Forum Replies Created
A property is not under contract until both parties have agreed on and signed a contract.
Would you have taken a higher offer if you were the vendor?
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.
Steven has given you the relevant link.
Be sure you have never lived in this IP nor had a partner who is ineligible as 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.
When did you buy the IP?
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 suggest you consider buying an IP with a 20% deposit only. Put your remaining funds into offset account and save in there.
This will allow you to use these funds on your return for a home etc without giving you tax problems.
If this doesn’t make sense please drop me an email. It can be a little more tricky when the borrower is OS.
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 Aphex:I have already used the first home owners grant but my partner has not. However, she has bought an interstate investment property with me. Does that mean that if she purchased a house to live in under her name that she would still be eligable for the first home owners grant? For the past 2 years I have been informed that she would not get it.
When did she buy it?
If she is your defacto spouse and you don’t qualify then she doesn’t.
Derek: Pull your head in.
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 seem to be having trouble making this clear.
If you have owned property prior to Jul 2000 you cannot get the FHOG.
I you buy an IP post jul 2000 you do not lose the FHOG. Unless you move into it. Although if you move in for 6 months starting in the first 12 months you can claim the FHOG for it.
To claim the FHOG you need to occupy a home for a 6 month period starting within the first 12 month period of ownership.
Is this clear?
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.
That is quite unusual these days – I don’t know any brokers charging like that.
Some do charge a $200 fee that is refunded on settlement to make up for all the work wasted when clients don’t go ahead but most, like myself and others here, charge nothing.
I suggest that you don’t use that broker again unless you feel their service warranted the extra fee.
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.
There is a huge difference between someone wanting to look at your property and them buying it.
I would suggest you decide whether an immediate sale is better than waiting for another buyer. Your call – but I wouldn’t rely on the PM’s relatives buying after taking a look. I know I have looked at far more houses than bought by a ration of prob more than 50:1.
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.
Alee,
You need to read the legislation in full. Read this thread from the beginning and you will see that you can own IPs post Jul 2000 and not forfiet the FHOG.
You can see the legislation if you follow the links to your state from my website.
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.
Based on that you might suggest property will be less attractive to the masses and hence time for the professionals to move back in before the next strong market growth 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.
You look like a movie star compared to 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.
That is a shocking story Vinnie. There are many brokers who jumped into this industry during the boom who don’t really understand it well. I hope the quieter times will see then move on to the next money making idea.
Thank you for the kind words Stuart.
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.
So where do you think we are at on the East coast today Michael?
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.
From talking to my British friends I think squatting happens over there quite often with the associated “squatter’s rights”. It is quite a danger in the UK and I personally know landlords who have had troublesome squatters to remove and other’s who wont own IPs as it is a very real danger there.
I am not aware that we have those rights here. I have heard it is simply trespassing and dealt with accordingly.
Does anyone have any experience of this in the Australian context?
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.
Do you think this might be the “Lag” effect? Where the smaller cities reflect what has happened in the larger ones but with a varying length of delay?
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 never owned commercial property so the following is an opinion based on what I have read and heard only.
I think one of the major points with commercial property is that they can be less easy to rent out than your standard residential home. Poorly located property can sometimes suffer extended vacancy rates. Valuations are based in some part upon the return and the quality of the lease.
Having said that, once leased, commercial property should enjoy a long lease, less maintenance and a professional tenant which can be so much easier than many residential lease arrangements.
Do you think this property will be easily let in the future? Is there plenty of demand for it?
This is probably the “war winner” to use a phrase from my Army days.
Hopefully a commercial expert like Dazzling can share his experience with us!
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.
What sort of investing strategy do you believe in Badger? What markets do you follow?
I have no doubt you have a lot to offer everyone here. You are clearly intelligent.
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.
That is funny.
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.
Badger,
I never did see your TT post and I cannot comment on it.
Why don’t you give Steve a call and discuss your issues with him? There ia a contact number on the homepage.
Or you can keep moaning here about it and hope something changes.
Your call.
And please do me a favour and email me a link to any vitriolic posts regardless of the subject and I will address it. I am afraid that I cannot have my finger on every post – indeed I am only reading this one right now as I noticed you contributed [biggrin]
Have a good weekend mate
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.
There is just one clock but different areas are at different times. It is obvious that the Perth and Sydney markets are different and I expect there are micro markets as Dazzling described.
I doubt the clock was ever designed to be slavishly applied and noone can argue there is clear relationship between money flowing into Property and into Stockmarket at different times.
How would you use the clock? I guess if you buy and hold then you will make money over time regardless of when you buy.
I am trying to decide whether to buy another IP or buy managed funds for the medium term. I will eventually buy another IP but whether I do so today and hold it in a flat or declining market or whether I wait until there are some signs of a transfer of wealth from the stock market to the property market is my next decision point. I know that my current MF has made 4% in three weeks and has a 5% distribution tomorrow with no entry or exit costs. This is unlikely to be the case in my local property market.
I do appreciate all the differing opinions I am being presented and they certainly have got me thinking.
I think trading the market is quite different to my plan and I agree that there are always opportunities to make money there.
All the best to you all and keep the replies coming,
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.
