Forum Replies Created
I live in Pyrmont…….
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]Hi Mini,
Wow, What a post!!!!! Can you add me to that list please Mini. I’d really appreciate it. My email is o_geekee at hotmail.com.
Cheers
PS. You must be first in line for a visit from the Karma Fairy.[
][][][]Hi Guys,
Good to see that so many of you guys are doing nicely or setting up your plan to get your portfolio moving. Myself, I have not yet started but I have the capital that I need to get started with my first and maybe second +ve CF property. However I am still undecided on whether to try and wrap or buy and hold. Hopefully I’ll get this sorted and be on my way buy the end of the year.
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][8D][8D]1) What was the prime motivating event in your life that created a focus on the need to invest?
I have always wanted financial freedom but more specifically after reading Steve’s book. I was more excited about it than anything since being a child. I knew where I wanted to be but never knew how to get there. It gave me motivation to explore the options presented
2) What have you in fact done about it since then, and rate your achievment.
Save, Save, Save & research. Acheivement 2 out of 10 but I will make a dent on that soon enough.
3) Based on your current performance, how long will it take to reach financial independence? (Whatever this might mean to you)
At least 10 yrs, but sooner hopefully if I remained focused[
]4) What are you currently doing to improve your plans?
See #2
5) What is your ultimate goal; and will it make you happy?
More free time to do things I want to do
6) Which is more important: The goal or the journey?
Both
excellent post guys!!!! I really enjoyed reading how everyone else is travelling. Keep up the good work[
][][]Thanks for that Bill, I’ll do that.
[
]Hi there mate,
I’m just a newbie myself but what I can gather is that cross collateralisation is bad because the you are tying up the equity for all or a few of your properties to fund getting an IP. If something goes wrong with this IP and the bank forecloses then you stand to lose the whole lot.
O[
][]Hi Guys,
I agree, I don’t see the problem. If you make the money, pay the tax. I’d rather have pay some to the Govt than not have any extra at all. I wonder what makes people so Tax adverse….[
][][8D]I live in Sydney, and have asked a few mortgage brokers but most seem totally uninterested and have told me point blank that there is no way it would happen.
O[
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Welcome to the forum []I may be able to help you out – where do you live? Commercial is a bit specialised and outside my area but I know some very good brokers who specialise in this type of lend.
I think if your property is metro-based and as you say the new lease is in place, an 80% lend isn’t out of the question as most commercial lending is revenue not resale value based.
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Mel
[email protected]
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