Forum Replies Created
Read Steves 2nd book as it is more up to date and reflects the changes to the market since 0-130 was written.
Rgds.
Lucifer_auPerhaps it’s just a quick typing mistake…
Or perhaps he is a young one!I tend to do make mistakes I’m tired. Of course since alot of my posts occur after 1:00AM that most of them!
Rgds.
Lucifer_auThe short answer is Yes you can.
Also as a side note I would always use a broker.
Rgds.
Lucifer_auIf you have the right coporate structure (i.e. using a trust) you can reduce paying almost all taxes legally (except stamp duties it seems!).
Rgds.
Lucifer_auTry EziDebit (http://www.ezidebit.com.au).
Rgds.
Lucifer_auI was wondering about this too. The RBA controls the economy through interest rates, and a IFL does seems to be affected by one of the main controls the Gov has! In the end though if a Gov. really wants to limit something they can, all they need is enough info. and they can impart legislation.
Also while it seems to be an amazing product I believe property has had it’s run for the while. hence I don’t think property prices will rocket up due to IFLs.
Rgds.
Lucifer_auUse an offset account rather than a LOC.
It usually the same thing, but with lower fees.
Rgds.
Lucifer_auCheck out http://www.jaffasoft.com for a good calculator which works out wether a deal is positive cashflow or not!
Rgds.
Lucifer_auI would do long term buy and hold there too. It might not be pretty at the moment but soon it will be the next Manly (or Bondi). As a mento once said to me “If you think it’s expensive now, just wait another 10yrs – then it will be insane!”.
Rgds.
Lucifer_auIs that P&I or I.O.?
It dosen’t really matter, but if it’s P&I you can switch to I.O. to boost your CF.
Goood deal! Who says the 11sec rule dosen’t work anymore!
Rgds.
Lucifer_auWelcome to the forum!
One of the greatest forumlas for wealth is to build business and buy real estate, and it looks like your doing it well!
Rgds.
Lucifer_auI don’t think property will go through another boom for a while. Mainly because it’s already had high CG. Look at the trends.
As for interest rates, I’ve got a feeling that there won’t be any large interest rates. My only concern is the tight job market at the moment, but with the IRC keeping that in check I don’t see that as a major concern.
Rgds.
Lucifer_auKeep a diary and add to it each time she attacks you in some way. Diarys are seen in a much better light than memory in court. And the fact you have a diary regarding each incident and she dosen’t makes it all the more powerful for your case.
Rgds.
Lucifer_auAs soon as anyone mmentions the wrold ‘down line’ it’s a pyramid scheme of some sort.
>I’m not extolling PIPS … In fact, i’m against it.
Is that why you have “Proven System to double your $$$ in 60~90 days!! If you’re interested, click on my “WWW”” In your tag?? (and of course the WWW directs you to the said web site).
Rgds.
Lucifer_au>When i look at some of the upfront commissions paid to brokers and trailers by some financial institutions its amazing. I could have gone through the front door and got the same deal.
Perhaps, but my broker keeps up to date with a whole range of products, and lets me know if the banks are pumping out more funds or starting to restrict funds (the NAB has been doing the former, thats why it has had such a bad run). Whenever I’ve talked to a bank I’ve never herd them say “where restricting lending”. A good broker can offer a hell of alot more than any bank can (inc. knowing whats going on with your file!).
>I have not at this stage seen that mortgage brokers i have had some communication with can pull anything special that is worth the money being paid to them by the financial institutions and not really getting me anything better.
Well my guess is you haven’t had a good mortgage broker…
Thanks to my mortgage broker I have presented my finaces in the best light without me having to do any work whatsoever. As well as hints and tips on how best to do certain “creative” things (all legal…).In the end a broker does all the work and I get all the result, and I would still use one even if I had to pay. It’s just way easier.
Rgds.
Lucifer_auPropertyQueen due to the current boom it is now a lot harder to find CF+ property (though I’m still buying them). If you read Steve’s second book there is now more emphasis on finding twists to the property which will enable you to create a CF+ situation.
As for being negative, on this case if it is say less than $1 a week, I would say go for it as one day I’m sure you will be able to put it up $2 per week, and hence make a CF+ deal.
To me if a property is netural (or even a tiny bit negative) it isn’t too bad, as long as you know you can support it. Also for many it’s a way of entering the market without waiting for ever.Rgds.
Lucifer_auFor all of Kiyosaki’s books:
http://www.amazon.com/exec/obidos/tg/listmania/list-browse/-/2TDSVIMRH08W3/qid=1104937053/sr=5-1/ref=sr_5_1/103-8371976-9569420For the specific one pelican is talking about:
Rich Dad’s Escape from the Rat Race : How to Become a Rich Kid by Following Rich Dad’s Advice
http://www.amazon.com/exec/obidos/tg/detail/-/0316000477/qid=1104937053/sr=5-1/ref=cm_lm_asin/103-8371976-9569420?v=glanceYou get to see the first two pages – it looks pretty good.
Rgds.
Lucifer_auBased on the wording I’m assuming that if I purchase a property and rent it out say for 6 months and then live in it for 6 months I am still eligible for the FOHG? Is someone able to confirm this.
> From what I’ve read on this forum, this seems to be the case – but I would check with a mortgage broker from here as well.
Also on the same lines if I purchase say a two bedroom unit and live in it and rent one room out, I presume half the interest paid on the loan is tax deductible, and the whole house is CGT exempt on sale?
> No, you might get a partial exemption of the CGT, but not the whole lot (since you are getting a partial deduction with the interest payments – the ATO is pretty good a data matching).
Rgds.
Lucifer_auPerhaps if you bought the property in a trusts (or company’s) name you might avoid having to move out of your place.
The reason is basically a trust/company are completely separate entities and as such might not be seen as connected to you.
You might have to have a trust with a corporate trustee (a company is the trustee)
I would definitely seek legal advice on this though.
Rgds.
Lucifer_auI know a that a piece of land was sold recently, and the photo they had of it was not the photo of the actual land, rather it was the land next door, which basically surrounded this piece of land and there was basically no access (though the next door piece of land, which was the one the photographed, showed a road running next to the property.
Also recently someone here mentioned that they had bought a property and around 6 months latter were checking out the selling RE agents and found their house in their window!
Rgds.
Lucifer_au
