yep I did it….
I think part of hte problem that challenges us is that most young couples want to live in thier dream home from day one….. instead on using it as a stepping stone. We are living in the have it all now society as the average Aussie dept expenditure rate goes over the 105% average…. this shows how most get sucked into the…[Read more]

Sounds good to me …. only thing is the bank will not release theother 20% that I would have normatlly been able to reinvest into the market…. does not sound much unless the 20% is on a 400K property.
Cheers
Kiwi[]

Hi Fullout!

I am not a fencer but am very logical and have done a lot of renovations and things so logic prevails…

Heres a good exercise to give you an indication of your costs: – should take you around an hour to do this…. but will give you some good bargaining power if you are getting rip off merchants quoting you.

Go to Bunnings and…[Read more]

Hi Ben,

All I can suggest is that if you are about to change into anything …. read the terms and conditions over and over until they make abolute sense. I often go through all the contracts with a pencil and mark anything that confuses me due to ambiguity or poor definition and then go over it with a fine tooth comb (move to and fro when they…[Read more]

Hi Cornel,
I have to agree with Property Guru…. I have set up ad trust and a company as trustee…. this has set my future in stone and although it cost me a pretty penny …. I see it as my insurance policy that will secure my future. – end of the day … it all comes down to your own values and priorities.
Cheers
Kiwi[:o)]

Personally I love the idea of any gender getting into the property wealth scene. I have plenty of female friends that are actively wrapping or doing rental properties and have one good friend that I was talking to the other day and she said to me that if she had 20/20 vision she would have asked me more about how I had set my trust and company up…[Read more]

Well there is always the human factor … as it is effectively a large drawable credit card and it tale a lot of discipline (personal Experience) to make sure you are not taking out hte profits all the time… this is because it is so easy to access the finds.
So take caution …. but the good old LOC does work …but the end solution is to pay…[Read more]

Hi There …. If you have only given verbal offer and all has been accepted then …. this is not binding at all. you can walk away if you choose. I would let hte RE know that you have issues on the property and have adjusted the pricing to cover your costs…… depending on how much the vendoer wants to sell you can try many techniques to get…[Read more]

The 11 Sec rule …. is more designed for Rental opportunities … however it does give you food for thought when you can see other options that may increase your chances of getting to this formula. I must admit I have found dozens of properties that have met this rule…. but either the towns were to small(my threshold) or the vacancy rate were…[Read more]

Hi Bear,

I can appreciate you coming across issues and challenges. It is always hard to build a team of people to work with to movie forward in this life…. however I think that some people get what they deserve ….. there is more than enough riches out there for all of us and if you screw one another over …then you will get what your give……[Read more]

I love stories like that …. I have sent out over 2000 flyers to see what response I get from the local community … I will use the bad news to paint a picture that may get me into some interesting opportunities… nothing like a fast sale to beat the crash!

Besides … the press have one job to do …. and that is not to give the news in its…[Read more]

I am a kiwi…… but living in Aussie at the moment.
Cheers,
Kiwi

You could always try to wrap it.
then you would get some real return out of it:
Perhaps this will look better if I explain (or NOT)
You Buy say $60K
Your costs $15K – inc closing costs
Mortgage = 45K
Interest (P&I) @ 7.5%
Payments: = $76.75/week
rates and Water = $10/week
Total = $86.75/ week

You Resell @ 72K
Deposit = 10K
Total owing: 62K
Int…[Read more]

If you are seriously looking for information to aggresively decrease your debt …. try
http://www.johnburley.com/free_downloads.html
Worked for me!!!!
Cheers,
Kiwi [:o)]

Thanks all I appreciate it!
If anybody else has any imput …. would be much appreciated.
Thanks
Kiwi

Hi all,
Thanks for the feedback,

I have read all of RK books even Success stories!
I am getting there so we will all celebrate soon when I get my first IP!

Just trying to get some funds access ….while trying to get my finances in better shape so the banks will smile upon me [^]
Cheers,
Kiwi

Hi all,

Thanks for the multi responses, I do actually have a Hybrid trust set up which is much more flexable than bot a unit trust and a discretionary trust.
Who do I talk to about getting access to the super funds to invest in the trust? – I have no problem putting another property up for security as long as I can buy this security out…[Read more]

Hi There,

I am not sure if this helps but …. I would not be too concerned about CGT unless you are selling for some reason. I would be better thinking of the 3 IP’s as the “Funding engine house” – unless they are seriously -Tve Geared – to all future properties by cashing in on the equity of them all and getting maximum leverage to repurchase…[Read more]

Thanks Terry… I will check it out.

Hi Guys and Gals….. I looked into the site a few weeks ago… and as Rich Dad’s Robert Kiyosaki says -Don’t critisize – anylise.
I checked out a few of the houses and properties and the numbers just did not crunch upto what they were cracked up to be. – I use PIA to do the work for me and it saves me hours of number crunching – also practice…[Read more]