yes milen007. Exactly the same concept. Some of the same deals even.

You can play against up to 4 computer players, or against 4 humans, or a combination.

You can also go online and play others around the world. I think you have to register at richdad.com for that though, and pay some $$$

Cheers
Mel

Aha, sneaky Bill. I see he changed his email address from that which was originally there!!

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Mel

Price – not sure. It’s included in the app fee.

Re the Valuation. I think it may depend on your manager. Ours let us organise the val, and then he ‘ordered’ it if we were happy with it. It actually worked out cheaper for St. George to pay for it. They give the valuers x number per week, so get the bulk, and we give 1 in how long?

Of course, if we weren’t happy with the val, then we paid the valuer ourselves. We negotiated with them too. If you are looking at doing more than one in the next x months, they may give you a much cheaper rate.

Ask your manager what valuers are on their panel.

Cheers
Mel

I think Arty’s idea of Survivor of the Forum Boards is the best.

At the first campfire, let’s all vote him off. Then Amit.

Cheers
Mel

Sarah

Will use figures as example.

Say your house is valued at $200K. You owe $100K on mortgage. The LOC will now give you access to full borrowings of $160K.

If you were going to use any of the $60K you just got released to invest in IPs, make sure you get the bank to ‘split’ the loan, so there are then two accounts. One for $100K, and one for $60K which you use for investment purposes. This keeps the interest payments totally separate, and will make it easy for your accountant to calc investment interest.

Then, you put all spare money you have into the $100K loan, including all savings etc. If you need to ‘dip’ into your savings, you just reborrow it from this loan. While the money is there, you are saving interest, and potentially reducing the amount/time of your loan.

Cheers
Mel

And the doghouse has got three (?) dogs already, so there’s no room for Arty.[]

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Mel

Just what I thought!![][}][]

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Mel

Lizzy

From your outgoings mentioned versus rent, there is still a surplus of close to $1000 per year. Even if you borrowed the $11.5K for renovations, I would have thought that the rent would cover it?

If it is a growing area as you say, and the property will cover itself, and grows enough for you to then refinance to pull out any cash you put in, and then some, why not keep it?

Cheers
Mel

Dino

I can sort of understand your dilemma regarding the kids ice cream and the book. (I don’t have kids) At the moment I am living at home as I cannot afford just yet to live on my own and pay rent (I’m 28[]!!). I don’t really want to pay someone else’s mortgage, but I can’t afford to live in a house I’ve bought either (wrong words, I DON’T WANT to live in one of my houses and have to pay the mortgage myself, I’d much rather rent it out). Plus I have two dogs, which will make it more difficult to find accomodation.

I remember as kids (four of us, with Dad being AFP, and Mum going back to work to help pay for our education), Mum and Dad sat us down, and said Dad had just been moved to a job that was 8-4, so no overtime, shift work etc. We were told that we would really have to cut back on things we wanted, cos the money just wasn’t there. I must say, I didn’t really understand it, or the reasons, but we dealt with it. Upshot of it was that to get out of that job, Dad put his hand up to go to Cyprus for six months. Tough D, as he was leaving us all behind for that time. Kids ages was 9, 10, 12, 13. Tough on Mum too.

I presume he got extra money while he was there – in fact I’ve only just thought of that. Mum and Dad used to borrow money from my grandparents to pay school fees, and pay it back to them over time.

If you’ve got heaps of extra equity in your house, and you’re worried about the redraw fee every time, think about getting a second mortgage with the same bank (often the exact same interest rates), as LOC, or similar, so that there is no fee to access the money when you wish to. It will also keep the loans separate – a must for accounting purposes when a PPOR loan and Inv Loan is involved.

I wish you luck in starting out. I believe you have the money in your equity, but it depends on your risk factor what you wish to do. Again, it comes down to the psychology. My Mum and sister don’t like debt, but a couple of million doesn’t worry me, as long as I know there is more than enough assets to back it up.

Erika

Every course that I have done gets you to write your goals down and share them with others to reinforce them. Tony Robbins also gets you to write down time frames, and a plan. I just listened to a Personal Power CD while driving around today, and the entire thing was on goal setting, with a plan.

Cheers
Mel

Thanks Graeme.

Having predominantly bought in the ACT, I have never come across that before.

Cheers
Mel