[voigtstrMember@voigtstrJoin Date: 2005Post Count: 176]

April 1, 2007 - 8:50 am

I'd be interested in coming to these meetings. This year my available cash is paying down consumer debt, rather than investing as such, but it would be good to hear from others about things such as good accountants, and brokers etc who would fit in with Steve's methods of wealth building.

[voigtstrMember@voigtstrJoin Date: 2005Post Count: 176]

February 3, 2007 - 4:18 am

Hi Young,
I’m possibly in the same boat as you. I bought a unit as place of permanent residence at the start of last year. For most of last year my partner and I have been saving for our wedding (which happens next weekend). After that I’ve resolved myself to paying off my consumer debt (which was costing approx 600 a month in minimum payments (not including the mortgage in that)).

Once the loans are paid I’m going to start saving again for an investment property, but I’ll probably be saving into a managed fund (possibly Navra’s blue chip fund) to accelerate saving, and further down the track I plan to use managed fund dividends to assist with any holding costs of investment properties.

I’d like to have positive cash flow properties, but I’d prefer to have capitol growth, and regularly draw down equity for more managed funds and more properties.

So right now (starting from next pay) I’m in clearing all debt except for the mortgage for where I live. Then I’ll have more cash flow for investing.

Make yourself a budget and start saving

[voigtstrMember@voigtstrJoin Date: 2005Post Count: 176]

December 3, 2006 - 12:57 pm

The book is definetly out there, I’ve got mine ordered at a book shop close to work. Was told it could take 10 days for it to come in.

Cheers
Voigtstr

[voigtstrMember@voigtstrJoin Date: 2005Post Count: 176]

September 6, 2006 - 4:57 am

Originally posted by alotti:

Thank you for the advice guys, that’s great. Tony, I like your words of wisdom, the yield is only relative to the purchase price, I will remember that!

I’m not a fan of chance, I like to sleep at night so I will stay away from Tassie for the moment.

Karl, it’s funny that you mention the corridor between Brisbane & Gold Coast as I already have 1 property there and was looking at another one yesterday. The price is $159k with a return $200 per week (-$20 body corps). Am thinkning about offerring $145k. Would that be a wise thing to do?

Alotti

what are the monthly (or fortnightly or weekly) repayments on the loan?

[voigtstrMember@voigtstrJoin Date: 2005Post Count: 176]

September 5, 2006 - 11:32 pm

Originally posted by Mortgage Hunter:

I’m currently doing the push bike thing to try and get fit.. riding 50 minutes to work on a Trek 4900 mountain bike.
[/quote]

Is it working? Your times getting better?

It varies daily based on wind direction and energy levels. But hey I’m saving on petrol and maintenance costs on the Moto Guzzi.

[voigtstrMember@voigtstrJoin Date: 2005Post Count: 176]

September 1, 2006 - 1:35 am

Originally posted by cfdavis:

Hi,
We saw a property worth $230,000 offered $220,000 cash sale, this being our first home. They came back and said it was not enough. I said don’t worry we won’t proceed.Looking at prices it seems they are going down and everything is overpriced. Should we wait till December when interest rates go up. Looking around it seems the prices should drop more.
[blink]

C.F.Davis

seems a fair thing to do. When I bought my unit it started at 178000. They then asked for 180,000.

I signed on 180,000 but said thats my walk away price, if they go higher, I’ll look elsewhere, as its not the only unit on the market…

[voigtstrMember@voigtstrJoin Date: 2005Post Count: 176]

September 1, 2006 - 1:23 am

how about http://www.ingdirect.com

[voigtstrMember@voigtstrJoin Date: 2005Post Count: 176]

September 1, 2006 - 1:00 am

replying only to the subject topic… cash flow properties are everywhere….most of them are negative

[voigtstrMember@voigtstrJoin Date: 2005Post Count: 176]

August 31, 2006 - 8:36 am

When my car was stolen (a toyota corolla bought for $2500) I chose not to replace it. I’m still paying a loan for a motorbike bought for 21800 in 2002 that is now worth about 13000. I’m paying 439.06 a month. I’m not using it as a daily commute though… if you want to save petrol money and try to get fit, consider a push bike. I bought a nice mountain bike for 1200 and cycle 50 minutes to work each day. Buy the way the bike will hopefully hold its value at some stage as its reasonably unique.. its a 2001 moto guzzi v11 le mans.

[voigtstrMember@voigtstrJoin Date: 2005Post Count: 176]

August 30, 2006 - 4:35 am

Originally posted by lstreet:

Hi everyone!

Im in abit of debt, and was wondering if anyone had a good strategy to help me get out of debt so i can get my credit rating back so i can INVEST!

lstreet

get a budget happening. Excell is a good tool to use. I get payed monthly, every month has a column of income and expenses. I leave some money in the budget for contingencies (eg partner wants to go out for dinner, unexpected bills etc). In general I know the expenses from month to month eg internet bill, phone bills, minimum loan repayments, groceries, petrol….

