The only difference is with a LOC, lots of your profits are going in DR interest on your LOC. With that repaid, all the money goes directly to you. Financially you feel and look to banks a lot better off.
I would never advise anyone to sell their home, but we are determined to make a success of investing, and not just be an average investor> We feel the only way to do this is to SELL.
I guess we have owned our own home for some years, and the novelty has worn off. We don’t see it “up there on a pedestal” anymore.
We have just listed our house on 20 acres (a week ago) and we are going to cash in our LOC, pay out our small mortgage, and SPEND THE REST on lots of +ve cashflow ppty.
We will rent a small house, but we will have CASH coming in. Although we’ll be in a smaller place, we’ll feel rich because we will not have to look at our big LOC, mortgage loan etc. We will have a mindset to “GO AND DO IT”.
YOU ONLY LIVE ONCE! You can always buy a house later.
The Today Tonight crew were at our place today filming, (which I might add is not straight forward with 2 girls aged 4 & 5)and have been at others also recently. Never act with kids or animals. We tried it with both….[]
Please don’t laugh at us. WE ARE HOPEFULLY BETTER INVESTORS THAN TV STARS !!!!![][]
Without spoiling the plot for Today Tonight, we have set our goals, and are going to do whatever it takes to succeed. We are finding it just as hard to find deals as everyone else though. That won’t stop us!!
Perhaps we could catch up soon if you get any time off from that other opposition network!! ha ha…[][]
Yes I see what you mean. All those calls from wanabees ringing up about places that are sold a week or two ago, must really give the agents the sh**s![]
I was at the seminar. The price was more like $1500, but that’s OK, and I was lucky and got a 2 for 1 deal because I booked & paid before a certain date. It was a double bargain.[]
The seminar was held over 2 days, Sat & Sun. On Saturday afternoon, we were all offered the opportunity of the Millionaire Apprentice Program, and who ever wanted to take up the challenge had to submit a homework assignment & questionairre by “08.15am” on the Sunday morning.
Of course, everyone there except one or two I believe, submitted the applications. A couple come in after 08.15am, which was the absolute cut off time to hand in applications! They proved they couldn’t do it, so didn’t get considered.
After that exercise, everyone was surprised on the Sunday to find out that interested applicants ALSO had to fill in a daily journal for the 30 days following the seminar. Last day of the journal was 30th June, 2003
Well, here’s the bombshell, that blows everybody’s selection theory.
I believe that only about 45 people out of I think 180, were the only ones that could be bothered to write a few lines each day, and post it to Steve. This proved that the others didn’t appear to have what it takes to committ to something for even one month, not a year!! There may be some people who changed their minds during the month for whatever reason, perhaps knew that with work & family committments it really would too difficult etc, and that’s fair enough.
Steve purposely put this monthly journal as the decider, and it proved to be very interesting figures I thought.
Who ever is chosen is out of that 45, and NOT who looked best out of 180.
Good luck to all on the program, Yes you may have gathered I am one of the lucky 12. If I was not “chosen” I would have accepted it and felt that it was at least a fair process. I would have tried to do it on my own though.
I wish everyone on the program huge success, and I wish everyone NOT on the program huge success. The program will take up lots of time and some sacrifices to all participants. A lot of the chosen people are flying in once a month from all around Australia – AT THEIR OWN COSTS. There are other regular costs also, accomodation etc.
Hey guys, please don’t think that we have had this handed to us on a platter, and we are going to wake up “millionaires” one day. Steve is NOT finding any deals for us, or telling us where to invest. Everything is up to us. He is there as a “mentor”, and we can ask his opinion etc.
I thank Steve & Dave for this chance of a lifetime opportunity, and I hope that other forumites will support us all.