[JpcashflowParticipant@jpcashflowJoin Date: 2007Post Count: 575]

January 3, 2013 - 3:57 am

Before I got married I asked my wife this, Kid or Shoes, She wants Shoes,

Thank god for that….

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January 3, 2013 - 12:45 am

How long is a piece of string?

Demographics are changing and they always change as well. I am a GEN Y but I live in a 50 year old home, almost paid off and on a 900 Square block, No intentions of moving.

But on the other hand most of my friends who are in the range of 26 to 28 years old are all moving to suburbs like Taylors hill in Melbourne, Blocks sizes are about 400, Bigger house and smaller blocks.

Every suburb almost (only using the west of Melbourne as an example) has a shopping centre, schools, train stations are only a small bus trip away. But are they buying or renting? A bit of both, allot of my friends have bought on the basis that this is their "dream home" and I have some friends who prefer to rent because they don't want to be committed to a loan.

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January 2, 2013 - 12:07 pm

Hi Tim 

well done to start with, my wife and I are the same age as you and by next year we will have our PPOR paid off as well.

My wife is semi retired, she lost her job 4 months ago and to be honest we are still living very comfortable, my wife is planning to only get part time work to pass the time, we also have a Bussiness that provides additional cash flow every month and I work  full time in the logistics industry. After 2 months of staying

home my wife is going crazy lol.

But on a serious note, we had a good talk and My wife said why don't you work part time as well? I said I got to this position by working hard an smart an I have no intentions of stopping, slowing down means. I'm getting old lol, every year cost of living goes up so I need to ensure that we keep growing to maintain a life style.

But on a positive note like you knowing I don't need to stress about the mortgage and that has changed my life,  I wake up every day happy and I  am even more hungrier to succeed.

This year not only will I be working in m feild, running a Bussiness  it I will also be running a logistcs course can wait!!! 

Continue to focus And as my uncle once said think a out tommorow and then you dot have to worry about today

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December 28, 2012 - 2:36 am

Just had a look at this site, Give it a few more months and the new URL will be http://www.outofbussiness.com/wewontpayyoucommision 

Richard or Jamie, I could be wrong but what concerns me is this, When you enter your information on this site, How would a individual know that their information is not being passed on to a 3rd party? Also if a person does not disclose all of their information and their loan gets rejected "etc" wouldn't that effect their score card for borrowing?

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December 27, 2012 - 10:49 am

You might get 3 k once the loan Is approved but how do you now if you loan is being set up in the best way possible?

A 3 k saving noway cost you thousands in the future 

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December 27, 2012 - 1:44 am

Hi

Firstly anything to do with a hot water system is an emergency. You employ an agent to work on you behalf  and that's what they did, honestly as well to get three quotes  to save a couple of bucks may may take a couple of days. Some times you need to do things ASAP.

try to sue or debate what will it achieve? It will cost you money, time and stress.

Since this is an ip can't you claim this as an expense?

I used to get upset when my pm did repairs but in hindsight imagine your tennent gets hurt because of the hit water system then what? 

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December 25, 2012 - 11:54 pm

Hi,

Being an ex real estate, I have seen a couple of agents act like this (lazy agents)

As the guys suggested "you should be ok"  but I have seen an agent take some one to court in a similar situation , but the agent lost the case…. Lol

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December 22, 2012 - 2:06 am

I think the most important thin is each person has there own personal econmy, recessions have always been around. But there are always opportunities 

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December 21, 2012 - 5:08 am

I oonly moved out into my first home three years ago , where very comfortable we love where we live , it's a 60 year old home with allot of character, we have almost ppaint off so no rush in moving 

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December 21, 2012 - 4:04 am

Hi, some times selling at a loss is not a bad thing,  I'm not sure how this will work in your case but maybe speak I an accountant, sunshine coast is quiet, my wife and I used to go to the coast once a year but the last couple of years it has been quiet

Plan an exit strategy 

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December 21, 2012 - 1:02 am

Hi the BIG O,

Firstly welcome and well done on your purchases.

With time being so short, I would recommend contacting the three brokers that JACM have mentioned they are all good, Sure face to face may make you feel comfortable but to be honest, you will get the right advice from these guys.

Sorry this might sound like a stupid question, Have you got a pre approval from another lender or anything like that?

Also with settlement occurring on February are you aware of the forecasted rental returns? Are they going to rent the property from day one or once they find a tenant?

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December 20, 2012 - 12:02 pm

Great advice from Jac M, also because i think it's not a good time to buy in Melbourne it does not means its not good for you.

This forum is one of the best tools you can ever have to get some great advice from some very successful people .

