Forum Replies Created
I was about to ask a question of the rules of the FHOG and then I thought that I may as well try to find some info on the web. I found this government website which may help http://www.firsthome.gov.au/
I have no property and I’m thinking the best thing for me to do at the moment is buy a PPOR, live in it for a while and then rent it out. I’m trying to work out whether I would technically have to live there for the whole 12 months before I could rent it out? I would imagine this is a pretty common scenerio, does anybody have any experience with it? I have heard of one case where a person had to pay back the FHOG, something to do with a mix up with settlement dates.
Whilst on the topic of buying with family members, are people of the opinion that it is a good or bad idea in general? Obvioulsy there are a lot of determining fiscal factors but I guess with family members there are a number of emotional factors also.
I was thinking of investing with my sister in order to boost the start up capital, however there are all sorts of issues like the ones mentioned previously that have since put me off the idea. Having said all of that though, is it possible to use a structure such as a trust to alleviate some of these problems?
Wow, it’s like watching a game of late night tennis with crashy & westan going at it. Some very good points made on both sides and crashy is obviously a man in the know when it comes to the stock market.
There seems to be some doubt that 95% leverage is not achievable, well I’m here to tell you that it is here and now! westan is right though 95% leverage on shares can be very dangerous, as you would all know by now gearing magnifies gains as well as losses! So yeah they don’t give accounts to anyone, as part of the application process they are obligated to call you and make sure you fully understand the risks. At the end of the day though this is just another wealth creation ‘tool’and like any tool you’d need to assess whether this tool fits your investment profile before persuing it.
Personally with no fees, setup costs, tennant hassles, stamp duty, loan approvals, etc and 95% LVR on my cash I am very comfortable with it. If your interested read the fine print and look through the worked examples on the website. Feel free to ask any questions as I’m sure crashy or myself can help you out.
Having said all that I am aware of the benefits of property investments but don’t know much about them… which is why I am here, to learn.
PS Ahh Davnet, bought at $1.35 saw it climb to $6 and then watched it dive to $0.04 before being taken over by UXC. This was my first share market experience and a very valuable one, I felt every emotion in the one trade and it taught me many lessons all for the bargain price of $1000. Sometimes just doing it and making the mistakes yourself is the best way, just don’t put the house on it!
Hi all, I have been reading many posts on this site with much interest but this is my first post. Thanks for sharing your experiences it allows begginers like me to make informed decisions.
Like crashy I too am geared into the share market, whilst I don’t use a broker, I do get 95% LVR on my funds. I use a derivative product called Contract For Difference (CFDs). The service is offered by http://www.dealforfree.com and all dealings take place on-line hence reducing costs. I consider myself a novice/intermediate trader so I have been taking it slowly and educating myself along the way. With my initial $3K investment my account is now up to $7.5 a 150% ROI in only 4 weeks! Best part is I can keep gearing against my profits. Like crashy I pay interest of roughly 5.25% on funds borrowed and you can also short sell. I will continue to use this product as I believe the share market provides significant oppurtunities for growth in the near future. Sure there are negatives but it’s like any type of investment, research and knowledge are the key!
So why am I on this site well I want to diversify my investment interests, I don’t like the idea of having all of my eggs in the share market basket. I have no IP’s as yet but hope to start climbing the property ladder very soon. I am 26 and the goal is to retire before 40!
Richo.
