Forum Replies Created
Mark,
Strange as it may sound – the truth is NOT a defence for defamation in Australia.
Yes that means you can tell the truth and still defame someone.
Defamation is all about reputation.
Cheers
GiddoGiddo
http://www.standrewsplace.com.auKNOWLEDGE IS POWER
Great story John,
Makes one want to look upwards involuntarily….
I am glad I have no hot water systems in the ceiling at my house.At least I don’t think there are. I had better check I suppose.
I am not so sure about this stuff about it being pretty common in qld to have HW systems overhead.
I hadn’t heard that one before and I live in sunny Queensland.
I will check my Insuarance Policy for a clause covering hot water coming down[blink]Giddo
http://www.standrewsplace.com.auKNOWLEDGE IS POWER
Agreed folks agreed
I am sure some of you suffer a similar affliction to myself.
It is not Analysis Paralysis, but indeed the opposite – a burning desire to get going combined with the knowledge that I need to do the DD first.
I cannot really identify with people who suffer with AN Paralysis.
I reckon we don’t get a second chance with our lives so we better make it count.Giddo
http://www.standrewsplace.com.auKNOWLEDGE IS POWER
Hi Insert,
Your willingness to suffer a little sacrifice in order to invest is a good first step I think.
Another way to free up money may be to borrow against the equity and stay where you are.
You would have thought of this though, and it seems you are keen to start anew and go hard.
I would take care, depending on where you intend to invest.
Many parts of Oz have only declined a little from their heady peaks.It may be better to wait a little while till prices prove stable or plateaued. Unless you can pickup a bargain of course.
It would only be a bargain of course if it offers a good return, or has good cap gains potential or both.Places with good cap gains potential are not thick on the ground right now.Many props will likely decline in value in the short term IMHO.
However you would have a much better knowledge of your area than I do.
Research, learn and persevere and you will succeed.Giddo
http://www.standrewsplace.com.auKNOWLEDGE IS POWER
Hello MYBAZAAR,
Welcome to the forum and to Australia.
I have no doubt you will do very well for yourself and your family as you seem to have the correct mindset.
I suggest the market is probably going to be fairly static in general for a few years so you can take your time.
Perhaps more savings would assist with getting your loan.
maybe one of the good mortgage brokers who are on this forum could reply with ideas regarding obtaining finance.
I would guess that a history of savings would go a long way towards a favourable application with a bank.
Good LuckGiddo
http://www.standrewsplace.com.auKNOWLEDGE IS POWER
Congrats RICK,
I would love to know if you end up finding another gem like this.
Looks like you have been acheiving 137% interst on your $29k investment before tax and costs.
Hard to beat!
This is better than anything I have got.
A quick calculation shows the best positive gearing prop I have got is returning about 34% on my original investment.
Well done and good luck!Giddo
http://www.standrewsplace.com.auKNOWLEDGE IS POWER
Hey BLOGS I agree with you.
I would add however that Wild one should still invest in RE in this climate IF- IF he has done his DD and also IF -IF it is a special property.
I reckon there are special properties out there in this climate.
All you need is the knowledge. I am looking for niche opportunities. Off the shelf investments do not interest me at all.
We then come back to the point about “JUST DOING IT”.
This is NOT the time to be JUST DOING IT. That was 2003-4. Anyone could make $$ then.
Now the real investors take charge.Giddo
http://www.standrewsplace.com.auKNOWLEDGE IS POWER
Ouch WASP – that stings a bit…..
I have just gotta bite!
I don’t know what your experience of holidays is but it sounds like you don’t get to have many hols.
I am now at a place where I am starting to ease up a little on myself, and even better, can afford to, after 34 years of work and saving etc since leaving school at 15 years old.
I could go into details of my sad struggle but will spare you!
This will be our first hol since 1994, and I hope to enjoy it without my usual glance backwards at the budget.
I am quite happy to have my holiday and not get anything back from ATO.
Regarding the feeling of deprivation many suffer while watching their workmates and acquaintances spend money on holidays, cars, consumer crap etc, I know that feeling well.
My advice (not solicited but freely given anyway) is to start your journey early go hard – and enjoy the benefits as soon as you reasonably can.
Don’t keep going until you get wheeled into the nursing home, cos the $$$ are of no benefit to you then.
WASP I hope you acheive your goals sooner than am doing, and get a bit of a holiday before you are too ancient.Giddo
http://www.standrewsplace.com.auKNOWLEDGE IS POWER
Hello Newb,
I am no accountant either and no financial advisor.
