Hi leoau,

The only way that you can get yourself out of the proverbial is by working very, very hard. It sounds to me that the seriousness of the dilemma youre in hasn’t sunk in given that you are considering the easy option of bankruptcy. So by virtue of the fact that you are trawling this forum, you are obviously interested in creating wealth…[Read more]

Don’t get me wrong, those two have done well to get where they are (I too also thought they were living on the edge a little, but hey they have $1.2mil in equity!!!!) but with a little determination and a booming property market, this aint hard to do. They should now be cranking it up now (maybe a spot of commercial, small development etc.) Well…[Read more]

Hi Dev

Whereabouts is/are your ppty in tassie???

Eric

Wayne, just noticed your post with no replies. Suggest getting in touch with mortgage broker who can present to many more options than that of one useless bank. Good luck.

Eric

You’ve probably copped a fair ear bashing already about this Chrismaz, but gees…..12 month settlement????? Talk about being railroaded! Wow, there sure is something missing in this situation. I hope youre able to swing it back in your favour.

Eric

And you know there is people out there that try to beat the message home that living beyond your financial limits is not a good way to go. Unfortunately major behaviourial change is required. However, sometimes when `trying to keep up with the Jonees’ is more cool making big decisions about future financial planning just seems too hard and…[Read more]

Jenny, I also can’t believe how a majority of my `friends’ and even family think they are so secure financially driving around in their flashy cars, or watching their big plasma tv’s etc.etc. It is such a falsehood and what makes it worst is they are oblivious to the financial trouble they are in.

I know I’m proally engaging in some chest beating…[Read more]

Agree with Rick here. Finding +cf properties is rarely dished out to you these days. You certainly need to look for it or use creative ways to make an investment cf+. There are several ways to increase rental yields for instance that has a positive effect on cf.

Eric

With my $10k in savings, I’d be getting in touch with a mortgage broker to see what my borrowing capacity was. If nothing else, this will give me an idea about what sort of properties I could afford to buy now or how much more I would need to save to buy a property in the near future. If I weren’t able to buy something now, I’d be making sure that…[Read more]

Cata, even though you have a vested interest in the subject of the topic, I am happy to debate my point and stick by my original post.

I’m not saying that one should not consider it, but it seems to me that Mukta is in some dilemma about which way to go. I am reasonably certain that alot of us out there in the big wide world of property…[Read more]

Maybe youre complicating things for yourself??? It must be a very BIG deal that you need to be worrying about structures etc.etc.etc…..Its good that you are treading carefully, but I doubt that you need to wait till October before buying a property. My first port of call would be a good mortgage broker (talk to friends, I believe there are some…[Read more]

Whilst it sounds well intentioned, I doubt that you could be so methodical and precise with a time budget as you could with your financial budget. I mean, life in itself is so unpredictable and with most of us here fairly and squarely trapped on the 9 to 5 cycle, realistically what time is left to budget?? You come home, eat, play with the kids…[Read more]

Piling up properties and wealth for the sake of it is nonsense!!! If its part of a long-term investment strategy, one would evaluate it on a regular basis and as it has been suggested above dispose of poorly performing assets, hold others or move into entirely different asset classes as necessary. I love to buy and invest in property as much as…[Read more]

this is the exact situation faced by a family member now. A real dilemma apparently coz their right into city life but are reluctant to hock themselves to the eyeballs in debt. he would rather die than live in twoheadsville apparently! So i then told him to rent (he’s now living rent free with the future outlaws….). Rent is dead money i’m told.…[Read more]

so i take then foundation that your ip’s are p&i geared?

wise words john!

Theres alot to be said about casing out an area that you intend to live in before buying [light].

its great that youve made the decision to invest in property. I for one love the thrill of finding and then trying to seal a deal. i guess for a lot of us, it is this feeling which keeps us always on the look out for good investments and watching our portfolio grow. unless you know an accountant or lawyer/conveyancer to join your `team’ this i…[Read more]

thats an excellent proposition dazzling! in fact one that i was professing to a very close friend on the weekend who too also wanted to get into property investment. alas, he is still running around in the latest holden, wearing expensive clothes, dining out most nights etc. youre right that it takes more than paying the debts off to get ones head…[Read more]

turf the `friend’ out!