Originally posted by PurpleKiss:
No, you have the insurance for 12 months to make sure you are paying your way, otherwise you join, have the baby and leave and the rest of us who stay in it have paid for your treatment.

Ok, looking at it a different way, do you insure your houses, your contents, your cars? Yes, and do you use the policy every…[Read more]

1. There’s no such thing as cannot.

2. There is such a thing as should not.

3. Don’t expect others to make you rich.

4. Creativity comes from within.

5. So does confidence.

6. Everyone starts with the same skills – which you choose to learn through life depends on your self image.

7. Doing is the only way to get to done.

8. Is too many…[Read more]

I started a lawn mowing biz, ran a uni club & through it attended/ran to a lot of seminars & events which provided me with practical experience.

Cheers.

Aceyducey

Evans,

they’re all BIG questions – and discussed regularly across various forums.

Do some research and you’ll be able to answer all of them yourself.

Cheers,

Aceyducey

pp,

Properties sell themselves in a boom market.

We’re not any more.

According to some figures I saw last year on where REAs source buyers:

Signs are still the number one source of leads for REAs – so a big sign is a MUST.

A well-worded ad in the appropriate publications is number 2.

Online is number 3 but gaining on 2.

The REA’s database…[Read more]

We renoed a property last year with a similar issue.

We looked at the cost of replacing the driveway, but frankly it wasn’t worth it…it’s a frill not a necessity on an IP – doesn’t change the valuation a single dollar.

Cheers,

Aceyducey

Delyse,

It is largely a buyers’ market in Sydney atm – how you deal with it is your choice, but I’d advise that you don’t panic – that’s an emotional response & doesn’t really add any value.

Any property can be sold quickly IF THE PRICE IS RIGHT. Clearly your price is higher than anyone in the market is prepared to pay right now.

You have two…[Read more]

The ATO doesn’t recognise valuations done by REAs.

You need to use a registered valuer.

Cheers,

Aceyducey

Lucifer,

There is no ideal level. It all depends on your situation, strategy & what you’re buying.

The less you pay the further your money goes…but the more highly leveraqed you are & at greater risk of external factors such as interest rate changes & changes in government legislation.

Cheers,

Aceyducey

Jaffasoft,

Think about it in a different way.

You are paying a charge to use the bank’s money.

At the end of the loan you still own the original amount of money, which you can continue to pay a charge on, or pay out (somehow).

If you pay it out you end up with your cash being tied up in the property – to get it out you need to either sell the…[Read more]

Derek is spot on.

Frankly you can rent out virtually any property, so if they have to offer a rental guarantee – what’s wrong with it

Cheers,

Aceyducey

Originally posted by Pursefattener:
I hope it is worth it at $99 jeez…

Pursefattener,

Sometimes fattening other peoples’ purses aids you in fattening your own

It’s well worth the money….if you need the information contained in the book.

Cheers,

Aceyducey

Originally posted by Rachel77:
I used to work for Medibank Private and there is a 12 month waiting period with them on maternity.

Hang on a minute…12 month wait for maternity – 8 1/2 – 9 months to have a baby….

There’s something a bit screwy with these figures.

Does it mean that on private health cover mums have to carry the baby for 3…[Read more]

Originally posted by Michelle_G:
What sort of professional would I see about setting up a Unit Trust? Would that be some sort of legal person?

See a good accountant. Preferably one with property investing experience.

Nick Moustacious of Strategic Wealth Management is a VERY good property & trust accountant…[Read more]

Originally posted by SPT:

Unfortunately we are now stuck with this commercial loan which will cost about $3000 extra in interest over three years.

Why are you stuck?

Revalue and get a new loan….

See if you can get the valuer to pay all the exit & transfer costs – cause they made a MAJOR stuff up!

Cheers,

Aceyducey

Originally posted by Samwise:
I agree that any amount for deposit is ok if seller agrees. The purchaser is still liable for the full 10% if he reneges on contract. – Usually states this in the contract.

Change the contract!

Think outside the square.

We NEVER pay 10% deposit.

Cheers,

Aceyducey

Good luck sorting it out lifexperience!

Cheers,

Aceyducey

Brettso,

My comment was around how long you are spending thinking about the deal. If it’s a good deal put in an offer fast, worry about the amount of cash you’re putting in while you’re going through the price negotiations.

As you’re in this for the long haul it’s generally better to buy as many properties as possible when starting out…the…[Read more]

We have two kids on public – at the birth centre in the really big tub.

Private rooms & no obnoxious doctors, just experienced midwifes & nurses.

The only thing they didn’t provide was the baby.

Cost us nothing (and has been amply covered by the amount we pay to medicare)

Private health care is about profit, not necessarily a better…[Read more]

Monopoly,

ditto Derek.

Nowhere in Australia is there a legally mandated level of deposit that must be paid.

We never offer 10% as a deposit.

Cheers,

Aceyducey