I still like variable, though I appreciate that many people have fixed for good reason.

Personally having done the calcs on the difference in payment levels over 20 year terms based on real past interest rate levels, it’s cheaper to leave them variable.

Your mileage may vary.

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

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

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): http://www.somersoft.com/forums/showthread.php?t=11690&highlight=Hybrid+Real

Cheers,

Aceyducey

Baloo,

As an example if you look at about page 102 in Steve McK’s book you’ll see that over the last twenty or so years 7% average property growth or higher is perfectly feasible.

Now naturally that IS the past and things may change…however in the period considered in the book there have been years where prices have stagnated – and even gone backwards.

Generally assuming a growing population, economic stability (within the normal boom/bust cycle) and no major shifts in culture, populations or housing technology, I believe you can take these figures as a useful indication of what is reasonable to expect in the future.

There are claims that 7% average growth has been recorded since 1066 (referring to the Domesday Book in the UK as the first comnprehensive audit of British wealth) – however I’ve never been able to find source docs to verify this

A few authors put the figure (but not the backing evidence) in their books however.

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

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 business from that valuer

Cheers,

Aceyducey

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 believe they would be looked after…..the belief still exists in this day & age.

And I reckon that many people on the forum could testify that some girlfriends do expect to have their way paid – which is not to say whether this is right or wrong

Cheers,

Aceyducey

Mick,

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

Cheers,

Aceyducey

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 press over the last month.

Cheers,

Aceyducey