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JetDollars
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@jetdollars
Join Date: 2003
Post Count: 2,435
March 31, 2004 - 3:44 am
2 weeks ago I gave 2 movie tickets to one of my tenant who look after my property really well and paying rent on time.
I will also give one week free rent for signing a new lease for 2 years. The tenant want air condition in the unit so I will put it for them with $10 per week extra for 2 years lease.
At this point, I am not plannig to give anything away for easter.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]
JetDollars
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@jetdollars
Join Date: 2003
Post Count: 2,435
March 31, 2004 - 3:24 am
It was an email chain that seen to me and I assume it is real, but don’t take my word for it.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]
JetDollars
Participant
@jetdollars
Join Date: 2003
Post Count: 2,435
March 31, 2004 - 2:51 am
Dear All,
I don’t want to create another topic, but want to add my question here if I could.
I just got a pest inspection done on one of my potential purchase for investment. there are live termites activity on the side fence, but there are no activity in the house.
I know you can do a pest control treatment for termites. The questions are:
1. Will it be a permanent (no more termites activity) once the treatment done? or I have to do pest inspection / treatment regularly for this house?
2. Any estimate of how much it cost for 30 metres fences termites treatment?
3. What is the downside / risks if I buy this house? ie. future sale?
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]
JetDollars
Participant
@jetdollars
Join Date: 2003
Post Count: 2,435
March 31, 2004 - 1:07 am
The Chan Chan things does not exist anymore, maybe because I have enough of it.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]
JetDollars
Participant
@jetdollars
Join Date: 2003
Post Count: 2,435
March 30, 2004 - 11:27 pm
Rugbyfan,
Maybe I try to watch more Rugby. I did watch the Rugby world cup and quite enjoy it as well.
So which team are you supporting? My guess Warratah.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]
JetDollars
Participant
@jetdollars
Join Date: 2003
Post Count: 2,435
March 30, 2004 - 2:23 pm
Rugbyfan,
You should change to RugbyUnionFan….LoL
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]
JetDollars
Participant
@jetdollars
Join Date: 2003
Post Count: 2,435
March 30, 2004 - 7:53 am
Rugbyfan,
That’s why I don’t use it at the moment, but I might consider using it in the future if I am going to invest in New Zealand. Just carry the 20% cash and borrow 80% from New Zealand bank, no drama at all.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]
JetDollars
Participant
@jetdollars
Join Date: 2003
Post Count: 2,435
March 30, 2004 - 7:49 am
Rugbyfan,
You look like ‘South’ ‘rabbotoh’ (can’t spell)
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]
JetDollars
Participant
@jetdollars
Join Date: 2003
Post Count: 2,435
March 30, 2004 - 6:35 am
Rub – by just looking I will know it is you, so you don’t have to tell me…LoL
But I will keep my eyes on the street
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]
JetDollars
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@jetdollars
Join Date: 2003
Post Count: 2,435
March 30, 2004 - 6:31 am
Celivia,
I think there is one catch tho…the interest on LOC will be higher comparing to the normal structure where you do cross-coll.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]
JetDollars
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@jetdollars
Join Date: 2003
Post Count: 2,435
March 30, 2004 - 6:23 am
I don’t think I can do better than what Terry suggested, but just would like to add that get your structure right at the first place. Speak to professional accountant, talks to brokers as well as the big banks.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]
JetDollars
Participant
@jetdollars
Join Date: 2003
Post Count: 2,435
March 30, 2004 - 5:18 am
In order:
1. Wife & Daughter, Extended Family
2. Health
3. Happiness
4. Wealth Creation
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]
JetDollars
Participant
@jetdollars
Join Date: 2003
Post Count: 2,435
March 30, 2004 - 5:13 am
I learned how to ignore subject like English that’s why my English is so bad. I wish I spend more time learning it and master it. But I am not too late, I am learning it everyday, that’s why I am here typing away whatever I can.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]
JetDollars
Participant
@jetdollars
Join Date: 2003
Post Count: 2,435
March 30, 2004 - 5:05 am
Kay,
I think it is a great idea, let talk to admin.
Rubbachook,
If I see someone similar I will run away as fast as possilble…LoL
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]
JetDollars
Participant
@jetdollars
Join Date: 2003
Post Count: 2,435
March 30, 2004 - 4:48 am
The previous issue of API magazine explain fully of how to set up LOC / Master Account.
Example:
PPOR current value = $300k, current loan = $100k
Maximum equity = $200k
Available Equity = ($300k x 0. – $100k = $140k
Set up Master Account = $100k
Buy IP1 = $100k, loan = $80k and use $20k from master account
Available in Master Account = $80k
Buy IP2 = $200k, loan = $160k and use $40k from master account.
Available in Master Account = $40k
.
.
.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]
JetDollars
Participant
@jetdollars
Join Date: 2003
Post Count: 2,435
March 30, 2004 - 4:36 am
Dear All,
New Zealand Map online:
http://www.nzmaps.co.nz/
http://www.wises.co.nz/
http://www.tourism.net.nz/new-zealand-maps.html
or go to http://www.google.com.au and search for:
‘new zealand map online’
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]
JetDollars
Participant
@jetdollars
Join Date: 2003
Post Count: 2,435
March 30, 2004 - 4:19 am
Rubbachook,
I just wondering weather (how to spell?) the tooth match the real person?…LoL.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]
JetDollars
Participant
@jetdollars
Join Date: 2003
Post Count: 2,435
March 30, 2004 - 1:30 am
Derek,
I totally agreed with. In my previous messages it was not intent to realise totally to school, but learn the basic things like investing terms.
I think you make a great points:
The education process (to be successful long term) has to be a joint effort. Some learning at school and reinforcement at home.
I can assure people we (teaching fraternity collectively) can often pinpoint the ‘problem child’ at 4 year old kindy with a high probability of success.
A broadbrushed statement but – I would also contend that a number of teachers have little understanding of money management and basic investment principles – a regular salary, secure employment and often with a healthy superannuation system make for some lazy habits – and by default are not necessarily equipped to ‘teach investing’
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]
JetDollars
Participant
@jetdollars
Join Date: 2003
Post Count: 2,435
March 30, 2004 - 1:07 am
JackFr,
You got to have enough equity to drawdown for new IPs by way of Cross-Coll or LOC.
Which meant you either borrow 105% as one loan doc using 2 securities for the loan or you borrow 80% for one loan using the purchasing property as a security and 25% from Line of Credit (LOC).
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]
JetDollars
Participant
@jetdollars
Join Date: 2003
Post Count: 2,435
March 30, 2004 - 1:02 am
Tammy,
In that case you rent the existing house out and purchase a better house for both of you to live in.
Then you do the followings:
Draw down the equity to purchases a few +ve cashflow properties. Put whatever you can save to your PPoR.
At the end of the day you will be controlling 4 IPs and PPoR.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]