Forum Replies Created
I have not used Residex however they have a very good name. I was thinking about buying their reports myself. I don’t think there is any report that tells you where to invest or what the best areas are, it is more a process of researching this yourself and using the Residex research will assist you to identify certain characteristics about suburbs in the state you are interested in. I think there may be a variety of reports available, but nothing that says in black and white – invest in suburb XX.
Let us know how you go with the reports and what the prices are like!!!
Juls [biggrin]
JULES1
Email MeThanks Guys
Steven I have tried every trick I can think of and the lender won’t increase the discount rate further or drop the fees because its a package buy. they just seem to stick to the rules although I have negotiated a slightly higher discount.Robert thanks, I also thought this might be the best strategy to take, but seeing as it is variable I thought I might be seen as mad. So I am glad I have found someone to agree with me.
Thanks again for your opinions.
JULES1
Email MeThabks guys
Yes asked it before but got a cryptic answer, so tried again with better results.
cheers
JULES1
Email MeHi Maria
I think you can do better than 6.89 fixed. It just seems a bit high to me. Look around to see what you can find.JULES1
Email MeThanks Terryw. But why bother with Trusts & Companies if you go an give a personal guarantee. Sounds like a waste of time & money setting up a structure to protect your assets it you then leave yourself wide open personally.
Don’t understand this!!!!!
JulsJULES1
Email MeI need the plan so that I can work out the size and also want to add some extensions.
Good advice from all of you
thankyou very muchJuls
JULES1
Email MeThanks Terry
I have an appointment with the bank this week and needed some advice before fronting themJules
JULES1
Email MeYes I found them yesterday. Looks interesting and they also provide services if you are interested. I am wary of ‘services’ provided but am willing to have a look at the Club side of things. So join up and see how it goes.
Jules[biggrin]
JULES1
Email MeHi there
my opinion,take it for what its worth, is that you are buying at a high end of the market for your first property. Regardless of the fact that you will only be putting in @240k, you are still responsible for a property which cost more than $450K. I would be looking for something a little less costly. No matter how much you have read about investing, your first purchase always teaches you lessons. I would prefer to be “learning” in a less costly situation. It is not just the purchase price you will be paying half of. There are ongoing annual expenses plus hefty interest payments (altho considered low in the current climate) that you will be up for.I say look for something cheaper without the DHA strings attached.
cheers & good luck
Juls [biggrin]
JULES1
Email MeTerry
sorry new at this. I have signed the contract and put down a deposit. Are you saying to insure the house now and not wait for the settlement in a few months??Juls
JULES1
Email Mehi Lei
I’ve heard of it and thought it would be excellent. Hoever I have been reading Steve’s books and going to his seminars and have found that sufficient. The cost of the Robert Kiyosaki (may have spelt it incorrectly) I thought was expensive. Also I was not sure about the amount of Australian content there was eg Tax Laws,etc. So that turned me off. There are some good seminars coming up this year with Steve and also the Reno Kings which talk about planning, developing teams, legals, etc. There are also some cds that Steve has which talk about planning and getting a good team of legal/accounting/real estate together. Just scan through the on line shop goodies.Jules [biggrin]
JULES1
Email Me392649
think I saw your posting on another website. You need a better defined goal than just wealth creation. Do some investing in investment books first. Steve’s books are a good place to start, then you can better define what you want to do with your cash. Don’t just rush out and buy property. You need to know what to do with it once you have purchased it, and you need to know where your profit will come from.Jules
JULES1
Email MeI agree its a good idea to get to know the area first and renting is a good way to do so. But your long term plan of 1 unit and 2 houses sounds good to me
good luck with it.
JULES1
Email MeWhy should anyone tell you where the +CF properties are. Its hard work. Do your own searching.[baaa]
JULES1
Email MeThanks all so much for your advice.
I really don’t understand mortgage brokers or their role, so of course I went straight to the ‘which bank’.Greg I will follow your advice and get an option in writing from another bank and see how I go. Barring that going well then I will try a broker.
And do you know they had the nerve to tell me I can’t put my fortnightly wages into the MISA account because their computers break down all the time!!!!!! I must have been dealing with a goon. I’ll try somewhere else
thanks all so much
Jules [biggrin]
JULES1
Email MeWon’t it be the interest on the $20K additional loan amount and not $20K that is deductible if used on purchasing an IP???
Jules
JULES1
Email MeMark
I want to get the FHOG and Live in the property for 12 months as a PPOR (1). I then want to move to a new PPOR (2). So if PPOR1 then becomes my Investment property after I move out, the current market price when I move out will become the base price for the Investment Property and when I sell it that base price will be used for CGT calcs.
But I won’t have to pay CGT when I move out after 12 months myself because it is my PPOR1.is that right Mark???
Jules[blink]
JULES1
Email MeHI Techhowse & Brendan
I cannot help but put my two penneth worth in here. I have to let you know how crucial it is that you make the right decision here.I left school at 16 and have been working every since (a few decades). I did my VCE, Uni Degree, & Post Graduate diploma all PART TIME, while I was working FULL TIME and getting promotions through the ranks in management positions. Of course the reason for this was that my parents could not afford to send me to Uni, and I made a pact with myself that I would always be able to support myself & I would climb the ladder. I can tell you that this road was arduous and very difficult. Yes I made it but if there was an easier path I would have taken it.
The main lesson I’ve learned is that Knowledge is the most important aspect to any investing strategy you make. You are still in the stage of acculating knowledge whether it be from your Uni degrees or investing books. I don’t think it is a matter of siding with your parents views. But I do think that it is a matter of making the most logical and beneficial decision for your future.
You need to have a lot of knowledge which you can use to be responsibile for making investing decisions, for making strategic plans, for controlling your finances and your life. You cannot blindly leave this to someone else
The best advice I can offer you is based on my experience – spend a couple of years doing your studies full time and get that out of the way. You have plenty of time to become an investor in three or four years and a lifetime to accrue the benefits of that.
Your education will help form your ideas and views about all of the factors that impact on your investing decisions. Simlarly so your investing books. Remember you should never take anyones word for anything. If you have the knowledge then you can take advice but you still need to do your own investigations, analysis, and make your own decisions. Your education will provide you with the tools to do exactly that.
Sure I was getting a good grounding in business by going to work early, but I had a terrific struggle studying part time for years while being responsibile for business performance in my full time jobs. So please think very carefully about the decision for your future.
All the very best
Jules
JULES1
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