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  • Profile photo of sdemsdem
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    @sdem
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    April 6, 2011 - 4:46 am

    Hi Saybalebay. I’m new here and am unable to give you any advice at this stage, but just thought it’d be good to know if you’re planning on only living off this money, or are you planning to get another job somewhere? I’m assuming your compensation will pay for you to be trained up to a high level (Cert III – I know, ridiculous) in something else. Will you take advantage of this?

    Profile photo of sdemsdem
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    @sdem
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    April 6, 2011 - 1:45 am

    Thanks Jamie. I’m assuming it’s good to have a high valuation then, to reduce the amount of capital gains. Will any real estate agent do this?

    PS – I rang the council today to find out the age of the house for the depreciation schedule and they want to charge me $45… is there anywhere else I can find out when the house was built? It’s not in any of the info I received when I first bought the house.

    Cheers :)

    Profile photo of sdemsdem
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    @sdem
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    April 6, 2011 - 1:41 am

    Thanks Tylon. I don’t have access to Sky but am still impressed by the books and articles she’s written.
    I had a Residex report sent out to me this morning for the property I own and it has ‘valued’ the house higher than expected. Not hugely, but enough that I might even be able to buy my next house this year. What I’ll do today is chat to the mortgage broker who initially set up the old loan as he also invests in properties and has a whole wealth approach to investing and have a chat to him. If I don’t like my own style (with help from him and people here) then I’ll move on to somewhere like Destiny.

    It’s funny how a couple of days (literally – I’m laid up in bed at the moment) can really clarify your thoughts!

    Cheers :)

    Profile photo of sdemsdem
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    @sdem
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    April 5, 2011 - 8:35 am

    Lol, indeed Angel. I’ve got a year to save for it, but I’ll probably end up doing it without one of the expensive companies. I think there’s enough information in this forum to last a year, and I’ll re-read all my investment books.

    I’m not in any hurry anyway. I’m 35 and I love my job, which also pays a reasonable wage so I want to be earning money from my properties in 20 years. More of a retirement plan than anything.

    Profile photo of sdemsdem
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    @sdem
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    April 5, 2011 - 12:25 am

    Oh funny. I was searching this forum for Destiny stuff and saw that I signed up here 4 years ago also interested in the same topic!
    Procrastination much!!

    Actually, although I say I’ve procrastinated, I did attend the Highett branch and was impressed, however lost my first deposit in some shonky scam unrelated to property so had to leave it for a while. I’ve owned a house for just under two years now that as of last month became an investment property. I’m planning to buy my second IP next year.

    So, the same question 4 years later… anyone having any success with Destiny?
    After having already bought one house I feel a little more confident in doing it myself next time, using principles from various people.

    Profile photo of sdemsdem
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    @sdem
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    July 23, 2007 - 11:17 pm

    Hey, guys.  Thanks for responding.  I did read the replies as they were posted, but have been too busy to reply myself.

    After using a mortgage repayments calculator on re.com.au, I realised how small the difference between an IO loan and PI loan repayments.  Hmm…lots of interest to be paid!
    Thanks for clearing up the loan structure thing…some people on this forum speak of it as if its the devil.  I guess I should research it more.
    sdem
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    @sdem
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    July 22, 2007 - 4:00 am

    I think you should divorce your wife, and marry the accountant, who obviously still has to work.

    sdem
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    @sdem
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    July 17, 2007 - 11:36 am

    I am not an investor at this stage, but wanted to give my opinion…not advice ;)

    I live very close to you, and have thought about this very issue for years now.  My very unhelpful thought is…can you afford to buy?
    I cannot afford to buy in the area in which I am renting (South Melbourne).  At this stage in my life, I don't want to move too far away from here, and I don't want to move over to the western suburbs (family circumstances, not snobbishness).  Certainly I don't foresee myself being able to afford buying anywhere around here for many years, and I don't think I'd like to spend that much money anyway.  I'd rather live below my means, and ensure I have a very secure retirement in the future.
    So what I decided to do was remain renting in this area (as long as the rent doesn't become unaffordable), and I'm currently saving a deposit for an investment property elsewhere.  
    If you can afford to buy a place around here though, and it fits into your financial/propery plan (do you have one?), I'd do that.  However, I think if you then moved overseas, you'd have to negatively gear it…I haven't seen any positive cash flow properties around here, that's for sure!!
    Please disregard this if you like…just my years of thinking.  You may be in a completely different headspace.
    Profile photo of sdemsdem
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    @sdem
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    July 14, 2007 - 10:30 am

    Hi – I'm confused about why cross collateralising is bad.  Can someone please explain it for me?

    Thanks
    sdem
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    July 14, 2007 - 10:12 am

    Fantastic.  Thanks for that Marc.  I am in Melbourne too, although I've made an appointment in Highett as the guy in Fitzroy didn't respond to my request for an appointment.

    I'm really glad they've been helpful for you, and thanks for the breakdown of what they do….that's more than they've told me on their website.
    May I ask how you've done with their plan? Have you bought properties?
    Ta,
    Skye
    Profile photo of sdemsdem
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    @sdem
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    July 13, 2007 - 10:56 pm

    Hi, Beulah.  I actually meant to go in and have them set up a property investment plan over a few years for me.  I'm assuming it'll be really quite expensive.  However, I don't think the average financial planner would be right for me, because I'm not particularly interested in shares.

Viewing 11 posts - 1 through 11 (of 11 total)