There are two schools of thought…

1 pay off highest interest debt first with the extra money in your budget, then the next hightest interest debt when that first one is paid off and so on. As each debt is payed off use the money you were paying off the first debt onto the next debt(this will guarantee you pay the least amount of interest for the money you put in)

2 pay off the smallest debts first, then use that money to pay off the next smallest debt… this way you see the changes quicker (but dont save quite as much money in interest)

If you have any questions about this, or would like an example spread sheet (complete with how much I spend on woodstock bourbon and cola) just pm me

[voigtstrMember@voigtstrJoin Date: 2005Post Count: 176]

August 30, 2006 - 4:10 am

hey I bought a series of motorbikes.. the last one cost $21,800 in 2002 and I’m still paying it off. Its worth 13,000 now apparantly.. “I will no longer buy depreciating assets with loans.” This should be a mantra taught at schools. If I want something now (like a shiny playstation 3)(or to pay for my wedding in Feb) I save up the cash in ING Direct.

[voigtstrMember@voigtstrJoin Date: 2005Post Count: 176]

August 30, 2006 - 3:43 am

Originally posted by DraconisV:

Today I would add to the property investors but I haven’t got enough money.hmm, why did i say today;
Becuase its my 18th birthday, yippie!!!!

Congrats! I wish I was thinking about investments when I was 18.
I’m 39 and have only just bought my first house to live in as a place of primary residence. I dont have the deposit monies together yet to look at further investing.
You are doing well, just thinking about it! [thumbsupanim]

[voigtstrMember@voigtstrJoin Date: 2005Post Count: 176]

July 25, 2006 - 4:06 am

Originally posted by voigtstr:

Originally posted by C2:

Nice bike but a little expensive for my taste. What speed have you had it up too? Why the trip to the Lamborghini factory?

Top speed so far, carrying a pillion, on the east coast of tassie was 180 km/h

re lamborghini, I’ve loved them since I was a kid, but I wont buy one until I can pay cash for one, and not have the insurance etc slow down the investing. Since I havent actually started investing yet, you could call the lamborghini factory a motivation tool!

Cheers
Simon

More stuff on the voigtstr at http://users.bigpond.net.au/voigtstr

I’m currently doing the push bike thing to try and get fit.. riding 50 minutes to work on a Trek 4900 mountain bike.

[voigtstrMember@voigtstrJoin Date: 2005Post Count: 176]

July 12, 2006 - 1:29 pm

I’ll add to crusher suggestions:

make good friends with (or marry) a real estate agent or a person who works in a real estate agents office and get access to the prices of similar houses in the location you are interested in.

And a slighty less useful answer. The market value of a house is the price for which the house sells for. (ie you dont know until its sold)

[voigtstrMember@voigtstrJoin Date: 2005Post Count: 176]

July 12, 2006 - 7:42 am

A limit? You could always go a fixed rate loan for x many years.
That would certainly limit interest rate rises.

[voigtstrMember@voigtstrJoin Date: 2005Post Count: 176]

May 30, 2006 - 12:13 pm

I would put 4k in ING (towards wedding costs next year)
the other 3 would go towards my existing (consumer) debt

[voigtstrMember@voigtstrJoin Date: 2005Post Count: 176]

March 10, 2006 - 7:02 am

Originally posted by Mortgage Hunter:

Originally posted by Mortgage Hunter:

Mate – we al lwere at that stage once.

Once you knock those debts over then start paying the same amount into your offset or redraw account. Very soon your equity will build to a point where there is a deposit just waiting for you to use.

Then you have two properties working for you plus your income. Next deposit is even easier.

I have a bit of a strategy for debt treduction – nothing startling and nothing new but if you are interested drop me an email. It is about time I got it down on paper and out to people. I am not selling anything nor do I want anything in return. Just like seeing people reduce non deductible debt.

Cheers,

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Thanks for al lthe emails – got me off my bum and just spent this morning trying to put my thoughts into coherent order. I now have a new found respect for Authors and I only wrote ten pages!!

Did it whilst listening to some great Aussie Hip Hop too [headphone]

I have emailed those that asked and will email more to anyone else. Send feedback please.

Cheers,

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

email sent

[voigtstrMember@voigtstrJoin Date: 2005Post Count: 176]

March 9, 2006 - 9:28 am

It wouldnt be fair on my partner to dump my debt onto our mortgage.

[voigtstrMember@voigtstrJoin Date: 2005Post Count: 176]

March 8, 2006 - 5:39 pm

Originally posted by Julian2:

Even my Ferarri has her little foibles. I call them character traits. Mind you, if, no matter how much time and effort I put into her, I couldn’t get her fired up I think I’d be on the lookout for a Lambo.
Julian2

Sounds a bit like my 2001 Moto Guzzi V11 Le Mans.. Italians can be high maintenance cant they…fix one thing and a fault develops somewhere else but they certainly have character. I went to the Lamboghini factory at the start of 2005, I would love to pay cash for an Espada or a Miura once I had enough passive income to justify it. (I’m still paying for the Moto Guzzi at 439 a month)

back to partners… I was keen to invest but girlfriend was keen to buy a house to live in first… so from the 22 of feb this year we have done that… the next thing for me is reducing personal debt.. eg paying down debts as quick as possible so that I would qualify for finance for IP’s

here is the link to my Lamborghini visit http://users.bigpond.net.au/voigtstr/lambovisitfeb2005/Museo.htm
here is the link to my Moto Guzzi
http://users.bigpond.net.au/voigtstr/tempbike.html

[voigtstrMember@voigtstrJoin Date: 2005Post Count: 176]

March 8, 2006 - 4:17 pm

One thought… how does one afford it unless its part of a large CF+ portfolio.. I mean, the holding costs while you wait for the demand to raise the land value… it would be ok if you could pay cash I guess.