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Still in School
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Post Count: 1,844
January 14, 2004 - 10:09 am
Originally posted by Jas:
if you are a born accountant, going with the flow will drive you mad.
Going with a closed plan can also restrict yourself. Go with the flow!
Cheers,
sis
People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million
Still in School
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January 14, 2004 - 8:46 am
Originally posted by Jas:
caveat emptor. in bank loans too.
Hi Guys,
Not sure if you all know what Caveat Emptor means. Its just a saying refering to “Let the Buyer Beaware”
Cheers,
sis
People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million
Still in School
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Join Date: 2003
Post Count: 1,844
January 14, 2004 - 8:06 am
lol… sorry it meant to mean looking
People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million
Still in School
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January 14, 2004 - 7:56 am
Hi Guys,
Thats correct there are 2 types of depreciation. On memory i think one is called Depreciation and the other one is called Diminishing Value.
Depreciation – is the same amount deduction for every year for the next so 40 years or so. (Depending on how many years are left in the Depreciating Item)
Diminishing Value – Is were the deduction of a depreciable item value, dimishies over its life. For example a dishwasher might only have a life cycle of 10 years. First year depreciation will be $100 dollar second year $90 and so on till the depreication reaches its diminish value and ends.
Though if an item, is to be either replace before hand, before its deprecation schedule has finished. It is best to complete write that item off and recieve full tax benefits.
Cheers,
sis
People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million
Still in School
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@still-in-school
Join Date: 2003
Post Count: 1,844
January 13, 2004 - 8:30 am
Hey Westan,
Long time no see, how are ya and hows the moving all been?
[:o)] I never carry more than $20 bucks in cash, the rest is credit card and i still feel the same. []
Cheers,
sis
People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million
Still in School
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@still-in-school
Join Date: 2003
Post Count: 1,844
January 13, 2004 - 8:13 am
Hi Pricey,
Steve Mcknight made a bonus chapter for the interest of rising interest rates.
Here is the Link
Cheers and hope this helps,
sis
People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million
Still in School
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@still-in-school
Join Date: 2003
Post Count: 1,844
January 13, 2004 - 7:58 am
Hi Troyid,
A Family Trust, must run at a profit, losses are carried over into the next year and that you can not offset it against a lost. Which means taxs benefits are slightly different.
With Hyrbrid Trust, when you purchase -ve geared property you are runing it at a loss, thus mean you can offset this loss against another preforming asset or distribute all profits, so that the loss is minimal.
Cheers,
sis
People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million
Still in School
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@still-in-school
Join Date: 2003
Post Count: 1,844
January 13, 2004 - 7:53 am
lol, i love my credit card…[:X]
cheers,
sis
People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million
Still in School
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@still-in-school
Join Date: 2003
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January 13, 2004 - 6:47 am
Hi Pisces133,
lol, im not interested in I/O loan, this is just for example if i want to purchase a property but pay it off over a longer period of time, but be able to have more cashflow and more funds everyweek.
eg.
Lets say i want to purchase a property for $100k
at P/I over 30 years at 6% = $599 per month $150 pw
now over 40 years
at P/I over 40 years at 6% = $550 per month $137.50 pw
It might not be much $12.50 per week, but this can also be the difference in making a neutral geared property into a +ve geared property and it also allows for more cashflow everyweek.
Cheers,
sis
People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million
Still in School
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@still-in-school
Join Date: 2003
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January 13, 2004 - 6:07 am
Hi Gilad,
I guess you must be new, Welcome to the forum. The reason why people are investing outside the big cities is, that there are opportunities to be able to purchase property, that are +ve geared and also provide +ve cashflow at the same time.
This allows the person to be able to purchase a property, yet have no out of pocket expense to keep it. The other reason too is that Big Cities/Metropolitan areas are -ve geared and are costing you x amount of dollars every week to service the loan.
