Forum Replies Created
Terry’s idea is great. Set up a large piece of A3 paper so you can work out each strategy and can compare them all. Jot all your figures and then take them to someone who can help you financially to back theem up (check them).
Cremin and I have done that several times (including reasons why to return back to Aus when we were in London). It really helps clear your mind as you can see it on paper and you can add things you might have forgotten.
Plus, maybe do an extention of each section about future goals. If we did this, it means we could do this more easily. That sort of thing.
Good luck. Don’t get too drunk tonight thinking about it, but do take the time to orgnise your ideas and thoughts with your hubby.
Have a good one!
STeph.P.s. Just had a thought, maybe if you desperately want to keep your PPOR, why not downgrade your cars to something minimal and pump the extra cash in to the house. I know it would be terrible in the eyes of some investors, but when you feel so strongly about something, you have to go with it… Maybe even get rid of one car if you have two. It makes you really think about where you HAVE to go rather than, oh I’ll pop there. Plus you get a bit fitter from walking everywhere! Hubby and I did it for 3 years and saved a tonne of money from it!
Success is 1% inspiration and 99% perspiration.
SUIR with BOM!
I bloody wish!!! One day I am sure. Actually I would be happy to work part time… Again… one day.
Steph.
Success is 1% inspiration and 99% perspiration.
I’m with Obiwan! LEt hubby stay at home for a couple of years and assess your situation again then!
As much as things may be heart breaking at the moment, other opportunities rear their ugly head because you are open to them.
Just stay positive and money isn’t everything. Your child is.
As long as you have food on the table, you will be just fine.
Steph.
Success is 1% inspiration and 99% perspiration.
yes.. .it has been rather boring hasn’t it…. Me thinks everyone so rich they all gone to the Bahamas and forgot to pack me in their suitcase!
Ho hum…
Steph.
Success is 1% inspiration and 99% perspiration.
Agreed. PMs good. Use them time to time. Live chatroom would be fabulous!!!
Cheers
Steph.Success is 1% inspiration and 99% perspiration.
interesting Obiwan.
Cheers
Steph.Success is 1% inspiration and 99% perspiration.
Mind you, having a nice landlord who cops the $20 every 2 months to mow the lawn was quite nice. Ultimately it is the responsibility of the tenant and in most agreements it will have a section about how the garden is to be maintained.
We had a rather large yard though, so the landlord had a mower man come in one every second month to tidy it up. We just had to water it. No biggy.
The last house we had, the landlord paid part of the water usage as we did not have a bore and had to use mains water to maintain the gardens. He paid 40 or 60 %. Can quite remember…
Whatever you do do, try and keep the gards as simple as possible. Most tenants can’t stand gardening and the less they have to do, the better.
Steph.
Success is 1% inspiration and 99% perspiration.
Ha ha ha!! Monopoly! All I want for Xmas is my own private island, my own private island, my own private island!
Bloody hell….
Success is 1% inspiration and 99% perspiration.
Robert, I am not so sure you are being penalised fo rchoosing to NOT have children. When you are older and need medical assisstance, you will need those children from other people to keep the system going. The point I was trying to make was that there is so much encouragement to get mothers back to work which is much to the detriment of their child’s development.
If parents were able to stay home and do their job of bringing up their children so we have a balanced society, surely the outlook for australia would be better? Like I also said, I am not sure exactly how it would work, but I do agree with what you said about people being financially prepared to have children too. But, sometimes finances still can never prepare you for the little buggers as they pop on the scene at the most inappropriate time! Hee hee…
I dunno what the answer is. We do, however, need to start paying more attention to our children as they have been neglected for way too long…
Steph.
Success is 1% inspiration and 99% perspiration.
Answering the original question, it depends on what you have found.
We were in a situation where we wanted to buy an IP and were only looking at the bottom end of the market so it would be cash positive or at least neutral. BUT, our situation changed somewhat. We realised that with the possibility of children in the next year, we will certainly need a bigger house as I plan on doing Family daycare from home. So we went looking for a house that could service that need.
We found a house that was the size we needed but a great deal more than we thought we would spend. Our mind set changed though to accommodate that change. We bought a house that initially will be -ve geared, but when we move into it, the current house we will be in will be positive geared.
So our main ideas was capital gains for now with the plans to change it to +ve in the next couple of years. The beauty of where we bought though was that it can ask a huge rent which should cover a lot of the payment.
Anyway, to cut a long story short, we bought for what our needs were at the time, even though it isn’t exactly what we were hoping to achieve for starters. Our original idea hasn’t been scraped, just pushed aside for a little while. We shall go back to our original plan soon.
Cheers
Steph.P.s hope you had a great Xmas!
Success is 1% inspiration and 99% perspiration.
Originally posted by obiwan:Migration cannot possibly be a solution to the aging population. It would have to increase 1000% to make a dent. The only way the aging polulation can be arrested is if fertility rates increase significantly, but this is unlikely to happen anytime soon.
