Forum Replies Created
I am in NEwcastle – happy to catch up for a coffee if you like and discuss our investments!
I usually recommend a chap in Sydney to people. As far as Property Accountants go I don’t think there is such a thing. If you mean accountants who have experience in ownership structures then I can give you a couple of names if you like.
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.
Sorry – no advertising.
Please contribute to our forum as you are obviously a fellow with a lot of knowledge.
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 wilandel:Hi Marty,
Sorry Simon, I think Prosolution would be hard to beat. Of course I haven’t tried yourself yet!
Prosolution operates at all times with ethics, which is rare these days. (Simon excepted)..[biggrin]
Del,
What on earth are you apologising for? I agree with everything you say! [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.
Well he must be selling something?
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.
All other things being equal I would prefer a house for CG.
However all things are rarely equal so you will need to research well!
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.
Some people manage to trade their way to greater profits coming in and out.
You know I have been through three booms since I bought my first property. Looking back my single biggest regret is that I didn’t adopt a buy and hold strategy, rather I took profits as I went but didn’t buy back in until the booms were well and truly established.
Unless an investor is particularly active and astute I would recommend the buy and hold strategy.
This is quite a topical issue and I would like to see other people’s ideas.
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 don’t of course, however I am familiar with them and would strongly recommend them for finance.
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.
You get the loan when you buy the property. you can apply yourself and submit it direct or through your lender.
If you haven’t lived in the property after 12 months then you must repay the money.
As the new lease has started you will be able to move in at the end and be within the 12 months.
It is definately 6 months. Whoever told you three doesn’t understand the rules. Don’t be taking too much advice from them [biggrin]
My website can direct you to the legislation for you to confirm it.
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.
Yes. They have specialised in melbourne and do all their developments there.
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.
Wake at 6am to see what Santa brought.
Have a huge feed for lunch and a few beers.
Play some backyard cricket.
Have a snooze on the couch.
Pretty standard stuff!
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 investingracer:I heard that these units still go up in value. Probably by a small amount, but they also seem to have very good +ve gearing. And the bonus is that they are cheap with virtually no vacancies in this area.
Of course they get good rent! Purely because the purchase price is low and this is because demand is low.
I am not saying not to get one.
I am saying they are not IP’s. More a business decision. Not even sure that you can get a mortgage for them?
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.
This shouldn’t really even be considered as real estate. It is more like an equipment leasing enterprise.
The total price will be depreciable, but you will have no land value appreciating.
I personally would not touch these.
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 need to move in within 12 months for a period of 6 months.
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.
Some points.
PPOR when rented becomes an IP. No problems there with the ATO or anyone else.
You get a 6 year CGT exemption when you start renting it. If you sell within 6 years you don’t pay tax on any profit.
If you buy another home this is then stopped as you can only have an exemption on one home at a time.
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 Jenny1:My nephew started his business from his bedroom at 16yrs he expanded and rented a small commercial property. At 17yrs he has his own company but couldn’t be Managing Director until his 18th birthday.
His business has expanded and he moved to larger premises. He turned 18 in May has legally become Managing Director of his business and employs 8 full time people.
His business turns over $40,000 per month and is still growing rapidly…am I proud of him? You bet,[biggrin] he works very hard to get where he is, and is now asking me for advice on property investment.
He has no intention of retiring as he loves what he does.
Jenny1
That is so impressive! Can I ask what type of business it is?
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.
A signwriter can knock you up one with your number on it for about $50. Less if you buy several.
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.
Steve Navra is a good guy and I have done his seminar and recommend it. The fee pretty well covers his costs.
The cashbond is exactly as described but with the easing of NODOC and LODOC rules it is one avenue among many to get around lower serviceability problems.
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 know MY and would have no hesitation in using his services.
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.
Appointment with the Gynaecologist.
A Sydney radio station paid callers between $1000 – $5000 for people to tell their most embarrassing stories.
This story netted the $5000 prize.
“I had an appointment with the gynaecologist. On the morning of the appointment I received a call from his office to say I had been rescheduled for earlier in the day at 9.30am. I had only just packed everyone off to work and school and it was around 8.45am already.
The trip usually takes 35 minutes so I didn’t have any time to spare. I always like to take a little extra effort over hygiene when making such visits, but this time I wasn’t going to be able to make a full effort.
I rushed upstairs, threw off my dressing gown, wet the washcloth and gave myself a wash in “THAT AREA” taking extra care to make sure I was presentable. I threw the washcloth in the clothes basket, donned some clothes, hopped into my car and raced to the appointment.
I was in the waiting room only a few minutes before I was called in. Knowing the procedure, I hopped up on the table, looked over at the other side of the room and pretended I was in Cairns or some other place a million miles away from here. I was a little surprised when he said “My, we have taken a little extra effort this morning haven’t we?”, but I didn’t respond.
The appointment was over, I heaved a sigh of relief and went home. The rest of the day was normal – shopping, cleaning, cooking etc. After school my six year old daughter was playing and she called out from the bathroom, “Mum, where’s my washcloth?” I called back for her to get another one from the cupboard. She called back, “NO, I need the one that was here by the sink. It had all my glitter and sparkles in 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.
Or did you mean NODOC? Now 70% at a standard resi rate.
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.