Forum Replies Created
Kick start – So far so good. Good on you Steve for actually giving out free tips that are actually valuable. I’m trying to keep up!
Download – I have dialup. I hit the download and then went and watched ‘Lost’ (sad I know) and then watched the video. No Problem.
Debt Reduction – There is a fantastic book which for the life of me I can’t recall it’s title but, it said pay off the lowest debt first. then take that amount of payment and add it to the payment of the next lowest, and so on. Excellent. Anyone know it?
We are all at different stages but we all have to start somewhere. At least we are trying to move in the right direction.I’d be interested as well. I guess I’m one of the herd who’s been searching for the elusive CF+ property and well if someone can find it for me well hey why not!
Geez I thought I was commited but I’m not so sure now! Thanks for that info Dazzling. I don’t even have to ask my wife about moving into ‘drossville’, not a chance in hell. I admire your commitment. I do have a querry about that plan though.
If my PPOR is halfway decent, then I will be getting reasonable CG on that. If I sell and move into a cheap house and buy a reasonable IP, does’t it amount to the same thing? One nice house and two crap ones. Does it mater which one I happen to live in? I guess the advantage is not having a mortgage on our own home right? Not tax deductable. But not having a huge income, means not much tax anyway. Any other advantages?
We are fairly commited though. We are always trying to do the right things, never buy on credit, pay off the mortgage as fast as we can, drive an old car, resist latest gadjets etc.Wow, Thanks for all those great responses!
I really, really want to hang on to them ( the IP’s that is) for the long term.
They are on interest only already. I have a LOC which has been a life saver, and yes I know it could be a killer if I abuse it.
I have read Burley’s book but frankly am pretty wary of wraps. I haven’t researched it further but I just want to keep things simple for now.
I do believe I will do some cheap renos. I have talked to my PM and he reckons I am already getting top dollar for one of the properties. That’s the one that actually needs some TLC. He reckons just wait till it’s vacant, then spend 7K on it, to fix it up properly. Like some one above said, 7k @ 7% is covered by 10 bucks rent increase.
I don’t know about the rest of you but buying houses in Bulgaria sounds a little risky to me.
Thanks GFB, Oh I almost forgot, is 8.8% a reasonable rate for a property manager?Geez, what a nice problem to have! Apart from the jealousy thing, I think the problem might lie in how you speak to people about your money/investments. From their point of view it could look suspiciously like boasting. People don’t like bragging about any subject, not just money. I clearly know when someone talks down to me, and thinks he/she is superior. We all need to feel we are treated equally, regardless of status, finance, intelligence etc.
I have run into a few wealthy people in my time and some treat me with respect and some don’t. That goes for poor people as well in fact.Good point troy. It’s just that this is very recent. After a couple of years then like you say, every house probably has some ‘history’.
I actually found out about the murder by talking to the neighbour while waiting for the RE agent to show up, He didn’t mention the fact. When I confronted him about it he claimed he didn’t have to disclose that it had been a murder just a deceased estate, unless we asked specifically about it.
I feel I would definitely tell the tenant about it. Reduced rent is better than them finding out and then vacating. Plus as you say it is just the morally correct thing to do.
