Forum Replies Created
What opportunities do you think this poses for the saavy investor?
Dan Lewis
I remember hearing Rene speak at the World Masters of Business conference a few years ago. I never knew much about him but he sure made alot of sense (and money) and was a very smart man.
I know Rene Rivkin wasn’t perfect, but who is?
I can’t imagine the heartache and loneliness that one must go through to decide to end it all. It makes you think that perhaps life isn’t where we have thought it was after all. May God be with his family and friends.
Dan Lewis
Hi Scotty3,
I have 9 accounts with ING Direct Savings Maximizer and find it great. Did you know ING’s rate changed recently to 5.40% (Variable)?
Dan Lewis
Hi mkc,
Have you investigated the needs of the seller in VIC? There might still be a win/win situation.
“Understand the needs of the seller and tailor your strategy to that need.” – Steve McKnight.
You might not need a deposit bond if you can cater to his situation. You might consider paying a bit extra for the property on the basis that you could have a long settlement and only pay a small deposit on signing.
Dan Lewis
Hi Nehal,
Brahms is right. You’d probably do well to work as much time as you can and save as much as you can every week.
But as Steve McKnight said at the Sydney Masterclass, “there are usually 101 different ways to do anything.”
Could you convince your parents to get the loan for you? Would they go guarantor for you? Do you really have to work only part time? Could you do a joint venture?
These are not recommendations, but its always good to think outside of the box.
Dan ‘the man’ Lewis
PS – no insult taken Brahms [suave]
Hi Alan,
Taken from the notes for Sydneys Masterclass…
“Tax is calculated by ((Sales Price – Net Purchase Price – Sales costs) x 50%) x 48.5%)”
– 50% is for the CGT discount as you have had it for over 12 months.
– 48.5% is the Highest Marginal tax rate.Dan Lewis
Hi Dave,
I’m not sure whil you’re looking for Capital gains in Sydney given the current market conditions but Residex may have what you’re after. However they’ll want some money from you.
See: http://www.residex.com.au/index.php?content=top100&PHPSESSID=82c127e3e681969ee0451dbed5acef3b
For the record, I’d also like to know if anyone knows where to get this info for free…
[suave]
Dan Lewis
To All,
Loving all these stories, they’re all so inspiring. Keep them coming! I could learn so much from you guys thanks.
Still in school, you blow me away. Let no one say it can’t be done huh?
CrownOfGold you’re sound like you’ve got your head screwed on. Thats so awesome… congratulations on getting married.
Perhaps some of you guys could give me some advice. As you know I’m currently 25 and have only about 8k to my name. I have no debts and generally save around $230 per week. I’m keen to get going with my first +ve CF IP hopefully before September this year.
My folks would possibly be willing to help me with my first down payment (which they would have no trouble doing)
What would you guys do in my situation?
[suave] Dan Lewis
Hi JJ&Jo,
I imagine it is just becuase being flexible on both causes you to easily loose sight of your investment strategy. As an investor, your primary focus should be on your investing system. You should have a strategy and hold fast to it during negotiations.
Dan Lewis
Is time really that scarce? 90% of the fun is doing it yourself against the odds. [blush2]
Dan Lewis
Hi,
The new Wealth Guardian is now out and would be great resource to help you with setting up your trust. Have you considered buying that?
Dan Lewis
Hey Destined for Millions,
I love your name… I believe it! I take it you used the First Home Owners Grant for that one. If you don’d me asking, did your parents give you any financial assistance to help you get started? What area did you buy in?
Dan Lewis
Hi Matt,
Thanks heaps for your reply. Do you know if the taxes there are exit taxes like in NSW?
Thanks again,
Dan Lewis
Hi Terrabyte,
When was the best time to invest? Yesterday.
When is the next best time? Today.
“Whoever watches the wind will not plant; whoever looks at the clouds will not reap.” – King Solomon
Dan Lewis
Hi Marvin,
This link may be of assistance to you.
http://www.osr.qld.gov.au/gas/fhog/index.htm
Dan Lewis
‘sup loanwolf,
One of the biggest mistakes people make in their journey to financial freedom is increasing their lifestyle expenses as their investment income increases. ie. – new car, holiday or whatever.
But it’s not all bad, just a matter of personal choice.
A holiday would be great. Have you considered setting yourself a benchmark allowance for lifestyle expenses with your investment income?
eg. 5% only of my investment income goes to increasing my lifestlye expenses.
Dan Lewis
Hey Wilko,
This link might help http://www.infochoice.com.au/banking/atcallsavings/compare/tables/savings/fees/QLD.asp
http://www.Infochoice.com.au is a great resource to find all sorts of rates and fees associated with many different banks.
Dan Lewis
[email protected]Hi dunnyboy,
Firstly I want to applaude you on your ‘get out there and do it’ attitude. I’m 26, and am kicking myself that I hadn’t made a move earlier with regards to investing. I’ve come close to investing a few times but I got ‘anaysis paralysis’ because I was too afraid of making a mistake.
I have 2 recommendations for you:
1. Listen to people and take correction (even though sometimes it can be a downer)
2. Whatever you do – invest!It may be risky, but you are young. Listen to people and take measures to minimize the risk. But you’ll never eliminate it entirely.
Dan Lewis
[email protected]
