Total Members: 158,199

kinkso0o0o

  • kinkso0o0o replied to the topic When will you consider yourself to be “Rich”? in the forum General Property 17 years, 7 months ago

    Ahhh, the ole glass is half empty eh? [biggrin]

    In theory, there is no difference between practice and theory, in practice, there is….

  • kinkso0o0o replied to the topic To fix or not to fix, that is my question in the forum Finance 17 years, 7 months ago

    Originally posted by JamesMc:
    have always taken out PI variable
    Hi, pretty new to this, so appologies for what is probably a simple question.
    What is ‘PI variable’ as discussed?
    (Mind you, old Chinese proverb goes like “Any question with an answer is worth asking”)
    Thanks.
    James

    PI variable = Principal+Interest Loan with Variable Interest…[Read more]

  • kinkso0o0o replied to the topic Student loan or property in the forum General Property 17 years, 7 months ago

    Originally posted by zerotaxforever:
    Firstly thankyou for your advice, I really think in the situation they are in that they need the property to pay for itself as they are both in the position of not having cashflow. My Aunty has equity sitting there doing nothing and in the mean time is frightened she will not have enough to retire one day as…[Read more]

  • kinkso0o0o replied to the topic Student loan or property in the forum General Property 17 years, 7 months ago

    Originally posted by zerotaxforever:
    My 21 year old cousin has a insurance policy coming due soon to the value of $12,000. He is a uni student and needs to pay for his fees, however my Aunty and I are are suggesting that instead of it getting used up and then thats it, maybe investing it into property or other for the future. My Aunty is willing…[Read more]

  • kinkso0o0o replied to the topic When will you consider yourself to be “Rich”? in the forum General Property 17 years, 7 months ago

    Originally posted by simple:
    Rich is a specific condition when your profit is higher than your expenses.
    In other words you have “unused” funds left after all bills paid.
    On the other hand, wealthy is when your profits match your expenses….
    This is my understanding of it.

    Hmm, you can make a profit and not be rich. Im profitable…[Read more]

  • kinkso0o0o replied to the topic When will you consider yourself to be “Rich”? in the forum General Property 17 years, 7 months ago

    Yes, the journey is part of the dream, the nothaving to work is the icing on the cake for me. Theres no point living like a pauper with no friends/socialising, eating burnt toast and brains for 20 years just to retire early.

    Originally posted by Young:
    Originally posted by kinkso0o0o:

    The dream is what its all about.

    Im interperating this as…[Read more]

  • kinkso0o0o replied to the topic When will you consider yourself to be “Rich”? in the forum General Property 17 years, 7 months ago

    Yup, thats my aim Young.

    If i can wake up one day and think, stuff it, i dont need to work today, then i’ll consider myself rich.

    I choose my goals based on what i want out of life, and then work out the costs after.

    “But the majority of you will be after a numerical figure.”

    I disagree with you on that point Young, most people that ive spoken…[Read more]

  • kinkso0o0o replied to the topic LOC. ANZ Equity Loans, which one? in the forum Finance 17 years, 7 months ago

    yea, tis crazeh!

    but i guess they’re just like any other people running a business. You have your dopes and you have your knowledgable ones. It all depends who you speak to in end it seems.

    Its funny, I guess i thought banks would be different, but i guess thats just a stigma.

    Cheers,

    Damon

    In theory, there is no difference between practice…[Read more]

  • kinkso0o0o replied to the topic we want kids in the forum General Property 17 years, 7 months ago

    Hi Rayson,

    Are the IP’s positive or negative cashflow?

    600pw for own home!!!! yikes!!! 50K/year will not cut it I guarentee it!!

    Im about to have my first child (about 4 weeks away) and have just gone through the process of “can we afford to keep the IP?”

    We could easily keep the IP cos it was +CF however our PPOR costc $1800/month and we were…[Read more]

  • kinkso0o0o replied to the topic YOUNG PROPERTY INVESTORS club?? in the forum General Property 17 years, 7 months ago

    which city?

    In theory, there is no difference between practice and theory, in practice, there is….

