Good for you HousesOnly!

I think you’re totally wrong & have a very limited understanding of economics, but time will tell

BTW: Lots of new jobs being created in QLD right now, the idea that uni grads all move to Sydney & Melbourne is factually wrong.

Look at the figures – SE QLD corridor to overtake Melbourne as the second largest population…[Read more]

Who cares about the tax – you earn more, you pay more tax.

The idea is to build wealth, not create tax deductions!

Cheers,

Aceyducey

I don’t consider that the banks are guilty of unethical conduct….individuals may be, but I don’t think you can apply ethical standards to a corporation.

HOWEVER I do believe that if banks engaged in inflationary valuation practices then there is a risk management issue.

How can the bank ensure it’s risk is at the appropriate level if the…[Read more]

Keep in mind from Tinkerbell’s post that she bought at the right time – during a boom!

The buying conditions have changed.

Cheers,

Aceyducey

Unreal_Jo,

Bear in mind that it’s illegal to act as a property finder if you are not a qualified REA…so check their credentials!

Cheers,

Aceyducey

Michaelle,

Yes you do still accumulate equity and can borrow against the additional equity in the property even if paying an IO (Interest Only) loan.

The type of loan (IO or P&I) doesn’t affect your ownership of the property. If the property increases in value that CG is yours free & clear!

P&I loans cost more than IO…remember that a dollar…[Read more]

Originally posted by Rugbyfan:

Umm…Well Acey, below is what you wrote in the opening post word for word. Exactly what part of it is constructive suggestion?

All of it Rugbyfan

It could be my own biases, but ‘Top # Poster’ is merely a comment about posting level…not skill level – and it was the discussion of much debate by the community…[Read more]

Hey Lifexperience,

I never take offense (well rarely ever)

That’s one way to look at it – I know a number of people who do REA courses just to learn the ins & outs when dealing with REAs

However after spending years working WITH our PMs, we’ve found that you get many of the skills without having to go work for someone to get it. And you can…[Read more]

Thanks Celivia for the offer of the stars – but frankly I have no idea what they are for either

Rugbyfan – think about your own response – did you over-reactive to what is a constructive suggestion

Kay – I don’t care about my own ‘status’. I write what I think & people read into it what they want HOWEVER I do care very much about ensuring…[Read more]

This is a tough discussion to have on a forum controlled by the individual at the centre of the discussion.

Just as I wouldn’t consider it appropriate to hold a discussion about the Somers at the Somersoft forum.

IMHO, it should be investigated by ASIC. Only by holding such an investigation can the matter be cleared up.

Sometimes courts are…[Read more]

Gramyre,

You should also take a gander at ‘Story by story’ by Jan Somers & ‘Ordinary Millionaires’ by Jim McKnight.

They both provide Australian success stories…somewhat more useful than ones from the US

All these books are available at public libraries.

Good luck on your journey!

(BTW: I write the odd game guide myself)

Cheers,

Aceyducey

I thought the idea was to lose the career path

Cheers,

Aceyducey

Originally posted by milkmanjr:
The only thing that the number of posts made indicates, is the number of post made.

I’m quite aware of this, being a long-term forum user (not of this forum yet)…but are new people?

And PI seems to attract a lot of new people, vis Steve’s book & TV appearances.

New people may see ‘Junior Member’ and read ‘No…[Read more]

We rent a property from our own Trust.

Our landlord is fantastic! He furnishes the place & emsures repairs are kept up.

Cheers,

Aceyducey

Low auction clearance rates are great news!

Anyone who bought in the last 12 months shouldn’t be looking to exit anyway. Property is a longer-term asset not a short-term one.

New agents take their chances. They had the same information as everyone else six months ago.

Cheers,

Aceyducey

MonkeyMagic,

Stop trying to compare apples with pears.

Different demographics buy different properties & they go through different market cycles.

If you buy top-end luxury property you’ll find that it’s an extremely volatile market – you can make a lot or lose a lot.

Buying solid established around-median dwellings you’ll find less…[Read more]

kathryn,

I can see the REA’s point that they want the place to be ready for someone to move in tomorrow….but they have to acknowledge that it is costing YOU money.

What would your agent say if you said to them – OK I can leave it untenanted…but I’ll take the market rental out of your fee for every week after the second that you don’t have a…[Read more]

Noam,

I suggest you wait for more comments than simply mine – other people have have differing views of the situation.

I don’t have the expertise to help you with selling the property. Speak to some excellent agents & get their views.

You do need to check your contract, it may be such that if you sell & the person you sell to reneges, it…[Read more]

Originally posted by Sibo:
As long as prices dont recede it’ll be valuable choice, and it renovations make it +CF when we leave, all the better!

Sibo,

Check the history of Queanbeyan – retraces are quite common.

Cheers,

Aceyducey

Originally posted by chrism9645:
Ok, we’ve read the book, we had two IPs before reading it and have subsequently purchased two more…but $1M in a year?

Jo,

It’s not a race.

Your strategy sounds fine.

It fits your risk profile & timetable.

Don’t get distracted from your goals.

Cheers,

Aceyducey