Originally posted by kay henry:
Please don’t name-call.

I’m sorry Kay – I don’t understand your point.

There were no names called.

I thought the idea was to talk about goal setting, not about people who don’t set goals & get defensive about people who do.

Cheers,

Aceyducey

Originally posted by kay henry:
I guess I am looking at the average person who was not born into wealth.

So am I – why would someone born into wealth bother working? [biggrin]

I like the way you say pleese – have you more updated figures you can share with us?

Mine go all the way back to 2003. They are in the ABS website if you want to look…[Read more]

Boardy,

I suggest you stop using all capitals to type – this is commonly on the internet referred to as SHOUTING

As you can see from the way the caps emphasise the last word

Cheers,

Aceyducey

Alex,

It’s not that bad to not have a Trust – I know people with more than 20 properties who buy all of them in their own names.

To set up a Trust consult a good accountant. One, who unlike your current accountant has experience with property investing & investing in general & in establishing Trusts.

You can also get a copy of Trust Magic…[Read more]

Hux001,

I haven’t been saved from litigation by my corporate Trustee as yet Hux…but you can’t put the company in place AFTER you get sued can you

Personally I like the extra degree of separation provided by a corporate trustee. It makes life much easier!

Also bear in mind that a corporation is a limited liability entity, versus you, a human,…[Read more]

Isn’t the easiest way to be born into wealth?

Strangely enough the concept of the full-time wage being the ‘safest’ option for making money, it’s a truth that of the 95% of working Australians fewer than 10% will retire wealthy & well over 60% will retire destitute & reliant on the pension.

Based on this I do NOT regard a full time wage as the…[Read more]

luisman,

I don’t know the exact situation here, but having bought a lot of books & tapes I wouldn’t be surprised to find the same info repeated.

The idea is that you’re learning it through a different medium – audially rather than visually – so the information sticks better. Repetition is very valuable in forcing that knowledge to stay in most…[Read more]

Originally posted by lifeX:
Hope this is valuable[idea].

It’s very valuable lifexperience

Good use of creative thinking to really increase the rental return.

I have a number of mates who do well out of student housing & one mate (who’s back at uni) who worked out it was cheaper to buy & then rent out all the other rooms to students….the…[Read more]

Originally posted by kay henry:
Acey, this is a discussion forum. People have differing perspectives. Look at every topic and you’ll see a range of different responses and opposite points of view.

You can handle it, can’t ya?

Do you actually READ my posts before replying Kay?

From my last post:
And BTW – I don’t think anyone who has commented…[Read more]

Take a look at http://www.navra.com.au

They have an approach which incorporates much of what you are talking about & covers the aspect of creating income streams from equity.

Steve Navra’s seminars are well worth the investment (IMHO)

Cheers,

Aceyducey

Originally posted by kay henry:
Your situation isn’t *too* bad :o) Don’t let others patronise you. I see you are in sydney. Given that you have possibly 13k in “savings” of cars, plus you can get the 7k first home owners grant on a home purchase (not an investment purchase), that’s 20k you have available to you. Unfortunately, you’ll probably need…[Read more]

Something else to think about – the ‘convention’ right now is 0.25% (or 25 basis point) changes in interest rates.

There’s nothing preventing the RBA from choosing a different amount – the convention used to be 1% (100 basis points) and then became 0.5% (50 basis points), now 0.25%

In the future we could see the RBA choosing to return to larger…[Read more]

devilcv8,

Horrible situation, but not amazingly uncommon. Even pre-approvals are no guarantee.

I suggest you contact a good mortgage broker (one who deals with a lot of investors) & see if the situation can be saved.

Try Rolf Latham (www.asapfinancial.com.au).

Cheers,

Aceyducey

Let’s see – many Australian property markets are very slow, flat or dropping slightly at present…you borrow 100%.

In the wrong area you could be underwater for a number of years before CG increases take your equity back into positive territory.

Is this such a good idea?

Sure in twenty or thirty years you’ll probably be fine, but how about the…[Read more]

Seek professional advice – the advice in this thread is getting positively dangerous!

Cheers,

Aceyducey

Originally posted by kay henry:
For me, financial goal-setting etc is not so much the way my head works. I don’t see life as an accumulation of wealth.

Kay,

Goals don’t have to be financially based.

A goal can very well be to have a picnic every month with someone you love.

Personally the majority of my goals are personal achievement ones

And…[Read more]

Google is your friend:

http://www.google.com.au/search?q=Warren+Borsje&ie=UTF-8&oe=UTF-8&hl=en&btnG=Google+Search&meta=

Cheers,

Aceyducey

Originally posted by wayneL:
I would have thought one of such vast experience such as yourself, would be aware of the use of metaphor.

Clearly my experience is nowhere near vast enough

However I never trust metaphors that attribute physical laws to human-driven enterprises.

Humans are far too unpredictable for me to put my money down based…[Read more]

Originally posted by thefirstbruce:
i.e. if you are on your way home hungry and walk past a pizza shop, and have no idea of what you will cook for dinner, then it is so much easier to buy that pizza.

I agree Bruce!

Steer your own ship because if you let go of the tiller there’s any number of entities and organisations who are happy to take…[Read more]

ethanw,

Regardless of whether you could see a few doodads to bring in some cash the key to building wealth has always been to be able to live below your means.

You need to have some cash left over from your income to spend on investments.

While it’s possible in today’s world that you can find someone to fund you into a home with little or no…[Read more]