Forum Replies Created
Whats the risk?
You mean the leverage?
Cheers,
Simon Macks
Finance Broker
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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 disagree. Going to a higher LVR with LMI may well help you get what you need. It should be weighed up by the borrower and a decision made.
Cheers,
Simon Macks
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 what clauses you used and what state you are in the only thing I can suggest is that you call your solicitor tomorrow morning first thing and ask for some advice.
Hope it all works out,
Simon Macks
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.
ressy = residential.
Dazzling has moved onto the commercial property field [biggrin] I am looking to do the same.
Cheers,
Simon Macks
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.
Employ a valuer.
See what properties similar have sold for.
Put it on the market and see what the offers are.
There’s three ideas.
Cheers,
Simon Macks
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.
Can you keep it and buy another one?
A popular starategy is buy and hold where properties are kept and used to fund additional places. Whilst the rent isn’t high Berwick might be a place where you will get steady CG?
Cheers,
Simon Macks
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 are the rates on those Steve?
Simon Macks
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.
No advertising here Cata.
You might also need to check what qualifications and licences you need to hold before you start selling real estate deals to the public.
Perhaps newspaper advertising is the way? If you can source a high yield property then a classified ad in a Sydney paper might find investors that have given up finding a decent yield in their own area?
Good luck to you,
Simon Macks
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 and find it great.
Have yo utried the company? Even though it is outside warranty they may be happy to chat to you over the phone and resolve the issue.
Warranties are just bits of paper and I have usually found companies happy to stand by their products. I remember a Victorionox swiss watch I had trouble with – despite it being two years out of warranty I received two new (better) watches from them when I emailed to discuss the problem!
Is worth a try.
Cheers,
Simon Macks
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 your goal is to pay it off quicker then that loan is fine.
You might be better to consider a longer term goal such as owning several properties and work towards that. In that case I would suggest paying IO and saving for your next deposit?
Some food for thought.
Cheers,
Simon Macks
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 this through logically.
Why has it been tenantless? Ask a PM to take a look and they will very quickly tell you why.
If it is location then I would suggest you reconsider the purchase.
Maybe it is price? $10 pw less might see it tenanted?
Perhaps it is the condition? Some $ thrown at it might solve it?
It is great to think of things outside the square to solve problems but sometimes we need to get back to basics.
All the best with the property.
Cheers,
Simon Macks
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 LODOC typically needs a 20% deposit (LVR 80%) whereas a NODOC will need a 35% deposit (LVR 65%).
Interest rates are now comparable with fulldoc loans in many instances. eg I have a LODOC/NODOC with a rate of 7.1%.
Hope this answers your question.
Simon Macks
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.
Lighten up guys.
Thanks
Simon Macks
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 indeed a question of personal preference and comfort.
I would not be as comfortable to buy something I hadn’t seen myself though I have plenty of clients who do and do so very well.
It is up to you.
Simon Macks
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.
Thanks…..I think [biggrin]
Cheers,
Simon Macks
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.
Sorry – I get the point. The trust will need to have profits generated to use the losses?
Is that the point?
Thanks
Simon Macks
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.
Wizard Home Loans are giving you financial advice as to how to develop property? Obviously he makes some money with this recommendation…
Unless the man is a licensed financial advisor he is breaking the law. I strongly suggest you consider using another source of finance and seperating him from your source of advice.
All the best,
Simon Macks
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 am looking at a place atm in the 6th largest city in Australia that is pos cashflow. They are there is you look hard enough…
Cheers,
Simon Macks
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 JKM:Sure, but this isn’t going to reduce his taxable income. I also don’t see how that will advance him with regards to his property portfolio
It wont? Surely claiming the interest on the home will decrease his tax bill?
I don’t advocate this approach and would suggest anyone considering it to seek professional advice.
Cheers,
Simon Macks
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.
Claiming the expenses of the family home as a tax deduction is the aim I believe.
Simon Macks
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.
