Forum Replies Created
Terence,
He will NOT lose the FHOG if he buys an investment property first. You can buy as many investment properties as you like as long as you DON’T live in them.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdIt is interesting that they waited until a nice big property downturn before attempting a property buyback.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdThe Earth did open up causing freak tidal waves.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdCG = Capital Gains
CF = Cash FlowHe is a newbie Byron.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdDon’t worry, I am sure they will be putting a huge wall alongside the highway to reduce noise levels. Imagine the great view (not to mention the shadows)! Better you than me.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdIn case you guys missed it, the emails have lost a lot of formatting when I pasted them here. There were a lot of BOLD CAPITALS!
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdObiwan,
So basically, you believe interest rates will decrease or remain steady?
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdI only just realised that was your site. Thanks for bringing it to our attention. What State are you based in?
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdI worked it out. You have to upload the image to the net correctly first. Then it is just a matter of typing in the link to where the picture file is.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdHere is my reply…
From: Robert Bou-Hamdan [mailto:[email protected]]
Sent: Monday, December 27, 2004 9:48 PM
To: ‘David Reardon’
Subject: RE: Contact from http://www.jenman.com.au/NewsStories1.php?id=94It must be a pre-requisite to work for Mr Jenman to only operate with one eye open.
To address your email point by point (as I hoped you would show me the courtesy of doing instead of ignoring all the content):
· I apologise for using the word ‘Article’. I am fully aware this was a story sent you and reprinted onto your website in an attempt to promote your cause. In my opinion, this is now an article as it is on a commercial site. I do not intend to make this the issue of my email as you seem to have done.
· It is then quite interesting that you jumped from talking about something that is meaningless (ie: the ‘Article’ comments) to the very end of the email where I commented on ‘stupidity of some people’ and people taking responsibility for ‘their own stupid mistakes’. How about you now go back and address and respond to all the comments and questions in between. I am satisfied that you think I am ‘deplorable’.
· Now we jump back to you counseling someone who was ‘lured’ into a mess. I would be interested to hear your qualifications to counsel anybody as it seems apparent from your response that you find it difficult to pick up on key issues and address them accordingly. This is an important trait for a qualified counselor. How were these people ‘lured’ into something? They are grown adults and made their own choice. As far as I am concerned, they made a great choice and benefited enormously from their capital gains and their issue is with the lender charging them 12%. I would hazard a guess at the reason behind you still targeting the wrapper is because it attracts more media attention. Read my initial email (as it seems clear you have not done so) and you might understand where I am coming from with this Mr Counselor.
· A quick note, ‘decency’ has NOTHING to do with ‘stupidity’. I will put it in a sentence for you – I am sure you are a DECENT guy but unfortunately you seem blinded by your own STUPIDTY. (Notice the BOLD CAPITALS!)
· Regarding the ‘seminars’, there are good ones and bad ones. At least I can admit this. The point of the matter is that the people involved were all adults and no-one had the thumb stuck in a vice to sign contracts. It looks to me like the wrapper and the buyer both won in this deal. Again, I draw your attention to the issue being with the lender charging these people 12%. AFTER they refinanced. (There are those BOLD CAPITALS again).
· No-one else may have “interpreted†the story as I have because it seems your following is a group of weak-minded individuals sucked in by a ‘Doom & Gloom’ story and they cannot read between the lines. Not so long ago, Aboriginals suffered segregation because the majority thought it was right. I must ask you, does that still occur today? There will always be someone who sees things differently and it seems that you discard those people who do not bow to your preachings. I would guess that you are just one of the many ‘Jenman Puppets’.
· Using the word “victim†can be very powerful. Boo Hoo!!! Please send me a Kleenex! I am so distraught that these “victims†made more than 50% capital gain on a property investment in 18 months! BOO HOO! (You know it – BOLD CAPITALS!)
· Attacking my personality from words in an email will not win you any brownie points. It just demonstrates your inability to read things as they are and your intent to twist things towards doom and gloom. You can insult me all you like and it will not change my view that these people made money on this transaction and are whinging for nothing.
· I notice you mentioned a link to PropertyInvesting.com on my website and implied that it was the reason for how you interpreted my words. Let me assure you that Steve and I have huge differences of opinion and I have even been banned from his site for many months this year for airing my opinions. My opinions and my words are my own and are not endorsed by anyone else nor do I seek endorsement or support from anyone else.
Just a final word before you go back and read the initial email which you clearly did not do before answering me, I have never sold a property under a wrap in my life and I am more inclined to go with lease options over wrapping. However, I do not discount it altogether as I believe wraps have their place as do AUCTIONS.