Obiwan, you brought up an interesting point about fertility. There really needs to be more encouragement and incentives for mothers to stay home with their children. I mean, nurturing the future generation is a fulltime job as is and maybe the government needs to treat it like that. Pay mothers a half decent amount to stay home with their children.
I certainly plan to stay home regardless, but I probably would be more encouraged to fall pregnant quicker if I knew that some of the taxes I have paid out over the years will help me out.
I’m not so sure in my head how it would work, but if the younger generations are to look after the oldies, we really do need to increase the birth rate in Aus.
Steph.
Success is 1% inspiration and 99% perspiration.
Queens park… Urrgh… Taught out that way. Atrocious children. I personally don’t really like that area much but I don’t doubt it has prospects.
Zen, the block in Applecross will propbably set you back an arm and a leg. Why down grade to something that you can’t really be comfortable in. If you’re happy in your current home, stay there until something really bites you in the bum!
The problem with the block is that you would have to develop it somehow. But to develop to the standard in Applecroos at the moment, it would cost you your wife’s arms and legs too!
No one can tell you what is right or wrong. You have to rely on your own gut instincts and what is best for your family. Rememeber, money isn’t everything when your children are whinging thath they have to share bedrooms each and every day!
Cheers and Merry Christmas.
Steph.Success is 1% inspiration and 99% perspiration.
Jo, what does BTW mean again???
I forget all these bloody acronyms… I have too many of them in education as is let alone this website too!
Cheers
Steph.Success is 1% inspiration and 99% perspiration.
You gotta love the quokka Redwing.
I bought three of my cars via the quokka. All extremely cheap too.
Unfortunately don’t have so much luck with it up here in Gero. Have to go mad with it when we are in Perth and have the ute with us.
Well done mate!
Steph.Success is 1% inspiration and 99% perspiration.
Just thought I’d add in that here in WA, (I’m not sure if it’s always the case…) Cremin and I have bought two places with only $500 down and the balance of deposit on settlement.
$500 is what the estate agents have recommended.
Comments?
Steph.I agree Jo. No point giving that measly bastard any more money than you have too!
Besides, 16 weeks is all you have to wait, and that’s about the time it’s take you to work out what you want to do. Plus use that holiday home for all its worth!
Ummm, silly question, but if it’s a holiday home… it would be kitted out ready to stay in. No? If it is, why don’t you do holiday accommodat for three weeks of a months and leave yourself a week a month to enjoy your holiday home. THat way you will still get some income and enjoy your lifestyle choice too!
Maybe, offer a slightly lower rental rate to ensure you always have someone in there. Well, to start with anyway.. As soon as you get people coming back regularly or they recommend it to others, increase the rent to near normal holiday rental prices.
Just a thought…
Steph.Success is 1% inspiration and 99% perspiration.
Hee hee Chris. How unfortunate!
Our place was still being advertised on the internet and on the real estate agents wall for a good 2-3 months after we had settled. We had people slowing down and stopping to look at the place! The worst thing was, the parents of one of the kids in my class thought it was for sale and wanted to buy it, only to find we had bought it already!!!
Very strange eh…?
Success is 1% inspiration and 99% perspiration.
Yep Phil!
I got one twin in my class, the other in the other year 4 class. I have also taught one of a triplet!Thankfully, haven’t had a set in the one class as they are pretty much always spilt up.
Cool.
Have a great Holiday Michael.
Steph.Success is 1% inspiration and 99% perspiration.
SKM,
You got the right attitude to succeed when you choose to enter the market. You seem aware of the need to knuckle down at first and that is often the very first step you need to take.To be able to budget and save acccordingly is the best thing you can teach yourself. It helps later down the track if things do get a little tight.
Kiwi is also on the money. Find someone you are comfortable with and pick their brains. Sometimes there are nice REA out there who will give you their time. I think they see it as investing in your future business.
Good luck and remember to have patience. Good things come to those who wait. My husband and I are proof of that! We’ve been patiently waiting for years and finally things are happening for us. All very good!
Steph.
Success is 1% inspiration and 99% perspiration.
Phil, I think the problem is how easy it is to get these cards. On my new mortgage being set up, we are going to be given a $5000 limit credit card. Our current card has only a $2000 limit, so we are going to cut one up of the 5k and freeze the other 5k card in a block of ice. For emergencies… I doubt we will use it though coz we have been there and had a CC maxed out at $5000 and it wasn’t a nice feeling. We swore we would never do it again.
If credit companies stop thowing them at people, or make them a fair bit harder to get hold of. I also think a little bit more education on budgeting in the high school years wouldn’t be so bad either.
Final day today at school!!! WOohoo! Teachers only. No kiddies… Thank god!!!
Cheers
Steph.Success is 1% inspiration and 99% perspiration.
