Forum Replies Created
As long as you understand that your ignorance has made you decide to turn your back on a legitimate source of wealth that many people invest in. Most people if you include Superannuation. A form of security that underpins the economy.
of course your other choice is to do a little reading and make an informed choice.
What I described was trading and only in response to an earlier post.
I personally invest in high yielding tax effective income streams. Some of which are positive geared. Does that sound more attractive?
wealth4life.com wrote:Hello all investors,For all those share traders out there can you tell me what sites you monitor … Huntleys or eTrade or any good suggestions please
D
The sites I read are as follows:
http://www.hotcopper.com.au (not so much any more)
newsletters from http://www.motivatedmoney.com.au and several others accumulated over the years
These are just off the top of my head.
When you say monitor what exactly do you mean? Forums? Paid newletters? News services? Online Brokers? Traders Blogs? Education sites? There are an awful lot out there.
Hope you find what you are after.
wealth4life.com wrote:Dear oh dear whats wrong can't you people read,I asked for web sites that you use for information … i did not say "that these are the best sites" … i clearly asked for what sites you monitor … Simon i am surprised with your comment go back and read the question and you are the one who made the "generalization"
Thank you Duckster for your references …
D
The reason I ask this question, is because its amazing how many financial advisors and stock brokers out there who have never traded themselves, yet are some how experts to give others advise.
Kind Regards,
Mark Leith
Property Advocate
Global Buyers Agent
http://www.buyersagent.com.auThat was the generalisation I was referring to. That an amazing amount of stockbrokers do not trade themselves.
ta
GlobalMark wrote:Dear Morgage Hunter,
PS: If a trader is only right 30% of the time, wouldn't you loose money 70% of the time?
(Exuse my ignorance, I am sure you have answer to this one)
Kind Regards,
Mark Leith
Property Advocate
Global Buyers Agent
http://www.buyersagent.com.auNot if you cut the losing trades fast and let the winning trades run as long as the price is going up.
ie A trader buys five different shares for $1 each. Four of them drop that day to 20c, 40c, 50c and 60c. One went up to $1.40. Pretty volatile shares here!! Clearly he has lost a packet right?
But the trader had stoplosses set at 5%. So his broker sold off the four losers as they hit 95c losing 20c overall. But the fifth share covered those losses and made another 20c to boot!
Of course this is a simple and silly example but I made it up just to illustrate that things are not as simple as they look but are not too difficult either.
Too many of us property guys dismiss shares and funds as being risky, after all this is what grandma told us!
I have never met a stockbroker who didn't invest himself in stocks. Of course trading is a specialised subset of the stockmarket and I sure hope there are brokers who don't trade.
I think your post is a whopping generalisation that is impossible to substantiate even if it was remotely true.
Of course noone can predict movement 100% but a trader needs to be right just 30% of the time to make a decent profit. Even this is difficult to do but clearly not impossible.
Sounds like you were able to make the system work as it should!
Well done mate
You should be able to just redraw the funds to use as a deposit on a new IP. This would be easiest.
Otherwise topup the existing loan.
Do not redraw and use for personal use ie a car, holiday etc. This will be nondeductible and mess up the whole thing!
So you didn't live with him in this house when he got the grant?
who asked to sign that agreement?
This is all new to me and I appreciate your story. I just worry to much about people getting into strife!
I can only send it to folks who email me
I cannot message you and attach it via this website.
Ciao
So there was two transactions involved.
If the other person was your ex partner and you had lived together for more than 12 months then you have claimed it fraudulently. This might get picked up in an audit. I hope you can convince them it was an error and not deliberate fraud.
Cheers,
No, I don't believe so. But they don't tell me much.
As long as you don't live in the IP you can still get it later. This changed in 2000 but many people still don't know.
Cheers,
shel25 wrote:I'm pretty sure that it doesn't matter whose name is on the mortgage loan, rather whose name is on the actual 'title' of the property. I was able to get the FHOG after my previous partner had already received it on the same property! that was because my name wasn't on the 'title' only the mortgage loan
You both got the FHOG on the same property?
Buying an IP does not stop you from getting the FHOG at a later time when you buy a home.
it is already on two blocks of land. You wont even have to subdivide it.
Just sell of the second block if you wish as long as the house is completely built on one block with the necessary room between it and the boundary. if it is a Qlder you can move it accross quite easily.
It depends on the price as to whether it is a good deal or not. They may have already factored in the potential value of the second block.
Get all of this checked out before you make a decision – you cannot rely on the opinions of a bunch of strangers like us!
sizzling_duck wrote:Thanks for the response.I was sort of expecting this, which is why I was asking the question. I doubted I could but would prefer to find out rather than close the door on that option altogether.
So really my choices are:
Keep the 100,000 dept and make it a +ve rental
Sell it and use the money to clear out most of the debt for the new home
Transfer the title and the ensueing large debt to the other half for full stamp duties
or
Xcollaterol which seems much the same as option 1? Seems to add a level of liability to me though?As far as I am aware those are the options. Of course the xcoll is up to you – I was just saying that this is the simplest method rather than establishing two new loans as described. Many people feel xcoll is to be avoided at all costs. I am not one of those and feel that is can be useful and sometimes should be avoided.
Ciao
You got to understand that the new loan against the old home wont be tax deductible so there is not much point to taking out the LOC. Even if a loan is secured by an IP the deductibility is determined by what you spend the actual money on. In your case it will be a new PPOR so it will be personal debt.
The easiest thing to do will be to cross collaterise the two properties and just take out a new 100% loan for the new home.
The most tax effective thing would be to sell the old home and take the equity to the new one. Then borrow 100% to buy a new IP if you like.
If you really think that the old home will make a great IP then you can "sell" it to your wife. She "buys" it from you at it's full value with a 100% loan. This is now deductible for you and you have freed up the equity to buy your dream home. Drawback is that full stamp duty will be paid on this "purchase" . May be well worth it as a cost to free up the cash – do the sums.
Hope this helps and sorry for the bad news.
Lynette Greig wrote:Hi there am new to this – someone please tell me what FHOG, PPOR and LOC means Thanks LGFHOG = First Home Owners Grant
PPOR = Principle Place of Residence = Home as opposed to IP or Investment Property
LOC = Line of Credit = a flexible type of loan run in a similar manner to a credit card
When you have decided what the split will be then consult a broker to help you sort it out. The Broker cannot help you decide what is fair – just help you finance it.
If you have that equity and income then this shouldn't be a difficult loan to put together and any decent broker will be able to help.
Richard Taylor who posted above has certainly demonstrated he is a man of experience and integrity and I think we all agree that these are probably the most important things we want from our broker!
All the best to you,
I assume that most of them are OK. If so just put an ad in the paper and someone will come and get them. Perhaps even offer them for free if someone digs them out and removes them – a win win deal!