I think you will be able to show your contribution as a loan to the trust. This will then be offset against any capital gains when you eventually sell.
Or am I thinking about a company structure???
HELP – somebody!Giddo
http://www.standrewsplace.com.auKNOWLEDGE IS POWER
Thank you Mikala and Redwing. Appreciate your info.
I will see my accountant and I am sure he will tell me tha same thing..Giddo
http://www.standrewsplace.com.auKNOWLEDGE IS POWER
Sounds reasonable to me Celivia.
As long as it only applies to half of any EXTRA
contributions.
After all, peoples circumstances can change a lot over the course of their first 50 years or so.
We are talking about peoples own money.
You cheated a bit Celivia, you did not say what YOU thought.
I cannot let you get away with that.
What do YOU think?Giddo
http://www.standrewsplace.com.auKNOWLEDGE IS POWER
I reckon Misty1 that the money we all make is NOT relative to what we started out with (nothing)
It is relative the our standard of living/net worth of the period immediately prior to making the extra $$$.
Our goals, needs, wishes, wants always seem to change as we get better off. This is a tendency that I am actively trying to resist.
My questionWhen painting with a roller, is it better to buy good roller covers and wash them or simply just buy a six pack of cheaper ones and throwaway as they are used.
Giddo
http://www.standrewsplace.com.auKNOWLEDGE IS POWER
Hello MRK25T,
Phew, what a moniker you have got!?!
I think you are on the right track, and just need to sit tight and hang on for the ride.A lot of sentiment will be attached to that old home. they will want to sell to a struggling young couple who will love the house as they did.
Perhaps you could arrange for your wife and yourself to pop around and scout out the vegie patch location etc. Make it at about afternoon tea time.
You may become friends and get a further inkling on how you could make a satisfactory offer.
I doubt that a heap of eurofest people will line up at the gate in October.Giddo
http://www.standrewsplace.com.auKNOWLEDGE IS POWER
Hi Voightster,
So you are a Hobartian are you.
I am not. I live all the way up in Qld.
However I am planning a trip to Tas in early january and wish to meet fellow investors while I am there.
I would love to meet you over a shrimp or two.
PM me if you want to see about a meeting.Giddo
http://www.standrewsplace.com.auKNOWLEDGE IS POWER
Thank you so much Scott – that was pretty much just what I was hoping someone would come up with.
I will now do the necessary research and go from there!
Thanks again.Giddo
http://www.standrewsplace.com.auKNOWLEDGE IS POWER
I agree with you Foundation.
The best way to protect yourself against a doomsday scenario like this is to owna little bit of land somewhere and some agricultural implements etc.
You may also need a big shotgun to fend off other hungry citizens.
Now I have depressed myself, I am skipping off to another forum where there is less angst and more optimism. Lets all hope that the optimism is not without “foundation” (PUN INTENDED)Giddo
http://www.standrewsplace.com.auKNOWLEDGE IS POWER
ThanksScott,
I am in Toowoomba Qld.
I was thinking that there may a register or list of property focussed accountants somewhere.
Maybe not.Giddo
http://www.standrewsplace.com.auKNOWLEDGE IS POWER
Hi Jimoan,
It was a book I was reading which was published in Dec 2001 – that is why I was a bit concerned about the currency of the info.
Book is called Wake Up To Wealth By Paying Yourself First – by Harold Bodinnar . Looks like it was self Published – there is a website to get updates thru http://www.webwidepress.com.au
Harold advocates investing in a capital Guaranteed Insurance Bond and then getting a bank loan against it.
he says the insurance bond will be tax free after 10 years and you may borrow 90% against it in the meantime.
CheersGiddo
http://www.standrewsplace.com.auKNOWLEDGE IS POWER
Hello nat R and all[suave3]
You are right of course, if you can service the loan all else is incidental.
I thought was relevant only IF – IF a serious scenario hit us as discussed in thread CRASHH!!!!
e.g. I would feel more comfortable sitting on 70% LVR than on 100 % if a world wide collapse occurred as discussed in CRASH!!On 70% LVR one could still retain some equity in the investment after a collapse of say 20%.
I guess it is the quality of sleep I am thinking of.[happy3]Giddo
http://www.standrewsplace.com.auKNOWLEDGE IS POWER
Thanks FLASH – anyone else??????
I wanna hear from someone is 95% and v comfy with it and will tell me why??
I am here to learn.
Anybody??Giddo
http://www.standrewsplace.com.auKNOWLEDGE IS POWER
