It sounds as though in his book (I haven't read it) that he is referring to a "1031 exchange"? Robert Kiyosaki mentions it in his books as well.This is a mechanism in the USA whereby you can defer paying CGT indefinitely as long as you keep re-investing the gains from an investment sale into an equivalent or higher value investment – usually…[Read more]

These sort of companies are all over the place right now.They are more than likely a development company and you have been approached by the saleman.They promise you financial security through the wonders of negative gearing, and usually mention the figure of "only $50 per week " out of your pocket or something like that.You will probably be…[Read more]

Not a good time to sell there. Can you hold them for a while and wait?

I would have thought that the contractor's agreement was with the builder.Your contract would have been with the builder to do the project I'm guessing, and he then subcontracts out the work to subcontractors. He employs them – not you.It sounds as though the subcontractor may be trying his luck with you as he is having no luck with the builder.…[Read more]

You are not the evil monster; the tenant is. You are providing them with a home, taking all the risks and they are showing you no respect.Take all the action necessary to bring this person into line, and then kick them out! Just kidding.Give them a little time to make things right (not too long), and if they continue to cause problems and don't…[Read more]

It's a hard one.If you get rid of the terrific tenants to renovate and put up the rent to market value there are trade-offs.Negs:-1. You lose a great tenant and may replace them with a not so good one.2. You pay a few grand to do the renos, and will eventually will recoup the cost through increased rent and tax deductions, but you still have to…[Read more]

To answer the question in the title, I would not put any cash into any savings account, unless I had to park it somewhere temporarily until I wanted to use it for another (better) purpose. In this case it would go into an account similar to the ones you mentioned above. But it is strictly temporary and not my favoured choice.There never is a…[Read more]

Absolutely.

thecrest wrote:
The advertising expertise used to create "wants" and "must haves" in our minds has improved to a dangerous level.They sell their expertise to those who sell goods and services. Those who don't have a wealth creation plan and who continue to follow bad strategies such as buying depreciating assets with borrowed money and ignore…[Read more]

Hi cjay11,I'll do it. I'm sitting here in sunny L.A by the pool looking for something to do and love to talk property to like-minded folk. That's why I'm on this addictive forum all the time I suppose. Drop me an email with a few questions to test me out. I don't know it all or profess to, but I'm happy to help. No obligation – just friendly…

I've never used one and never will, as I like to do all my own Due Diligence and save the 5 grand or whatever they charge. Some charge by a percentage of the purchase price.I equate the cost of the B.A to how much time I would spend sourcing a property. Their charge is equivalent to about 4-5 weeks wages for an average person. I reckon I could…[Read more]

If it's not meant to be an ad; what's it meant to be??

You can't win F;it's like talking to a 'born again" – they have an answer for any logical argument, and you will go mad trying to upset them.By the way rejoice, I have many dark thoughts about severly hurting scammers, but I haven't done it and nor will I.I have many thoughts that I am Donald Trump, but I'm not him… yet.But you know what I've…[Read more]

Sounds like "try on" by the development company to me. No local Council would allow a development company to do all this without allowing the neighbors to put up any objections first.It is the same as when anyone buys a property and submits plans to Council to change the use of the property. This also applies to raw land; before you can build you…[Read more]

My 2c worth;I did a reno on our last purchase and in the bathroom we kept the hand-basin and bath with original taps and spouts, but replaced everything else.I added;1. new shutter blind ($15 approx)2. re-tiled shower/bath area ($100 approx)3. new IXL-tastic (included new wiring for this) ($200 approx)4. new floor tiles ($60 approx)5. new shower…[Read more]

I agree with Terry and S.O.G;There was study done somewhere that I read about relating to a comparison between fixing and staying with variable rates. (I think it was in one of Margaret Lomas's books).The bottom line was there wasn't a lot of difference at the end of the day for investors when compared over a number of years.After you factor in…[Read more]

We had to do it when we moved over here to L.A. It has been a successful financial move. I wished I'd done it a few years earlier.Now we have seen the light, and will be moving back to Aus next year and continuing to rent our PPoR. We will find a nice house to rent for ourselves in the neighborhood.Our plan is to rent a house for ourselves for…[Read more]

foundation wrote:
GlenR, there are two possibilities:- the 11 second rule was once useful but is now broken and will never again work.- the 11 second rule always works, but the houses you're looking at are overvalued.My vote is for the second, but I understand that many others disagree.Cheers, F. [cowboy2]

I agree F,but rather than a massive…[Read more]

So does that mean my jokes are getting better?

No worries.Here to help, tell bad jokes and generally annoy people – not in any particular order.