http://www.mfsimmons.com.au/ This is the weblog and publishing system which will handle all of the content - dynamic and static - for MFSimmons.com.au en Copyright 2009 Thu, 10 Sep 2009 15:36:41 +1000 http://www.sixapart.com/movabletype/ http://blogs.law.harvard.edu/tech/rss It’s certainly an interesting time in the market. Things are hotting up at auctions, and every weekend there’s a “I can’t believe the price went so high” story to be heard. On the other hand there’s the looming interest rate rises, and the media attention may dampen the market. So, if you’ve got your eye out for your next investment property here are some tips for the current market: 1. Don’t over react to the media. Do your sums to establish what a .25% interest rate rise will mean to you and start planning for it. 2. Be patient and do your sums. There are great buys for patient investors, even in the ‘hot’ areas. 3. Check out the ‘sell your own home’ web sites for possible bargains. Use Google, or check out sellmyplace or gumtree. Special Client Event - Love Your Money Workshop Wednesday 23rd September, 7 p.m. After selling out his one day course, Peter Cook, master business coach and financial independence coach has agreed to give us a 90 minute snap shot as a special favour. Pete will be outlining his 7 step financial independence methodology. In particular he will focus on 'spending consciously' - a unique approach to analysing your spending which typically reduces household expenditure by around 20% without any loss of quality of life. Imagine what that extra 20% could mean for your property portfolio! Our client workshops are FREE events for our clients. Please phone Ro in our office to let us know that you’ll be attending. Upcoming Events 1. Love your Money Workshop Wednesday 23rd September – 7pm at our office. Phone Ro to book your seat. 2. One Day Property Investment Bootcamp Melbourne 3rd October – BOOKED OUT 3. One day Property Investment Boot Camp Brisbane - Saturday October 17th. The University of Queensland. Details soon. - to book your seat phone Ro on 03 9818 6755 4. Property Investment Bootcamp Melbourne - 21st Oct, 28th Oct, 4th Nov – BOOKED OUT http://www.mfsimmons.com.au/update_10th_september.html http://www.mfsimmons.com.au/update_10th_september.html Thu, 10 Sep 2009 15:36:41 +1000 We’ve got our Negotiating Tips and Tricks FREE client workshop on tonight. It’s at our office, from 7pm – 8:30pm. Don’t forget to phone Ro if you’re planning to come!! There’s been a lot of press about fixed interest rates recently, and I received this email from Katrina Gay, Financial Planner extraordinaire. It’s a fantastic analysis of fixed versus variable interest rates: Katrina says: “I have started to received quite a few queries from clients about whether to fix their interest rates. There is no doubt that interest rates will go up in future, but this doesn't necessarily mean you will be better off fixing your rates. 1. Prediction As many of my clients have Westpac professional package loans, I have used the current Westpac fixed rates in the examples below. The current Westpac three year fixed professional pack rate is 6.79% pa. If you were to try and beat the variable rate by fixing now at this rate, you would have to believe that the average interest rate over the course of the three year period is likely to be higher than 6.79%. If, for example sake, we use a steady, straight line interest rate increase, then to break even with fixing at this rate, you would have to see discounted variable rates rise from 5.11% (current) as follows: to 6.21% by Aug 2010 to 7.31% by Aug 2011 to 8.41% by Aug 2012 So in order to profit from fixing your rate for three years, you would need rates to rise by an average of 5 lots of 0.25% each year over that time. Using the current Westpac five year fixed professional pack rate of 7.44% pa, and steady, straight line interest rate increases, then to break even with fixing at this rate, you would have to see discounted variable rates rise from 5.11% (current) as follows: to 6.06% by Aug 2010 to 7.01% by Aug 2011 to 7.96% by Aug 2012 to 8.91% by Aug 2013 to 9.86% by Aug 2013 So in order to profit from fixing your rate for five years, you would need rates to rise by an average of 4 lots of 0.25% each year over that time. If you think that it is highly probable that rates will be higher than the figures above at those points in time, then you have a good argument for fixing. But, as with the share market, nothing is certain, so I personally prefer to keep all my loans variable. Looking historically, it is more common for people to lose rather than win by fixing their rates. 