  • kinkso0o0o replied to the topic LOC. ANZ Equity Loans, which one? in the forum Finance 17 years, 7 months ago

    Yes finally! :D

    You wouldnt believe it either, after all that.

    I emailed the branch manager today and told her what i had discovered and she replied saying casually “No worries, so shall we setup the Equity Manager then?”

    *sigh*

    As nice as pie as she is, I could have throttled her….[evil4]

    Cheers guys thanks for the hand.

    Damon

    In theory,…[Read more]

  • kinkso0o0o replied to the topic How Hard Is It To Get Finance, With No Job?? in the forum Finance 17 years, 7 months ago

    Do you have any other source of income?

    Cheers,

    Damon

    In theory, there is no difference between practice and theory, in practice, there is….

  • kinkso0o0o replied to the topic LOC. ANZ Equity Loans, which one? in the forum Finance 17 years, 7 months ago

    quick update:

    I just got off the phone to one of the breakfree guys who was very helpful to my situation.

    He set it straight and said there was no reason I couldnt go the Equity Manager loan and that there was no requirement for my salary to be deposited into the LOC.

    So, serveral ANZ conversations later I have the required result. I just need…[Read more]

  • kinkso0o0o replied to the topic LOC. ANZ Equity Loans, which one? in the forum Finance 17 years, 7 months ago

    Forgot to mention, the LOC will be used 100% for investment purposes.

    Cheers,

    Damon

    In theory, there is no difference between practice and theory, in practice, there is….

  • kinkso0o0o replied to the topic LOC. ANZ Equity Loans, which one? in the forum Finance 17 years, 7 months ago

    Hi Terry,

    Yes, this is what I thought, however am being told different by ANZ.

    Do you have a PPOR loan in your structure as well? I do, maybe that matters? As the AnZ said the Home Equity Loan would be better at keeping personal loans seperate from Investment loans. Unfortunetly i dont know cos ive never seen the product and tbh, i havent had…[Read more]

  • kinkso0o0o replied to the topic Did you create a “business plan”? in the forum No Subject 17 years, 7 months ago

    Cata is right on the money!

    When i think of a business plan tho, it seems to hard and complex. Instead I just break it all down, starting with goals. Real life goals. From there its all just project management imho.

    Start from the end and work your way back to your current position whilst breaking it down into milestones.

    Eg, I want to own a…[Read more]

  • kinkso0o0o replied to the topic To fix or not to fix, that is my question in the forum Finance 17 years, 8 months ago

    Hi elkam,

    Im on the pro package with ANZ as well. I had 2 properties revalued a week ago. Normally they would do a drive by for both but i requested a internal inspection in one (lots of renos). The other was just a driveby by my request.

    So i think its still the same if you request it.

    Cheers,

    Damon

    In theory, there is no difference between…[Read more]

  • kinkso0o0o replied to the topic Property bust not here yet … worse to come in the forum General Property 17 years, 8 months ago

    Hi James,

    Yes, positive thinking is very underrated. That said, there is positive thinking and there is foolish thinking. Positive thinking goes hands in hand with good research, go into every deal with your eyes wide open.

    In every cycle, shares or property, there is an upside and a downside. Insure your downside by fixing rates, drawing equity…[Read more]

  • kinkso0o0o replied to the topic Property bust not here yet … worse to come in the forum No Subject 17 years, 8 months ago

    Originally posted by gmh454:
    Thanks for the reply Damon appreciate your time.

    Interesting times ahead, more so I think with the economy rather than property.

    No problem gmh, its always good value to discuss these issues in an open forum where views can be challenged. It keeps us honest whether we like it or not :)

    One thing I forgot to…[Read more]

  • kinkso0o0o replied to the topic Property bust not here yet … worse to come in the forum General Property 17 years, 8 months ago

    Originally posted by gmh454:
    Damon okay, if the rise does not lead to

    increased unemployment
    decreased consumption

    then you may be right

    As to ….”investors have to pass on the increased cost” I thought supply and demand would make such a possiblity irrelevant.
    What has a landlords problems got to do with renter A and B outbidding each other…[Read more]

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