I have played this game, and found that:
a) it’s not that fun.
b) folks tend to believe it reflects the real world when it’s view of investing is seriously distorted and flawed.
c) it costs about $250!!
d) this is not a HELP NEEDED topic…

IMHO.
Cheers, F.[cowboy2]

If your current house has appreciated dramatically in price over the past couple of years, chances are it is either fully valued or over-valued. Selling it will ‘lock in’ your gains. Given that the HPI of the last six years cannot continue into the future, I don’t see how you could lose by following this strategy. Holding an asset that is either…[Read more]

Investing OS?? what could the dangers be?
Kiwis![biggrin]

A) I wouldn’t. I’d leave and never look back.

Q) If you try to fail, but you succeed, which have you done?

Am I still eligible for the first home owner grant if I’ve decided my friend to rent my property for 4 months, and after that I will move to my property continuosly (i.e. August) ??
Providing you live in it as your “principal place of residence for a continuous period of at least 6 months, commencing within 12 months of either settlement or…[Read more]

Originally posted by li21:
What is the recommendation for the following:
a) Using more of own money for deposit, avoid mortgage insurance, lower monthly repayments
(possibly see positive rental cashflow)
More sensible, less risk.

b) Use less deposit, more banks money, larger loan and monthly repayments.
Less sensible, more risk.

Why am i always…[Read more]

I wouldn’t try to claim tax deductions from the time you moved out otherwise a FHOG audit would show that you did not live there for the requisite 6 months and the grant would have to be repaid. I’m pretty sure when you signed the application, you agreed that:
● I/we will occupy the purchased property as my/our principal place of residence for…[Read more]

Originally posted by calvin@thirty4:
Last bastion of bad debt still to go is $1500 on old C/C and $13880 on old personal loan! Both will be finalised this year to $0!!!!! Despite investing.
[thumbsupanim] for your progress!
I would suggest that your best ‘investment’ would be to get rid of those debts. You’ll be hard pressed to safely find an…[Read more]

Are they declaring the interest you pay them as income for the purpose of income tax collection?
I can’t believe you’ve left it until now to look into what are crucial issues!

Ok, time to step back & take a deep breath. SMARTMONEY is looking for a home to live in if I understand the question. What we have here are a stack of suggestions to buy in rough as guts areas where houses could be bought 18-24 months ago for under $100k! The only thing that has changed in these areas leading to price increases is speculators…[Read more]

1) The accountant will be best able to advise you.
2) Carry a tissue or two.

The link is broken.
I think this is it

Originally posted by MichaelYardney:
the article including Frankston South (a drop of 19%) an area mentioned in a number of posts in this forum.
Well, if people on this forum are buying for 19% ‘BMV’, the market value for those properties has fallen by 19% which inevitably drags down those neighbouring…

I…[Read more]

[blush2]

…providing the investment property in question was not purchased prior to June 2000 and the investor has NEVER lived in it.

What a brilliant article by Clive Hamilton! The thing I find amusing is that the very cause of rising interest rates is the irresponsible behaviour of such individuals!
Cheers, F.[cowboy2]

As I understand it, should you default on the loan repayment and the house be sold during ‘recovery action’ by a lender, the first mortgagee lender may make a claim on you personally for any shortfall between the sale price of the property and the amount outstanding, up to the priority amount.[blink]
The reason it is higher than the mortgage…[Read more]

Hi Scarlett,
Plenty of valuable UK information:
Here

Regards, F.[cowboy2]

Yes absolutely…[blink]

And my point was invalid because?

Cheers, F[cowboy2]
BTW Somebody has already ‘prospered me’, and it wasn’t ‘God’.

Hi Lady24,
A few things –
1)if
‘The house is in need of major repairs and is structurally not worth the huge costs involved in fixing it doing this – quoted at about $100,000.’
then I doubt that with moving costs, connections, purchase of new land, permits etc,
‘move the old house to a vacant block in a country area where a few upgrades such as…[Read more]

Oh golly. I find it interesting that the UK is in such a similar state to ourselves. I notice you’ve said that we may be ‘6 months ahead of the UK’ – why do we only ever hear stories in the media of flat or stagnating house prices?
Out of interest, have the Brits lost their passion for renovation / auction / developer tv shows? I notice that…[Read more]