2. Cashflow I don't believe prediction is a good reason for choosing to fix your loans. However certainty of cashflow IS a good reason to consider fixing. If you have a tight cashflow position, and/or a small liquid buffer, then fixing is a good idea to have certainty over future payments. By fixing you are often paying a premium in order to have this certainty. 3. Other considerations Keep in mind the following disadvantages of fixing your loans. • Most fixed loans restrict the amount of additional repayments that can be made during the fixed period • Most fixed loans will not allow an offset account to be linked to the loan • If you sell the property then break costs may apply • If you want to access increased equity in the property, you may be either tied to using the current bank (which means accepting their valuation), or have to pay break costs to move banks • If the economic recovery stalls or suffers a further setback, then we could see interest rates remain low for some time Other banks Medine regularly updates her fixed rate table for all the big banks. Her latest update shows that Homeside, ANZ and St George's fixed rates are all slightly higher than Westpac's. RAMS have a special offer on where you can fix half of your loan for three years at 4.99% (the other half must stay variable and the current rate is 5.49%). However there is a deferred establishment fee of 1% of the loan balance to exit the loan within 3 years (on top of any break costs), the loan can only be interest only for 2 years (it then reverts to P&I), and the set up costs are $845. So on the surface the RAMS offer looks quite good, but there are a lot of restrictions.” I hope there’s some good food for thought there for you. Please don’t hesitate to contact me if you have any queries at all. http://www.mfsimmons.com.au/update_26th_sep_fixed_vs_variable.html http://www.mfsimmons.com.au/update_26th_sep_fixed_vs_variable.html Thu, 10 Sep 2009 15:35:16 +1000 NEGOTIATING tips and tricks on the 26th on August. Phil Whiteman is an Insolvency Accountant, so he's used to negotiating tricky situations for his clients. He's also a property investor and property developer with over 30 years experience in negotiating property deals. He'll share his negotiating techniques and tips with us, including his top five strategies in the current market. Please phone Ro in our office 03 9818 6755 to book your seat. ]]> http://www.mfsimmons.com.au/update_1782009_insurance_and_negotiating.html http://www.mfsimmons.com.au/update_1782009_insurance_and_negotiating.html Mon, 17 Aug 2009 22:52:25 +1000 I will be spending the next 12 months focusing on Property Investment Boot Camp and YOU, my existing clients. I’ve been so grateful for the people that you tell about me. Thank you again for anyone you have referred to me, and for trusting us to look after your people. However I won’t be taking on any new clients for 12 months, except through the Property Investment Boot Camp. If someone you know needs a Mortgage Broker please give them my details and I’ll be happy to have a chat with them about their situation. I’ll then refer them to one of my colleagues who is best suited to them (it will be one of a select handful of experienced Mortgage Brokers that I have worked with for years, and trust implicitly). Of course, anyone participating in a Boot Camp becomes a client and we will still assist them with their loans if they wish. And for our existing clients, I hope the only difference for you is that you will feel better cared for as a result of these changes. And I hope we’ll see you at Property Investment Boot Camp soon! Upcoming Events FINAL 2009 DATES for Property Investment Bootcamp!! If someone you know has been asking your about property investing this is a great way to skill them up, just remember that we only take booking from people you know so if you tell your family or friends about it remind them to mention you when they call Ro go book their seats. 1. Negotiating Tips Workshop 26th August- details to follow 2. Property Investment Bootcamp Melbourne 2nd Sep, 9th Sep, 16th Sep – BOOKED OUT Phone Ro to be waitlisted. 3. Love your Money Workshop Wednesday 23rd September – Further details soon. 4. One Day Property Investment Bootcamp Melbourne 3rd October – BOOKED OUT Phone Ro to be wait listed. 