[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

June 16, 2005 - 7:05 am

hehe- yeah, we’re all so noble. [biggrin] Why is it today that I feel like it’s all about the moolah? But to make money from something one loves, is a good thing! I doubt I’d do it if I didn’t make money from it- I love cars too, but I only have one, because they are such a dud investment.

Hey Gats- when are you coming to sydney?

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

June 16, 2005 - 3:54 am

sis,

Unfortunately, my experience in what you’ve stated is different. I am in the educational field, and have seen many students do a TAFe course, in Business, for example, get advanced standing/exemptions for 1 year of uni, then go to uni and fail all their second year subjects- because Accounting (for example) is taught at a very different level at TAFE than it is in University. also, some TAFE students left school early, did not complete maths at a high level, do ok at TAFE, but really don’t manage the maths components of subjects that have the expectation that students have completed maths up to 3 unit level. Ther former TAFE student will also be sitting in with students who have done levels up to 4 Unit maths- it can be a real struggle.

I wish it were true that students could do a Diploma at TAFe and then easily adjust to second year University, but particularly for the technical subjects, the outcomes can be poor.

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

June 15, 2005 - 6:10 am

techhowse,

Most major newspapers havbe had and continue to have special PAYG Taxation sections at the moment because it’s almost tax time. Check out the money section in newspapers over the past few weeks and look up “maximise tax deductions” in google.com There’s heaps of stuff written at the moment.

It shouldn’t matter whether your accountant has IP’s or not, in my book- as long as they know the current taxation rules, that’s good enough for me (if you were a farmer, would you need your accountant to have a farm to think he or she is better able to look after your accounts?)

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

June 15, 2005 - 6:02 am

Heya Patrick- welcome here and thanks

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

June 14, 2005 - 12:03 pm

Rob said:

“In any case, parents tend to earn less as they start to approach retirement age. Your mother should be winding down and relaxing more…”

Rob, the lad is only 20- his mum might be not yet 40 (I’m 39) Don’t write her off as as a retiree yet! 40 is the new 30, after all.

Loungeact, I have no knowledge of the legality, but perhaps had you said your mum and you co-rent, and the house is in your name, it would have caused less assumptions. It sounds like you are both adults and can work out your own arrangements as to renting together. I don’t really see an ethical problem with two lower income adults living together- despite their familial ties. The legality of it is something other people will be able to determine better (like your solicitor, for example?)

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

June 14, 2005 - 11:32 am

resi,

I pasted a couple of links in the WB thread elsewhere if ya wanna take a look at a couple of (old) articles about his seminars.

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

June 14, 2005 - 10:39 am

Yep, along with others, I have a love of property- an inherited love of it (not inherited money from property- just an inherited love of property).

I also really enjoy economics, and I am a bit of a compulsive reader about demographics and trends. All in all, property interests me- academically, and practically. Also, because I am committed to social justice, I engage in ongoing self-scrutiny about how I play the property game (it’s easier to work for social justice than to buy private property, when you’re me!)

I also look forward to one day being able to have my own home- when I’m older- and until then, being satisfied about what I have now.

For me, there’s a lot of personal satisfaction in property- not just counting money… but other things too. I see investing like education- it’s an achievement, and prepares me for the future.

The motivation is not using some arbitrary figure as “success” or something- it’s just another interest- like golf, politics, or any other thing I’m passionate about. The goal is just living it.

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

June 14, 2005 - 7:12 am

bartap,

It might be better if you identify yourself a bit more. On here, most people are anonymous, but a reporter for the WSJ is a big call, so people might want to know you are who you say you are, before they give you their time.

So, who are ya? Here’s a deal for you: you tell, and I’ll google [biggrin]

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

June 14, 2005 - 7:04 am

Wayne,

I’ve been interested in Greenspan’s thoughts on IO loans, and the commentary following his words. Apparently, IO loans are relatively new to the USA, and in the past, people used to go for certain equity (pay the loan down),rather than gambling on future equity (IO loan with hopeful capital gain).

I know that IO loans in Australia have some flexibility of being able to pay additional amounts… but I reckon if Greenspan mentions IO’s specifically, then it is something for all mortgagees- in Australia as well- to be thinking about.

With the explosion of “flexible” loans, people think they have more choice… but I reckon the old vanilla P&I loan is the way to go at the end of this current boom. I know of many people who fell into an IO loan and are now wishing they hadn’t.

