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  • Profile photo of redwingredwing
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    @redwing
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    who’se offering Interest Only Loans with Offset accounts?

    ..and are they reducing the Interest payments only or the Principal (ala ST George.

    Spoke to my bank..al my loans are FI-IO and they wont wear an Offset account

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

    Profile photo of redwingredwing
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    @redwing
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    Many thanks

    REDWING

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

    Profile photo of redwingredwing
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    @redwing
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    Great post aussie..

    “OUT” clauses are there for emergencies Only..and should be used wisely and with much thought into what is written.

    I’ve posted what I use in the past, however, if you want the deal and at a discount..once you’ve established your due diligence and your happy, go in hard and fast and with pre-approval as well as knowledge of your ‘walk away’ price..

    just my thoughts..

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

    Profile photo of redwingredwing
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    @redwing
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    hi Martin,

    as i said i’m interested in your story and think you’ve got a lot of knowledge to impart..

    i too was surprised at your disbelief regarding the money to be made from salvage products on the deal in the video clip, however, Brent tried to answer that one as best he could.

    Your name has been mentioned at Richmastery (NZ) Property Millionaire (WA) and several other places when *googled*..nothing bad though only a lot of mentioning you as a great developer/investor

    Do me a favour though..spend some time on this side of the forum and impart some wisdom if you can?

    As for your workshop, cant make it..though your book sounds interesting..is it mainly a motivational book?

    All the best for 2006..its going to be a good one!!

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

    Profile photo of redwingredwing
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    @redwing
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    I’d agree with Simon, I’m not in any hurry to pay off my IP’s at the moment, where’s the benefit in paying off principle when the additional funds can be better leveraged?

    you can also look at the Credit Card LOC type loans to rapidly reduce loans but this takes disclipine…

    read Anita BELLs books??

    Plus at the moment i’m achieving great CG (I’m betting Derek is as well)

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

    Profile photo of redwingredwing
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    @redwing
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    Concrete the Lot Calvin and Paint it Green..

    ;o)

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

    Profile photo of redwingredwing
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    @redwing
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    A lot of cheaper areas playing *catch up* Capital Growth rise?

    REDWING

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

    Profile photo of redwingredwing
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    @redwing
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    I agree,

    I think its the time of year..

    For myself I’m planning 2006, Cap Growth is going great guns here at the moment (4.4% last 1/4) and at 10% ($90,500 increase on my portfolio)for the year I’ll nearly hit my 2006 goal..

    However, I’m looking at my other goals of leveraging into shares and another IP..

    To that note I’m still active on the forums, talking to other Investors and sounding out my strategy..then I’ll probably go a bit quiet as well for a while as I implement it..for now you’re stuck with me

    PS- Maybe Steve will have a Property developing book coming out, then the Forum will kick into gear again..I think most people realise the days of ‘easy’ +CF IP’s are gone

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

    Profile photo of redwingredwing
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    @redwing
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    Sounds fraught with Danger !

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

    Profile photo of redwingredwing
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    @redwing
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    I have the same problem at work, trying to convince the guys to use Word (Australian English of course)then “cut n paste” to a document

    Plus when you tpye fsat you mak errurs

    ;o)

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

    Profile photo of redwingredwing
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    @redwing
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    I must be tired..

    Why has Calvin got the 27.5k Loan..is it for when he is ready to buy an IP?

    The other Loan $168k is P&I
    (7% @ 25 yrs is $273.79 p/wk or $1,187.39 p/mth)

    PPoR is $260k for arguments sake when completed and total loans are $168+27.5k =$195.5K

    LVR = 75%
    EQUITY= $64.5k

    Is this correct or do I need coffee?

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

    Profile photo of redwingredwing
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    @redwing
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    One Page Only

    I posted some info regarding Setting Goals in another thread started by Don in Forum Frolic that you may find interesting, for some people though the preference is to have a template that sets out the different areas you can establish your Goals in, hence the sorted link

    GOALS LINK

    I think its Outstanding that you surpassed your Goals three fold..

    In previous years I have written Goals whether they be Financial, Health etc and been able to reveiw them continually as they were posted in a work/property Diary

    Now I’m using a PDA and though a great tool..just isn’t the same as having things down on paper[glum]

    Dazzling has posted his Goals here on previous occasions and then gone back and reveiwed them

    Wasn’t there a quote about “the Life that is unexamined is not worth living” or some such thing, as well as “If you dont know where you’re going, thats where you’ll end up (Nowhere)” all pointing to the benefit in setting and reveiwing Goals/Life

    6 pages is w..a…y too long for me, I’d be lucky to get one out, your template sounds interesting though, can you PM or e-mail me?

    REDWING

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

    Profile photo of redwingredwing
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    @redwing
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    One Template Coming Up

    Thanks to sorted

    REDWING

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

    Profile photo of redwingredwing
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    @redwing
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    How about your Goals Don, have you set them yet?

    My Initial Goal re: Investing is to acquire $1M in Property Assets this year, Long Term it will be $1M in Equity ;o)

    Sub Goals will be another IP in 2006 and leveraging into some Blue Chip Shares for yield..looking at how to bring these goals to fruition now..

    If CG in WA is at least 10%, then without much Effort I should reach the $1M mark in Property Assets

    REDWING

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

    Profile photo of redwingredwing
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    @redwing
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    Great Start to 2006 SS

    And at last someone doing large Commercial Deals to keep Dazzling Company ;o)

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

    Profile photo of redwingredwing
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    @redwing
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    I know you’ve been doing up your place Calvin, any idea of the current value?

    If you can ascertain that then post the value vs the loan I’m sure that Derek and some of the great brokers here can give you further options, as I said before you may be surprised at what you can do (look out 2006)

    Have a great New Years !

    REDWING

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

    Profile photo of redwingredwing
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    @redwing
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    Hi Strawberry,

    Just a question..

    You have an IP in Melbourne (Richmond, do you also have a Principle Place of Residence or are you currently renting?

    REDWING

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

    Profile photo of redwingredwing
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    @redwing
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    Post Count: 2,733

    I’m with Derek and prefer Interest Only; at this stage I’m not too interested in reducing the principal..

    If need be you can have IO-FI Loans with the ability to pay a lump sum each year anyway, the Bonus is the payments are less each month, giving you additional income to invest with as outlined by Derek

    Additionaly how much equity have you got Calvin, you may be surprised at what you can do..

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

    Profile photo of redwingredwing
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    @redwing
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    Funnily enough John T Reed promotes his own books whilst giving the majority of others a hard time..

    But always interesting for a read from someone else’s perspective..

    Calvin, Guess thats why a lot of US books dont apply here, different lingo and systems including loans tax etc etc

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

    Profile photo of redwingredwing
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    @redwing
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    Hi DD

    Just a query

    when looking at your rental returns/yield

    i.e $100k IO loan on IP at $150 rent

    $150x 52 =$7,800/7.8% Yield

    When the IP goes up in value to $120k for example, do you still look at the yield against the loan or the new value?

    Just wondering, I still look at it against the loan, but wondered what others do..

    My yields against loans at the moment are
    7%
    6%
    10%
    5%

    28%/4 = 7% Average

    REDWING

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

Viewing 20 posts - 461 through 480 (of 2,376 total)