubt you will benefit much by talking to him. I wouldn’t. He wrote a book that panders to every ill informed persons prejudices against agents. Is like the ACA in print.
I suggest you speak with both agents and go with the one you think is best. If you choose the smaller then he should be OK to get access. It all depends on your tenants cooperation. If he gives you trouble then perhaps sweeten the deal by lowering his rent for the period.
At the end of the day if the house is advertised then the buyers will come. An agent doesn’t talk people into buying a home – the home does. He simply tries to smooth the path.
Why are you selling?
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.
When you move out and make the property available for rent all costs inc interest should be able to be deducted against your income tax.
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 has got you thinking of investing in Vanuatu?
Was it the recent news story saying it’s people had the worlds best lifestyle or happiness rating or whatever it was?
Do you know much about it?
Would like to hear what makes a person consider such an unusual place. no offence meant – I am truly interested.
I have been there once in 1990 and thought it a lovely place with the friendliest people.
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.
Give Terry a call and run your situation past him. I am sure he will give you some reasoned advice. If you like what he says then you might wish to appoint him to act for you as a broker. He is very good.
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.
Where are you?
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 have a 6 month period during which you can claim the CGT exemption on both properties – as long as the first is being sold. (Not sure if it has to be sold or not in that time). After 6 months you will pay CGT – but given the current climate and the 50% exemption it shouldn’t be much.
If you anticipate holding it for a while it might be best to get a valuation done now so as to lock in the big gains made in the last few years and not have them pro rata’d out over the rented period.
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.
Increasing the rent is always a positive thing – as long as the market can bear the increase.
Most investors use IO. Esp if you plan on buying more IPs. If this is to be your only one then the choice isn’t so clear.
Hope this helps.
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.
Just say that the loan purpose is for investment – shares. once you have the money you can change your mind.
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:A 12 month lease from Jan/Feb is best and it will minimise your vacancy. However you need to plan for it as once a semester starts you may have trouble filling a vacant room.
…..a 12 month lease will be seen as undesirable to students and yours will fill last. If they break the lease what wil lyou do? Remember they are students with no jobs and you have 5 or 6 of them.
Be sure you manage it to the letter as I bet if your student takes you to the tribunal you may have a hard time! Im not sure if there are additional requirements for student leases.
Or you can be really cheerful and friendly and look after your students so that you never go near the tribunal. Thats what I do and they invite me to their parties even! I went to one and they had covered the carpet to the toilet with cardboard so as not to get it dirty – I would never have done that!
Any services that you provide be sure that the correct responsibilities are passed onto the student in the lease. eg you dont want a visit from the police becuase of certain things the students found on the internet!!!
Most important (well I think there is a morale responsbility) this is the kids first time out of home so be sure you comminicate with them and key an eye on them.
Mat
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.
Different lenders have different times – sometimes they get backlogs. A decent broker should know who is slow.
But you have plenty of time. I wouldn’t like to see you leave your decision with less than four weeks left. But the longer you allow the easier it will be.
I have settled a loan in 12 days with a major lender but that was by calling in favours.
Rather than shop around why don’t you call a broker and ask him direct. He should have most of the mainstream lenders available along with a decent selection of minors.
Some brokers will boast that they have a large amount of lenders on their panel. But like in most areas 80% of our business goes to the same 20% of lenders. Why? The pessimist will say that those lenders pay the most to the broker. But the real truth is that there are usually clear leaders in all the different loan scenarios. You sound rate conscious so I know who I would be suggesting already . [blush2]
but don’t worry – you have plenty of time to make your decision.
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.
I have a five bedroom place I rent to students by the room. I think it is probably quite different to what you propose.
my council does not have a policy on a house with less than ten seperate let rooms so I am not classed as a boarding house.
If you think I could help just give me a call or post some specific questions.
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.
Grass = Lawnmower
Is there storage for it?
Paving is a good idea with pot plants. Do them in two layers with taller plants against the wall and smaller ones in front for an effective look. Run some drip lines along them with a timer for an easy care courtyard.
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.
When I was in the Army we were told to make sure our leases had a clause that if we were moved by the Army that we could show written evidence and end the lease without penalty. Rarely did I have to write such a letter for my soldiers.
Is this guy actually on a ship or a shore posting?
If he was a good tenant in all other respects and there weren’t a lot of other choices then I would take 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.
Don’t worry about stability. You have their money [biggrin]
If they do close doors then your loan should be sold to another lender and will continue under the loan conditions in the mortgage documents.
But don’t base your choice purely on cheapest rate – make sure you factor in all fees and any penalties for early repayment.
Most honeymoon rates revert to a higher rate for a set period – typically 4 years. Overall you pay considerably more than a basic variable rate. I rarely sell a honeymoon rate after showing the client the real cost.
There are major lenders offering similar rates to the ones you quoted. Some people prefer to be able to visit a branch rather than do it all by phone or internet. Though given you found this forum you are probably not frightened of doing your banking online [biggrin]
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.
