Where's the 'like' button…

When you say you put the extra cash into your investment, did you place it into an offset account or pay down the actual mortgage via principal and interest?

Hey,Is it not IO already? Yes the idea is to have it set up as IO with an O/S account from the start.Placing your extra cash in an O/S account functions the same way paying down principal would, and as stated above, reduces your interest repayments in the meantime, leaves you with less hassles when you want to invest in IP#2 etc down the track.…[Read more]

Ditto – I've spoken with TerryW on that exact matter previously, most clear and helpful advice I have received to date.

Personally not a fan of OTP or Apartments in general, yet my friend who only buys apartments is currently ahead of me in equity growth so there you go.I have looked at it, and would personally stick to boutique apartments maximum of 10 per unit block, ensure there are no mega complexes being built around the corner driving prices way down as is…[Read more]

I think the states in either Think and Grow Rich or The Millionaire Next Door was, every billionaire goes bankrupt on average 3.1 times.I think we've all made 'horrible mistakes' financial and personal, what I find to be the dividing line between those that succeed and those who don't is their attitude and perseverance. I meet so many people that…[Read more]

My parents have just come back from China yesterday, and after hearing what they had to say (I was in China earlier in the year and was seeing the same thing to a lesser extent), I would have to (for once ) agree with the Freckle. China's economy has slipped significantly, not that we didn't see this coming i'm sure, since if everyone's broke,…[Read more]

b.free2live wrote:
Hi MACQIf it was my name I would post, hopefully somebody will tell me how to PM?

Click on the persons name eg. where it says b.free2live [41 posts] right above your comment.Takes you to members profile, should then show in bold SEND PRIVATE MESSAGE.If you don't see that, then you have to activate it, and that my friend, I do…[Read more]

renel wrote:
Does anyone else agree with wren10 { unless the rental return (pw) is equal to the purchase price (minus the zeros) }?That would be 5.2% gross. Is that a good figure to aim for? What about net %?

I'd say that's any standard run of the mill property. Your aim if possible is more than that. Steve Mcknight says to aim for 10.2%. My…[Read more]

Scott No Mates wrote:
You will need to determine if this is the Board's sewer or your drainage. There should be few issues if it is your service. what does sewer diagram indicate? Where is your boundary trap?

Hey, have the same issue.If it is my drainage and not the boards, and runs directly down the middle of the backyard front to back. Will I…[Read more]

Click around on that site…http://home.id.com.au/id-community/public-resourcesTho the information is yet to include the 2011 census data.

Matthew_W wrote:

NHG wrote:
First property, I felt I was being rude offering such a 'low' price. My dad who always has an opinion told me off for not negotionating hard enough.Fast forward 6 months, purchased property number 2. This time dad was uncomfortable as I was putting in 'low ball' offers. I stuck to what I felt was the right price for…[Read more]

Wow,Great effort. I purchased my first place when I was 17, however didn't have a clue why or what next till I was 23 :pHave a plan, read lots of investment books, learn to live frugaly and network network network. Learn from those that have walked the path before you, your only limited by what you see possible.Remember some of the best lessons…[Read more]

Hey Emma,Would you be able to email that to me? I'll send you a PM.Thanks NHG

As sad as it sounds, I undertook most of my overseas flights, purchased a couple of new ‘used’ cars and saved more during the 2008 recession than any year prior.

Made a little bit of spending money on the stock market too, never seen so much movement in a day before.

You can pick things up very cheap when everyone yells out doom and gloom.

PISTORE wrote:
In summary, do what your parents did and you'll end up like them.

Haha,Tried explaining that concept to my dad, he was understandably very upset.He struggled to understand why I talked to my accountant for accounting advice, the lawyer for legal advice and the friend who owns 50+ properties for property investing advice ins…[Read more]

Kristin Simondson PBRE wrote:
Australia Post (<<was shocked that this one worked). Would love to hear updates from time to time how it's working for you.

How'd you manage that?

Terryw wrote:
Wow, have you added up all the savings???

Hey Terry,Sadly battling to break even on the first purchase 6 months back, I had a lot of unknowns that keep blowing out, so everytime I save I spend. Eg. Found a 2 bedroom granny flat for $28k, then realised I needed to purchase an easement of council, negotiated down easment, found out…[Read more]

Haha,Stole that idea from the 1985 film Brewseter's Millions: http://en.wikipedia.org/wiki/Brewster's_MillionsFunny film from memory, Brewster needs to spend $30M in 30 days to inherit $300M and tries to spend some of it on a business venture shipping ice to the middle east which actually turns out to be quite profitable to his bemusement.

Nope,If it's not a government grant, they'd have to be getting this $30k grant from somewhere. Me says, that somewhere would be your bank account (government gets it from there to, let's not get into the specifics tho ).