Forum Replies Created
Hi Screming… before you scream some more, it may come as a surprise to you that I did not read your post at all, past the first lines and jumped to your last proposition “So, tell me what your concept of success is… Remember, it is YOUR definition, not what you think it should be…”
I was more intersted to follow up general opinion on the SBS show you mentioned which had a slightly different objective than people’s success, and that was to promote a book on status that in my opinion was full of c**p.
So my dear, your version of success or lack of it had absolutely no bearing on my post, and in fact I have yet to read what it is… something that I think is obvious since I never mentioned you or your opinions on success or the lack of it.
But since you made such a good case,[baaa] I promise I will now read it in full and in detail. I may so learn what makes you tick …
[biggrin][biggrin]By the way if when I refer to “the author” you think I refer to you, well…[cigar] what can I say,[eh] may be you are an autor of some sort but no… I clearly wasn’t.
I was refering to the author of the book in question that was on the very show you watched . . .you must have catched it at the end or watched it during commercials.
What is that expression again? Jumping the gun?[confused2]Or is it gunning the jump?
PS
Your response above is really funny huhu …wow! lucky for me that you are far away!!![fear][fear][fear][fear]May God prosper you always.[biggrin]
MarcMm, the agent may like to think it is ‘normal’ but in a full brick house the brick wall is structural so that can be an expensive problem.
It is either the foundation moving due to dry weather conditions or a broken foundation that needs underpinning, (expensive).
Call in the buidling inspector.May God prosper you always.[biggrin]
MarcThank you Geo.
I am sure there must be lots of rules and regulations, yet for one, most council will allow higher density if the property is to be rented to pensioners o disabled people, a clause by the way, vastly abused by unscrupulose developers who built townhoses where it was not allowed to, and sold them since this building rules have no mechanism in place to follow up. So I should be able to build a packed little town for the oldies hehe.May God prosper you always.[biggrin]
MarcBirdy, from the information you give, it is hard to say if it is a good investment or not. It seems OK with 9% return and no expenses, yet a commercial property has higher risks associated with vacancy. If the tenant goes, how easy is it going to be to replace him? That is the mayor risk for commercial that can stay vacant for month and even years….of course I have no idea about yours, potential capital growth, etc
. I must say that making a big generalisation I personaly would like to have a bigger margin than 9%, more like 15% but hey, it may be a gem for years!As for the Interest Only, in theory it is better to pay your home off first since you cannot claim the interest on you PPOR…. Hoever, (and sorry I am not as experience as others are), in my opinion and in the current market climate of possible rate increase, I would feel better paying a bit of the principal off and reduce the borrowing risk, but we are all different of course.
My 2 block of flats are very positive and I put all the profit back in the loan even when I have my own smallish mortgage on my PPOR, because the area they are in has a higher than average riskMay God prosper you always.[biggrin]
MarcThe ticket arrived in the post today addressed to my wife. The AMA must be selling their list of members around.
Anyway, she gets the creeps just going to the accountant once a year, so a seminar is out of the question.
I just called to the 1800 registration number on the card and they confirmed that it is $149 but free with this complementary tickets. They will probably be flogging books or other $5,000 seminars I suppose.
So you want to go?
PS
Just noticed that the letter came from UtahMay God prosper you always.[biggrin]
MarcAs for loans, isn’t it true that a bank can recall a loan any time?
May God prosper you always.[biggrin]
MarcI think you should all wait after the 3/7 when I will be able to tell you all, how to buy properties with 55% discount all the time. In this way you will only need to borrow 55% and not 105% … Does this sound logical enough?
May God prosper you always.[biggrin]
MarcHi Chris, welcome!
I do not think you risk the camper trailer just yet, it seems you are doing fine.
As for your retirement plans, it all depends when do you want to retire.You could use your equity to borrow and purchase cash flow + properties or you could sell, buy a smaller unit and use the remaining capital for deposits on CF+ properties (I would prefer this last one) Either way you should target returns around the 10% mark.
The only hiccup is selling your home now that the market is a bit sluggish particularly with properties over 500k out of reach of first home buyers grant and it is and will be more of a buyers market in Sydney for a while.
People on this forum, me included favour this strategy over purchase that target capital growth and have smaller returns, and Sydney seems will not see much capital growth for a while, after the madness of last year.
Others may be able to comment on the Gold Coast market, if there is any CG left there or not.
