Julian,

I understand where you’re coming from. And I too would be the last one to cast aspersions at Steve’s book or obvious success.

I agree though, that net worth is very important and shouldn’t be ignored in favour of pure cash flow assessment of investments. Jan Somers advocates calculating the Internal Rate of Return (IRR) of investments.…[Read more]

Robert,

The question of whether the government should intervene or not basically comes down to a cost equation. If the cost of not intervening in lost future taxes exceeds the cost of intervening in terms of current funds redirected, then intervention is warranted. Of course this needs to be in current value, or discounted future cash…[Read more]

Steph,

Thanks for the well wishes. Kay and I had an absolutely awesome time skipping from island to island in our Seawind 1000 catameran. [biggrin]

Although it sounds cliche’d, I am glad to be home. The holiday was amazing and we’ll certainly be doing it again sometime, but there’s nothing like sleeping in your own bed…

Its good to post…[Read more]

Howdy all,

I’m a Sydney boy born and bred. Now living with my wife at the nice sleepy beach side suburb of North Narrabeen. House is 800m from the beach and 400m from the lake.

Property here, like the rest of Sydney, is pretty expensive though and yields are miniscule. I keep checking my postcode medians (2101) and think anywhere on Sydney’s…[Read more]

Robert,

It all comes down to human failings I guess. There’s those that realise that its dead money and that they should move, and others that just hang on through sheer stubborness or laziness.

Unfortunately, the smart ones probably researched there loan better and therefore are less likely to benefit from a mortgage brokers’ services. The…[Read more]

All,

I think Steph is on to something and its bigger than a lousy $3K baby bonus. If we are to reverse the fertility trend we need some form of intervention from the government. In economic terms you might consider children as a “merit good”. Governments intervene in free markets for merit/demerit goods when they believe the population can’t…[Read more]

Steph,

Woohoo indeed! Today’s my last day at work too so I probably won’t be posting for a while. I’m off to the Whitsunday’s and my yacht doesn’t have internet access… [biggrin]

So, everybody have a great XMas and New Year and I’ll catch you all in 2005!

Merry Christmas!!

Signing off,
Michael.

[xmas] [xmas] [xmas] [xmas]

PS. Phil, I…[Read more]

Alex,

I agree. I don’t have any IPs now and I’m 34. But there’s still a few cycles left for me to hit my targets. I’ve already got about $1M in equity and I did this without investments!! Just worked hard, saved hard and bought my PPOR.

Can’t wait for a Sydney down turn. Bring on the doom and gloom!

Cheers,
Michael.

Phil,

If everyone was a prudent investor that didn’t overstretch their finances, then where would we find the bargains when times are tough?

Don’t be so hard on the conspicuous consumption types. Its their naivity that funds my retirement. [biggrin]

Cheers,
Michael.

Phil,

Like your 10 tips.

Its refreshing to see someone actually suggesting that getting a job and working hard might be the means to financial wellbeing. I get a bit put off when I read all these books that say the “poor dad” is the one with the good job, and the “rich dad” is the high school drop out who just bought up big in property. I…[Read more]

Steph,

I agree, time for a new thread. I think Richmond will be the one to post first [biggrin]

Cheers,
Michael.

Yep,

Saw the add on tellie last night. Looks like champagne all round…

A link to a transcript would be good. I won’t be home to catch the show tonight.

Cheers,
Michael.

Robert,

He he, beat you by 6 seconds…

Michael.

Reasonable offer?

$100,000. If it was passed in at $110,000 then that buyer has gone and its all headed south at the moment. Give it a week and you’ll be able to offer them $90,000 and get away with it.

IMHO,
Michael.

inez,

Unfortunately, I am breaking the golden rule of posting and that is, quoting another post I read on this forum (and not actually referencing as I don’t know where I read it [biggrin]). I read on the forum somewhere that Steve’s second book was written to allow for the fact that the market economics today have changed since he wrote his…[Read more]

Richmond,

That is so cool. My heartfelt congratulations to you and your wife.

12 weeks is the rule eh? [biggrin]

Cheers,
Michael.

PS Just read this article about the impact of workaholic parents which sort of bears out all the arguments you guys raised too. Doh!

http://www.smh.com.au/articles/2004/12/15/1102787145790.html

You guys have no idea how much I’m bighting my tongue right now… [biggrin]

Mr and Mrs MichaelWhyte might and I mean MIGHT have some very exciting news to post in the near future…

Oops, said too much already [blush2]

Steph,

You are so on the money!

I know my wife will make a great mum one day. We have a border collie and she dotes on him. She’s the one who always remembers to feed him, check his water’s full, give him hugs etc. She is maternal, I just don’t think she realises it yet.

I’ve also considered the option of taking a year off myself. But I’m…[Read more]

Brown,

You can still buy positive property, and don’t have to wrap them to get positive returns. Its just you can’t pick them up as readily as you used to be able to. Be careful though, even Steve is now saying be cautious about +ve CF in the current market.

Cheers,
Michael.

Phil,

Nice story! [biggrin]

I thought you were going to say that he had spent $20K as a deposit on an IP and that you were the mug. i.e. You’re slaving away for 60 bucks a day and your mate is making his money work for him (not the other way around).

Some people just never get it though… (lucky for us [biggrin]).

Cheers,
Michael.