Forum Replies Created
Yeah, thats true Dwolfe,
Im no expert at budgetting my own money, darn, tyring to plan what i spend and where is such a mission.
I guess a financially ignorant population can be much easier manipulated by the 'powers that be'?!well, its last quater 2010 and house prices in Perth are still quite expensive. Nothing too dramatic has happened in the Australian economy, yet.
Lets see what the next 2 years brings?
I first read cashflow quadrant which opened my eyes and mind. It reinforced the emotions i had at the time and the goals i was chasing. im pretty much a fan of RK.
After reading that book ive become an avid reader of many other books related to money. Ive attended seminars, had a couple of mentors which have helped me do a couple small deals in the past.
Good books to get me started (rk) but at this point and time im starting again so I need something more specific to my situation.
I like D.Trump where he talks about making his come back. Im not saying im in his league – hell no – but I can relate to the emotional aspect he touches on. He says 'when your in bad times, you dont have the same energy/spirit as when things are booming'.
I have discovered many other great authors. Lately been reading stuff from Stuart Wilde. Very interesting, he talks about quantum phsisics etc.
Then theres 'Think and Grow Rich' – by Napolian Hill. V. good book! inspired me.
Right now im going to have to knuckle down and save up for a deposit which reminds me of Adam Smith – 'LABOUR IS WEALTH/CAPITAL'..
From my wider reading, but dont quote me, i have learnt that ALL governments in the developed world have and use US currency to trade with and store in their govt vaults – physically or digitally or whatever.
When the US dollar weakens further it not only affects the US but every govt that holds US currency.
So if the US currency weakens it means it is not as valuable therefore it cant buy as much.
If other govt's cant buy as much with their own stash of US currency then they will exchange it for another.
If the US currency loses value faster than expected other countries will try and exchange/spend/use their US currency quickly so as not to lose spending power.
If US currency drops its value quickly a whole lot of nations may dump it fast.
If there is a worldwide dumping of the US dollar it could cause some major shockwaves.
In order to stabalise the world certain US banks have been keeping the price of Gold down – apparently.
This makes it seem as if the US economy is strong and travelling along nicely.
If there is a major stockmkt crash in the US or somethin similar it could unsettle their economy.
If every country dumps US dollars how would it affect real estate and prop invsting in Australia?
hey thanx, yes true – set up a SMSF then use that to deposit investments. However i'll be faced with approximately 2k p.a running costs. yes i understand.
Im better off managing my super better, just means more research.
In terms of coming up with a deposit im going to have to do something creative, just to cut the time in half. Maybe buy a cheap old property out woop woop just for the equity or somethin similar.
Probably need to expand my knowledge/mindset a bit more, as opposed to hitting the niteshifts and working longer hours/more jobs.
thanx team
haha nice one, im actually 30 years off 64.
I have spoken to a group called – superannuation recall. Apparently, according to them, they are able to help me access my super. then i can use it for an investment property deposit or start a business.Now i may seem a tiny bit naive but this scheme sounds a little dodgy to me. So I didnt go thru with it.
Im caught in this situation again.Its crap really. Really.
Ive allready used the first home owners grant in '03. ive made 2 purchases and 2 sales so far in my property investment journey. Now im back to square one, unfortunately.thanx guys
What exactly do you mean by 'clean skin?' – ive been in my current job 7 months, and ive been renting the same flat for 2 yrs 8 months.
Ive only got $1000 saved for a deposit so far. However i have $10, 000 saved in my super. i want to use it as part of my deposit before it flutters away in a sharemarket crisis, i just dont know who to speak to…
Any ideas anyone?
Have read somewhere that when russia gets its shit together they are going to bid for business in china. They have a big mining sector and are looking at undercutting australia for chinese business!!!
I actually need to find an accountant here in perth as im starting out again, great to know Mr Chan has an office in the CBD here!
Hi,
Im new to Perth. I would like to attend the next meeting as im looking to start investing.When and where is the next mtg?
thanks,
LoanwolfI just moved to london. Would it be crazy to leave here and move to Bulgaria instead. Get a job there, fully immerse myself in the language/culture etc and pursue financial freedom from Bulgaria instead of london. I mean its cheaper to buy property for one thing and I could see things from the inside- so to speak. It would be an experience. What do you think?
Its in Qld. The property is sitting on 800sqmtrs but it doesnt have any car parking or driveway. Its in a prime position but on a kind of a slope. The owner wants early 300’s but is willing to negotiate. If there was a way to get council to build an access kerb on the foot path, then maybe a level of carparks (groundlevel) could be built and appartments on top. Seaviews and cbd vista available the higher you build.
[biggrin]
Dazzling that sounds like a great idea. What sort of commercial property should I be looking at?.
Why comm. prop as opposed to a $100k residential property?Where can I find secure funds returning 15% or more?
cheers
LOANwolf
(ive just moved up in rank – 2 green stars next to my name….YEEHAA!!)[biggrin][biggrin]Well I hate to admit to being a simpleton, haha, but if I hadn’t read RK I wouldn’t have made 2 purchases and 2 sales of property. Hence I wouldn’t have discovered this site.
Dazzling, I think you’re spot on, man. Due diligence is require for each individual IP. I think keeping basics in mind ie close to services, banks, shops, CBD etc is 1 of the best criteria particularly in a depression, I think??
Who said ‘Theres no Santa?!'[biggrin][biggrin]
Ha Ha Ha Ha
“JER-RY…JER-RY…JER-RY…JER-RY…JER-RY…”
(oops, I thought we were on springer)[biggrin][chill]
hi,
I spose developing something in the highlighted area could be rewarding?
What if I bought a big block of land cheaply, and held on to it for a little bit?
What are the demographics of this area?cheers[biggrin][biggrin]
What if you have a 1 bedrm unit with a space for 2 cars right next to the building?..
Im wondering what complications there are if you would turn one of the carpark spaces into a 2nd bedroom!
How would councils regulate in this instance?.ADDING VALUE?????????!!!!!!!!!!!!!![biggrin]
GDay team,
How about ‘The Stink Bed’. Ha Ha
Or “The mud and whistle’. He He, get it (the pig and whistle)……[biggrin][biggrin][biggrin]Good luck!!
Thanx Surrey,
These are the ideas that I REALLY NEED TO HEAR RIGHT NOW.
$50k is not much in this game we are playing, but its a good start for me (as inorder to aquire it ive learnt/experienced a bit).My next question is ‘am I working to save for another ip or just to pay my rent?’.
If the latter, i may as well work part time instead using the remainder of my time for deals, and using my $40k and possible equity in the few IPs I may have for leverage.What do u think team[blink]
