Gee I only nominated one movie as the thread question asked “favourite movie” (singular) and it was hard going, racking my brain to pick just ONE fav….okay, so now I can add to my list??? [specool]

Shawshank Redemption (nominated in previous post)
Grumpy old Men
Grumpy old Men II
The Odd Couple (original with Jack and Walter)
Top Gun (good…[Read more]

Sorry Westan, maybe I should have included one of these [laugh4] or these [lmao]

My comment was not aimed as a disciplinary retort. I am sure that there is nothing but respect between you all.

Jo

Guys, guys, please!!!

Look, does it really matter anyway??? Whatever works for you, then go forth and multiply!!!

As for me, property has served me very well. To name but one example, I bought one IP in 1984 for $175K and sold it in 1994 for $925K….do the math!!! Shares maybe able to do likewise (I don’t doubt it) but they can (and have)…[Read more]

Yes you’re quite right there Rugbyfan, and I guess in here I felt secure in the notion that it would not be taken out of context (as I know you didn’t) [glum2]…and yes it is sad, that such frivolity is (in some instances) no longer able to be viewed with the same innocence these days.

Jo

Nope….2 possibilities, premonition or he’s planted a bomb!!!![lmao]

Sorry Yorks, just taken the “mickey” couldn’t resist!!! [tongue]

[drummer]HAPPY (Belated) BIRTHDAY
SHAUNWALKER [drummer]
Sorry can’t oblige with your request, but hope you get/got some nice pressies anyway!!!

Hi Simon,

Yes I understand what you’re saying, but what I’m asking is; let’s assume that you DON’T use it for a holiday.

That is, you have a LOC for 100K which you max out on the purchase of an IP for the same amount. You now have 0 funds available to you. Then you drop 10K into the LOC and reduce your interest and leaving you 90K in debt. Of…[Read more]

Hi Squash,

Firstly, REGARDLESS of whether you have pre or actual bank approval (the agent and vendor don’t know this) and as such you can (and legally I have always been told you should) include the clause “subject to finance” I do it all the time and always purchase for cash (hence don’t even need it). The reason to include it, is because it is…[Read more]

Hi Squash,

Welcome to the forum!!!

Point one, re your conditional statement, yes it is too broad – how long is this due diligence meant to take??? Either way, I don’t think you can include it, may you may wish to get confirmtion of this from a legal professional. Do bear in mind that you have (depending on which state you are in) from 3-5 days…[Read more]

Originally posted by MortgageHunter:

Taking funds from a loan or from a LOC is deemed as a new loan – the purpose of this loan then determines the deuctibility.

So if you put $10 000 into your LOC then take it out again a month later for personal reasons it is non-deductible.

Excuse my ignorance here Simon, but I was curious when I read your…[Read more]

Oh me too, me too!!!!

I’m a real 80’s gal; the disco era was my favourite!!!

When and what time?? I’ll get the hot pants out of moth balls!!! [laugh4][laugh4][laugh4]

Jo

Hi Wallflower,

I suggested Melton in my first post for the very same reason as you; because it is still relatively cheap!!! There are some good buying bargains yet to be snapped up, with new estates springing up and lots of young families buying into it. It is only 37km from Melbourne CBD, and is very accessible via the Western Ring Road which…[Read more]

Oh go on Leigh, be a sport, chuck in the steak knives pleazzzzzzzzzzzzz???!!!! [thumbsupanim]

Bad Boy Acey; play nice!!! There’s amateurs and then there’s amateurs; and I don’t class myself as either!!!

Hi Rob,

Unfortunately you will have to pay CGT (at the 50% rate) regardless of your yearly income or the fact that you have debts tied up in other property. However, if you owed money on the unit, interest paid also needs to be deducted to reduce the CGT bill.

Yack’s calculations are basically correct: 110-40 (Sale price – cost base) = 70,…[Read more]

Yep Rugbyfan, can’t argue with that!!!

But hey, it’s just that FIRST hurdle; it gets easier after that!!! [medieval]

Tell me about it !!!!!

Seriously, I know what you mean Rugbyfan, and you’re absolutely right. I was a nervous wreck [wacko]watching the changes from day to day, [rolleyes4][rolleyes5] and I remember thinking, this cannot be good for my health!!! So I did what any smart investor of shares would NEVER dream of doing, I panicked and cashed in (at…[Read more]

Hi swinys,

Welcome to the forum and to Oz!!!

The first name that sprung to mind was one of the people in here, Stuart Wemyss.

I already have my own (long term) accountant, but if I ever decide to switch, I would definitely consider turning to Stu; he seems very down-to-earth and knows his stuff. He writes for API (Australian Property Investor)…[Read more]

Hi Ace,

As I have mentioned to you in our chats, I am a “bricks and mortar” girl, brought up to think of nothing else for as long as I can remember. Heck, I guess I’m living proof that maybe there is some truth in the saying “you can’t teach an old dog new tricks”!!!

However, I am not fool enough to think that property is the ONLY way to make…[Read more]

Hi sedraash,

Firstly welcome!!!

I know I’ll probably cop some flack for this, but hey, let’s live dangerously for a minute..!!![blink]

I have never read Steve’s or anyone else’s “how to make money” type book, although I have attended a couple of seminars in my time, mainly out of curiousity. Some were good, but most were a waste of time (and…[Read more]

Hi Shane G,

There are two major reasons for people not telling you directly where to invest:

1. Because that depends on what your specific needs are, i.e. do you want CF+ for the sake of money in your pocket, or are you happy to have a neg geared property (sacrificing a little in the short term) for greater growth down the track???

2. Most…[Read more]