Hey thanks Terry – appreciated !!

Benny

Hi Amelie,

Sounds like you may have a DSR concern rather than an Equity one.  i.e. that the Bank may not let you take on double the loan so you can pay out the other partner.   I’d think the way to find if there is any chance is to speak with a reputable Mortgage Broker.

There are several who post on here (their signatures tell their tale), or…[Read more]

Bump – click here for the first post:-

https://www.propertyinvesting.com/topic/5031421-to-all-mortgage-brokers-and-other-advisers-too/#post-5031421

In short, if you are an adviser with a signature, DO include in your sig the details of the cities you service, and log your details in here too so that other members wanting your services can find…[Read more]

Bump – click here for the first post:-

https://www.propertyinvesting.com/topic/5031421-to-all-mortgage-brokers-and-other-advisers-too/#post-5031421

Benny

Hi Alex,

That sounds like a healthy business you have there.

Owning a small bakery business in Vic. My weekly net profit $5000 pw for our whole family after all business and family expenses.

Since this produces so much active Income, what if you made it Passive by employing others to run it?  I don’t know how many wages you’d need to pay, but…[Read more]

It has been a while since last comments, but a chance comment on TV re Switzerland and its success with Covid19 has led me to share this info.

As the whole world waits with bated breath for a vaccine for Covid19, the Swiss seem to have stumbled onto something that is worth a second look, and maybe a third and fourth too.  You likely all know the…[Read more]

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]

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]