Forum Replies Created
I don’t see the not being able to claim depreciation as an issue. The whole payment is deductible – as opposed to interest only – so the tax benefits are huge if you are looking for that. If you spend money on improvements / repairs (whichever one is permitted), they can be depreciated. All you miss out on is building depreciation (if any exists) until you purchase but this is more than offset by other benefits.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Hi Wendy,
Take a look at:
http://www.mortgagepackaging.com.au/index_files/professional_pack.htm
Can you tell me if you have a similar structure for your owner occupied home? If not, I think that structure is invaluable.
Regarding your investment loans being cheaper than your home mortgage, I would remedy this situation immediately. Your investment loans are deductible and your home mortgage is not. You want to be paying as little as you can on your home mortgage because the interest is an expense that can not be recovered.
Your position sounds excellent as you are only geared at 52.77%. You should be able to secure any loans you like unless there are other adverse factors or serviceability issues. Your interest rate should also be no more than an advertised rate of 6.37%. Introductory rates would be cheaper still for one year.
Hope this helps.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Richmond,
There is nothing wrong with buying sites unseen. I have done it and done well.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Hint 3: Look in areas away from capital cities or major regional areas.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Marisa,
Thanks for that. You made my day. I have been told that the current value is already $40,000 more than the contract price. If the valuation comes in at a bit better than this, no money down will be needed to own this property on a loan of 80%. I love avoiding mortgage inurance!
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
The car money is NOT deductible. Whether you state that in you tax returns is up to you.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
If they are not giving your commercial loans, there is no difference. Besides higher interest rates, commercial loans are synonymous with shorter loan terms – around 15 – 20 years if you are lucky. Payments are much higher.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
I love buying privately. I find it much cheaper.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Why lock in if the future is unpredictable? Interest can also go down you know?
I rarely here the NZ investors talk about the currency difference. Don’t forget to factor this in!
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
I would not touch a mobile home!
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
I will happily give someone a $25,000 per annum rental guarantee for 5 years if they were paying me $200,000 over price. Firstly, I would invest the $200,000 in high returns. Then I would put a tenant in at as high a rental as I could (probably $15,000 per annum). I would supplement the rental shortfall with the $200,000 extra I received on the purchase. Over 5 years, I had to pay out $50,000. I am still in front by $150,000 and I would have made about another $100,000 profit (conservative) over the five years on the extra funds I was paid which I invested.
Overal result is an extra $250,000 in my pocket over 5 years.
Rental guarantees are worthless regardless who provides them!
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Kiwi, a few things…
Foreclosure is an American thing, not Australian. As to why a wrapper would default, if they were struggling to make payments, they may default. As to coming up on the radar, you cannot list them with Baycorp Advantage so that won’t happen either. You would have to sue them for any defaults.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Cannot occur in NSW either. That is why I am asking what State???
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
I hope it is still growing. I have a property settling in about March in Queens Park!!!
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
And this is why I am not a fan of using a Line Of Credit. Most people have them because it is “fashionable”.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Loan types have nothing to do with what is deductible. It all comes down to the purpose of the funds. If the money is not used for investment, it is not deductible.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Baaaaaa Humbug!!!!
My girlfriend is away for 6 months!!!
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
You have managed to find a loophole that many people try and use but it is a very fine line. I would discuss this with your accountant extensively but – YES – you have the jist of it.
The interest on the money used for the PPOR is NOT legally deductible in my opinion.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
I didn’t mean it like that… I meant I posted my view abou the Senate last week. That article was a good read.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
What State are you in?
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
