Forum Replies Created
I believe if you wait a period of 3 months until the exclusive agency expires, there is no problem. Give your state Real Estate Institute a call and tell them the story and see what they say.
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
We are being dragged back into the days of compulsory unionism as far as I am concerned but we are not getting the representation. They just take our money!
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 think it is about the MAPPERS.
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
They are complaining about more tax!
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
Michael, those damn customers… always interrupting!!!
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
In addition to my previous comment, 100,000 if you think it is worth that of course!
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 start at 100,000 seeing the 110 bid was a vendor’s bid. The value of a property is the price someone ELSE is willing to pay, not what the vendor thinks it is worth. There is no sentimental value to a purchaser.
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 idea is not to change the rule to adapt to the market, it is to adapt your buying methods to adapt to the rule. In any case, there is a new 11 second rule but you will need Steve to explain it to you as it can be confusing.
The properties in your example are negatively geared. I find that to come close to positively geared, you have to get away from highly populated areas like Newcastle.
Try out in the sticks maybe 20 minutes or more out of Newcastle etc. Try other States. Try New Zealand. There are loads of options if you go looking. Maybe a spotter might be useful for you.
I wish you all the best.
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
Jan,
There is a technicality that you may have got through on.
If you only owned a property after 1 July 2000 and DID NOT live in it, then you are still eligible. If you owned prior to 1 July 2000, all bets are off.
Destined,
HOW MUCH IS YOUR DAD’S PROPERTY WORTH AND IS THERE A DEBT ON IT?
You really need to give ALL the details to get the right answer. Any answers you have received here so far can not be accurate because your details are unknown. Talk to a mortgage adviser and tell them everything so they can work out the best option for you.
There is nearly always something you can do.
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
Eddie, sounds good… get a pre-approval and start looking. At least you will be ready when you find something you like especially if you need to move quickly.
GOOD LUCK.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auComments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Originally posted by jhopper:Robert, I hope what I did wasn’t fraudulent. This approach was suggested by my broker whom I have alot of respect for, and was approved by a major bank and the controlling body for FHOG with all details disclosed, so hopefully I can avoid the can this time!!!
I am sorry to say that any way you look at it, it is fraudulent. The requirements state:
Eligibility requirements
FHOGS is available to people buying or building their first home and who meet the following eligibility criteria:
- applicant is a natural person and not a company or trust
- At least one applicant is a permanent resident or Australian citizen
- Each applicant must be at least 16 years of age
- All applicants and/or their spouse/de facto have not owned a residential property, jointly, separately or with some other person, in any State or Territory of Australia before 1 July 2000
- All applicants and/or their spouse/de facto have not owned on or after 1 July 2000 a residential property and occupied that property jointly, separately or with some other person in any State or Territory of Australia
- Each applicant has entered into a contract for the purchase of a home or signed a contract to build a home on or after 1 July 2000. In the case of an owner-builder, laying of the foundations commenced on or after 1 July 2000
- This is the first time an applicant and/or their spouse/de facto will receive a grant under the First Home Owner Grant Act 2000 in any State or Territory
- At least one applicant will occupy the home as their principal place of residence for a continuous period of six months, commencing within 12 months of settlement or construction of the home.
Each
Take particular note of points 3,4 and 7 above which are clearly stated on the FHOG application and you have to tick a box for each requirement and sign the document to verify you comply with the requirements.
Please remember that I am assuming that your “partner” is also your “spouse / de facto”. You could always sue your broker if you incur any financial loss for giving you advice that caused you to be fraudulent. A couple can only legally get the FHOG once regardless how the deal is structured.
Sorry to be the bearer of bad news.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auComments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
The ATO would certainly treat it as a “profit making scheme”. Your costs would be deductible and you would be liable for CGT at the highest level if you sell within a year.
It sounds like you are from overseas though so I have no idea what tax implications you would face if you are a foreigner.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auComments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
The masterclass was very insightful. I went in there thinking I knew it all like I do at most seminars I attend. The funny thing is that I keep attending seminars because I find that I learn at least one new thing at each one and this is worth the cost of attending.
Steve’s seminar was rather good because I learnt a lot more than one thing. The way he deals with property is very different to what we have been brought up to believe. It is a great way to look at it and some of the tools are very useful.
Another great thing was the support team that were there. They were very easy to approach and spoke freely about their experiences and, most importantly, shared their knowledge. I found Dave to also be most helpful.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auComments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
I think most prudent buyers will find out when they do a building and strata inspection before buying. Don’t stress about it.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auComments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Regardless of what anyone thinks of McDonalds, their business models are exceptional and one that many people should aspire to.
Their model regarding purchasing of sites is done in such a systematic way that I don’t think they would ever lose on a property purchase.
Regarding their retail model, need I say more than they sell hamburgers? Everyone sells hamburgers!
I very much admire McDonalds management.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auComments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Destined,
You really need to sit down with a mortgage adviser. You might not have any issues at all when you go through ALL the details with someone with some experience.
A tip….
Never rush into anything just because you fear you might lose the opportunity. You will find that another opportunity will almost always present itself and it will usually be a better one.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auComments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
He is looking to “borrow from” Nat.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auComments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
“Subject to finance”, “subject to valuation” and “subject to satisfactory pest and building inspection” are common clauses.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auComments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Kiwi, all accounts clauses are rare in Australia. I have yet to see one.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auComments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Brahms, when loans are packaged and on-sold as outlined by Nat, there is no detrimental effect whatsoever to the borrower. It does not change the loan type at all. It merely takes that parcel of loans ‘off-balance-sheet’ meaning the lender can lend more money.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auComments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
