Thanks Terry, that makes a whole lot of sense now. That kinda only leaves the slow option of buying one IP, increasing equity and rent, than down the track buying another one.Time to read more and get my head around it, work out where to from here.Thanks for your help.

Thank you both for your information, it seems it is back to the drawing board for me.So what are some of the better strategies out there?I can't physically work at the moment, my partner does but has low income. We have great equity in our home.

Thank you for your reply QLD007 & Terryw. You have given me good information, which I am still getting my head around.I am frustrated though as I was talking to an investor about a year ago who did the following for his retired mother who had little income;Took out a loan against the equity in the house. I can't remember the amount but for this…[Read more]

You are welcome.

Hi karlm63

have you checked this site at the top there is the Online Shop tab, than view all products. I think they are in order. He also has a new book just released, “0-260+ Properties in 7 years”.

So order is:
From 0 to 130 Properties in 3.5 Years
$1,000,000 in Property in One Year
0-260+ Properties in 7 years

That will keep you going for a…[Read more]

Thanks QLD007. Just on the matter of transfering to my partner, if we were married (instead of De facto) could we then transfer the home to his name only (currently in both) without getting slogged tax?

Terryw, that’s a good point, that extra paperwork will cost me.

Thanks guys! [thumbsupanim]

Thanks for the heads up Richard. [biggrin]

Any other stories out there??

I am hoping this thread will help more of us find great accountants and solicitors, and save members the time and effort of running around. So if you have a goodie, let us all know. [blush2]

Thanks John, that has put some interesting perspective on it for me. Like Celeste I thought the same.[hmm]

I went through the 15% rates back then, and I sure did hurt. Can’t stand boiled rice or 3 minutes noodles today. I remember when I got down to my last two bucks for the month. Always made repayments on the loan, although I got a whole lot…[Read more]

Foundation, I agree.

Been through that “recession we had to have”, survived the 18% interest rates (never want to eat 3 minute noodles ever again).

Never cease to be surprised when I hear someone (with a very average house and wage) say they have just spent $20k on a new whiz bang TV. Wow… that’s a deposit on an investment property they just…[Read more]

I had to go into the Council office and pay around $6 for it. I don’t think they do it online. Why not call them and ask?

I speak to Council and do thier searches for a small fee. Mind u, last one I did I only got the name and the address of the property I was checking. My partner suggested I write a letter and post it as they probably had a redirection service.

Turns out they did and they got my letter and they called me.

Unfortunately all down hill from there,…[Read more]

Hi Dare to Dream

I have found the library to be a useful source of information. Most often they have a website where you can search not only your local library but all in your local district. As a member you can do most of your looking from home and even reserve books and audio online.

I have been to a workshop called, “Breakthrough to Success”,…[Read more]

I have been to a few meetings with investors clubs and have chosen NOT to persue this option.

Some questions I would ask before forking out your dough are:

Who is making a commission from my purchase?

Why do they always suggest buying in developments such as units?

Are they receiving kickbacks from the developer for selling you into thier…[Read more]

Thanks for your advice Steve,

Jeff, DLPP and Kp thanks too.

My education is all the better from reading forums where such valuable information is shared freely.

From an observation point, I have noticed that the retailers “Sales” seem to be a continual thing now. Moving from one excuse to the other to have a sale and maybe snag a buyer. They…[Read more]

Thanks Terry and Catta

I’m just in the process of working out what my property focus is going to be and what I want to achieve. Once I decide whether I am going to focus on property as a business or hobby, I will look into discretionary trusts and company structures more.

Thanks for your comments, I’ll take them on board.

Housemender,

It is sad, I agree, but if you don’t steer clear of the investing subject with negative people, than you will steer of course. Then in years to come you may become negative and resentful of them.

You go girl!!! Think things through, do the research, then trust yourself. Have you heard the song that goes something like….”I get…[Read more]

Hi HouseMender

I can totally relate to what you are saying.
My inlaws belive in getting a good secure job and wasting the next 20 years working for a boss who doesnt appreciate you. My father-in-law got a gold watch on retirement and a lifetime of regret.

That is how they lived thier life and they don’t understand anyone living thier life…[Read more]

Hi MikeBlue,

My old solicitor in Hornsby is honest and a great guy. Have recomended him to family as well, all of whoom have found him to be good. Family and myself included have done about 4 properties through him. We are all happy.

Let me know how you go.

Sal Sapuppo
02 9482 1288
Hornsby

Only wish I could find one like him in QLD.

[jerry]