5. One day Property Investment Boot Camp Brisbane - Saturday October 17th. Venue to be confirmed - to book your seat phone Ro on 03 9818 6755 6. Property Investment Bootcamp Melbourne -21st Oct, 28th Oct, 4th Nov – to book your seat phone Ro on 03 9818 6755 ]]> http://www.mfsimmons.com.au/update_2982009_referrals.html http://www.mfsimmons.com.au/update_2982009_referrals.html Mon, 17 Aug 2009 22:49:17 +1000 Happy Financial New Year! And we’re off to a great start. Auction clearance rates have been over 80% for weeks and Melbourne and Sydney are promising double digit growth by the end of the year! Yippee! We’ve still got Property Investment Boot Camps going, and I’ve started scheduling some one off FREE Client Workshops around hot topics. The first one is later this month. Workshop – Pitfalls of Buying Commercial Property at 7pm, 22nd July Have you ever wondered how the law can affect your property purchase? Have you ever wondered if you can use the law to your advantage in a negotiation? Did you ever hope to get some of a lawyer’s time for FREE? Michael Westaway, Commercial Property Partner at TressCox Lawyers, has kindly agreed to spend some of his valuable time with us at our July 22nd Workshop. Michael has more than 15 years experience in Property Law to share with us, so we can expect an informative evening. He has acted for a number of major property investors (including AWB Ltd, Wesfarmers Ltd, ING Office Fund, Becton Group, Bunnings Ltd, Leighton Properties Pty Ltd and Bunnings Warehouse Property Trust to name just a few) in property dealings across Australia. After this workshop we’ll be using the law more confidently in our negotiations. Please phone Ro 03 9818 6755 at our office to book your place now. http://www.mfsimmons.com.au/update_6th_july_2009.html http://www.mfsimmons.com.au/update_6th_july_2009.html Clearance Commercial, rates Workshop, Tue, 14 Jul 2009 09:54:43 +1000 I’ve just been to a very exciting local auction (yes, I’m a property geek) in Hawthorn. The price was quoted for $1.3 million dollars and the five keen bidders pushed the price up to $1,685,000. The vendors are popping the champagne tonight! The agents told me that they had sold 20 properties out of 22 for auction. It looks like it could be another weekend of 80%+ clearance rates. And I’m wondering if this is the turn in the property market? NEW RESEARCH The Victorian Guide to Property Values 2008 is now available. This wonderful source of information is only $20, and provides a history of prices per suburb. It’s a great little resource. If you’d like to order one check out www.land.vic.gov.au BANK MISTAKES As you’ve heard in the news, the four big banks are super busy at the moment with very little competition from smaller institutions. They have hired a lot of new staff and we’re starting to see mistakes in existing accounts. Recently we have seen offset accounts being de-linked, monthly charges for clients on professional packages and packages being removed. If you see something that doesn’t look right please chase it up. The first point of contact is always the bank, but if you have no luck please call us and we can help you. FIRST HOME OWNERS GRANT The Victorian State Government is tackling the shortage of homes available by increasing the grant for first home buyers who build a house to $11,000. So, if you are a first home buyer and you enter in to a contract to build before September 30 you’ll get $21,000 from the Federal Government AND $11,000 from the Victorian Government. That’s a whopping total of $32,000. And if you’re building in a regional area they’ll add another $4,500. (Purchases that are eligible for the state grant are up to $600,000.) http://www.mfsimmons.com.au/update_20th_june_2009.html http://www.mfsimmons.com.au/update_20th_june_2009.html Boom FHOG, Research, Tue, 14 Jul 2009 09:52:48 +1000 The Reserve Bank didn’t move interest rates yesterday. However, they did prepare the market for a possible future interest rate decreases by saying that “scope remains for some further easing of monetary policy, if needed.” The big banks continue their market domination of the Australian market and now ANZ are flexing their muscles. The have just issued advice that they will “reduce or cancel limits at any time” on existing Lines Of Credit, which would force you to repay the loan. Is it a commercial reality that this will be widspread? Probably not! Does it leave a bad taste in my mouth? Absolutely! It’s just one more instance of the major banks (who have an 85% market share of home loans) throwing their considerable weight around. With rates from the smaller institutions as low as 4.82% (Heritage Pro Pack) and 2.99% (Firstmac Fight Back), and flexible terms like 10 years interest only from Choicelend, now might be the time to ‘vote with your feet’ and move to a smaller lender? I’ll be contacting those of you who are with ANZ directly next week, but if you have any concerns before then please don’t hesitate to call me. Upcoming Events Here’s a list of events for our clients, family and friends. Some are already booked out, but some dates still available. A Sydney date has been confirmed (details soon) and I’m going to do my best to finalise a Brisbane date this week. If someone you know has been asking your about property investing this is a great way to skill them up, just remember that we only take booking from people you know so if you tell your family or friends about it remind them to mention you when