Talk to Richard or Jamie for some advice on loan structures to suit your needs. Also well done on your savings not many people will ever have thy amount of cash. 

Also keep your mind open there are allot of places I invest l!!!

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December 20, 2012 - 3:31 am

Interesting question:

1) Complete my CEO institute course

2) Reduce my PPOR loan from 90K  to 60K

3) Use the equity to buy another IP in OZ

4) JULY will be going to Chile to buy another IP

5) Enjoy life, holiday and reduce the DEBT of my business

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December 20, 2012 - 3:14 am

I think the Australia economy is already in a recession, I think people who do not think this are delusional.

If you look at any global economies there has been ups and downs for the last hundred years, Where in a down period, Freckle has pointed out one thing though that is very interesting, The amount of people with HOUSE HOLD DEBT is incredible.

Im a GEN Y (28 Years OLD) my debt is this: My car KIA RIO (gets me from A to at $77.00 per month on lease, House loan: $90,000.00 + two good incomes.

My of my mates 28 to 38, average mortgagee 400k+, credit card +++, personal loans+++ , Harvey norman two years interest free (two years are now up), car lease 1000+

Four mates of mine lost their jobs these two income families when into one, and they are screwed, Bills can’t get paid, etc” What worries me is this, two of the four and I sat down had a look at the numbers and it looked very worrying. The problem is that its not only 4 mates of mine going through this, A large number of the population.

To top it off the next time you go into a retail store ask the shop assistant this, Are people using cash, eftpos or credit cards Most of them would say credit card cards, The amount of people who use more then 1 credit card now is scary!!

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December 18, 2012 - 11:37 pm

Hi All,

Thank you very much, I thought this might be the case as well, but it never hurts to get an opionion.

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December 18, 2012 - 11:37 am

What is the government trying to do now? 

I heard something on the radio….

The melbourne market is very quiet , I went to two auctions in bundorra not  to far from diamond creek an there where only two other people. 

Then rental yields in Melbourne are pretty low and also there is not much  incentive, I believe the next couple of years will present some interesting opportunities. Interest rates are low and people out there are struggling, with poter, water and rates going up there will be alloy of homes on the market.

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December 17, 2012 - 12:00 am

This is a very interesting topic 

Like anything in life there are people who are negative and  positive, When someone is trying to give me advice either bad or good, I still listen and for one reason.

Use their experiences to benefit you:

People use one or two bad experiences and an excuse not to try and its easier for them to blame the whole world but not themselves.

Growing up me and my cousin (don’t talk any more) used to lock in horns over views in life, He came from a very wealthy family and I came from the opposite.

He went to a private school to become a lawyer and I went to a public school to play soccer, Where both 28 and this is where we both stand now:

HIM: the world is a hard place, The economy is making it hard to get a job as a lawyer (has not even typed a resume yet), You can’t be successful because there is too much competition “etc”

ME:  Totally the opposite, achieved allot and have done quite well out of investing (done a couple of mistakes but lesson learnt)

If you ever need inspiration I recommend you look and network with people who are successful, There are plenty of people who are very successful on this site

Just to point out something really interesting, My uncle is 62 hates the world, Its to hard for him to do anything, all this negative stuff, Then I look at a soccer manager called SIR ALEX FERGUSON, 71 years old and is the manager of one of the most biggest soccer clubs in the world, travels allot, puts allot of time into the game and so on and so on

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December 15, 2012 - 10:00 am

Lol my grandpa gave me a lesson

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December 15, 2012 - 4:45 am

Interesting topic,

I learnt to save from a young age thanks to my grandpa, I remember in 1993 (I was 8 Years old) my grandpa in Malta took me to clean a house, I remember being upset because I wanted to spend my time swimming, we end up cleaning 11 houses and what i had learnt was all 11 houses was his.

He was a brick layer, not educated and came from a very poor background….

Savings to me personally is very important, But what is more important is what i do with the money,

10% savings from your wage are you kidding me???

My goal has always been to save 30 to 40% of my wage, As cost of living goes up I look at ways at making more money, To only save 10% is a scary thought, TO me thats saying I will only invest 10% of what i earnt over a life time….

People who use the excuse that  why save money or i have no motivation to save beacuse if i earn interest the government taxes me really pisses me, We must take controll over our own lives and we must get of our bumbs and learn to invest…

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December 13, 2012 - 11:05 am

Thanks for all of your comments, Sounds like the perfect option, Invest the extra cash in the OFFSET….

We have one in CHILE already (paid off) our bank manager in CHILE has organised a finance for us all ready. We head down their in JUN 2013 to buy another IP.

My goal is to buy another one in Melbourne during the year,Maybe in Werribee not to far from Watton Street,  

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