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

June 13, 2005 - 7:39 am

as41,

Congrats on your purchase! I reckon you’re in a good situation. You could give the FHOG back, enjoy your new rent-free home on the farm, and you now have excellent tenants on your place- which can now be your deductible IP. Would you also have to give back some stamp duty exemption for FHB’s?

Not a bad dilemma

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

June 13, 2005 - 1:21 am

abugslife,

If reading about the state of the market depresses you, then don’t read it. People were happy to read about the boom and how their IP’s were doubling, but seem to not want a reality check in 2005- go figure.

As for me, I am happy to read everything I can get my hands on about markets and economics- I like keeping abreast of what’s happening in different states and locations- it’s good to know of general trends if we want to purchase down the track- or sell up if we think a market might be peaking. For example, the WA market is still pretty healthy- how will we know that if we duck and cover from commentary on the market?

I imagine if one was in the business of stocks and shares, one would spend a lot of time reading the financial pages instead of just hoping all was well. There is nothing to fear from hearing about markets- I think knowledge is power. And it makes for working out where might be the next best place to buy into.

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

June 12, 2005 - 12:48 pm

Sorry Dazzling- the last property I bought was about 14 months ago and I’m currently paying the debt down. I can, however, tell you some yarns about the office if you like [biggrin]

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

June 12, 2005 - 4:58 am

I don’t htink foundation, or anyone else needs to document their “successes” to be able to analyse economics and discuss the state of the market- I for one, appreciate the ongoing perspectives.

Just a thought on properties doubling… perhaps an exit plan might be to SELL when a property doubles from purchase price (or increases by 60% or 120% or whatever), no matter how long that takes. A bird in the hand…

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

June 12, 2005 - 4:34 am

Grreg,

Bummer that the landlord didn’t have the manners to inform you him or herself, without the builder telling you about it- no wonder landlords have a bad name [angry2] I would have thought the landlord might have spoken to you and made you an offer of reduced rent and a conciliatory discussion to empathise with your situation.

One thought is that the landlord may want you out and this is one way of doing it? If i were you, I’d get an agreement in writing about a reduction in rent until all repairs have been carried out (it may not be done in a month, so don’t specify a time in your agreement. I guess your local Council might be able to say the house is unliveable with all the repairs to be undertaken, so that might give you some negotiation leverage… but it all does sound messy.

Unless your landlord is gonna negotiate and be fair, I’d check out other local places to rent.

Landlords can be such #!@$%- I dunno why they would threaten such a relationship with a tenant- good tenants are gold.

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

June 9, 2005 - 11:06 am

This looks like an ad to me- like most of Red’s posts. Mods?

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

June 9, 2005 - 7:21 am

A piece of string must be at least 4 inches long- or it’s a piece of thread.

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

June 9, 2005 - 7:18 am

Colin said:

“Most of my working life I have worked over 80 hrs a week and often over 100 hrs.
Today I consider myself a very small success.
I will not waste any resources I have especially the most valuable one time.”

Colin- I kind of consider working for 100 hours a week to be an … umm… waste of time. Whatever happened to a work/life balance? I imagine one would have to love their worklife very much to work 100 hours a week- either that, or they must not enjoy spending much time at home?

Not all children will follow in their parents’ footsteps- the workaholic parent might have bone lazy kids (who just wanted their parent home to play with them), or the 3rd generation welfare beneficiary might get bored of the poverty cycle and work his or her guts out. Unfortunately, whilst role-modelling generally works- we can;t create Stepford children.

Is it desirable to teach kids to work 100 hours a week? your thoughts, please As for me, 35 hours a week will do me.

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

June 8, 2005 - 8:33 am

Interesting article on bankrupts in a recent SMH:

http://smh.com.au/news/Business/ASIC-sniffs-out-bankrupts-who-keep-at-the-books/2005/05/09/1115584909522.html

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

June 8, 2005 - 4:44 am

Your parents own their own house- good for them- there’s a lot of older people who do not own their own homes. I bet they worked hard to get to that situation.

I know you want advice, Jack- but here’s some advice for your parents- Mr and Mrs Hu: “Get yourselves a good lawyer!”

kay henry

[kay henryMember@kay-henryJoin Date: 2003Post Count: 2,737]

June 8, 2005 - 4:12 am

Calm down, bruham- no need to be so personal.

kay henry