they call Ro go book their seats. Property Investment Bootcamp Melbourne 24th June, 1st July and 8th July – Booked Out One Day Property Investment Bootcamp Sydney 27th June – Details coming soon, ring Ro to register your interest on 03 9818 6755 Investment Workshop Wednesday 22nd July – Mark this date in your diary. Details to follow soon. Property Investment Bootcamp Melbourne 29th July, 5th Aug, 12th Aug – Booked Out Property Investment Bootcamp Melbourne 2nd Sep, 9th Sep, 16th Sep – To book now ring Ro on 03 9818 6755 One Day Property Investment Bootcamp Melbourne 3rd October – To book now ring Ro on 03 9818 6755 http://www.mfsimmons.com.au/update_3rd_june_2009.html http://www.mfsimmons.com.au/update_3rd_june_2009.html Events Rates, Tue, 14 Jul 2009 09:51:12 +1000 I have spent the last few days doing some professional development with some other investors and we got to talking about the GFC. After talking about the decreases in interest rates, increasing rents, some great property investment bargains, businesses for sale with attractive returns, and great opportunities for profit for those willing to take advantage of new technology and communications we decided to rename it the GFO – the Global Financial Opportunity. Certainly I’m getting that feeling at a local level, in the Australian property market. My evidence for a pending property ‘boom’ is mounting. These are the things I am weighing up: 1. The anecdotal evidence that I hear from clients is that there are plenty of buyers competing for properties up to $1.5 million (and not so much for $2+ million properties). 2. There was in article in the popular press (Australian Financial Review) at the weekend talking about property prices increasing. And when the press starts to report positive news I start to take notice. 3. On the down side the ABS have reported a 2.2% drop in overall property prices. 4. However property statistic company RPData have refuted the ABS’s figures, saying that their research shows an overall increase of 2.8% (4.5% in Melbourne). They say that their statistics are more reliable. 5. An interview with Jan Somers in Property Investor magazine listed this combination of low interest rates, increasing rents and increasing salaries to be one of the best times to buy in the past 40 years. Jan is one of Australia’s property investment gurus. 6. Property Statistic company Residex has just released it’s prediction reports showing the areas where they predict 7%+ growth over the next 5 years. 7. The share market has trended up for the past two months, which has historically preceded a property boom. All this makes me think that the next two years could be very kind to Property Investors. Of course no-one has a crystal ball, and I certainly can’t predict the property market, but I am constantly searching for more evidence on this, and I’ll let you know as things come up for me! Upcoming Events Here’s a list of events for our clients, family and friends. Some are already booked out, but some dates still available. A Sydney date has been confirmed (details soon) and I’m going to do my best to finalise a Brisbane date this week. If someone you know has been asking your about property investing this is a great way to skill them up, just remember that we only take booking from people you know so if you tell your family or friends about it remind them to mention you when they call Ro go book their seats. Property Investment Bootcamp Melbourne 24th June, 1st July and 8th July – Booked Out One Day Property Investment Bootcamp Sydney 27th June – Details coming soon, ring Ro to register your interest on 03 9818 6755 Investment Workshop Wednesday 22nd July – Mark this date in your diary. Details to follow soon. Property Investment Bootcamp Melbourne 29th July, 5th Aug, 12th Aug – Booked Out Property Investment Bootcamp Melbourne 2nd Sep, 9th Sep, 16th Sep – To book now ring Ro on 03 9818 6755 One Day Property Investment Bootcamp Melbourne 3rd October – To book now ring Ro on 03 9818 6755 http://www.mfsimmons.com.au/update_1st_june_2009.html http://www.mfsimmons.com.au/update_1st_june_2009.html Boom, Events Tue, 14 Jul 2009 09:48:07 +1000 As the Chinese proverb says – May you live in interesting times! And we certainly are!! The share market is volatile, the banks are tightening their credit criteria, and most interestingly I got an email from Realestate.com.au about ‘How to Sell Your Property’. This reminded me of the beginning of on line share broking 15 years ago. It made me wonder if there will come a time when full service Real Estate Agents will be unusual, and most people will sell their own properties on line? May we live in interesting times!! Buying Property in your SMSF – THIS WEDNESDAY (22nd May) This Wednesday at 7pm we’ll be workshopping the pros and cons of buying Property in your Self Managed Super Fund. Please phone Ro to secure your seat. After a eighteen months of falling stock market prices, and recent changes in SMSF legislation, I’ve had a lot more interest in using Super Funds to buy property. On Wednesday we’ll be discussing the how do to it and what to expect. Please phone Ro on 9818 6755 to book your place. 