Forum Replies Created
You are right Yack – that is $24 a year before tax! What a cheek they have!
Seriously, it is a standard fee that they all charge and I suggest you put your effort into making money and don’t sweat the small stuff as they say [cap]
What interest rate and bank fees are you paying? [biggrin]
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Todays Hot Rate
***3 year fixed – 6.49%***Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
As long as you don’t buy another PPOR.
I would base the decision on selling on the expected performance of the medium term.
If you want to buy a new PPOR then it might be an idea to sell it and exercise the CGT exemption and move your capital into the new PPOR and borrow 110% for any IPs.
No easy answer I am afraid.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Todays Hot Rate
***3 year fixed – 6.49%***Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Have a think about what sort of investor you wish to be.
A property trader or a buy and hold investor. I see myself as the second and will only realise any loss in a downturn by selling – I also believe that property will trend up in the medium term.
I personally would access the equity and buy more during any downturn. I suspect that i ten years time we will all lament it if we sold anything.
Just my opinion – not advice!
All the best for this glorious new year!
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Todays Hot Rate
***3 year fixed – 6.49%***Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
How many times have clients forgotten to tell me crucial things – remember the broker is on your side – tell him everything otherwise you are compromising your chances and wasting everyones time!
I figure that these clients are pretty common and as I grow I become better at communicating with my clients and understanding their needs.
All the best Rob, you are doing a great job!
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Todays Hot Rate
***3 year fixed – 6.49%***Comments 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 buying this place while they are still selling land?
Often the price rise comes when no land remains and people need to buy on the secondary market.
These display homes are often built with better finishes for obvios reasos.
I wouldn’t be too quick to dismiss this opportunity!
All the best,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Todays Hot Rate
***3 year fixed – 6.49%***Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Those are covered by insurance Rob, I was describingthe remote calamities such as Earthquakes, Tsunami’s and the like.
I suggest that one should calculate the odds and then run with it.
Wind and Bushfire can be decided by looking at history for an area to some extent.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Todays Hot Rate
***3 year fixed – 6.49%***Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I reckon if you are worrying about remote eventualities like this then perhaps property investing might not be your cup of tea.
Just Do It.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Todays Hot Rate
***3 year fixed – 6.49%***Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I personally would buy the one with more prospect for CG. $70 pw out wouldn’t break my bank and I don’t believe Mt Isa will show a healthy growth in the medium term.
I would rather see $50K growth than $20 pw cashflow – but that’s just me [suave3]
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Todays Hot Rate
***3 year fixed – 6.49%***Comments 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 quite possible to recieve a refund of a portion of the LMI where the loan is refinanced or paid out.
I have several clients who have done it.
Just apply directly to the lender.
cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Todays Hot Rate
***3 year fixed – 6.49%***Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Kylie,
See the broker – just because ANZ have issues doesn’t mean that other lenders will do so as well. There can be some surprising differences in their servicability calculators[biggrin]
All the best,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Todays Hot Rate
***3 year fixed – 6.49%***Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I really hope you have a much better experience than I did.
Let us know how you get on and don’t be afraid to share any pearls of wisdom you glean from the course!
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Todays Hot Rate
***3 year fixed – 6.49%***Comments 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 like to see a section on Shares & Alternative InvestmentsWe are unable to discuss shares at all on this site Rob due to limitations imposed by ASIC I believe. As a moderator I am required to remove any share discussion as it arises.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Todays Hot Rate
***3 year fixed – 6.49%***Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I did it at TAFE and from memory it was about $450 though I wasn’t charged after some correspondence about my feelings on the value received.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Todays Hot Rate
***3 year fixed – 6.49%***Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I did the NSW one last year. Didn’t learn much new about investing except for a bit on zoning. Learnt a lot how an office works and how comissions are calculated….
Met a lot of REA’s both good and bad.
The course was very easy and all the exam answers were supplied the night before the exam – everyone got a distinction on my course.
I wouldn’t really recommend it unless you had exhausted all other methods of learning about the industry first.
I think doing deals is the greatest teacher of them all.
Cheers and all the best,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Todays Hot Rate
***3 year fixed – 6.49%***Comments 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 met the folks from Hunter House hunters a couple of times and they have looked after clients of mine.
I found them to be very capable and enthusiastic property sourcers. My clients were also very positive about their experience with them.
I would use them myself if I needed to.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Todays Hot Rate
***3 year fixed – 6.49%***Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Do you need to go into partnership to get started?
Do you think you will achieve substantial synergy by going into partnership?
What are the reaons to do so?
Unless it is imperative then I would avoid it. In my experience with my own ventures, friends and clients I would counsel against it.
By all means work together and help each other along the way – but I personally would prefer to keep the purchases seperate.
The only time I would consider it is for a short term project with a clearly defined exit strategy and time frame. Something like a build and sell. Perhaps a duplex where you each walk away with one? Just a vague suggestion to get you thinking.
Cheers and have a super Christmas.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Todays Hot Rate
***3 year fixed – 6.49%***Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Most lenders offer P&I or IO loans.
The primary difference as regards IP’s is that with IO you are maximising the deductibility and reducing the cashflow out on the property.
The downside is that your debt wont reduce during the IO period however this may not be an issue – depending upon your strategy.
There is a new loan that will apear on the market soon which is PO. This will be of great interest to home owners as it reduces their repayments considerably. They had no interest tax deductions anyway so it really cuts the repayments by half.
All the best,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Todays Hot Rate
***3 year fixed – 6.49%***Comments 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 still employed on a casual basis regardless of any additional income. The lodger will hep you pay it off but it doesn’t change this stumbling block.
Most banks need a written lease for the property. This means the whole property – not just a room.
Have you approached your boss and asked about being employed on a permanent basis?
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Todays Hot Rate
***3 year fixed – 6.49%***Comments 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 spend some time educating yourself as sugested.
I would also determine what your goals are – you are asking the way without specifying any destination!
Do you own a home?
Age?
Family?
I wouldn’t even imagine making any suggestions on that scarce info.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Todays Hot Rate
***3 year fixed – 6.49%***Comments 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 is purely because there is a continual influx on new people here…looking to follow the same path others have trod before them.
I know I had all those questions once and I suspect maybe even you too all those years ago Phil…..
Would be good if people used the search function first when they have a routine sort of question.
Kind regards,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Todays Hot Rate
***3 year fixed – 6.49%***Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