I draw your attention to the first paragraph of my first email Mr Counselor. I would appreciate a proper, more educated and informed response to my whole email from you in the future instead of trying to pick out some negatives. I would appreciate you not responding to me further with insults by email if that is all you have in you. Hopefully we can get this exchange back on track and more civil.
I look forward to a PROPER response!
Kind regards,
Robert Bou-Hamdan JP, SIA (Aff.), Dip. Mortgage Lending
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdUPDATE!
From: David Reardon [mailto:[email protected]]
Sent: Monday, December 27, 2004 9:12 PM
To: [email protected]
Subject: Re: Contact from http://www.jenman.com.au/NewsStories1.php?id=94Dear Bou (sic)
The piece you refer to is NOT an article, but a story written by a consumer. It carries a clear heading – “STORIES†marked in BOLD CAPITALS.
In your haste to protect wrappers, it seems you have overlooked this central point.
To refer to battlers who are losing their family homes as “stupid†is, in my opinion, deplorable.
I counselled the woman who was first lured into this mess. She is not stupid. Like so many others, she is a decent woman who was conned by one of the many loan sharks who have attended those get-rich seminars and have now been turned loose on the community to prey on battlers and exploit them under the guise of being heroes offering “win-win†deals.
No one else has “interpreted†the story in a manner that resembles your interpretation. Indeed, there has been an outpouring of both condemnation for the wrappers and compassion for the victim.
The complete absence of care and the callous tone in your message surprised me, especially from someone who purports to be a professional business person. When I visited your web site and, behind the cartoons, saw your link to one of the country’s biggest wrap spruikers, it all made sense.
Sincerely
David Reardon
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdOriginally posted by scotty3:I watch what they banks offer with fixed interest rates – they don’t get it wrong too often. Right now, that would suggest there is still some breathing space before any great interest rate hikes- though they have to come some time, so there’s no room for compacency!
Cheers,
scotty3Why do you believe that interest rate increases “have to come some time”?
Has everyone forgotten that rates have come down over the years and were cheaper than they are now not so long ago?
With the Reserve Bank inflation rate targets being a relatively new thing, is there really any reason for interest rates to sky-rocket again? (unless Labour wins an election of course! hehehe)
Have a look at the CASH RATE since January 1990 and you decide.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdNo problem Steve. I will email it to you AND post it here.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdThis has been answered over at https://www.propertyinvesting.com/forum/topic/14613.html
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdOr a reason why the properties are for sale!
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdGenki,
There are a lot of mortgae brokers on this site to choose from. I think you will have difficulty finding a good one in WA as the WA Government restricts non-WA residents from operating there resulting in a closed-shop for WA based brokers. As a result, I don’t think they put in as much effort. I found so many investors over there did not even know about deposit-bonds. This is a disgrace!
Regarding your loan structuring, Richmond gave a good outline. Regarding whether to use interest only or principal and interest loans, I would always recommend interest only (unless you are not good at controlling your money).
Take a look at this structure and you might understand why…
The idea is to pay as little as possible to the actual loan but to leave as much as possible available for further investment (if this is what you want to do of course). The money sitting in the offset account will do the same thing as if it was sitting in the loan.
The benefits of interest only far outweigh those of principal and interest, even on your owner occupied home (if you are good with money). The main benefit is that you can pay as much as you want whenever you want without penalty but you cannot reduce your payment when things get tough with principal and interest loans.
From an investors point of view, there is no NEED to pay off the interest as it is deductible and the principal is not. The only reason to pay down the debt is to reduce your liabilities or to purchase further properties. You will have the cash available if you use a professional pack with an offset account properly.
Please note, the credit card in the diagram is only used for those who are really good with money!!!
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdIs that part of the Pacific Highway / Freeway upgrade?
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdBruham,
The newbies are learning and are excited to post something. They later realise their mistake. Many of the regulars have done it themselves but learned from experience.
In the scenario you outlined, no-one here is advising readers to do that. It seems the person you describe received some seriously poor advice to set up their finance in that manner. In any case, there are ways of helping everyone. It will all come down to the numbers and what is the most beneficial to the borrower.
As for your attitude, DO YOU WANT A CUDDLE?
I think it might help.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdI would never dream of it Jo. I am scared of women!!!
I think most men are.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdHi Iboffer,
I wish I faced your dilemna.
Your seems to be a structuring issue. I would sit down and draw up a plan for what you wanted to do over the next 5 years, organise a correctly strucured finance package that will provide you with flexibility to do what you want to do and provide the most benefit and go from there.
I would suggest a loan with an offset account would suit you but a complete package would be best.
Sit down with a good broker.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