May God prosper you always.[biggrin]
MarcCount on it! [cigar]
I hope it does not involve gassing the owner with laughing gas and force him to sign the contract.[fear]Seriously, I think that since this are all American speakers it will have to do with the RE market in the states, where if you are in the poo with the bank, your property suddenly is worth just what you owe the bank and not what it is realy worth if you were financial on your loan.
May God prosper you always.[biggrin]
MarcThank you for the link and for the added idea of extra security. Didn’t think about that one.
Will keep on looking.
I had the idea of something much more reduced in scale, sort of like a Greek or Southern Italy village, with only walking paths between the miniature houses, and vehicle access from the back.May God prosper you always.[biggrin]
MarcWow [strum] just a minute!!!! who says I dislike philantropy!
Just want to know if it is worth my while, a whole day is a long day.
So you are saying that it is a day well spent?In that case…I have two tickets so you are welcome to come, providing you dont talk all the time during the seminar.[lmao]
May God prosper you always.[biggrin]
MarcFreedomfinder, you asked some very personal questions. I hope we will see your responses as well.
How much is enough?
It is never enough, because the fun is in the challenge not in the results. First comes the million, then the billion, then who knows?Trying to achieve?
Again, achievement and success are a journey that must be enjoyed.
Will reaching a goal make one happier?
No. Happiness is in succeeding every day one step further, not in achieving one goal and then sit back. Such goal will soon lose its attraction. That is why we must “aim at the sun”.May God prosper you always.[biggrin]
MarcNow we are talking.
Status is mostly an assessment by others; we mostly assess success ourselves.The ethics or any other value of either status or success is irrelevant to this.
When we know and perhaps admire someone through his status, we assume that such is a measure of success, yet if you think about a few hypothetical examples, you will soon reach the same conclusion that status is a poor measure of success, and so digress from the author of the book in question.
May God prosper you always.[biggrin]
MarcMm… I hear you loud and clear my friend, yet no one seems to answer the question.
Perhaps I should illustrate.
Mr X wins the big brother “contest”. He acquires status and products endorsement comes his way.
Is this status a measure of success?A philanthropist dedicates his life to the public health of disadvantaged communities but when his quest remains in obscurity, he acquires status by rebuking publicly political figures. Is his status a measure of success?
May God prosper you always.[biggrin]
MarcAh madhun, you are on dangerous territory.
Punishing the efficient and successful to subsidise the rest is a national sport, and the far reaching consecuences of supporting such sport with the idea that there must be some evil in success and virtue in failure is not properly understood.I agree, income tax should be a simple equation.
income – tax = net income… and no threshold or brackets or concessions of any sort should apply.With such formula perhaps as little as 20% income tax accross the board should be sufficient. That together with the abolition of tax on savings and superanuation and making super contributions tax deductible would be real tax reform.
May be next time!
May God prosper you always.[biggrin]
MarcOthers have done it discretely by describing the property in question.
Where is it and what is it?May God prosper you always.[biggrin]
MarcYes, agreed again.
So do you think that Status is a true mesure of success or not?May God prosper you always.[biggrin]
Marc[baaa][baaa][baaa]
I would like to know how is it possible to know the background of 90% of the contributors here.
That in itself is an achievement that deserves to be noted!!
The gratuituous tar to such alleged ex public servant is also uncalled for.
I wonder who can guess the age and occupation of Mr Greed?May God prosper you always.[biggrin]
MarcAusPop, you are spot on.
Ou tax system is based on the Robin Hood concept, only because it is popular with the massess who are likely to vote whoever implements anything that remotely resembles take from the “rich” to feed the poor.
Negative gearing would be long gone if it wasn’t that so many ordinary workers have taken up such concept as a means for saving.
If negative gearing would be a more exclusive strategy from the eastern suburbs, it would have a royal commision investigating the “obscene profits”, and investors would appear on front pages with distorted faces swallowing phesant legs
and all their bedroom indiscretions made part of the investigation.If re-election would be outlawed, perhaps our politicians would think in governing for the good of the country in their spare time, rather then for their own re-election.
Australia is certainly not the place for the rich or the successful. The son or the grandson of the successful is a firm candidate for emigration.
May God prosper you always.[biggrin]
MarcAlternatively you can buy a business/financial calculator. They cost some ~ $100 new but here is one for less.
http://cgi.ebay.com.au/ws/eBayISAPI.dll?ViewItem&category=3294&item=5701968887&rd=1&ssPageName=WDVW
PS here is one for free:
http://www.finance.cch.com/sohoApplets/FinCalc2.html
May God prosper you always.[biggrin]
Marc