Hope this helps and explains,
Cheers,
sis
People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million
Still in School
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@still-in-school
Join Date: 2003
Post Count: 1,844
January 13, 2004 - 5:55 am
Oh Mel,
i remember [], so are we still going to write our book? lol, your a faster typer than me… []
Cheers,
sis
People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million
Still in School
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@still-in-school
Join Date: 2003
Post Count: 1,844
January 13, 2004 - 5:52 am
Hey Mel,
Dont throw your card away… give it to me [].
Depends Yack, i use my credit card for everything, actually i hardly carry cash around. The main advantage is, its much easier for me to justify and prove such spendings cause it is listed and dated on your credit card statement.
Other thing too, and this might be a good thing too for you Mel, On my gold card, they give me access to such packages as the wealth package and some nice little interest discounts on my loans. dont want to say too much but a really nice interest discount.
Cheers,
sis
People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million
Still in School
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@still-in-school
Join Date: 2003
Post Count: 1,844
January 13, 2004 - 4:56 am
Hi Matt,
Dont take it too serious on tax free income, if you do get caught you will get into a lot of trouble. This is something some banks will see as extra cash money you have available, but not all and most lenders will accept this.
The only way i know people have got round this is, that their primary job is taxed and is a real proof of income, the secondary job (cash in hand) is something the bank might consider.
Cheers,
sis
People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million
Still in School
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@still-in-school
Join Date: 2003
Post Count: 1,844
January 13, 2004 - 4:42 am
Originally posted by picja1:
There already is a lender in Australia who lends over 40 years, not fixed though.
Hi Picjal,
Is it ok, if you share who this lender is that offers 40 year loans? Still if a loan like this can be achieved, for a more freely supply of cashflow. A loan like this would be much better, for both First Home Buyers and Investors.
Cheers,
sis
People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million
Still in School
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@still-in-school
Join Date: 2003
Post Count: 1,844
January 13, 2004 - 4:37 am
Hi Rubbachook,
dam, its too hard to make a response that Mel cant answer too, instead i might just make better responses than Mel… [:o)]
Though shes too smart for that… hmmm, []
Cheers,
sis
People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million
Still in School
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@still-in-school
Join Date: 2003
Post Count: 1,844
January 13, 2004 - 4:01 am
Hi Guys,
This is sorta on the subject but has lots of reference to it.
Lets say your earning and have a taxable income, but also you have a second job, which is cash on hand, i know for a fact with some lenders they will consider both earnings against your borrowing and repaying power you have.
They will simply ask you, to get a letter from your work/boss stipulating how much you get payed everyweek, either if you are FT, PT or casual and how long you have worked there.
Dont be surprised if they accept this, cause i have seen this happen and i know of people who do have second jobs that are cash on hand.
Cheers,
sis
People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million
Still in School
Member
@still-in-school
Join Date: 2003
Post Count: 1,844
January 13, 2004 - 3:55 am
Hi Chan$,
Are you coming along this weekend on the bus tours? If you are, i will see you there.
Cheers,
sis
People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million
Still in School
Member
@still-in-school
Join Date: 2003
Post Count: 1,844
January 13, 2004 - 3:42 am
Hi Chan$,
You met PropertyGuru at the last Sydney Investor meeting/discussions at Five Dock. He was sitting next to you and me.
Cheers,
sis
People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million
Still in School
Member
@still-in-school
Join Date: 2003
Post Count: 1,844
January 13, 2004 - 3:39 am
Hi fjficm,
Im not much help on this one, but if you do a search on the Treasure Chest forum/threads. You will find plenty of info about investing in parking spaces.
Cheers,
sis
People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million
Still in School
Member
@still-in-school
Join Date: 2003
Post Count: 1,844
January 13, 2004 - 2:39 am
Congratulations Terry!
Another Platinum Member! Woohooo [^][:o)]
Thanks for all your excellent and helpful post Terry! Well done!
Cheers,
sis
People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million