“success is the result of experience.
experience is the result of making many mistakes.”

Havent seen any commission only positions advertised. I have applied for some salary jobs with Suncorp & similar but always get knocked back due to “experience”. A paraplanning role is the stepping stone to advising but even then they want “experience”. grrr

DFA is the new, better DFP, according to SIA.
However one recruitment guy told me DFA…[Read more]

amitash

I WAS a tradesman. I moved to QLD and no longer have the nessesary licence to work in the trade. Plus I didnt do 2 years of finance study to go back to a job I hate.

I would only buy a property if I can unlock some hidden potential (develop). There are no more positive gear properties, which means creating them.

“ever since I was 12 I have wanted to be a millionaire”

as opposed to the rest of us who DONT want to be one?

“this is all I know, I have no career ambitions. All I want to do is play golf and spend time with my family and leave one big legacy to my children.”

Sounds like laziness to me. You think you are the only one who hates work? No…[Read more]

Now when I do a reno, I will live on site, so theres no rent lost, and I can always be on site for deliveries, quotes, questions etc.

I would consult with the tradesmen so a schedule could be formed, and offer bonuses to each tradesman if they still to the schedule. Have spare days incase there is a delay. You will be surprised how they all…[Read more]

Being a tradesman I have been involved in reno work for 12 years. I would imagine these TV reno’s take a month of planning before the day, and each tradesman would have so sign some sort of contract so they actually turn up on time and get the work done. HA! try doing that in reality. Most reno jobs I have been on take 4-6 months, and stuff ups…[Read more]

“when the rental property increases in value (hopefully) then I would sell and use the Capital gains to buy property under a buy + hold method”

If you sell, you lose heaps of the profit in CGT. Just get it revalued, and use the equity to buy a new place.

What are the FHOG rules?

Do you have to hold it 12 months? Or just reside in it at some…[Read more]

please tell me how you would go about doing that.

I know squat about self managed super and this sounds like a solution to our problem.

Kiyosaki is off my Xmas card list. I used to respect him till I found him promoting crappy MLM’s for cash. And I listened to one of his audio tapes and he talks down to people like they are 2 year olds.

very well done Chandara, luck only or were you advised to do that?

try a company like Wright Books, they do all the legwork, you simply hand them the text and they do the rest. You dont get much though, its like $2 a book profit. Alternative is to pay for printing yourself, and do all your own marketing, which means canvassing every bookstore in WA, and keeping them stocked. LOTS of work, but lots of money IF it…[Read more]

why do you need 20%? is that simply for M.I?

90/10 loans are easy to get.

Your IP is under contract? offer early access with rent. or is it currently tenanted?

if the criteria is non-genuine savings, get a loan from family. are you using a mortgage broker? some lenders dont care how long the employment is.
we were offered 6.11% instead of 5.95%, due to non genuine savings and short employment. not a big difference.

good luck

lol @ MLM

wot a scam!

my partner gets about 3 calls a day from network marketers who tell her she is a great saleswoman and they would like to offer her a position in their company. It seems MLM is a big thing in QLD, lots of suckers or lots of people struggling to find work?

I went to a MLM meeting bout 10 years ago, they were saying at the…[Read more]

just to show im not just a share ramping property hater

I often have this discussion with people who argue that the purpose of property investment is to acheive capital growth. Ask any investment guru, they will tell you its all about YIELD and positive gearing. The bank doesnt care about capital gains either, they care about how easily you can service the loan. If your property value jumps 20% but…[Read more]

thanks Michael

That type of thing still requires a licence, although many people do it without one. I read in the paper a while ago about a guy who ran QLD fund for 5 years, when ASIC caught up with him they simply got a court order asking him to stop. No fines, no nothing. Who says crime doesnt pay?

I dont mind exploiting a loophole or…[Read more]

you have a point there.

my view is that if someone is going to promote entry into an investment that is booming, then they have a responsibility to warn about the end of the boom and promote the exit of the investment. Unless of course it can be justified that exit is a worse option than staying put.

Now Steve could tell me to shut up and bugger…[Read more]

I wrote a lengthy post yesterday regarding this matter, but decided not to publish it. I think it would have rubbed a lot of people the wrong way. people dont like to be told negatives.

I will post it now though:

Today the RBA changed from an easing to a neutral bias. This means the interest rate trend has changed. Rates are going to go…[Read more]

some good points there HousesOnly

I agree with what you say mostly, but any investment is only as good as its income. A house is a tangible asset, but unless there is a rental income it is a liability. Shares have their own “rent” in their dividend payments. Either investment can lose its income for a long or short period. An ininsured house can…[Read more]