Forum Replies Created
What are the CG prospects?
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.
Just a quick note.
If you buy an IP and live in it you will forfeit the FHOG, unless of course you move into that IP within the first 12 months and occupy it for at least 6 months.
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.
http://www.abio.org.au/ABIOWeb/abiowebsite.nsf
I suggest you get the ombudsman involved. Just having the take a interest can sometimes move mountains.
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.
Start saving a deposit – aim for at least 5% plus costs.
In the meantime try to get familar with your chosen market so you will know a bargain when you see 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.
Quite simple to buy in three names.
However, it might be best to seek legal and financial advice re agreements, protection and purchasing structure. It is a complicated area and there are several solutions including trusts, hybrid trusts and even unit trusts.
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.
You would certainly need to do the figures and include all holding costs as Steph pointed out.
I would get an idea of end value from someone other than the vendors agent – they will possibly be quite optimistic on end value – esp given it will be 6-9 months down the track.
Consider holding it for 12 months to get the CGT discount. However tenanting it may well reduce the market you can sell to and may take away that “new home feel”.
At the end of the day you need to take everything into account and make your decision. I have had clients do very well out of this type of project but I think we all agree that the market is softer now than it has been for a while.
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 do it.
Give me a call if you want to have a chat about 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.
Another idea might be to approach some investment groups who market to their clients.
I imagine these would be easily rented and have great depreciation potential.
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.
Hello Mike and welcome.
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 agree with Shawkes.
With 17K of consumer debt at 19 yrs of age you are way behind.
I think you can still buy a property and live in it. Then perhaps set a goal to buy another one a year later etc etc
First one is the hardest, it gets easier every time.
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 about $30.
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.
Perhaps you could find a cashed up investor who can lend you the money for a share of the profit?
I can’t give any specific lending advice without more figures.
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.
Originally posted by Wake:We have spoken to two brokers who have advised that we would be worse off by refinancing at this stage as quite a few of our loans are low IO ones. Quite a few will “mature” around the same period, so we have been advised that might be a better time to refinance.
Must be good brokers – unscrupulous ones would try to convice you that now is the best time to refinance through them [biggrin]
Well done,
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.
Not a grey area at all.
Wasn’t a home therefore he needs to pay it back.
The good news is that he can use it again if he does buy a home.
Check your state’s legislation at:
http://www.mortgagehunter.com.au/first-home-owner-grant.html
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.
Marsden beat me to it.
I have seen them come up a treat with just a coat of paint!
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.
Get a depreciation report written up by a Quantity Surveyor.
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 generally more effective if you advertise the project rather than ask for help.
They generally want into a project – not a person.
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.
Do a search mate – this was posted.
https://www.propertyinvesting.com./forum/topic/7528.html?SearchTerms=sample,and,partners
If they want to charge you a fee please let me know.
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 low?
I am still paying 5.89% for another two years.
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.
Cremin,
I agree that this can be the case, which is why you need to find a good inspector and stick with him.
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.
