Forum Replies Created
Hi Vinny,
Check out towns like Esperence as well. Properties above the 26 parrallel have up to four times the insurance premium due to cyclones etc.
Hamish[
]Hi all,
If you don’t already have a copy race down to your local newsagent and invest in the August edition of “Your Mortgage”.
They have done the hard work and it is a useful point of reference, at least when you meet up with your broker you will know what your talking about.For $7.95 its worth the money[
]Cheers
HamishHi again,
I guess i should just give the example of driving down the road and comming to a T section, you turn left believing it to be the road to take.That is what the book reckons. Problem is that you get down the road a bit it becomes a dead end. Now this is were our nature kicks in. We turn around and retrace our steps back to the T section and take a different route. Thats what you do right? nothing wrong with that. The path is well worn.
What do you do when you get to the next T section? If you were determined to learn from your mistakes you wouldn’t turn left again and your initial reaction would be to do the opposite, even though the cicumstances are completely different.You could end up heading in the wrong direction, but thats not initially obvious because again the path is well worn.That is why we follow even when we cant see someone in front, we can follow their road its so much easier than buiding a new one.
How many people when faced with a dead end continue on for better or worse?, how many turn back?
I don’ t know what i ate for lunch but its turned me into some candle burning, cross legged swami!!!
Have fun guys[
]I guess the toilet is the long drop variety[
]Hi all,
Being a broadacre farmer(still) who has diversified into retail and other off farm investments as a direct result of commodity prices durig the 90’s i can see how easy nature can be compared with our material world.
Humans as a group believe that we are a vastly superior race, but the longer i am involved in retail the stronger my feelings become that we are not superior in many ways at all. our similarities to a herd of cattle or a mob of sheep continues to amaze me.
We as a race are reluctant to lead and so eager to follow, even if our leader has gone mad (eg Hitler).
We can learn alot from nature as we are so reliant on it. Life in business be it investment or other relies on cycles, without cycles their would be no regeneration or strength gained or for that matter reproduction.
The more we try to distance ourselves from nature the closer we force ourselves to it.If you believe that you don’t follow others why are you here reading this message, because you want to know how others have done it, follow to an extent their path to success. There is nothing wrong with admitting this, I have.
It just reinforces how much force nature has over us, even when we are not thinking about it.Enjoy the rest of day, night(cycle) [
]Hi all,
My old chestnut.
“Knowledge can be defined as the realization that you have made the same mistake before.”You can make a mistake once and repeate it step for step at a different time and see the idea flourish. Often forces outside of our controll combine to drag us down or raise us up.
Don’t be scared to get back on the horse, take on and beat the fear of failure, there is no greater accomplishment in life.[
]Give ’em both barrells Magnum!!!
Hi all,
Just a thought if the level of debt scares you as it does me put 100% of the rental income into the repayment for the first term of the loan. obviously it will restrict other investment options but it will get the principal down to a manageable level very quickly and help you sleep at night. once your level of debt is within your critera restructure the loan and move on. owning hundreds of properties is a nice ideal but if your not comfortable being exposed to interest rate hikes etc why make yourself a nervous wreck?
There is more than one road to Rome!![]Hi all,
Interesting that steve made the decision to sell his high end.
I canremember reading in one of my books that there are only two reasons to sell any asset.
Firstly you are offered an obscene amount of money to sell well over valuation and secondly when you urgently have to reduce some debt.I would rather be in the first position, steve and dave were smart enoughto realize that you don’t have to hold all assets for ever[
]Hi all,
I agree with westan, is their room for two? I imagine if your freind showed up with all his gear, drum kit included she would consider her options. It is not about being unreasonable, offer a solution, but at the end of the day its his investment and if wants to invest in property this unfortunately wont be the last time he has issues with tennants be they 94 or 24 years of age.[]Thanks for the response and sorry to be so vague.
just some answers to your questions.To Micheal & Kaye:
$95K does not include rents from properties, that is our salary only.
$180K equity is only on our PPOR.
I did tell the bank that i was borrowing on an IP,although at the time it was a -ve proposal.
The bank did not even ask about rental income, I asked for my maximum borrowing capacity.To TerryW:
You,re right on the rental income.
We established a LOC on our PPOR loan for $60K, we have paid all bar $10K back on that, and immediate access to the balance.Thanks again for all your advice it is extremely valuable, If your in WA let me know and i’ll shout you a night out.
Cheers
Hamish[]To true Rodc, ifyour not paying tax then you are not making any real time money.
Its impossible to be an expert at every angle on property. Find your expert that you are completely happy with and reward their loyalty well.It worked for Sidney Kidman, Australias original property investor.[
]Definition of KNOWLEDGE:
Realising that you have made the same mistake before.[]
and
“If you spend too long looking in the rear vision mirror one day you will run off the road and hit a tree” early 21st century investor. [][]Hi all
Congradulations Steve on a very well written book.
I missed your show unfortunately, however I am lucky to own an A&R store and watched as the 10 copies we ordered literally ran out the door.
I grabbed the last copy and started reading as soon as I got home, finished the book around 3.30am, even followed your instruction to put the coffee on.I have been looking to negative gear and thankfully have not signed off. my agent was a little suprised yesterday when i told him to forget “those type” of properties,especially as we were so close to doing a deal.He hasn’t read this book yet but has ordered one thru me, probably to shut me up.
THE OLD PENNY HAS FINALLY DROPPED
Great book, well done[]
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