I have had no financial dealing with Destiny, but found the FinSoft software (a free download to buyers of the book) excellent and worth the price of the book. It was a nice ‘added value’ surprise and a good example of ‘exceeding customers expectations’.

I have looked at the cashflow positive property register a couple of times. I was expecting…[Read more]

G’day – with $50k/year, you should be able to save $15k in a year ($20k if you’re really frugal), and have a 20% deposit on a cheap country property in 12 mths.

Or you could investigate loans with only 5% down (but see thread re mortgage insurance), so you can get started in under 6 mths.

Peter

G’day Paul – I am also fairly shy and find it hard to approach people, but I am reminded of something that was taught to me during sales training.

That is ‘Knowledge Gives Belief’ (KGB). And if you believe in something, you will be much more confident and will be able to speak from a position of knowledge.

A year ago I would not have been able…[Read more]

I am a strong believer in having control over one’s finances, but you won’t need to budget at all if you have a tough mindset of ‘just saying NO’ unless there are overwhelming benefits.

Make it a rule that every major product you buy must save you either time or money. If it doesn’t, then don’t buy it. For example a VCR or DVD requires the…[Read more]

I’m finding that it’s useful to produce a graph so one can quickly see whether a property is cashflow positive or not.

Mark the Y axis ‘Weekly Rent’. Mark the X axis Loan Amount.

You will need a home loan calculator to work out the repayments. I use Finsoft 4.2 from Destiny.

Secondly you need to make up a spreadsheet for all your property’s…[Read more]

I was in Melbourne yesterday, and have never seen so many cranes in my life! Some towers are complete, with many more under construction.

I would suggest a research trip to satisfy yourself that Melbourne CBD is not heading for a massive oversupply before buying anything.

Hi Steve – I’d be interested as to where you can get a unit for around $45k. Was it in a growing area, or not, or were the circumstances of the vendor such that they had to sell urgently and cheap?

Looking at the web listings, there are heaps of properties for sale in the Latrobe Valley (esp Morwell) very cheaply.

With low population growth,…[Read more]