Forum Replies Created
Here – what is the problem with this thread at the moment?
Simon Macks
Residential and Commercial Finance Broker[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 doubt you will find a LODOC to meet your needs. You might actually have a lot of trouble if I understand you right.
Be careful that it you do find something it is not really high interest with enormous break fees.
All the best,
Simon Macks
Residential and Commercial Finance Broker[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 it is a buyers market at the moment so you should negotiate hard.
Advice I sometimes offer is that an offer isn’t low enough unless you are almost too embarrassed to say it.
I would go 20% at least!
All the best,
Simon Macks
Residential and Commercial Finance Broker[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 about my dog Rosie?
She shares an office with me, accompanies me to the PO every morning.
Her work ethic is poor though. She sleeps a lot when she should be working and her telephone manner is appalling.
I think if she was an employee she would be out of work!
Cheers,
Simon Macks
Residential and Commercial Finance Broker[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 Jacob.
You need to occupy the property for 6 months commencing in the first 12 months.
If something unforeseen comes up then you have grounds to ask to keep it regardless. Things like job transfers or illness have been successful in the past.
Prior to June 2000 if you owned an IP you couldn’t get the FHOG. If you owned one after this date and never occupied it then you still are entitled to the FHOG.
Any questions?
Simon Macks
Residential and Commercial Finance Broker[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 would recommend his weekend course to everyone. I did it this year and learnt quite a few things.
Is relatively inexpensive compared to most.
Cheers,
Simon Macks
Residential and Commercial Finance Broker[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.
Think you were right to trust your spidey sense there
Simon Macks
Residential and Commercial Finance Broker[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.
They approached you cold?
I think that if they were good then they would have a waiting list of clients.
This website is a great resource and costs nothing!
Cheers,
Simon Macks
Residential and Commercial Finance Broker[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 the only advisor I know who believes in property as well as shares.
I am sure there are others.
Be careful you aren’t getting into shares at the end of the boom. Thats when the majority of folks feel confident enough to get in and it is sometimes too late.
You need a plan and stick to it!
Cheers,
Simon Macks
Residential and Commercial Finance Broker[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.
Typically they haven’t performed as well in the CG area.
But I have been reading a lot about the new demographics and some writers are suggesting that there are more and more single people staying single. I wonder if this will lead to a greater demand for this style of accomodation?
It sounds like a pretty easy rental and quite affordable. But I have always had a preference for 3-4 bedroom, well located, middle class homes for capital growth.
But I am no expert so please don’t act on my advice!
Cheers,
Simon Macks
Residential and Commercial Finance Broker[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 will not lose your FHOG if you buy an IP and do not occupy it.
Simon Macks
Residential and Commercial Finance Broker[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 use Property Manager Pro which is easy enough and pretty cheap.
There is possibly better stuff out there.
What do others use?
Simon Macks
Residential and Commercial Finance Broker[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.
Add the total loan sizes and divide by the totol of the valuation on the existing and the purchase price of the new property.
If the result is a loan of 95% or less of the security values then you may have some options.
Or speak to a broker – a quick call or email will soon see if you are in business or not!
Cheers,
Simon Macks
Residential and Commercial Finance Broker[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 also the fear that burglars use open houses to case the joint. Some even suggesting they discreetly unlock a window whilst pretending to be interested in buying….
Is something to be careful of when selling the family home!
Simon Macks
Residential and Commercial Finance Broker[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.
Collie,
Is it a purpose built student accomodation or simply a larger house. If the latter then it will be treated as a normal residential loan.
I furnished mine mostly through garage sales etc but did buy new whitegoods with extended warranties.
You may be able to use the existing property as security – it all depends on the valuations.
Cheers,
Simon Macks
Residential and Commercial Finance Broker[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.
Me too
Simon Macks
Residential and Commercial Finance Broker[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[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 an impossible question to answer given no info.
It is all dependant on the contract you have signed. I suggest you speak to your solicitor and ask him what avenue you have to pull out.
All the best,
Simon Macks
Residential and Commercial Finance Broker[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.
It is possible – however it is only useful for tax purposes if their is a change of ownership as well. So you “sell” it to your spouse who borrows 105% to buy it and put the profit into your home loan.
You will incur CGT and then stamp duty on the new purpose so it may not be worthwhile.
You really need to discuss this with a savvy accountant.
All the best,
Simon Macks
Residential and Commercial Finance Broker[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 think it would be better to take this offline from here. Can you drop me an email please.
Happy to provide you enough info to get your plans rolling!
Cheers,
Simon Macks
Residential and Commercial Finance Broker[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.
