Or Maybe God missed…..[biggrin]

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Rob

Intesting to note that you don’t state here that you got banned as a result of a bet.

To Quote you

I rejoined as a bet. Another member wanted to know if I would get the boot within a week again without swearing or directly abusing anyone after some comments I made here. I thought I was a certainty to win. I lost as it took a few days too many.

https://www.propertyinvesting.com/forum/topic/17296/6.html?sortfield=&sortorder=

I think that people on somersoft would disagree that you stuck to your rules.

I apologise for repeating myself. Your banning had nothing to do with your message but every thing to do with your delivery.

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Rob

The only thing the so called group at somersoft have in common is that they like to have an element of reason and logic in the debate.

When people come in and get involved in discussions where they conveniently ingore logical arguements and go off at irrelevant tagents the frequent posters ( or the group as you like to call them ) will challenge them, which is how it chould be.

There is as wide a range of view points on how to invest on somersoft as there is here.

The only reason why people get banned on Somersoft is for spam , abusive , threatening or potential libelous posts, and even then , most of these posts are just deleted and the poster asked to chill.

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Rob

I’ve said before that I wouldn’t use steve’s ( Navra’s overall strategy. With regards to your second last paragraph I agree completely. What happens if the banks ( stung by losses from a property crash ) decided to change their lending criteria , and won’t revalue properties becuase they have lower LVR’s. What happens if the property has gone done in value and the bank want to decrease the amount of the loan…..??!!

There’s so many what if’s

As I said there have been many post on somersoft covering this topic and I expressed my concerns in this post

http://www.somersoft.com/forums/showthread.php?t=14486

If the banks are dumb enough to consider capital distributions as income, that’s their problem.

You asked in this thread for someone to name which banks consider it as income and I’ve provided you with a reply. So you reply that you wouldn’t consider it as income…. that’s your perogative, but someone did answer your question. If you chose to dismiss that again that’s you perogative.

I don’t imagine too many people on this forum would have sympathy for people who get into financial trouble and then try to shift the blame of to their mortgage broker. I can’t imagine you would . Your comment on that vein only comes across as an attempt to distract people from the fact that someone has answered you question.

Re you comment about shares. If you want to continue that debate , why don’t you continue that debate where it was raised. I will stand by my statement that I don’t think too many people would consider buying managed funds , investing in shares…..

But maybe we should let people draw their own conclusions

http://www.somersoft.com/forums/showthread.php?t=20752

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Rob

I asked the broker that I use ( Rolf Latham ).

He said that in the past Westpac, Bank of Queensland and Homeside have come to the party in the past.

He thinks most lenders are way too thick to realise the difference between capital return and dividend paid…..

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I don’t use Steve’s Strategy , however I have several friends ( from Somersoft ) who have used elements of his strategy with good effect.

I personally disagree with his ” Overall Strategy ” ( mainly living off equity ) but again I can see that I might use elements of his approach further down the line.

Up to now I haven’t had any problems with servicability ( which is addressed with Cash Bonds ) , and I have taken a different approach to the type of properties I buy compared to those that Steve advises. Steve advises buying “good properties” which fit within his “rental reality ” formular which is in esence a way of determining ( in share market analysis terms ) value buys. Personally I prefer a trend following approach , ie waiting until I see an area that is taking , or about to take off and then buying at that stage.

His course is well worth doing and isn’t a teaser for a more expensive course.

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All the people who I know who plan to do it “live ” over at somersoft where there have been some heated posts in the past.

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Steve Navra is certainly the most articulate proponent of living of equity around, though personally it’s not something I plan to use.

However Steve Navra covers more than just this, he’s a very genuine person ( must be something about the name Steve ) , and his course is well worth doing for anyone who is serious about investing ( not just in property )

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Robert

I don’t thing that posting a link to a newspaper article on this forum is going to have much impact on the state of the Australian Property market.

If any individuals decision to buy or sell based on the impact of reading one article , then they probably don’t know what they’re doing and shouldn’t be buying anyway.

I think that it’s worthwhile having links to any property related article. Then we can make up our own minds.

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