A few different books…

There is a book called “The Five Lessons a Millionaire taught me”, but I don’t know who it is by. It is about general wealth creation, easy to read.

Another book I have just finished is by Kim Kiyosaki called “Rich Woman” and it was really good. Told in a story format, generally suited to women who have not been taught…[Read more]

Thanks contrarion,

That seems to be the best strategy open to most people for making the most of your Capital Gain.

Kelly

For anyone who is interested in this topic, small businesses are able to get CGT deferred or tax concessions if they sell business assets (that are not investments).

There has seemed to be some debate since 2002 to have a stepped rate of paying CGT, so that the longer you hold an asset, the less you pay of CGT.

There has also been discussion to…[Read more]

Hi Dutchie,

Don’t know if your looking for positively geared one or just Capital gains…

Pakenham would also be an interesting one. It’s on the other side of Berwick and Narre Warren, just two suburbs further away from the city. Got a lot of promising things that seem to be happening. Its the next empty space that goes out that way.

There is…[Read more]

Thanks everyone for your responses.

I knew that you could do it in the US, and I thought it wasn’t available here in Aus. (Otherwise everyone would know, hey!) But one of my friends said that she knew about some way to do it in Aus, but so far I haven’t found it.

Unfortunately (or maybe fortunately) I am not over 50 yet, so any CGT I have would…[Read more]

Some basics…

Do a budget and analyse where all your money goes, so that you can maximise your savings before you move out of home.

A mortgage of $220,000 will cost you around $1500 a month, so start by saving this amount (less any rent or board you need to pay currently). (Or alternatively calculate how much your likely mortgage and resulting…[Read more]

That’s it, people have to live somewhere.

And if house prices in their area are unaffordable, where do they go? They go out… further from the CBD, further from the larger suburbs, and then the infrastructure is built to support all these people moving further out… I guess that’s how cities grow.

I’m not an expert, so I won’t try and predict anything!

I’m a little confused…

You have a granny flat that could sell for 650K?!

It is hard to know about capital gains, because some areas of Aus are going down or sideways with their growth, but others are going up (in mining areas etc…). I imagine it may depend on the area and maybe also whether your property is a median house or the up-end of…[Read more]

Hi Colrose

Marc makes a good point.

It may be a good idea to analyse where you want to be in 5 or 10 or 20 years, because that may make a difference to your strategy. It is important to acquire some assets that produce income WITHOUT you having to do anything (like building, reno’s etc…).

If you are going to acquire several properties, I…[Read more]

Hi Waratah,

I think it depends firstly on your bank. (I’m sure some the people who specialise in home loan stuff on the forum will be able to answer better that me!) It may be a good idea to ask your own bank and see what they reckon for you own circumstances.

Secondly it depends on how much risk you want, as a higher LVR will increase your debt…[Read more]

Hi Ana,

I have been recently looking into the transportable home idea myself, though I have never bought and used one. (I am presuming a Kit Home is a similar thing to a transportable).

One website is
http://www.fleetwood.com.au
but these people are based in Perth, so the costs may be massive if they don’t have an outlet closer to you

Another…[Read more]

Great to hear (sorry, read) all the comments.

We leased a Holden Commodore for one year through my husbands work (Secondary teacher) in 2003.

His old car broke and we couldn’t afford a lump sum at that time to buy him another. The lease was only about $110 a fortnight before tax (about $80 after tax if I remember correctly) and the price…[Read more]

Hi Ali,

Maybe it depends on the city/area. I live in Melbourne and there has been a shortage in rental accomodation, and so rentals have gone up in a lot of places (even by the train line).

But in other areas, (for instance, Salisbury QLD in the previous reply) the situation may be different.

Kelly

Hi Kenlea,

Whilst the rule doesn’t strictly apply in the current market, Steve (in his new book) does talk about how it can still be used as a guide to see how close a property could be to being positive cashflow. This then gives you an idea of how much you may need to do.

For eg, if you are only $20 or $40 a week in the red (or negative…[Read more]

I know it is common to see this in Melbourne (at least where I live), and I have been told by many agents that the + means 10%. So a $300K+ house would put it in the region of $330K.

We found the + sign very confusing when we bought our first home.

Kelly