[BarbaraParticipant@barbaraJoin Date: 2003Post Count: 18]

January 23, 2007 - 4:14 am

Hi,

Have to say I like number 1 best, followed closely by number 2.

Number 3 & 4 I can take or leave.

[BarbaraParticipant@barbaraJoin Date: 2003Post Count: 18]

January 22, 2007 - 11:30 am

karlm

They didn’t go through a structure with me as yet, once I told them I might not be able to resist my spending on the credit card, they said they wouldn’t really be the company for me, as the whole structure of there product is taylored to using a LOC. So i told them i’d get back to them in a couple of months.

From some comments i’ve been hearing on the forum LOC might not be the way to go for me. I wasn’t aware that LOC’s have an affect on the interest that you can claim from the tax man. It seems that a 100% off set account does the same thing and would get rid of the tempatation to spend additional funds (an issue that concerns me).

It also seems from what your saying that there would be additional costs for me to refinance my existing loan. Would have to confirm this with them though.[confused2]

Another reason I was looking at using this company was the motatavation factory and the idea that they would keep me focased on the final goal of being financially free. Might have to log onto this site for that though.[thumbsupanim]

[BarbaraParticipant@barbaraJoin Date: 2003Post Count: 18]

January 22, 2007 - 5:58 am

Thanks Terryw,

I was unaware of the affect this would have on the interest. You have saved me from a costly mistake. The 100% off set is sounding better and better.[inlove][inlove][inlove]

[BarbaraParticipant@barbaraJoin Date: 2003Post Count: 18]

January 19, 2007 - 1:40 pm

TerryW,

My situation is as follow,

Currently renting. Have 2 investment properties with $200,000 equity. Just short of being CF+. Don’t have any debt apart from $8,000 on a credit card.

Have been advised that a LOC is what I should get. If I used a 100% off set account and not a LOC would there be any difference in how quickly i paid off the loan? Not sure I’d be able to manage the LOC without getting into trouble. If I used a LOC, when i paid off the credit card each month that i would be using for living expenses how does this affect the interest I can claim?

Sorry for all the questions but have been reading a few different options and am becoming confused.[weird]

[BarbaraParticipant@barbaraJoin Date: 2003Post Count: 18]

January 19, 2007 - 1:26 pm

karlm63,

I was quoted a fee on $2,970 for a Destiny System fee and $396 for a Analysis fee.

As i wasn’t sure if I would be able to handle a LOC properly. I’ve gone away and am trying to live off my credit card as they recommend. I’m waiting till the end of March before going back to see them again.

This type of loan makes sense to me as it pays the loan off quickly and you have money to use towards your next property

[BarbaraParticipant@barbaraJoin Date: 2003Post Count: 18]

January 19, 2007 - 1:12 pm

Hello,

could someone explain more in regards to what a buying agent offers in way of services (obviously finds you a house but what research does he do).[blink]

What would a rough figure be towards cost?[laughing]

I’ve never though to use a buying agent!!!!! And wouldn’t have though to with out this post.[thumbsup2]

[BarbaraParticipant@barbaraJoin Date: 2003Post Count: 18]

January 19, 2007 - 5:56 am

Hi

I would also be interested in any response. About to buy my 3rd property, at the moment my loan is P & I, but am deciding whether to switch to LOC when purchase is made.

Cheers

[BarbaraParticipant@barbaraJoin Date: 2003Post Count: 18]

January 18, 2007 - 5:54 am

I’ve been to an initial meeting with Destiny Financial Solutions. I was impressed with the branch at Clayfield, Qld.

Margaret makes all members undertake extensive training.

My suggestion is to go to a branch in your area and talk to someone.

I will becoming a member this year.

Hope this helps…… Try the web site at http://www.destiny.net.au

[BarbaraParticipant@barbaraJoin Date: 2003Post Count: 18]

January 13, 2007 - 3:23 am

Hi,

I also have 101. I think its great, but my family will no longer play with me. As I always win they accuse me of cheating. Can’t find any one willing to play.

[BarbaraParticipant@barbaraJoin Date: 2003Post Count: 18]

January 12, 2007 - 5:57 am

Dare to Dream,

Could you please show me how you came up with those figures.

thanks[inlove]

[BarbaraParticipant@barbaraJoin Date: 2003Post Count: 18]

March 29, 2006 - 4:27 am

I have all her books, and think she’s great.

That statement is very provocative.Think you need to add a bit more detail to prevent an outcry.[comp]

[BarbaraParticipant@barbaraJoin Date: 2003Post Count: 18]

March 22, 2006 - 5:57 am

Thanks Mike,

I have left things to late. But I’ve signed up for the next kick start and will wait for the next one to start.[suave3]

[BarbaraParticipant@barbaraJoin Date: 2003Post Count: 18]

March 21, 2006 - 5:53 am

Could someone please tell me what the Virtual Kick Start is?[blink]

[BarbaraParticipant@barbaraJoin Date: 2003Post Count: 18]

March 15, 2006 - 5:16 am

If you go to any bookstore you’ll find heaps of investment books, nearly everyone will have instructions on how to do a budget, just flick through a couple.

Most will tell you to take a pen and paper with you everywhere for at least a month and record every penny you spend. Then go through previous bills and record approx the next time these will be due.

There are a couple of things to start you off[exhappy]

[BarbaraParticipant@barbaraJoin Date: 2003Post Count: 18]

September 5, 2003 - 7:22 am

I plan to retire when I can earn 120,000 a year in passive income. I currently earn $38k a year (gross). 100K sounds like a lot of money to me. But as prevously meantioned its not what you earn its what you spend. I have simple tastes and 12,000 a month spending money will do my fine. But thats me, every person has different standards, so its really what you want to do with the money you earn that will decide for you.

Congratulations on your new position. have fun with it

Cheers[]

[BarbaraParticipant@barbaraJoin Date: 2003Post Count: 18]

September 5, 2003 - 6:56 am

Hi,[]

I turned 32 last week. I bought my first IP when I was 27. Purchased my second early this year. Hope to have another soon. [:X]

[BarbaraParticipant@barbaraJoin Date: 2003Post Count: 18]

August 11, 2003 - 2:53 am

Hi[]

I’ve just found this site after reading Steven’s book which i bought Wednesday. I currently have 2 negatively geared properties. After reading his book, i won’t be buying another, a light bulb has gone off in my head. Wish i’d known about positive cash flow properties before. I had worked out that it would take me at least 15years to have enough negitavely geared property before i could retire. I’ve tossed this plan out the window. Who wants to work that long when there is an easier way. Plan to now retire in 5 years.

With lots of positive cash flow property.

[BarbaraParticipant@barbaraJoin Date: 2003Post Count: 18]

August 8, 2003 - 3:41 am

Hello,

After reading the above comments, I have decided to wait before attending a meeting with the new office that has recently opened in Clayfield Qld, Is there anyone here who is a client, I would really like to hear your comments.

Barb