Forum Replies Created
Hi Derek,
I am attending the next STEVE NAVRA seminar in Sydney, the april one. I have read a bit about his cash bonds but can’t get my head around them yet. I have a meeting planned for this wednesday with someone in his office, apparently this is free and goes for a hour or so. I have heard some good words on Steve, I’d appreciate your views..
Spider
If u r close to retirement I believe under the new rules you can roll your CG into your superannuation fund.
Spider
Pisces,,
I think you are right. I live at Woolloomooloo which is close to the tunnel. This will lessen the traffic that Kings Cross receives, also South Sydney Council have made a committment to clean up the area. Kings Cross/Elizabeth Bay will be a safe betSpider
Neologism,
I was thinking along the same lines myself. However, it is the original intent of the loan, otherwise, you could borrow against your IP’s for lifestyle and claim the tax deductible proportion which the tax department would not allow.
However, I was thinking what if you had some investment properties and purchased another investment property this time to live in at another future time. You use the equity in the IP’s to purchase the new investment property and therefore it is unencumbered. In a few years you move into the investment property (now the PPOR) and can still claim the interest as a tax deduction as it has been shifted to the IP’s first purchased.
Spider
I believe that Member’s equity do not charge a valuation fee.
Spider
Are you joking
Spider
Even money for tomorrow….if not tomorrow, then odds on for a yes in March
Spider
Pay now Play later
Didn’t a few farmers go broke in the early 90’s getting overseas loans thru Westpac?? after the Oz $ went south
Spider
pay now play laterMini,
What a great read. I agree with every word and would have liked to say it myself but I didn’t want the writer’s cramp you must have. Who is Phil Jones??Spider
Pay now play later
I read about them about 10 years ago. A family purchases a rabbit box in Tokyo for $2m (Aus dollars then) and gives a commitment that their children will inherit the rabbit box and take over the mortgage. I don’t know if I will see that in my life time BUT 40 year mortgages….as you are aware they have 30 year fixed mortages in the USA. 40 year mortgages is only a matter of time. Medical knowledge doubling every 3.7 years, people living longer. I am in my 50’s and still run marathons. When i was a kid the only running people did was to the pub. Better eating habits, more exercise. They only have to resolve 2 issues (heart, cancer) and people will be living into their 100’s. With heart they can resolve that with exercise and proper eating habits. Cancer can be resolved with early detection. Keep buying property
Spider
Pay now play later (and play big)
I think 40 year Bank loans are inevitable. I often hear people say that houses can not get any more expensive in the capital cities. All the banks have to do is lengthen the period of the loan. 100 year mortgages like in Japan???? hand the mortgage over to the kids………
Spider
pay now play later
Melbear
I don’t mind the bath, it’s that soap I hate
Spider
Pay now play later
Bc,
I agree. There seems to be some information overload on interest rates. For what it is worth, what I have done over the years is stay on the variable, as interest rates seem to be lower longer than they are up especially in an election year. I have friends who chop and change, it makes me giddy.
Spider
Pay now play later
It’s ridiculous people use animal names
Spider
Pay now play later
Ambo72,
I’m in the same situation here in Sydney. I am on subsidised rent until August 04, and believe me you need it here. Also part of my deal is that I will be reimbursed stamp duty, legals on purchase so I would be mad not to purchase. I have another 3 years before this option expires. I posted the same question a month or so ago regarding buying or renting. What I intend to do is selectively buy some more IP’s, some LO’s and commercial property. When my subsidised rent runs out in August I will pay the nominal rent. Considering the yield here that investors get it’s laughable buying at this time, I believe the market will soften/fall, then I will purchase using the cash positive funds from the IP’s to service the home I wish to retire in here in Sydney.
Spider
Pay now play later
Life can be pretty simple. If you want to be slim don’t eat sugar or drink excessive alcohol. If you want to make money only purchase goods that make you money. Just keep buying property, time is just a good forgiver
Spider
The man who wants to be rich in a day will be hung in a year
I purchased my first IP in 1991 in Canberra and roughly around the same time purchased 2 more investment properties off the plan. They were all negatively geared. I thought this was good until John Howard (thank you John) cut back on the Public Service. I saw the three properties virtually half in value over the coming years. I just held on and tried to rely on the rent and tax returns. The market came back like it always does and eventually the 3 properties doubled in value from the price I paid. I think Jan Somers is right – Just keep buying. I am now buying for yield. I don’t care where it is.
Monkeybam,
Which comes to my point….Do you keep buying positive cash flow properties in retirement as if you are making money you don’t have to pay off the debt or do you consolidate prior to retirement.
Spider
Rubbachook, Melbear
That makes three of us. Bad real estate must be thriving down there. Sorry Raine and Horne of Woden
Spider
Mortgage Hunter,
Are “the banks” trying to entice people to fix their rates as they “know” the variable will remain as is or drop???
Spider