95% Loans The credit criteria at most of the banks has changed recently, with the maximum loan amount now only 90%. The notable exceptions to these are for Existing Clients of some banks. So if you’re planning to contribute only 5% + costs to the purchase of your next property please call me to discuss the new parameters of this strategy. http://www.mfsimmons.com.au/update_18th_may_2009.html http://www.mfsimmons.com.au/update_18th_may_2009.html 95%, Workshop Tue, 14 Jul 2009 09:46:45 +1000 The federal budget was announced last night and the big news in the property market was that the First Home Owners Boost will be extended for six months. At the moment: New Home buyers receive $21,000 and Existing Home Buyers receive $14,000 From October 1 2009: New Home buyers receive $14,500 and Existing Home buyers receive $10,500 From December 31 2009: It will revert to the original amount of $7,000 (Note that state government and regional bonuses are added to these amounts) How will the budget affect the property market? The main effect will come from the phasing out of the First Home Owner’s boost. It seems that the first home buying frenzy will continue, and that means that prices for houses around $500,000 will continue to grow until the end of the year. Tax cuts will also impact people’s confidence in the market, with a little more in their pockets each week, coupled with low interest rates and high rents, encouraging people to buy their own homes sooner rather than later. The rail and road projects announced may present buying opportunities as commutability, particularly from the South West sector is improved by the West Werribbee rail link. Wednesday 20th May at 7 p.m. Buying Property in your Self Managed Super Fund Speaking of Bricks and Mortar, after a volatile year in the stock market, I'm getting lot's more interest in buying property using a SMSF. So I have asked Katrina Gay, financial planner to the stars, and Sharon O'Malley, accountant with the mostest to join me to discuss the pros and cons of buying property in your SMSF. Please phone Ro in the office on 9818 6755 to book your place. Property Investment Bootcamp There are still two places available in September and three in October. If you’re thinking about attending, please ring Ro (03) 9818 6755 to reserve your place now before they go! ]]> http://www.mfsimmons.com.au/update_13th_may_2009.html http://www.mfsimmons.com.au/update_13th_may_2009.html Bootcamp budget workshop Wed, 13 May 2009 13:33:37 +1000 Buying Property in your Self Managed Super Fund Wednesday 20th May at 7 p.m. Speaking of Bricks and Mortar, after a volatile year in the stock market, I'm getting lot's more interest in buying property using a SMSF. So I have asked Katrina Gay, financial planner to the stars, and Sharon O'Malley, accountant with the mostest to join me to discuss the pros and cons of buying property in your SMSF. Please phone Ro in the office on 9818 6755 to book your place. A Few Words on Fixed Rates The banks put their fixed rates up without warning two weeks ago. By doing this they have deterred a lot of people who might otherwise have fixed. This supports the notion that there is a shortage of fixed rate funding in the wholesale credit market. These actions have fuelled speculations that fixed rates will drop further towards the end of the year. So remember the golden rule: ‘Fix because you want certainty, not to gamble with the bank’. There are still some great fixed rates around now if you are seeking more certainty in your lending. And if you’re not too bothered you can kick back and enjoy the low, low variable rates. Property Investment Bootcamp – New dates scheduled I’ve just finished the first round of Property Investment Bootcamp. Here’s what some of my Bootcampers said: “Love, love, love the negotiation planning” “Enjoyed sharing the questions and answers from other participants” “Liked real world examples” “The process is broken up in to easy steps” “Thank you for a wonderful course. It was very detailed and educative.” “Lots of tips – excellent!” Yes, that’s right, just like Bootcamp for your body, this is Bootcamp for your investment portfolio. Over three nights I’ll be presenting loads of information and tips on how to buy an investment property in six easy steps. Don’t delay to phone Ro if you’re keen – the courses have been booking out quickly. I’ve used these simple and easy to follow steps to purchase 9 investment properties over the