Forum Replies Created
I concur. Must be against your home.
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.
AUSPROP I know that the Australian market has reached record highs recently but are you suggesting that a new high is the end of the boom? You think we are looking at the end of the rally? Why is that?
I am yet to see the media attention on the sharemarket that we saw in the last booms. I also don’t feel that the average person is into the shares yet. Usually they all climb aboard towards the end.
Where do you think we are on the clock and why?
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 heard that the bulk buying ability of major builders sees tiles the cheapest.
Is this the same with smaller builders?
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 was wondering about thermal qualities of colourbond? But with the foil underlay and insulation it is prob similar?
As a kid we had a tin roof – we all loved the noise from the rain – even my daughter today has commented on 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.
Glen,
I have been putting some thought into the economic clock myself for my own investing.
I feel that we are at about 6-7 O’Clock mark at the moment. I doubt we will see falling interest rates as they are still near an all time low but I do expect to see further strengthening in the stockmarket.
I think the real estate slump is close to bottoming but we may some period of stagnation before it takes off again. We need to have a stock market boom first. So I think that when I hear all my friends talking about the share market being the place to invest it will signal the end of the share boom and time to be positioning myself in real estate again.
In actual fact as it is not a simple matter to pick up the phone and buy property I need to start somewhat earlier. During the share boom I imagine when people are moving money from property into the stockmarket.
This being an area of interest – I would love to hear others thoughts.
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.
He is suggesting that he will get them finance as their broker. So if they wish to buy, he then tries to find them a loan.
I guess it is something you can add to your advertising but nothing really unusual or special in what he is offering. Any lender or broker can do that for you.
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.
Jason,
I really don’t know them well enough to speculate. I think if one was to choose this path (and I am in no way recommending it) then they could very quickly work out what they could afford to hold. I imagine growth properties might be the goal so one would expect to negative gear.
There are a number of new properties available now in the $200-300K range that have good non cash tax deductions to help. I know that a good rental property can be found in my neck of the woods for about $250K. These would be relatively hassle free. With a bit of ingenuity one could spend $350K and get a return of $500 pw – this was my last purchase.
I don’t counsel anyone to embark on any sort of buying spree without doing plenty of research and learning – this is not a bull run where buying anything makes money immediately. There are plenty of experts out there who know nothing except the recent boom. I even met a REA who was 24 who told me that property never goes down!
So keep your eyes, ears and mind open and do a lot of research before deciding on any strategy is my advice to the good MCUBED!
What do you think?
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.
Derivex was a very contentious subject here at one point leading to all sorts of problems.
There is nothing happening re Deriovex as noted on their website. It also seems likely that it will not be launched in the forseeable future.
As to why – this is between the staff there and ASIC. I doubt anyone else knows the truth. Everything we get here is pure conjecture.
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.
Vinny,
There is no exact template to give you.
A lot will depend on your goals and your situation.
Some general things to consider are:
Ownership structure
Interest Only vs PI
Use of Offset rather than redraw
Etc etc
You should probably sit down with an accountant and a broker for some ideas.
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.
http://www.abc.net.au/news/newsitems/200509/s1470172.htm
I didn’t see the program and I wonder what there concern is?
Anyone know?
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.
Try a lender that uses a different mortgage insurer? Likely to get a similar result but worth the attempt if you really want this one?
We can check the postcode before any application. Just need postcode and the mortgage insurer you used.
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.
Just thinking Foundation….the ANZ have just published that the current slump appears to be one of the milder on record and may end sooner rather than later.
Property has historically doubled every ten years.
You think this time will be different? I recall from my share days that the saying “This time it is different” was usually fatal
I am not saying you are wrong but would love to see your research and results. It may well influence my strategies.
All the best
[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.
Wow Foundation – I always thought you were more courteous of other people’s ideas than that.
Sorry that I upset you by posing something counter to that which you expouse..
But everyone else please understand that I am advocating no particular strategy. Just providing food for thought so that people consider all possibles avenues.
Have a super week Foundation.
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.
Absolutely you can pasandbec. You can do whatever you like. But lets consider some numbers.
What will IP’s cost in 10 years time? Historically they should double. Booms seem to be every 10.4 years and 100% growth is conservative.
So if a hypothetical person was to pay IO on their PPOR worth $300K and buy two other places worth $300K they will control $900K of property that doubles in 10 years. Thus having a portfolio worth $1.8M with say $800K in debt. Selling one IP at this point will clear their PPOR debt and most of the remaining IP debt – if they chose to.
This achieves the goal of paying down the PPOR in ten years and possibly avoids the scrimping lifestyle that is being discussed.
Or they can pay down their home in ten years. Have a home worth $600K and then buy some IP’s at $600K each.
Comments?
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.
Fits my mental image of our Dazzling – mullet and all!
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.
Why would you want to pay it off so fast?
That sounds like my grandparents thinking – they only ended up with the one property.
Why not pay it off over the longer term and buy more property as you go?
When you are reaching retirement you can sell one investment property that will prob pay out all your debts. Then you will have a great income stream for life rather than one home paid out and the pension…..
Just trying to challenge you to think it through.
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.
Derek,
You are a good guy.
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.
Spot on mate.
The ATO see it as personal borrowings when the use is for personal reason such as buying a home, a car, a holiday, big screen TV etc
If you draw it for investment purposes then you are able to claim the interest.
Using the offset gives you the flexibility.
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.
Cyclist,
Thanks for the link.
Have you bought this expensive eBook? If so can you tell us all what you thought of it and why you recommend it?
Thanks
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 very expensive second hand kitchen. It must be really nice!
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.
