In answer to your question about “something bigger”, I guess that remains in the lap of the gods – any major world event will always impact on Aussie. But for me, I think the home situation (above) is far more relevant right now.

Well, another year has flown by, and what a year.  And how’s the Covid19 pandemic for a “major world event”?  Didn’t…[Read more]

Hi Alan,

As Steve has shown there are many options – even too many to mention right here perhaps, but do spend some time familiarising yourself with this site, and some good books on the subject.  Also did you check the link in the welcome message I sent you (the “Big Picture” one)?  It shares a host of different thoughts on the “How to” and “…[Read more]

Thanks Principal,

Good to hear that is an option that does work – appreciate you taking the time to let us know this,

Regards,

Hi Terry,

>>> Not sure how you get that idea from my posts.

Maybe this one confused somewhat?  Worked for me….  :p

If I take the 800k and put in the redraw then take it out to buy a new property, will the full 800k be deductible?

=  No

Hi Ben,

I would think timing might be of some importance….   By that, I mean it may be better to buy the IP and THEN go and buy the other investment with the remaining cash, rather than taking the cash out first, which might impact your borrowing for the IP.   e.g. you wouldn’t want to spend $25k then find your deposit needed to be $80k.  Firs…[Read more]

Hi Norman,

Just a thought – have you found a new property manager as yet?  If you have, is it possible they might be able to provide an easier path for you?  e.g. like switching banks – don’t deal with the bank you are leaving, deal with the bank you want to go to (they want your business, so may well handle the “shift” in large part for y…[Read more]

As we start to explore the “Millionaire Next Door” along with its comments on frugality, this topic came back to me.  This describes just how expenses can also compound to cruel one’s efforts at gaining wealth.   Start back at the first post and test your guesses against the reality of compounding growth – less compounding expenses !!!!  It sho…[Read more]

Just a reminder for those wanting to meet up with others in Brisbane….  someone was asking on the webinar…..

A recent foray into Steve’s book “Millionaire” led me to a brilliant discovery.  I’d written “Gold!” in the margin of the book (it’s on page170) right by the lesson in the last two paragraphs.  Steve had said, ask for a discount if you can leave a 50% deposit when purchasing.  The beauty of such a large deposit is that finance is pretty much as…[Read more]

A recent foray into Steve’s book “Millionaire” led me to a brilliant discovery.  I’d written “Gold!” in the margin of the book (it’s on page170) right by the lesson in the last two paragraphs.  Steve had said, ask for a discount if you can leave a 50% deposit when purchasing.  The beauty of such a large deposit is that finance is pretty much as…[Read more]

A recent foray into Steve’s book “Millionaire” led me to a brilliant discovery.  I’d written “Gold!” in the margin of the book (it’s on page170) right by the lesson in the last two paragraphs.  Steve had said, ask for a discount if you can leave a 50% deposit when purchasing.  The beauty of such a large deposit is that finance is pretty much as…[Read more]

Hi Harley,

On a quick revisit of your post, I noted a bunch of things that told me you really need to chart your course before setting off on it.  You have some of the “basics” there, which is great, but missing the overall “big picture”.  This is where Steve’s offer could work so well.  Real Estate investing is a B-R-O-A-D subject – one can ge…[Read more]

Hi Vyaw,

Well, it looks like the 2.5% (add GST to that, so 2.75%) IS still the norm in Qld eh?   So that would save you $10k if you run with an agent who isn’t wanting to stiff you for 3.5% like the one you first tried.

Benny

Hi Vyaw,

Back in the day (pre-GST days – circa 1990’s) the word in Brisbane was “Add $18k to the Sale Price then take 2.5% of that total”.  The wording went something like “That is the maximum amount an RE agent can charge for a property sale”.   Naturally enough, the maximum became the norm over time.   Even though the word was “you may nego…[Read more]

Another thing that tends to be overlooked/ignored by reporting media is the relevance of the Covid death rates.  Aussie’s death rate is WAY low compared to other nations – thus we should be able to get back to business sooner.

Instead, let’s look at a nation who is currently seeing a really high death rate – the USA.  From what I’ve learned, t…[Read more]

Another thing that tends to be overlooked/ignored by reporting media is the relevance of the Covid death rates.  Aussie’s death rate is WAY low compared to other nations – thus we should be able to get back to business sooner.

Instead, let’s look at a nation who is currently seeing a really high death rate – the USA.  From what I’ve learned, t…[Read more]

Hi Steven,

Thank you – that is the bit I was missing – that makes sense to me, and now the 15 minutes sounds more reasonable.  Obviously then, the onus remains on us to keep our distance as was always the case.  The app was never going to keep us safe – more like an insurance policy that kicks in when an affected “someone” has been near us for l…[Read more]

Hi Steven,

Thank you – that is the bit I was missing – that makes sense to me, and now the “15 minutes” sounds more reasonable.  Obviously then, the onus remains on us to “keep our distance” as was always the case.  The app was never going to keep us safe – more like an insurance policy that kicks in when an affected “someone” has been near us f…[Read more]

Well, with a little more time having passed, in Qld the State Govt has begun re-introducing some activities that had been locked down.  i.e. We are now allowed to visit a beach or a park, can take a trip up to 50Km from home (rather than just “stay home” as has been the message).  Re the Rest Home that we like to visit, they are now allowing f…[Read more]

Well, with a little more time having passed, in Qld the State Govt has begun re-introducing some activities that had been locked down.  i.e. We are now allowed to visit a beach or a park, can take a trip up to 50Km from home (rather than just “stay home” as has been the message).  Re the Rest Home that we like to visit, they are now allowing f…[Read more]