past 10 years, so I know they work. The June and July series are booked out so your next opportunity is for September dates. This presentation series is only for our clients, their friends and families and places are limited. So if you or someone you know would like to attend please phone us to book your seat. If you’re telling a friend about us be sure to tell them to mention your name when they phone Ro. 1. Wednesday 2nd September, 7 p.m. a. What to look for in an investment property? What physical characteristics? Growth? Scarcity? Value? Rental return? Desirability for tenants and growth? How to research it? What books/sites/reports/seminars are available? b. How you can afford an investment property? How much will it cost you upfront? Stamp duty and other hidden costs? FHOG eligibility? How much will it cost you ongoing? Buying an investment property with no cash? What are non-cash costs? Cash flow positive vs. cash flow negative? 2. Wednesday 9th September, 7 p.m. a. Negotiating tips for the right outcomes? What is a Contract of sale? What can you include in your Contract of Sale offer? Private Sale vs. Auction? Real estate agent secrets? Conveyancers vs. solicitors? b. So you’ve bought – what happens next? Settlement period? FHOG? How to get a property manager? Your first mortgage payment? 3. Wednesday 16th September, 7 p.m. a. Renovating for rent increases? And capital increases? Using a valuer? Using a quantity surveyor? b. What happens next? Fixing rates? Interest only vs. principal and interest? Using your growth? What is cross collateralisation? Cash flow? Budget? When do I sell? ONE DAY PROPERTY INVESTMENT BOOTCAMP Some people have been keen to come to Bootcamp, but find it difficult with commitments to small children or long work hours. So I’m running a special one day Property Investment Bootcamp event on the 3rd of October. If you’re keen to come please call Ro as soon as you can, this one will book out quickly! It will be a big day where I squeeze everything in to a 9 – 5 session. So expect a big day with big value! The day will run from 9 a.m. at our offices in Hawthorn. Please phone Ro on 03 9818 6755 to book your seat. ]]> http://www.mfsimmons.com.au/update_5th_may_2009.html http://www.mfsimmons.com.au/update_5th_may_2009.html Bootcamp Fixed SMSF Tue, 05 May 2009 23:27:31 +1000 If you are planning to fix your interest rate - do not delay. Please call me this week. Buying Property in your Self Managed Super Fund Wednesday 20th May at 7 p.m. After a volatile year in the stock market, I'm getting lot's more interest in buying property using a SMSF. Katrina Gay, finacial planner to the stars, and Sharon O'Malley, accountant with the mostest will join me to discuss the pros and cons of buying property in your SMSF. Please phone Ro in the office on 9818 6755 to book your place. Property Investment Boot camp Our first Boot Campers are underway, with the first session under our belts last night. We had a great time talking about all things property and sharing some property stories. Are you thinking you’d like to buy an Investment Property but don’t know where to start? Do you get the feeling there’s information about Property Investing out there that could benefit you? Have you watched lots of people winning by property investing and wonder how? My Property Investment Boot camp has been booked out for June, so book your place in July now by phoning Ro on 03 9818 6755. Just like Boot Camp for your body, I’ll give your investing a workout over three nights covering: Week 1 – Which are the best investment properties to buy? Week 2 - How to buy and what needs to be done to secure your investment property? Week 3 - What happens after you have your investment property? This seminar is open to my clients and their family and friends only, so if a friend is going to phone Ro on 9818 6755 to book a seat make sure to tell them to mention you! The next available sessions run on July 29, August 5 and August 12 from 7pm at our offices. Spaces are of course limited so be sure to phone us to book ahead by phoning Ro on 9818 6755. Wishing you and your family a safe and Happy Easter.]]