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Viewing 7 posts - 1 through 7 (of 7 total)
  • Profile photo of o2bfreeo2bfree
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    @o2bfree
    Join Date: 2003
    Post Count: 7
    October 23, 2003 - 10:42 am

    “I suggest you get legal advice asap”
    Hi Bill,
    Yeah figured that but thanks anyway.
    I have alraedy spoken to a solicitor but not really her field so guess I will have to persue it elseware. Guess there is never a quick fix to these sorts of issues

    Profile photo of o2bfreeo2bfree
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    October 23, 2003 - 9:24 am

    Hi, Pretty new to this also but excuse my ignorance …. what is “lo doc & no doc loans???

    Profile photo of o2bfreeo2bfree
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    September 14, 2003 - 1:02 pm

    Exellent post and thought provoking!!
    I to, believe that there are advantages & disadvantages to both PGP’s & NGP’s and consideration must be given to creating a balanced portfolio.
    For me, I believe that several PGP’s should be sought to support the NGP – say a 4:1 or 5:1 ratio.
    This way, most unforseen but inevitable circumstances, such as interest rates rises etc: should be covered. By making sure that your overall commitments do not exceed your present cashflow (allow a buffer zone for extra costs to be absorbed in the near future ie: 2-3% min increase in interest rates over next 2 years), you should be able to remain in a postion of control that allows you to bail out of a property, if need be, without to much risk of a catastrophic loss.

    Profile photo of o2bfreeo2bfree
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    @o2bfree
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    September 14, 2003 - 11:11 am

    Hi all,
    Great site and great info!![:D] My wife (of 8 days) !![:X]) is a nurse and I am an estimator for a building company.
    We both have the same values and goals and plan to purchase sufficient IP’s over the next 5 yrs to enable us to semi retire and travel this great country. Have read Steves new book and many others on “the road to financial freedom” type books. (can thoroughly reccommend Robert Kyosaki’s books as well) There are so many good info books around but one thing is for sure – and they all state the same simlple rule to success-:
    “YOU HAVE TO PUT ACTION TO THE THEORY” [}:)]
    so lets all “DO IT” and one day we can all remind each other where we would have been if we didn’t “DO WHAT WE KNOW WE MUST TO SUCCEED”
    Success to U all!! [8D]

    Profile photo of o2bfreeo2bfree
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    @o2bfree
    Join Date: 2003
    Post Count: 7
    September 14, 2003 - 9:42 am

    Hi Doogs,

    Isn’t it just typical of the ATO (and all other government dept’s for that matter) everything they say is always very much in the ‘grey area’ to be interpreted depending on whether they had a good or bad hair day[:)] and most accountants don’t understand them either – leaving you and us all wondering whose butt is going to be chewed by the illustrious Tax inspector when we next make a claim based on their clear and concise info !!!
    [xx(] Bit of a challenge really isn’t it!![8D]
    Ain’t life grand.[;)]

    Profile photo of o2bfreeo2bfree
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    @o2bfree
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    September 14, 2003 - 9:05 am

    Hi Andy,
    New to all this but given what we ( my wife of 1 week, and I) are planning to do, I would have to say “go for it”.
    Between us, we each have our own home and an IP property each. Haven’t done all the sums as yet but our goal is to buy sufficient IP’s with in the next five years, then get a bus with trailer for the suzi & 2 motor bikes pack up & become gypsies of the highways allowing the IP’s to look after us until we part from this planet.
    Personally I would suggest getting a LOC against your property and retain it as I would guess that its capital growth would be more profitable than paying out fees to Real Estate agents[:)]

    Profile photo of o2bfreeo2bfree
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    September 14, 2003 - 8:35 am

    quote:

    Im looking for opinions on my idea of buying an investment unit or townhouse in Cairns, Queensland. the property is 81k rents for 130 a week, close to beach and town centre, i know little about cairns other than its growing rapidly and its nice and sunny, by the way great site .


    Sound like a goer to me.
    Cairns is a great place and an area I believe will produce some positive results in the near future. Your selection is close to the ‘rules’ for pre-selection and worthy of investigation as I see it

Viewing 7 posts - 1 through 7 (of 7 total)