Personally, I deal with the nasty side, where what if’s occur. I dont advocate putting a property in one name.

You can argue in court that it was bought by both and you were married etc…if there was a bust up and there was a mortgage….the bank goes after …..

If someone dies?

Sorry but there are so many personal issues you need to consider, so go seek some advice.

I have seen some very interesting situations in property disputes…

cheers

Elves

For all thanks for the great read.
For Sis, I like what you write
For everyone, someone wrote….I am not in this world to live up to your expectations, and you are not in it…to live up to mine, I am I and you are you….Frits perls I think…

How about everyone agree to disagree? if that be the case..

Sis, I was in busines many years and not once did I ever worry about mentioning my accountant, in fact I have had 4, sometimes they go off the boil, like mine currently. I don’t like being taken for a ride, and the best recomendation is one where you have personal dealings.

Now I might add, you think at times, should I? This may be because you dont want your business being discussed, however inadvertently, with people you don’t entrust in the first place…and you dont want it to come back and bite you on the bum!

Professional people are bound by rules and ethics and any breach in privacy has consequences, so set aside some worries, just tell your accountant you gave the details out and expect to be swamped… Mine way back was extremely appreciative of the added promotion.

I dont need to know people, because if they strike up a relationship, be it with a solicitor or accountant, then that is between them, and I dont enter into the equation.

ON hecs, and free education, I missed the boat and was a mature aged student, and I paid my hecs. I think clear the debt, because it catches up at some time, and I dont like adding extra costs.

On Gifts, I rarely do this, I dont like spending to save a little, it would have to be most beneficial, and I can think of better things than a toy..LMAO

I just want to claim what I am able to claim and get on with it. Thats why I pay an accountant, sometimes you need to move on to new ones that are not stagnant, gungho accountants may not be the type for you.

I need to feel comfy with the person I deal with.

cheers

Elves

“True friends are like diamonds precious and rare, bad friends like autumn leaves, found everywhere…”

and I love walking thru the leaves in autumn…LOL

dont know who wrote it.

or you can put, to be upset over what you don’t have is to lose what you do have….

I posted elsewhere about keeping perspective and all that….we might move on, we might limit the information we have to those we feel either have earnt it, or deserve it in some way, those we feel dont, it might be trust, or simply not their business. I dont consider it half thruths.

Has anyone on here, avoided telling the full story? yep betcha…and not because of lies either.

I have lots of acquaintences, and very few friends, i am selective, nope it has nothing to do with property or money, or status or education…….its about the person.

cheers everyone

Elves

mine is $20m

congrats!

It is good to have an update.
And I am sure there are many out there, who have their own path to follow doing the hard yakka too with families in tow.

For those that feel the pressures of the hunt, be that jobs, new ideas, and family, I can only say this, there will always be new challenges, there will always be new things to learn, and people who knock you. There will be opportunities won and lost, but be warned the price can also be too high.

Keep perspective, be careful you don’t lose your friends or family in the process, because there is simply nothing worth that loss.

I nearly lost my daughter because I was trying to find a way to earn a living and not be on a pension, I was trying to provide for her when I had barely enough to put food in our mouths. My quest to provide even the basics, by going into business and taking the risks, well……..you know, you hear of people that say the hardest thing is waiting for a phone call, but you dread picking up the phone…….was my worst nightmare.

All I am saying is keep perspective, family comes first, there is no job so important…don’t kid yourself.

Hey its not a downer….set your limits and learn to take time out, because, tomorrow NEVER comes.

(it was a saying I learnt many years ago, tomorrow will always be that….tomorrow)

I have used deposit bonds. Saves me using my own money, I use the banks but I pay a price for this.
I dont pay a deposit well only a $50 amount as such and put, if necessary the balance by deposit bond.

The real estate like these, almost like a guarantee of getting the money anyway…

ask a bank the finer details…cheers

Elves

Just my thoughts:

I bought properties just over one year ago, after trying hard to get a home loan. It took the only bank manager who actually listened and gave me credit, to get me on the path. About 10 others couldnt give me any hope. I pay usual rates of standard loans, no sharks here.

My properties now over two year span(includes my home) has equity around 400k. I was “lucky”.

My shares give me my income boost, around 6k a year. I earn slightly under average income, and I hate my job, but I see it as a stepping stone to provide me with income for….well I wont pinch that book title.

I have one child, who gave me grey hairs and cost me a fortune, but I love her dearly. She now has two children, so this nanny has enough to provide for myself and my family down the track. They are independant.

My will is up to date. Is yours? Very important.

I have trauma protection and a good death benefit to clear all debt should anything happen.

I didnt bother with income protection, I have enough leave to carry me and as far as I am concerned, I’d rather leave my job….anyway income protection only covers 75% of income and cost sooo much. Even if it might have some tax benefits.

My super ( I hate being forced into this when I can well manage my own funds BETTER) is worthless as I started in employment late. ( I used to be self employed and never beleived in super, but I did in other things)

My shares are ok, but I am in that for the long haul and I guess I am for the properties too. Maybe my grandkids will love me for it! lol

I dont have a partner, but I reckon if someone shared my beliefs and visions, there would be no end to possibilities (beside the usual…hehmmn!)

With not having a partner I feel a little restrained, because I only have $X disposable income and I am limited to what I can do on my own. Now I love tools (dont give me fashion magazines!) and the idea of renovating, but it is so much more fun when you have someone to share: the work load, the ideas, the fun etc…the goals..

However I have a sense of achievement. I worked hard actually to get where I am and no advice on how to do it. Risk takers are those who will make money. property and shares are a risk.

I believe however shares have a greater return.

I would love to buy and renovate.

I believe in a balanced portfolio and shares and properties are NOT the only means.

I would hold core properties and core shares, trading in others as I saw fit to make a quick quid.

Financial advisers….they arent all bad. But I decided to study it just so I would be more aware adn I am half way through the course for Dip in financial planning services…if I finish!

Cheers

Elves

Howdy

The area I bought in has skyrocketed. Suffice to say I can’t afford to buy any in the same locality.

My bank manager here in NSW, asked me what the hell was going on and had I heard of a place, a little south west of Brisbane, Yes I had. What gives he asked. Dunno, must be all the NSwelchers! Apparently he has completed a number of loan applications for the area, and he had seen a dramatic increased in values.

Goodie I thought, then he knows that my own places have also risen dramatically….!!!!!! Time for another loan!

I have no answers for you, just do some research. I never had the whatever rules when I bought, I bought by my own rules and I let my own head do the thinking, at the end of the day what I am saying is, each to their own, your money,you make the choice….

But yeah do some research, consider the area, consider yield verses growth and anything else you might want to add in there.

cheers

Elves

“the difference between a weed and a flower is a judgement” – dont ask me who coined the phrase but it wasn’t mine…

Hey I am cynical by nature (must be the scorpion in me) but I love people to do well, more than happy to share my perspectives and to give out tips, but so many …..er dont listen….lol

And not that they should, to me that is. I’m a novice but for me I have been to where- who was it? AD? said, 3 steps and on the third with two business dealings?

Well I have come from a family background in business. I started at the ripe age of 8. Went to work from High, then down the raod, opened my own business, then another and another, sold and moved on. Went to study and went back to business for 6 years, bought a second block of land, and started in shares (so I did it the reverse way around) then moved to properties. I couldnt get there until I went and worked for someone else…they didnt have lo doc loans then, and self employed people were considered unemployed!

So I went to work for someone! Bingo got the loans. SO I have done the steps, just waiting for the next ferry….to take me on yet more unchartered waters…looking forward to it.

but shall I pay the ferryman?

Elves