Forum Replies Created
I Cross-Coll most of my IPs, but maximum is 3. But every now and then when the property have enough equity to stand alone, I just inform my lender to do the revaluation of the property for itself to stand alone.
I am sure by set up LOC or the so called Master Account from you existing equity you can go to any bank to borrow money without just stick to one bank.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]Tammy,
If I were you, I will move in the current house together and draw down the equity to purchases a few +ve cashflow properties. At the same time save up until you are ready to purchase quality investment property in a few year time to offset your +cf properties.
I would then move out of your current house rent it out and purchase a better house for both of you to live in.
Which meant in a space of 2-3 years from now you will have 4 +cf and 1 -cf and PPoR (total 6).
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]Rugbyfan,
I got it ready and waiting for PoorDad response so I replied.
Currently PoorDad on holiday.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]Replied in BLUE
Originally posted by elves:Yakky put up a post about what to do with 42K?
Well I have that dilemma and as I value the opinion of quite a few people on here, perhaps they would care to give me their opinion.
I promise to take it on board as I need the advice.
Scenario: sold a block of land I have 48k. Out of this I have to repay the balance of funds friewnds lent me. So remove 3k and I have 45k left.
what do I do?
Do I pay off my credit card debt which is enormous at 25k ( i used this short term to finish some deals and my own reno) Four cards with that debt so interest is lessened a bit.
Then use balance for a deposit on a place say in regional area?
YES, $25k to credit card debt. leave you $20k as a deposit for 2 x $50k regional properties.2) do I pay off some debt, keep some cash, use a deposit toward property
NO3) do I buy a property outright use income to pay off credit card plus my own income? Property would be positive in this instance.
NO4) use it as deposit for three or four regioanl properties and worry about credit card debt later?
NO5) pay it off my own mortgage and forget the rest? That then gives me more equity and reduces my monthly loan repayments…
NOany other thoughts?
cheers
Elves
” a blind man may see what a sighted man may not”
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]I am here.
They all upset of me because I posts too much here…LoL
I was thinking of creating this topic this morning, but I thought I better not say anything otherwise they will call police.
Maybe PoorDad warned me that’s why I post so little here. Furthermore, did you see this topic:
http://propertyinvesting.com/forum/topic.asp?TOPIC_ID=8826Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]Maybe because of this disappearing posted without trace that cause me to questions Richmond regarding my posted disappearing.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]I did a lot of science subjects which does not help even a bit for my investing journey. The subjects like 4 units maths, physics, engineering science…and I also questions what’s going to use for in the future and up until now it’s still useless for me. Luckily I did computing studies which does help me.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]Shushar,
What would they teach – budgeting, mortagages, shares, property, managed funds, wraps, options, warrants?I believe that teaching any of this topics is better than nothing at all. At least students learn the basic things while they are at school.
If I knew what I was doing at school back then I would do subject like ‘economic’ or ‘business study’ and so for because that will help in my basic investing in the future.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]Bigben,
For me only I could not agreed more. I knew about Domino Effect’s techque and some other also knew it from SIS, but as far as I know none of us want to use it at this stage.
As I said before if opportunity arise then I will use it one day. And I believe that’s going to be a long time.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]It would be nice if school subject does have ‘basic investment’ for all students. Then students be able to learn the basic things instead of have to wait ’til finished uni to aquire this knowledge themself if they choose too.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]CD & your supporters,
Take a look at the forum again and see what you saw. As far as I can see it have been divide to many category.
1. Re: Property Investing (General Property and Help Needed are where most people seeks informations without interruption) and I see fairs posts there.2. Investing Support: Eventhough I don’t hang around in this area much but I see quality informations in there as well.
3. Resources (there are quite a lot valuable info in From 0 to 130 Properties and heads up).
4. Community | General Matters (isn’t it what it all about, opinionated, Fun and discuss?
For me I like to have a lot of fun in the forum frolic where all the nonsense, jokes, riddles, games is kick in. But when come to serious stuff then I will try my best to answer questions especially in ‘General Property’ and ‘Help Needed’. If you have the knowledges and would like to shares, why not? if you like to have fun, why not hang around in forum frolic. There’s no one stopping you unless you did stupid things.
I believe people can posts whatever they like as long as it is not offensive to other and according to the rule. If it is not according to the rule then the admin or moderators has the power to remove it. what’s wrong with LoL, what’s about smilies faces, isn’t it what it is for? If you don’t express your feeling by using LoL or [juggle] [guitar] [strum][drummer] [whip] [worried] [whistle] then how do you do it?
These are just a thought and would like to express my opinions and anyone can agree or disagree.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]Thanks once again.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]Redwing,
So are you saying we are paying CGT eventhough the place is your PPoR.I might need to talk to my accountant for this one.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]Redwing,
Now there’s the answer. If you still not happy then PM SIS direct.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]Russ,
It’s fine if you buy property base on gut feeling, but for me I will never do that.You gut feeling won’t tell you the full story but statistics will. If the statistics tell you not to buy then I would not touch it, but that’s me.
If you find one with a long term tenant dont matter if you like the place or not .You are still making money from the place.How long will the tenant stay? 3-5 years? is it been signed in the tenancy agreement? what will happen after that? can you find the new tenant in the area? if you that’s great.
This is just a thought and remember it is any guess.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]Looking forward to it, thanks.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]Originally posted by Risky:Yes Chans your perfectly correct , you could be burnt if you jumped in and bought a ip for under 100k with no due dilegence in a regional area but my point is it would be a little bit more painless than the same invester doing the same thing in the city for 300k. [mario]
What about the same investor don’t buy in country areas as well as in the city, but looking for quality investment property say 20 to 40 km away from the city? I am sure it will grow in the future and I will never invest in the ciy anyway.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]H.C.,
Say at ’05-’06 you buy your first investment property, how do you know it’s going to grow more then inflation after that. It’s anyone guest, so at the moment most of the media is gusting it. Are they right? I don’t know. Are they wrong? I don’t know.
And how do you know from now to ’05-’06 it’s going to grow 4.5-5%. It’s just a guess.
If you buy for +cf then I don’t think it’s matter when you buy coz you buy set and forget. Collecting your cash every week.
The same apply to quality investment property, it will grow in the future with your due diligence and market research in the area.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]Originally posted by melbear:Chan$, I think the valuation only works if you live in it then move out.
For the renting first, then moving in, I believe the CGT is calculated on a pro rata basis of time lived in vs investment.
ie if you live for 1 year, but rented for 3 beforehand, you pay 3/4 CGT.
Cheers
MelIf that’s the case then say you buy property at $100k rent it out for 3 years and within that 3 years there is no grow at all. Then you move in the forth year live there for 3 years (say 50% grow) from $100k to $150k. Therefore, after 6 years you sale the property.
Does this meant that you pay CG while the property is your PPOR?
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]H.C.,
If I have cash right now then I will look for property investment opportunity right now. I don’t like to wait until ’05 or ’06 because what would happen at ’05 or ’06 you found that the areas that you actually want to invest right go up 5-20%. You probably would say to yourself…damp I should buy it back then.Rather than kick yourself at the end, why not invest now?
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]
