Julian, I agree with Bear.

In fact, there’s a thing that Dolf de Roos does at his seminars, where he holds up a $100 note says, ‘Who will give me $50 for this?’. People put up their hands saying ‘I will’ (although not all did), and eventually one guy gets up and runs down the front, gives dolf the $50, and gets the $100.

When asked why others…[Read more]

Yay, Pinky is back! And she too has hit the double double century like Muppet.

Cheers
Mel

I went to private schools – Catholic ones, so they weren’t quite as expensive as some!!

As for which is better, I think for a bright kid who will do the work no matter what, either is good, but for one who needs some gentle ‘prodding’ MOST (definitely not all, and conversely, some public schools also) private schools provide that bit extra…[Read more]

Tim, why would you want to put it in the family names?

why don’t you just set up a trust, with yourself as trustee/director of trustee company.

You obviously have the income to borrow money, whereas your parents and brother do not seem to.

Cheers
Mel

robo

It depends on whether or not you are happy in your house, or desperately want a different one to live in.

I would stay as you are (if you are happy) and concentrate on buying IPs.

If you do think you will move in the future and rent out your current house, I would suggest you only pay the minimum off your loan, but put all money into an…[Read more]

Shirley – have sent you an email on a 2 bedroom place in Cook, Belconnen.

Cheers
Mel

Rugbyfan, from what I’ve seen/heard I don’t think Steve is big on selling places.

I think (stats from sometime in the last three months) Steve told Today Tonight/ACA/some current affairs show that he now has 160 properties, 40 of which are wrapped.

Cheers
Mel

This story has been done before – especially the Cheryl Benson saga.

Rick posted (or was it Michael) the transcript from his interview with Ben a while ago, and reading it you could guess which bits they would put to air – which they duly did.

Wrapping is not banned in WA, you just need to get a credit providers licence. Wrapping is banned in…[Read more]

Muppet, so what you’re really saying is:

Judderbars are speedhumps and
Cherios are ‘little boys’

It’d certainly be easier if you guys spoke Australian like the rest of us[]. Oh that’s right, we decided not to have you as a state didn’t we.[]

Cheers
Mel

middler, have a look at this

http://www.somersoft.com/forums/showthread.php?s=&threadid=13218&goto=nextnewest

Cheers
Mel

Hey Terry, that’s what I meant when I said using the same bank, cos I couldn’t think of another way to phrase it.[]

Cheers
Mel

Hey Westan

I now that a ‘chillibin’ is an esky, but I don’t know cherios, and what’s a judderbar?

Cheers
Mel

Leo, it’s a matter of refinancing, either with the same bank, or a different bank, depending on how you want to structure it, and who offers you the best deal.

Even if you have an LOC as you mentioned, it is at a set level when you set it up. To access more equity, you still have to go to the bank to refinance, and increase the limits.

Also,…[Read more]

Alexander, I was hoping somebody else had some advice here.

I would suggest you look at the newspapers etc. for jobs in the real estate industry, or contact some of the larger agencies direct.

As for mortgage broking, the professional magazine, (can’t remember what it’s called, but it has been mentioned on this site before) is full of ads for…[Read more]

SIS, I used tpg for dial up access, and in fact still have that account so I have my email address. It’s 9.99 a month, with an 80Mb download limit.

We ‘inherited’ Telstra broadband, so didn’t look into TPGs, but I have been told by somebody else who uses their broadband/cable/ADSL (don’t know which, or if they offer more than one) that it is…[Read more]

I see no reason why it’s a bad thing if you’ve done all your research etc.

The only thing that I would advise is to get a loan for the deposit and costs from your spare equity as a second loan, and only get 80% against the new property. This will avoid cross collateralisation, and perhaps save you from some hassles in the future.

Cheers
Mel

I would suggest to ask an accountant.

My opinion is that you will have to pay CGT – our government wouldn’t let anybody get away with that. As for the rates, I wouldn’t know, hence the accountant advice.

Cheers
Mel

chris

were they all your ‘out of pocket’ expenses, or were they inclusive of depreciation, and only the ‘taxable’ losses.

As xyzzy says, you need to look at it from a cashflow viewpoint, rather than just what the accountant says for your tax return.

Also, if they are LOCs, you could always let the ‘losses’ build up a little, using the spare…[Read more]

Tony, if you are at all thinking of renting out the house, and buying another to live in, I would suggest that instead of paying as much as you can off the loan, make minimum repayments, and have an offset account for all the extra you would put in.

This way, if you do decide to rent it and buy another one, you use the money in the offset account…[Read more]

Sue []

I think anybody who still even wishes they were young should consider themselves as young enough for the group[]

Cheers
Mel