Yeh I to was with  RAMS until they rammed me to RHG – Now only 6 months before i refinance away from these creatures!I would not go to RAMS only to the big 4 alot more stable.

ahahhah sounds like a bloke at work who asked me why  I am driving my friends 20 yr old commodore as my wife has my other old car.  I said I am saving for up for a deposit on another house.  He said why bother,,, I said I want a house for the family now.He just smirked when I asked him how much he paid for his HSV Ute – $50K…… I thought to my…[Read more]

Yes you don't want to borrow more than you can realistically afford.  You will need a buffer for any emergencies in the future plus if rates go up again you will just stress out trying to pay back the bank. You will end up a Debt Slave and it is not nice when you can't go to sleep worrying about how you are going to pay the bank next month.

Hey don't worry sit tight – my exit fees are $13,000 and I am leaving at end of Sept 09 Yippeeee… they got me also on a Lo Doc.work out the exit fees with what you might save over the next 12months with the interest rates low. If you can justify it and can get the $18000 back within 12months go for it otherwise sit tight.

why never never never sell?  you mean keep borrowing and capitalising the interest to live off?I have another question also – what happens if you retire and live off your equity for say 2-3 yrs and go overseas on a holiday and just enjoy but still getting rent from your properties. Do you have to lodge a tax return if your not in Australia and…[Read more]

heheheh then we will able to see alot clearer with our third eye the mistakes of the past.  Which hopefully won't be repeated, come on third eye!

My pillow is falling apart…. all the money will fall out!

Thanks for that I will check it out tonight. Though what happens to our mortgages are they just written off?

Quote – "Until we have politicians who encourage people to SAVE we will continue to be weak … MONEY and WEALTH is all about EQUITY it's not how many you own but how much cash you are worth …""I agree with you but everytime we save we get charged a tax from the interest earned.  So why bother saving it in the bank.  i would rather invest i…

I think it was Jim Rogers of Rogers Holdings – Yes he said America is going down big time and that you should become a Farmer to "Quote to George Negus" He advised farming would make more profit in the future and that shares were going down further and property in the US was bad thing to invest in.

Damn straight! ahahaha true… The world is a big pie you just got to take your slice and be happy with it.  Not everyone will be ultra rich, but if you try and succeed in your own way you should be thankful that you are alive.

What is the real reason for purchasing property for long term? My idea would be to get access to money in the future when you do need it either through equity or selling if you really have to get cash in your pocket.  Sometimes you just have to listen to yourself and do what will help you not others.

You can always go to South East Asia and teach english for living expenses and go fishing.. Take it easy don't worry about to much of what might happen and if does happen well so be it.

Did I read somewhere that Warren Buffet was quietly selling down and taking a profit before it all crashed…… I remember people saying that he only buys and holds and never sells.  Sounds like Buy Hold and Pray to me….. I would rather hold for a term then sell and take a profit than hold forever and lose equity.What does everyone think about…[Read more]

Richard do you think that having a 100% offset on your PPOR all the time is a good idea even if you don't want to pay it off.What are the advantages of this?

Always remember to pay yourself first Income in -Save 10% of that Net Total after TaxThen pay for essentials food,etcThen pay the BillsPay down the high % debts asap and then don't buy rubbish you don't need hire movies during the week when they are cheap, take lunch to work, don't drink or smoke for 6 months, ride your bike more often to work if…[Read more]

try http://www.gatherum-goss.com.au – property investors themselves.or strategic wealth management – based in Sydney

Thanks Richard so you pay two lots of stamp duty if purchasing a new PPOR as well as other bank and govt charges.  hmmm I better keep saving then.

Do you have to pay capital gains tax if you sell your PPOR into a Trust and turn in into IP. Do you  have to pay Stamp duty on the full selling price also plus what other charges do you have to pay?

Great read all this.  My hypathetical question is kinda of different. What if i go travelling with family overseas to live with my wifes family and we end up staying there for a few years and then we come back here for say 6 months then go back there to live. We will will not be working as we will have enough money to survive.If I have a PPOR and…[Read more]