Forum Replies Created
I collect rent all year except for the summer break.
I will take half rent for anyone wishing to stay in town and also advertise empty rooms for short term rental.
I get about 75% of the normal rate over this period from mostly Asian studnets studying english.
Hope this helps
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.
Perhaps he wishes to onsell it with a simultaneous settlement?
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.
If you consolidate the debt you will tie up equity plus you may end up paying down that debt over 25 years and it will cost way more.
What do you wish to do. Buy another place or get rid of the debt.
Remember to always consider these questions after identifying your goal – then the answer is usually obvious.
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 I think as a single woman I’d never be able to save up for a deposit on my first home. That’s another thing too, so few people are getting married these days. None of my friend have partners who want to get financially involved with them. The beginnings can be a real struggle when it’s just you.-Melinda
[blush2]
I have some single male friends looking for partners….send a pic and your star sign and I will pass it on lol
[biggrin][biggrin][biggrin][biggrin][biggrin]
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 will find most investors have been exposed to MLM either directly or thru friends and family.
Amway has done nothing to get themselves a bad name. It is the people in it that do so. Their sales tactics are often questionable. The pressure they place on their downline (who often join reluctantly) leads to many friendships being tested.
The uplines ask you to first approach friends and family – write a list of names of everyone you know…sound familiar?
Join up, buy the expensive products then start to work your friends and families. If people don’t perform it is their own fault. It means they are lacking and need to listen to more tapes and strengthen their faith in the company.
Many many people have joined these systems. I know an awful lot of people successful through property investing. I know none who have done so through MLM.
If it suits you then good luck to you. You will learn a lot about what works and doesn’t work in the sales industry – if you can apply these lessons to other parts of your life then good on you.
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.
Think about your longer term plans.
Consider your serviceability with both properties.
Have a think about your local market – will it make more sense to sell or hold.
Without knowing a whole lot more about you and your situation it is impossible to give advice.
Some people sell the existing home CGT free and move into the new one and establish a CGT exemption there….then build another!
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.
well it can look that way but a simple explanation will usually get you over any hurdles.
I would suggest you just apply one time – doing it more willonly complicate your CRA and your life [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.
Aim to save at least a 5% deposit. with your track record of paying down debt you should be able to do this easily!!
Many people use http://www.ingdirect.com.au to save in but there are several other online accounts available too. The higher rate is handy but the real attraction is keeping the money seperate with no atm. A psychological barrier to dipping into 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.
If the equity and income supports it – then no problems whatsoever!
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.
If Iw as a young guy with my health back I would do anything to get a job like that. I joined the Army in Perth at 17 and a couple of my mates went North to the minesites and rigs and earned a lot more and had a lot more time off than I did!
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 a property cycle that is clearly evident.
Some buy and hold. Others try to read the cycle to maximise profit by selling high and buying low.
There are various strategies people use to make money.
Personally I plan to topup my loans during the highs and ride out the lows. But there is no right answer.
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.
A good broker will bring heaps of experience to the table for no additional cost.
Even if you end up with the same product you will have had their opinion to confirm your research. Surely this is worth a $0 fee?
Lastly, I am all for directing some of the banks profits to small businesses [biggrin]
What have you got to lose except for an hour of time?
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 like how you think…
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 know where the brother lives?
Knock on his door and let him know you are interested in selling for the right price.
Get yourself an independent valuation including an opinion of it’s worth for a development site.
Then sit back and see what happens.
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 Wylie:I would suggest (very respectfully) to ditch the line of credit. We changed our LOC to a normal housing loan with redraw over a year ago and our housing loan is decreasing nicely.
We still can redraw if needed, but it is much easier to be disciplined when we have a monthly repayment and we only redraw when we absolutely have to (rarely). It has made such a difference. LOC was too easy to abuse for us.
Having said that we are extremely disciplined with our (much larger) investment loan and we pay the credit card off in full each month.
It was just the LOC, which was not very big but we just kept drawing it up.
If you can buy a positive cashflow, I’d look for a great deal and do it.
Regards, Wylie
I agree to ditch the LOC but I would not recommend redraw ordinarily. I much prefer to see people getting ahead in an offset account.
There is plenty of info as to why posted.
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.
Industrial carpets are hard wearing and inexpensive and many are quite nice too.
Sisal looks great.
We hard dark blue carpet once and it really showed the lint and fluff etc – needed daily vacuuming!
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.
Well said Stu – it does sound like someone wishes to consider committing fraud against a lender…this is a criminal act.
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.
The main attraction with smaller complexes to me is that there is not always several units on the market which seems to drive prices down or at least hold them down.
All year 11 economics of supply and demand when you look at 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.
I left home at 17 as did my wife. Didn’t harm us too much. I went into the service of our country and Jen went off to the big smoke to attend Uni . Although I dread the thought of my 9 and 11 yr old girls going – I am sure that after enduring the teen years it will be quite welcome.
We also have discussed the idea of having an IP set aside for them which they can use while they attend uni or if in the wrong place then use it to fund something in the right place as it should keep pace with the market.
Or maybe we will move out and leave them to have this house.
We are also discussing where we might like to live in ten years or so to enjoy ourselves sans kids – a unit overlooking the beach, waterfront home, overseas again…….
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 was reading today that ANZ are now more positive on inner city apartments – they feel the downturn is mostly finished.
Can’t say I agree but it was interesting.
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.
