kay henry
   Moderator [2347 posts]
Posted 29/08/2004, 12:08:28
Leigh- wrong guru- Steve McKnight wrote “0-130 properties” hehe.
Leigh, I used to commute from the other side of the coast to sydney to work. I did that for about two years, until I realised I didn’t want to be spending an extra 3 hours a day on work-related activities (travel). I now rent in sydney and use my income to pay off investment properties. The tax deductibility makes sense to me… but then again, I have no pets The market in sydney, if you wish to buy, is way cooler now, so you can have plenty of time to get a feel for the market.
kay henry

Hi Kay,

Whoops! Yes, it was in fact “Wealth Magic” by Peter Spann which I read Friends lent it to me, as I’m doing all the free research I can before investing in educational materials. There’s an awful lot of free information around too, helfully.

So much so that I’m a bit overwhelmed with all the new information at the moment. Since my initial post I’ve discovered so much more and clarified some things, while coming up with ever more new questions.

On another site – Rick Otton – he speaks of “wraps” and “lease options”. I know there’s
a difference, but I can’t seem to get my head around what it is. Can you help to clarify it for me?

And do you think that looking into buying in one of those ways would be useful in my situation?

And yes, renting would be simpler, however it’s not an option with the pussycats. I thought initially of a strata unit, as the elderly friend I stay with in Sydney had a dog and two (now one) cats when she first purchased. However I want to build an enclosure for them, both for their safety and so they don’t bother anyone. A friend saw one in Melbourne, on a top floor apartment balcony… Anyway, I’ve never liked living in flats, and in fact never did in all my years of renting in Sydney, now that I think of it.

I’ll find a way – I’m quite confident of that

Thanks for the comment about the “cooler market” in Sydney. I like to have time to think things through thoroughly.

I actually sent you a private message. Did you receive that? In it I asked what “PPOR” stands for. You were suggesting I should get one.

Also, is there a spell checker on this message software?

Thanks again for your help

Regards,Leigh

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ChurchMouse Manufacturing – Industrious and Frugal

thecrest
Established Forum Contributor [86 posts]
Posted 25/08/2004, 20:29:49
Hi Leigh
Usually the aim is to build your portfolio.
Hold onto what you’ve got and make it work for you to accumulate more.
Renting is a loss.
Is 5 cats really a good idea ?
Move to Sydney ?
Why not another property in Newcastle ?
good luck
cheers
thecrest

• I read Peter Spann’s 0-130 properties last night, so now I’m definitely holding on to my Newcastle home.
• Good idea or not, they’re dependant on me and I’m responsible for them. And of course I love them dearly.
• My work is in Sydney, as are my friends. I know it will be easy to get more work when I move back there. I could have more work now, but I can only stay for three days a week while I don’t have property there. Remember that sarcastic slogan of a couple of decades ago – “Give me convenience or give me death”? It might not have been too popular with financially focussed people, as I think it originated from within the anarchist community. What I’m aiming for in my life is a “triple bottom line” of satisfaction and success in financial, emotional and spiritual realms. Abandoning my cats (or dog) would be totally against my code of ethics and incredibly psychically damaging. All seven of us will find a secure happy home – I’m quite sure of that.
• Another property in Newcastle is a very good idea, as prices are rising so much more percentage wise than in Sydney, however it will have to wait till I’ve relocated myself back home in Sydney.
• Another good Peter Spann thing I picked up (amongst the very many in that tiny book alone) was “every opportunity is presented with a problem”. Or “challenge” as motivational people like to call “problems” And that’s what I’m working my way through now. Moving back to Sydney is only step one in a long process of wealth building, now that I’ve discovered the concept

So far from my posting I’ve contacted two very helpful professional people who have already opened my eyes to the fact that I have more options than I had realised. I’m already feeling much more empowered

Thankyou for your reply and your good wishes:)

Regards, Leigh

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ChurchMouse Manufacturing – Industrious and Frugal

Hi Ali G,

Thanks for replying to my post. I was beginning to wonder if anyone would

I’ve chosen DangerMouse as my avatar, as he’s very brave and solves problems by taking decisive action! I hope that rubs off on me

This is the first time I’ve ever posted on a forum. I’ve alreday learned lots by reading the other threads.

Regards, Leigh

ChurchMouse Manufacturing – Industrious and Frugal