> http://www.mfsimmons.com.au/update_16th_april_2009.html http://www.mfsimmons.com.au/update_16th_april_2009.html Bootcamp Fixed Workshop Tue, 05 May 2009 22:03:30 +1000 Property Investment Boot camp Are you thinking you’d like to buy an Investment Property but don’t know where to start? Do you get the feeling there’s information about Property Investing out there that could benefit you? Have you watched lots of people winning by property investing and wonder how? My Property Investment Boot camp starts next week, so book your place now by phoning Ro on 03 9818 6755. Just like Boot Camp for your body, I’ll give your investing a workout over three nights covering: Week 1 – Which are the best investment properties to buy? Week 2 - How to buy and what needs to be done to secure your investment property? Week 3 - What happens after you have your investment property? This is a free seminar that it open to my clients and their family and friends only, so if a friend is going to phone us to book a seat make sure to tell them to mention you! The sessions run on Wednesday from 7pm at our offices. Spaces are limited so be sure to phone us to book ahead. ]]> http://www.mfsimmons.com.au/update_7th_april.html http://www.mfsimmons.com.au/update_7th_april.html Bootcamp Tue, 05 May 2009 22:01:52 +1000 A great time for a depreciation schedule. If you’ve had your investment property for over two years, you’ve probably noticed a big change. It’s not costing you as much (if anything at all). Rents have gone up and interest has gone down, which is great until it gets to tax time. To get the best deductions possible, you can get a depreciation schedule. These are done by licenced quantity surveyors. The ones that I just used promised that if they can’t get your money back in the first year they’ll refund the cost, so that’s a great deal. It’s also a quiet time (pre tax season) for them at the moment so it’s a great time to negotiate a good rate…… Property Investment Bootcamp Yes, that’s right, just like Bootcamp for your body, this is Bootcamp for your investment portfolio. Over three nights in April I’ll be presenting loads of information and tips on how to buy an investment property in six easy steps. I’ve used these simple and easy to follow steps to purchase 9 investment properties over the past 10 years, so I know they work. This presentation series is FREE to our clients, friends and family. So if you or someone you know would like to attend please phone us to book your place. If you’re telling a friend about us be sure to tell them to mention your name. 1. Wednesday 15th April, 7 p.m. a. What to look for in an investment property? What physical characteristics? Growth? Scarcity? Value? Rental return? Desirability for tenants and growth? How to research it? What books/sites/reports/seminars are available? b. How you can afford an investment property? How much will it cost you upfront? Stamp duty and other hidden costs? FHOG eligibility? How much will it cost you ongoing? Buying an investment property with no cash? What are non-cash costs? Cash flow positive vs cash flow negative? 2. Wednesday 22nd April, 7 p.m. a. Negotiating tips for the right outcomes? What is a Contract of sale? What can you include in your Contract of Sale offer? Private Sale vs Auction? Real estate agent secrets? Conveyancers vs solicitors? b. So you’ve bought – what happens next? Settlement period? FHOG? How to get a property manager? Your first mortgage payment? 3. Wednesday 29th April, 7 p.m. a. Renovating for rent increases? And capital increases? Using a valuer? Using a quantity surveyor? b. What happens next? Fixing rates? Interest only vs principal and interest? Using your growth? What is cross collateralisation? Cash flow? Budget? When do I sell? ]]> http://www.mfsimmons.com.au/update_2nd_april_2009.html http://www.mfsimmons.com.au/update_2nd_april_2009.html Bootcamp Depreciation Tue, 05 May 2009 22:00:36 +1000 Fixed Rate Notes • At a presentation given by the chief economist for one of the Major Banks, he mentioned that he thought fixed rates had ‘bottomed out’. • This was a surprise to me because in the past the banks always talked about set their own fixed rates according to what they expected from rates in the future. • At present, however, they are limited by the fixed rates available in the wholesale market. • This means that there aren’t many investors willing to lend money to the banks for 5 or more years, so the rates that they’re asking is high. • Then the banks add their margin and find that rates for 5 or more years are very high. They don’t see this changing in the short term. • Having said that, CBA and Westpac just reduced most of their rates by .2%, so maybe there’s still a little bit further to go before we ‘bottom out’ on fixed rates. • However, it’s in interesting perspective and different to the usual situation. Workshop – This Wednesday at 7p.m. How does the GFC affect you? Katrina Gay of Nicholson Financial Planning will discuss how the Global Financial Crisis has affects property investors and some strategies for managing through the tough time. I will debunk some of the jargon in the paper lately, we’ll discuss whether it’s a good time to fix and how property prices are going. Wednesday March 25th at 7pm in our offices. Please phone Ro to let us know if you’re coming. ]]> http://www.mfsimmons.com.au/23rd_march_update.html http://www.mfsimmons.com.au/23rd_march_update.html Fixed Workshop Tue, 05 May 2009 21:51:59 +1000