Another “GREAT” who says you should live off your equity is
Ed Chan of Chan & Naylor P/Ltd.
You just keep on having your properties revalued and living off the new equity.
The properties are suppose to double in value every ten years (At 7% a year).
So you owe more, but the new equity covers you.
So the ROLLACOASTER ride goes on for ever.
Not…[Read more]

Steve,
Your insights- no. 4, Is a great reminder that one can not live on debt for ever.

The Investors Club uses this system. Hold ten properties, refinancing one property each year. Using your equity to live in your required life style . By the time you have reached no. 10, you just do it all over again.
Michael Yardney of Metropole does the…[Read more]

G’day all,

I’m history, I live on the coast.
You hear things and read some stupid articals and you start believing them.
I have a problem with medical deseases. If I don’t know a name of a desease, them I’m safe and can’t catch it.

As for that superman movie, it was on foxtel last night.

bruham.

Property WA,

I’m involved in two of B&B listings.
They sent me the paperwork the other day. No brokerage costs involved with my offer.
B&B believe that it will be fully subscribed through current share holders.
Minimum of five thousand shares at one dollar a share.
B&B must think that residential property is going the way of New York property,…[Read more]

foundation,

I believe every word of your post. People are telling me stories of near forced sales due to no growth in the market. negative gearing
sucks if you have your hand continuously in your own pocket covering negative gearing costs. No capital growth. Just capital loss.
One fellow sold at a loss of eighty thousand dollars just so he…[Read more]

Wealth4life,

In 1999, I did as you suggested, bought one bedroom units. BLOODY DISASTER!!! There are so many one bedders around that they’ll never grow in valuation. Pyrmont is chocked with one bedders and studio apts.

You said close to the city. I hate your description of “close” Paramatta is over an hours drive a light traffic.
Balmain and…[Read more]

G’day all’

I must be doing some thing right! Going against the “herd”.
I ‘m in search of two dual – occ sites. Must be exactly to my requirements.
As more people abandon property for shares, I must be doing “good”!!
When I charged around the property scene in 1999, I bought anything I could lay my hands on. A BLOODY DISASTER!!!
A FOOL AND HIS…[Read more]

jkrejci,

I used the software once It’s that complicated, that I’ve only used it one time.
The bastard must have deliberatey done this to show how cleaver he thinks he is.

One time was enough. Never again. I threw it in my junk draw.

NEVER WOULD I RECOMMEND THIS SOFTWARE TO ANYONE.

There are easier,quicker programmes out there.And cheaper.

bruham.

G’day all’

affordability is the name of the game.

Having read a recent post from “wealth4life” my beliefs are simular.
I own one dual occ. I believe it’s in a top location.

When I first started out investing, I bought one bedroom units. Plus a serviced apartment. All of them were a complete waste of time.
Houses in top locations only…[Read more]

G’day reelygood1,

Just read my share news about Australian Gas Light Co. ( I hold AGL shares).
They joined forces with CS Energy of Qld.
Together they’ll up grade the Mica power station in the Mount Isa area. The cost is between $150 – $200 million dollars.
Due for completion in 2010.

Might have to have a look at Townsville and surrounding…[Read more]

G’day Kay Henry,

You say, being a snob about where to buy property, while missing other opportunities. I would rather buy one property in Manly on the beach than one hundred properties else where.
Quality before quanity every time.

Worst mistate. Buying a serviced hotel apt when first starting out.
6.5% net return for two years, then down to…[Read more]

g’day moosehead,

It’s good to have lots of passion.
You’ll need every bit of as you get older.
Keep it going.

Yes I have “good” debts (lots) and one “bad” debt.
The bad debt is a continuing debt. As soon as I pay it off ,I borrow it again. It’s limit is fifteen thousand dollars. It’s used for my home renovations.
This way my house is always…[Read more]

G’day all,

Wow, Moosehead. Talk about a young bull in a china shop.
Slow down. Take off the boxing gloves.
Mate, you come on strong.
Now, first to the banks. The mortgage is owned by the bank until the last dollar and cent have been paid.

The banks name appears on the first page of your mortgage. In my case my name (trust) does not. So they’re…[Read more]

G’day all,

What you said Foundation, is spot on.
I have always believed that there is no such thing as GOOD DEBT.
All debt is bad. Yes you can work a rort on your tax return.

But over all, you would be better off collecting full rent from your rentals,paying no bank interest (Oh GOD! how wonderful). Then paying some taxation.

At least with our…[Read more]

tajee,

You can claim depreciation (not 4%) on any property investment.
That’s no big deal.
Four percent when you’re down the toilet for thousands of dollars, doesn’t make sense to me !!!

If you notice that most of these hotel rooms are run by the big business end of town.
(Proberly not in your back water of a country town. Which means even more…[Read more]

Hi all,

Thank you for all your replys. I’ve just down- loaded your replys and will give it to him on my next sighting.

You made more sense than me showing him how my structure worked.

Having professionals explain it and seeking their advise is always the best option.

Again many thanks.
bruham.

tajee,

The last thing on earth to invest in are “serviced apts”.
They (management) increase the unit’s price to cover the rent.
So YOU are actually paying your own rent !!!
It takes years for the equity to grow to the purchase price.
Very hard to sell as only investors seeking a decent return are interested in buying.
Banks treat them as a…[Read more]

MY TURN!!!!
Talk about length of this posting.

It’s like waiting on the phone for you to have your say on talk-back radio, only to be cut off after you’ve had a five second conversation.

Two cars, one Ford laser year 1995.
Second car Ford falcon year 2000, ex. police car and ex. taxi.
Love that LPG.
Half the cost of petrol.

bruham.

Dazzling – mate,
just read this post. Must be a near record for one topic.
My wife is a carbon copy of yours.But worse. When I read out some of the member’s achievements, how many investment properties they have, my wife tells me that they are all lairs.
How do you know that they are telling the truth?
You prove to me that they’re not telling lies…[Read more]

Almost nothing!!!
In December paid a deposit on a full duplex, Quakers Hill(Sydney suburb).
I take control in Jan. 06.
Bought another taxi plate. Take control in Jan. 06.
Gave notice on my job. Walk out the door for good end of Jan. 06.
So 2006 is going to be my year.

bruham.