Destined,

Pay the $2K mortgage insurance so you can get the loan.

Tell em you need another $15K on top of the mortgage for renovations. Finance it in to your offset account then draw it down to pay the car.

Terry will probably tell me that doesn’t work, but hey I’m not above being a little cheeky.

Cheers,
Michael.

Qwerty,

Very interesting. The median’s I posted are for a Northern Beaches postcode too. Maybe its just an area that got majorly overheated?

As I’m still looking at the area as an investment opportunity I’d welcome people’s thoughts…

Cheers,
Michael.

All,

I just took a look at the median prices in one of the postcodes I’m watching. Interesting results…

2004 $690,500
2003 $741,000
2002 $757,500
2001 $550,000
2000 $517,000

They’ve been sliding since 2002, but had just jumped almost 50% from 2001.

Anything quality under $600,000 is starting to look like a good…[Read more]

Benny,

Thanks for the Aussie Valuer reference, I like it. A nice free little snapshot of selected postcodes. Shame the rental yield isn’t averaged for the last 5 years, if it was I could calculate the “Rental Reality” based on Steve Navra’s approach and get my optimum buy price.

But great little site anyway.

Thanks,
Michael

TerryW,

Good question.

I would think that it is possible for everyone to have a high standard of living and live comfortably, but in practice this is very difficult to deliver. Whether this would make them “rich” is really a subjective question based on “how much is enough”. I also think “rich” is a relative term, in that one person can be…[Read more]

And unsurprisingly Jan Somers and Peter Spann and Robert Kiyosaki don’t elicit special treatment.

No such thing as a free lunch…

I still say great initiative! But I was always one for thinking outside of the square…

ANUBIS,

Yeah, I just started noting these little gems popping up myself. Words like wrap, and vendor finance and Steve and first book all seem to get an auto link response.

Way to go Steve and the marketing team. Great concept! Seriously!! Why not, its your site.

Cheers,
Michael.

Spanky,

Don’t know what you’re on about, it sounds straight up to me.

I’ve got a plan, whataya think?

I haven’t borrowed that sort of capital before so will need to go low doc/no doc to the seals. They might put up some tuna if I go mortgage insurance.

I then take my tuna to the bears and put it up for purchase at a very reasonble price. I’m…[Read more]

Tough Deal,

Wow, that’s fantastic. I need to get me some of that action. Where can I send the blank cheque?? [biggrin]

Guys if you want a piece of this I recommend you act fast. Deals that good just don’t last. There is the risk that they’re very seasonal though. How long have you rented for and do you get solid long term tennancy year…[Read more]

FireCaeser,

The market conditions have changed since Steve wrote his first book. I think even he would now advocate caution before applying some of the principles outlined in that book. His second book (see links in my first post above) is more up to the minute, and might be a prudent read before you progress down a particular investment…[Read more]

Wendy,

Welcome to the forum!

I’m sure you’ll find a wealth of information here to help you and your husband turn your situation around. Its certainly possible and you’ve taken the correct first step to get on the correct path.

I like the idea of renting from your daughter. It should be a win/win as she gets a reliable tennant [biggrin] and…[Read more]

Don’t I look like the goose now that Qwerty’s post beat me by 8 seconds [biggrin]

Now that was an interesting read. Quite long, but well worth the effort. It was interesting to see the two different approaches to borrowing that are now in play. There’s the “borrow now, pay later, to fund consumption” guys and then there’s the “good debt to…[Read more]

Aussierogue,

Nope, link doesn’t work for me either, even when I delete the trailing …’s

Seems like an abreviation, but don’t know the correct link.

Cheers,
Michael.

Geo,

I think Yack’s question was broader than just where to look. I think he was questioning the wisdom of looking further afield to chase positive cash flow. He’s questioning the methodology, not its execution.

I too would not be looking further afield at the moment. I think the ripple effect that rural housing has experienced has passed.…[Read more]

Dom,

That’s my dream scenario. I’m doing my own private little rates dance everynight trying to spook the gods in to giving me a rate rise.

I’m not negative geared to the eyeballs, I’m cashed up with a huge amount of disposable income and a helluva lot of equity and borrowing power. Bring on the doomsayers I say.

Cheers,
Michael.

Guys,

LifeX suggested this approach to me in another thread, but it was proved not to work. The understanding is that the ATO looks at the purpose of the loan. So, if she were to further mortgage her IPs to pay down her PPOR then the purpose of the increased mortgage is to pay off the PPOR and is therefore non-deductible.

However, Terry raises…[Read more]

Guys,

Welcome!

Nobleone, I like the post…[biggrin]

But seriously, if you’re looking for the big “secret” of how to invest smartly following Steve’s approach then you’ll be in for a long ride. The big secret really is that there is no “one big secret”, but a lot of small techniques and tips for making more informed and wise investment…[Read more]

Hi Guys,

Has anyone purchased the “Best Growth Metro” report for NSW from Residex? I was thinking of buying this one to limit my search to a few key suburbs that were nearby but wanted some feedback on its usefulness before I put up for the $165.

Thanks,
Michael.

Phil,

Sounds like a good idea to me. Though, if I want to talk wraps I go over to the JB forum where that’s all they ever talk about and have a heap of Aussies online too. PM me if you want the link.

But I’d like to keep this community intact and see a line here to hold those threads as a good idea.

Cheers,
Michael.

Phil,

In answer to your “why now” question, I propose the following… Maybe its a case of the Baby Boomers sitting on their PPORs and realising all this capital gain. They may have been one of the lucky ones and splashed out on a single investment property, you know a unit somewhere as a nice little retirement nest egg.

Now the market comes…[Read more]