IMHO – NEVER cross-collateralise an IP with your PPOR is you can help it!

Cross-cat with other IPs if you must (or you want to simplify the account keeping), but cross-catting with your PPOR can increase the risk of losing your home

Using a LOC over your PPOR to finance a IP is A-OK in my book however….

Cheers,

Aceyducey

yack,

Frankly a $1,000 penalty isn’t that bad. There are loans with much higher penalties.

I’d wear that level of penalty comfortably.

ALWAYS when taking out loans, you don’t rely on the broker’s word – you read all the documents yourself. You are the one with the obligation & you are the one with the responsibility.

Cheers,

Aceyducey

Originally posted by redwing:
Aceyducey..

Things seem to be changing as of late from what i read in the papers,A “pile’ of Dollar$ was wiped off the Stock market according to Saturday paper, Oil/Fuel prices rising, some shares retreating, just wondering if rates will rise again, i think maybe yes in a few months..

Does that mean you want to take…[Read more]

Melbear,

It’s not too bad – not the cheapest but certainly not too expensive.

More important than cheap is reliable. You don’t want the site off-air half the time!

Cheers,

Aceyducey

Originally posted by NEWGEN:
I’ve just gotta get the wall even and the tiling should be a breeze. Hope it all goes well.. [confused2] hehe.

You could render the walls to make them flat or use a lot of tile goop where necessary

Cheers,

Aceyducey

I recommend that if you’ve played cashflow a few times you also take a look at Hybrid’s Real Estate game.

It’s more focused than Cashflow & more of a simulation than a game but it certainly can teach people quite a bit about investing.

There’s a thread with reviews of it here, including comments by the designer (the last post from Kieran):…[Read more]

It’s simply too boring to spend all your time ‘playing’ – particularly when most of the people your own age are off in their wage-slavery all day….or when you have young kids!

Better to spend the time productively on things – giving back in the particular manner that suits you, doing some ‘work’ that you enjoy, having 50 hour long marathon PC…[Read more]

Originally posted by Baloo:
You made an assumption of 7% annual growth compounding, that is an average over time but it’s a fair bet to assume that 7% growth per year over the next 2-4 years is optimistic. Factor it a 7% annual growth averaged out over the last 10 years and I think you’ll find growth could just as easily be flat as opposed to…[Read more]

NEWGEN,

Have you considered doing it yourself?

Neither task is particularly hard.

However I do speak from a fair amount of experience.

If you’re not comfortable it’s better to pull in a professional – but if you can work with them & learn how they do their jobs, these can be very useful skills for next time.

Cheers,

Aceyducey

Coney,

I agree with Monopoly – if it works for you, go for it

There’s no one magic pill in property, many different strategies work. The key ingredient to their success is really the commitment & expertise (meaning how well you research and understand what you’re doing) of the person executing the strategy.

Cheers,

Aceyducey

Mel,

You should kick up a stink. Let a solicitor get away with this & there’s no telling who else they will burn next.

We had our full conveyancing amount refunded last purchase because the solicitor put the wrong date (by a month) on our three month settlement (with access for renovating)…..unfortunately we couldn’t claim the interest on a…[Read more]

HHH,

Push for another valuation by showing PROOF of the comps and that the valuer got it wrong.

We always give valuers a nice little kit with comps, recent sales & who to call at REAs to verify them. It works wonders on ensuring that properties are not under valued….because you can always take the same info to the bank & the bank may take away…[Read more]

Here’s a thread at Somersoft discussing that article on women BTW: http://www.somersoft.com/forums/showthread.php?p=102292

Make sure you read Corsa’s post at the end of the thread – it’s a very clear look at the different ways five women are approaching investing.

Original article is at:…[Read more]

Originally posted by kay henry:
I do hope VIP (if he exists) HAS a gf- women are in a pretty good financial position these days in their OWN right, and expect guys to be too.

Some are, some aren’t.

There was an article on the topic recently in the SMH about how many women are neglecting their own financial success due to being brought up to…[Read more]

Originally posted by kay henry:
Actually Acey, I worked through all my degrees- except the first, which I got special leave to finish in 2 years – NOT that it’s any of your business, but your suggestion of me sitting around doing nothing is offensive.

Kay, you really have to get that chip off – note the biggrin ie: [biggrin]

Cheers,

Aceyducey

Mick,

You should be able to change Trustees…but check with your accountant!

Cheers,

Aceyducey

Originally posted by kay henry:
Yes, it’s amazing what some people can do… and what some people SAY they can do.

And never be put off by believing you CAN’T do.

Remember Henry Ford’s quote ‘whether you believe you can or you believe you can’t you are right!’

The only way to actually do things is to go do them….

Cheers,

Aceyducey

Originally posted by kaloni:
Keep an eye on the US rates I think they will go up soon so my bet is if they will not go up June Then july for sure

Kaloni, you should consult to the US Federal Reserve. You know more about what they’re doing than they do [biggrin]

US has indicated that they will raise rates in August at earliest.

It’s been in the…[Read more]

My parents charged my sister board after she continued living at home while having a good income (the rest of us moved out before this point)….when she decided to go buy her first place they gave her all the board money back plus interest!

They’d just been letting it build up as a way to help her save for her first property

I’m thinking about…[Read more]

Their Peking Duck is world famous as well!

I try to visit on every trip I make to Melbourne

Cheers,

Aceyducey