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Viewing 19 posts - 1 through 19 (of 19 total)

mikeej
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@mikeej
Join Date: 2003
Post Count: 25
July 28, 2004 - 8:38 am
Na I don’t want to muck around. Basically the bank won’t let me do what I wanted to do so I just want to get rid of it and move on. I just need to find out all the ins and outs of what I’m going to lose, what I can claim etc etc.
work sux!
mikeej
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@mikeej
Join Date: 2003
Post Count: 25
April 11, 2004 - 12:26 am
I have a method, I call it Mikes golden theory.[biggrin] I can’t reveal it though, it’s a secret. Iv’e told a few people, but the rest of you will have to guess!
This should be a smart sounding comment but it isn’t!
mikeej
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@mikeej
Join Date: 2003
Post Count: 25
April 4, 2004 - 1:06 am
If you have equity available can you use it or do you have to still satisfy the bank as far as servisability.
This should be a smart sounding comment but it isn’t!
mikeej
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@mikeej
Join Date: 2003
Post Count: 25
April 4, 2004 - 1:00 am
Man that guy rocks! Get front row and some sweat might land on you. Hopefully he plays all the classic hits such as Rich Dad Poor Dad and Cashflow Quadrant! Get your T-shirts at the merchandise stand.
This should be a smart sounding comment but it isn’t!
mikeej
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@mikeej
Join Date: 2003
Post Count: 25
February 29, 2004 - 1:17 am
I bought an IP in Adelaide 2 months ago. I put down a deposit of $5000. The place cost me $215000. You can put down whatever you like as a deposit.
This should be a smart sounding comment but it isn’t!
mikeej
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@mikeej
Join Date: 2003
Post Count: 25
February 3, 2004 - 9:21 am
Could you please fix this problem. I never get the monthly newsletter cause my email has changed
mikeej
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@mikeej
Join Date: 2003
Post Count: 25
January 31, 2004 - 4:31 am
Originally posted by richmond:
SIS
For what it’s worth, I think a mountain is being made out of a molehill in this thread, but for all your achievements in buying 13 houses at the age of 21, it would be good to set the theory aside and gain some practical insight into how you’ve done it. You’ve said elsewhere in terms of gaining instant equity, doing no money down deals, and now in regards to your accountant, that you can’t reveal information… plenty of other people are happy to reveal information, but for some reason you’re super secretive… I just can’t put my finger on why, or for that matter, what you are worried about…
Cheers
r
I know what he is worried about, but I can’t tell you, it’s a secret![xx(]
mikeej
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@mikeej
Join Date: 2003
Post Count: 25
January 17, 2004 - 12:50 pm
[V] Still no go. It sais the page cannot be found when I click on the link.
mikeej
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@mikeej
Join Date: 2003
Post Count: 25
December 7, 2003 - 2:00 am
I wouldn’t say theres an oversupply as the turnover is very quick. A lot of places are contracted after the first open. I’ve just bought my first IP after weeks of searching. Veiwed the place on a sunday then went to the RE lunchtime monday to submit an offer and it was already contracted!. Got a call few days later that the buyer couldn’t get finance so I submitted an offer and got it because I had finance preapproval, even though my offer wasn’t the highest. (Thats a tip to remember).
mikeej
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@mikeej
Join Date: 2003
Post Count: 25
November 18, 2003 - 9:32 am
quote:
A person who earns say $80,000 a year still gets the first 6000 tax free, the next 15600 at 17%, etc etc, so it is fair on everyone.

Is that right? I thought you payed the percentage bracket your in on the whole amount.
mikeej
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@mikeej
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Post Count: 25
November 18, 2003 - 9:16 am
Do I have to put her name on when I buy it or can I add it later if I want to?
mikeej
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@mikeej
Join Date: 2003
Post Count: 25
November 14, 2003 - 8:53 am
This question is slightly off the topic but,
If I subdivide a large block and build two houses, can I put all of the proceeds from selling one into paying off the initial cost of buying the land and building the houses, without paying any kind of tax. I am assuming there will still be some of the loan principle left, so I haven’t actually made a profit. I would then rent out the other property with no intention of selling.
mikeej
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@mikeej
Join Date: 2003
Post Count: 25
October 29, 2003 - 5:26 am
Would you mind telling us what you learned. How do you turn
$7900 into $225000 in 3 months, how do you own a $230000 investment property in one year?
mikeej
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@mikeej
Join Date: 2003
Post Count: 25
October 28, 2003 - 11:18 am
I saw an ad in API for a seminar on getting rich property developing (p23). If anyone went or is going could they reveal the secrets?
How to turn $7900 into $225000 in 3 months, how to own a $230000 investment property with zero debt in one year and the creative property strategies they talk about.
mikeej
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@mikeej
Join Date: 2003
Post Count: 25
October 22, 2003 - 11:57 am
Are there any lenders or loan products where you can borrow to build and not start making repayments for a period of say 6 months to allow time for the construction?
mikeej
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@mikeej
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Post Count: 25
October 21, 2003 - 12:13 pm
If you build 2 homes that are joined, a duplex, do you still have to subdivide the block?
mikeej
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@mikeej
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September 21, 2003 - 12:15 pm
[]The answer to the question is [] 99%of what u read on the internet is BS.[]
mikeej
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@mikeej
Join Date: 2003
Post Count: 25
September 8, 2003 - 7:46 am
What I would do is combine the $40,000 with the IP loan but I’m still not shure whether there is some ruling in the homestart contract that I cant use the equity.
mikeej
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@mikeej
Join Date: 2003
Post Count: 25
September 8, 2003 - 7:17 am
Property is worth about $160,000
Owe about $40,000
Interest rate is 6.72%