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  • Profile photo of Amy70Amy70
    Participant
    @amy70
    Join Date: 2005
    Post Count: 5
    November 12, 2007 - 1:35 pm

    Thank you Linda and Attrill.

    Indeed, I don't want to sell it. It's just that I have a non-property debt now totaling $90K which I need to reduce & eventually eliminate.

    One option is to take a second job and work like a dog. Not a good prescription for my health and wellbeing, but probably the route I will choose.

    The other option was to sell VicPark. The least favourable option, but after reading Steve's last newsletter it made me think twice that maybe it wasn't such a bad option after all?

    But the questions I had to ask myself were "What is a marginal deal"?? (as it is still negatively geared) and "What is the likelihood of my property value flattening for the next 3yrs, or even falling a little", because if I had a crystal ball and knew for sure that it would flatline or even drop, then yes, I would sell it, spare my health, and re-enter the market in a couple of years.

    But of course… we don't have crystal balls. My next best option was to ask the experts here, and it seems both of you hold the same outlook as I have held. I still think VicPark will grow in the next 12 to 18mths. Watch this space for an update in 12mths time to see whether it does or not.

    Yes I can handle a further 2% rate hike on that mortgage. That's only an extra $3K pa. The bigger challenge is working my butt off for God knows how long and maybe compromising my health to clear the unrelated $90K debt.

    Well… as someone once said… life wasn't meant to be easy.

    Thank you again for your inputs.

    Amy

    Profile photo of Amy70Amy70
    Participant
    @amy70
    Join Date: 2005
    Post Count: 5
    May 2, 2005 - 10:55 am

    Thanks for all your feedback guys.

    It appears to be much more than just “a book” and yes, it includes a contract to lease-buy as well as one to lease-sell.

    I agree that I think a lot of people buy courses and do nothing with them (one of my friends is a case in point with a whole bookshelf of stuff which would take him a lifetime to study and apply it all). But if it’s a good course and people make use of them, they can be worthwhile and I certainly plan to.

    It seems nobody who answered has it, but some have rick’s wrap pack and the feedback is fairly positive so I think I’ll bite the bullet.

    $1897 is a lot, but better than $2897 after this week, and if it saves me from making some bad pitfalls and also saves me the time of trying to “dig out” all the required information from other sources, then I think it’s worthwhile (and tax deductible!). Plus it’ll be cheaper for me to get my solicitor to madify the contracts in there compared with drawing up new ones.

    Once again, thanks for all your feedback. I’ll have to pop back here more often :-)

    Keep smiling :-)
    Amy

    Profile photo of Amy70Amy70
    Participant
    @amy70
    Join Date: 2005
    Post Count: 5
    April 29, 2005 - 5:50 am

    Whoops. My mistake. I can find it (on somersoft.com.au that is). I was looking in the wrong section.

    Nobody has answered me there though so hope to get some feedback here.

    Thanks.

    Amy

Viewing 3 posts - 1 through 3 (of 3 total)