Please don’t use my advice as any authority to commit fraud. I said that you had to move in within the first year for a 6 month period. Your lawyers are wrong – no surprise there.

If a person does not move in before the end of the first year and stay there for at least 6 months then they are defrauding the Commonwealth and are a criminal.

Lets not all wink and sugar coat it – this is theft and they will probably be caught and fined. They may end up with a criminal record out of this.

I expect that you are intending on moving in before the year is out. This is no loophole – it is exactly what the legislation describes and allows for.

With that in mind then you should lodge the bond with the Bond Authority in your state – you have nothing to hide.

All the best,

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[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.

If you believed it was a good investment then there is no reason why you couldn’t.

Do your research though.

Cheers,

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[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.

Being strongly influenced by the university our local rental market is at it’s strongest in Feb and at it’s weakest about now.

I don’t feel too much concern. I doubt the sky is falling.

Did you read this article Clones? Perhaps there is some hope on the horizon for us poor property investors [blink]

HIA Media Release “Sydney Faces Rent Crisis”
12 October 2005

SYDNEY FACES RENT CRISIS

Sydney councils have been urged to speed up approvals for new apartments
as Sydney is caught in the grip of a looming rental crisis.

New research by Australia’s Peak Building Industry Group, HIA, reveals that
within the next 18 months, Sydney will quite literally run out of vacant rental
stock.

HIA’s NSW Executive Director Wayne Gersbach said that with Sydney rents
already increasing faster than inflation, urgent and immediate action must be
taken to get apartment and medium density projects into the construction
pipeline rather than being locked up in councils at the approval stage.

“While the merry-go-round of arguments relating to planning, zoning, and
sustainability continue, the unstoppable force of housing demand will further
drive up rents and squeeze modest and low income earners,” Mr Gersbach
said.

“Sydney’s supply of rental dwellings increased by only 14,500 in 2004/05,
down 13 per cent on the previous year and sending the rental vacancy rate
plunging from 3.6 to 2.5 per cent,” he added.

“With rental investment lending in NSW still down some 40 per cent on 2 years
ago, and with 14 consecutive months of sub-2000 new unit approvals, it is hard
to see us adding more than 10,000 new properties to the rental stock over the
next year.”

At this rate, the Sydney rental vacancy rate will plunge to zero by Christmas
next year.”

“Clearly this pressure will drive up rents, affecting savings and consumer
spending at a time when the NSW economy is already spluttering. More
importantly however is the negative impact it will have on housing affordability,
as those rental households who aspire to home ownership see their savings
eroded,” Mr Gersbach said.

“With an estimated 4,200 flats, units and apartments stuck in Sydney local
councils at present, some of which have been waiting final approval for over
two years, urgent and immediate action must be taken to not only get them
signed off, but to minimise the additional conditions and sustainability
requirements that typically add tens of thousands of dollars to the final price of
each unit.”

Website: http://economics.hia.asn.au

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[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.

The more experienced investors invariably choose IO loans. Even on their PPOR.

Cheers,

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[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.

Why don’t you use the search function and see what you can find – there has been plenty of dicussion about them in the past.

Cheers,

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[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.

Nathan you will never live up to your Nickname if you just use free legal docs that aren’t tailored to your needs.

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[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 think it boils down to two things when deciding on a broker.

That he has your best interests in mind all the time, and

That he understands what investors need – not just done mum and dads home loan and topup for a boat etc.

How do you find that?

I think the only way is through a referral from someone you trust.

So ask around is my advice.

Cheers,

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[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.

Nick Moustacas http://www.strategicwealthmanagement.com.au is in Sydney and is very good.

Cheers,

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[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.

What will your clubs aims be? To share info or invest together?

Why do you have a submission closing date? [suave2]

Cheers

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[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.

Can do 6.29% with offset and $150pa fee.

Because you want the offset we cannot do a simple “no frills” product with no fee.

Please don’t let a banker convince you that redraw = offset. There are significant differences.

Cheers,

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[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.