Yeah Terryw I should be able to get the FHOG, but I have been reluctant to because it would cost me as much to live there for 6 months as what I would gain from the grant. However if you are correct about it being six years CGT free after living in it for only six months then its certainly the best option.

Is that correct? Surely everyone would do that?

Damn I like your posts Terryw, I am going to have to print them off before I forget!

I personally have already saved $20k, but my parents are willing to add a further $100k. So with a total of $120k it could be possible to buy 2 IP’s but only if I could service the loan. This would be asking a lot and something I wouldn’t be comfortable with,…[Read more]

yep, thats not what i said….so i’ll give you a second chance to read it again

Thanks Terryw,

I have been keeping a record of all my expenses for the last 18 months, but I haven’t really studied it much to see where I can cut back my spending. I am pretty frugal with my money so any additional cut backs could result in total boredom!!!

Having said that I can’t believe how easy it is to spend money. For example this month,…[Read more]

Hi KadeFoster

I don’t anything about the elite investor pack I’m afraid but I to would like to know if it is a good purchase or not???

Before reading ummester’s post I thinking exactly the same thing, fearing other peoples greed which has been the case for the last 10 years. I think its pretty ironic to quote Buffet like that!

Hey quickchick,

How can you say that you feel bullish about the mining and resources industries. China has already started to slow down. Give it another 3-4 years and I’m pretty sure china isn’t going to booming much more.

I still think after reading everyones post that now isn’t a good time to buy an IP. I still think prices are inflated,…[Read more]

Thanks for your posts guys. Nice to hear from lots of people.

I currently don’t own any property because I’m still only 19! And I guess I am being very cautious not to enter the market at the peak, however its inevitable that some day I will need to buy a property. So if I buy tomorrow and the Australian property market shits itself, is that…[Read more]

Hey thanks for your replies Surrealist/mattnz.

Surrealist you say that 10 years ago people had the same arguments. Thats most probably true, people have always complained about property prices. But they say that property goes through 10 year cycles, well I would say that properties have been increasing for the past 10 years easily. And whenever…[Read more]

Hey!

I must say a massive THANKS to all that responded. That was some awesome information, some of which I’ll need to digest for a little while!

Terryw, what you said is exactly the plan I had in my head. I’m actually going to print your post out and stick on my wall!!!!

For the past 18 months I’ve been recording all of my income and expenses,…[Read more]

Hey! Thanks for replying.

Yes, I was hoping the FHOG would cover most or perhaps all of the purchasing costs. It would be good if someone could list all of the necessary purchasing costs, just so I can do some research on all of them. i.e Stamp Duty, Legal Fees….(and I am sure there are more!)

For my first IP I was thinking of having a $100k…[Read more]