Forum Replies Created
Please don’t pay as much as you can into redraw!!!!
Pay IO and keep any other savings in offset.
Use equity to fund the next purchase if possible. Cash deposit from offset if not.
If you redraw money for any purpose other than investment you will lose tax deductibility and you will regret it.
There is a lot of info in earlier posts and I am more than happy to explain it further over the phone.
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.
Originally posted by Regrow:Mortgage Hunter
So if you buy/build an IP and have never owned a house before this are you still able to obtain the FHOG?
What about if you buy 5 IP’s then a PPOR could you then claim the FHOG?
Regards
RegrowYou are a fool for 5 seconds if you ask a question, but a fool for life if you don’t.
As long as you didn’t own property prior to Jun 2000 and have never lived in one of your IPs then you can own a 100 IP’s and still claim the FHOG when you buy your home.
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.
Originally posted by sud:These nerds are so ugly…
Especially me [hmmm]
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.
Originally posted by Property Passion:you might need to strongly express your concerns with the property manager. What i have done is advertise with 2-3 real esate agents and told all 3 agencies that who ever got me a tenant first could manage the property, got a tenant fairly quickly
hope that helps
Be very careful that they don’t try to win your business by being the quickest to find you a tenant. Which sounds like what you want.
You may well be given a tenant that noone else wants. I would rather take the time pressure off a single agent and have them find the tenant that gives them (and hence you) the least amount of headaches during the duration of their lease.
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.
Have you considered trying another property manager?
I hope you get someone soon – the property does sound nice.
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 are suggesting he ring now because he wants to buy a place and plans on having a good reason not to occupy it?
Applying for the FHOG with no intention of occupying the property is fraud. It is illegal.
By all means buy the IP but save the FHOG for purchasing your 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.
What is a lend register?
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 cannot factor utility into rent – what you do is set the price according to demand and supply of other rooms.
I give strict guidelines on heater use and provide oil radiators which are safer and more efficient than the cheap fan ones students will buy.
I also have in our agreement that they will pay any usage higher than the previous years – shown on the bill. So far I haven’t had to levy a charge on them.
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.
This land has been selling like this for a long time.
You are not allowed to build on it. You are only allowed to camp there and I think it is for a limited number of weeks a year.
The vendors are selling it on the basis that it will be worth a lot more if council changes the zoning.
Perhaps a call to council might tell you what that likelihood is?
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.
Yes all of that is possible and can be useful.
What is your real plan though?
What do you hope to achieve from buying a property?
Where do you want property investing to take you?
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.
Thats exactly what I was looking for when I was considering a career as an evil genius. Would make the best Bond Villain hideout!
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.
Without knowing more I am reluctant to make suggestions and give you false hope.
Can I suggest you call a broker and explain what you need.
If you have a large enough deposit or someone to help you with equity then something may be able to be done.
I would have done the same thing as you and travelled after what you have been through – don’t ever consider feeling guilty about that! Investing isn’t life’s most important goal despite what you may think from some of the folks in here [biggrin]
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.
I think you are getting caught up with detail here.
What is the point of a definition?
As earlier said “Just Do 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.
Rob,
As you know you can change ownership and take out new loans with as much as possible being against the IP.
Be very careful as you will incur SD and CGT. It may not be worth the cost to set up.
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.
What will get better growth than Sydney?
I am not being sarcastic – I really want to know!
Cheers,
Simon Macks
Residential and Commercial Finance Broker
6.29% Variable Rate available now![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 depreciator:Thanks Redwing, Michael and Simon.
Hi Billyray,
The price would have been $715, not $750. And for members of this forum, there is a discount – down to $660 GST inc.
We’re dearer than some, and cheaper than others. I’ve seen some cheaper reports that are not ATO compliant.
We use Quantity Surveyors to carry out inspections and costs building/assets. One big company in this industry doesn’t.
A layperson is able to put values on assets: stove, carpet etc. A layperson is not able to value building work. QSs are at the top of the ATO recognised pile for this job, but some builders also have the requisite qualifications.
If your house is pre 85 I can probably help you over the phone for no charge.
ScottTax Depreciation Schedules
Australia wide service
1300 660033
[email protected]
http://www.depreciator.com.auHow good is that!!
Simon Macks
Residential and Commercial Finance Broker
6.29% Variable Rate available now![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.
If the purpose of the drawing is for personal debt such as a home then the loan is not deductible.
I suggest you sit down with an accountant to see if there is any way you can restructure your ownership.
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.
I used Depreciator and can strongly recommend their services.
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.
What does the act state?
I for one wouldn’t recommend anything less than the requirement of the FHOG.
If you check my website you will find links to each of the state authorities who administer the grant.
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.
I can recomend Nick from Strategic Wealth Management as an accountant.
Google him for his website.
I don’t know any decent brokers….[biggrin]
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.
