Bugger!![!][xx(] Thanks Terry, that is what I thought, but with all the general – you pay tax at your marginal rate ie. if you earn 30K you pay tax at 30% doesn’t leave room for the ‘bracket creep’.

Cheers
Mel

quote:You can find mortgage defaulters, but it’s a pretty cruel thing to do. There are so many properties on the market these days that you can find *very* cheap property still without preying on other people’s misery.

You still have to sleep at night. Looking for mortgagee sales is like hoping your neighbour’s business will go broke so you can…

[Read more]

Wow Fields

You are fairly not positive. Why do people always forget that rents go up too? You say rentals are beginning to decline. Is that in actual dollar terms, or in % of purchase price?

Steve pays P&I, therefore his loans are reducing, therefore his interest is reducing, therefore there is more profit to him each week. He’s written a…[Read more]

I think that even paying cash for the entire purchase does make the property positively geared, but it does not make the property fit the 11 second solution. Fundamental difference!!

11 ss = Rent/2 * 1000 = Property Price
Positive Gearing = Income-Expenses=%+++
Negative Gearing = Income-Expenses=$—

Cheers
Mel

Brilliant

There are a couple of other discussions on this topice, they might help. Picja suggests the costs per year etc.

I was told that if you could make more return on your funds than it costs in admin fees, then do it. We set one up with only $30,000. We cannot buy property as you cannot borrow using the super fund (well, you can, but the…[Read more]

Thanks Huey. I can definitely trust you to check Paul out for me!!

I can teach you to drive – I have much patience.[] Can’t teach you to dance though. Not that good mineself.[]

Cheers
Mel

Hi Simon

I was hoping that the QSs would suggest something like that, but I have not had any ‘old’ properties purchased for a while.

We certainly do make a good team.[]

Cheers
Mel

milen007

As a ‘gross generalisation’ when interest rates fall (as they have in the last few years) it makes property more affordable. It has also helped to fuel this boom with people buying more expensive houses than perhaps they should have (purely because of low interest rates making payments less), and combined with the FHOG, a lot more…[Read more]

LuckyPhil LOL[]

Paul ROTFLMAO[][]

Couldn’t have said it better myself.

Cheers
Mel

Del, same advice for you. I believe you can backdate for up to about 4 years if you have done it in that timeframe.

Cheers
Mel

Hey fullout

You might be surprised how much a QS can come up with even on an old place. For a start, you’ve got carpets, curtains, hot water etc.

Might be an idea to give a good one a call, and just ask them if they think it is worthwhile. If they’re good, they won’t say yes just to get your business cos they’re busy already.

Cheers
Mel

Daniel

That’s how the 11 second rule works out the purchase price. It’s a filter that allows you to determine whether or not a property has a high likelihood of being cash positive.

Rent/2 * 1000

In this case the rent was 1430.

So to get purchase price
1430/2 = 715 * 1000 = $715K.

At $715K, the property will be returning 10.4%. Should be…[Read more]

There will be others who can tell you the exact legislation, but it is by law that you cannot refinance, as you have sold it. Your loan must always remain less than the wrappee’s too.

Cheers
Mel

Wow muppet – you are a freecell god (but I think you need to get out more[]) What’s the file in xp? I better do it for dad again cos he still plays.

I found spider solitaire in XP, so play that now.

Cheers
Mel

I’m guessing boy. I have no idea when it’s due, so this one’s a bit harder.

8pm Tuesday 28th (Monday is 27th Del).

Cheers
Mel

What do we get if we’re right?

As long as she was the backup, and not me, that’s ok.[^]

We can enter into further discussions!![]

I think your idea of many houses all round the place to live sounds feasible. How interested are you in learning to be a pilot? With my eyesight, it’s probably not an option[!][xx(]. BUT, I think a helicopter or jet plane is a must!![]

Cheers
Mel

Guys, a hint: the settlement date is for April First.

Cheers
Mel

yes milen007. Exactly the same concept. Some of the same deals even.

You can play against up to 4 computer players, or against 4 humans, or a combination.

You can also go online and play others around the world. I think you have to register at richdad.com for that though, and pay some $$$

Cheers
Mel

Huey, are you serious about being sued by your ‘prospective’ buyer? That’s unreal!! How can they hope to win that?

As for Arty and Pinky and Amit – we should ban the lot of them. I’ve learnt more about rats than I ever thought I would!!!

I’ve had a marriage proposal[], but then I saw Paul wants to marry Delta, so I guess I’m out of luck there…[Read more]

Aha, sneaky Bill. I see he changed his email address from that which was originally there!!

Cheers
Mel