在澳大利亚 Hi all, I currently have a PPOR and 10K cash in the bank which I plan to use as a deposit for a IP early next year. Is it possible for me to place this into my PPOR loan and then redraw the 10K when Im ready for the IP and then claim the int Hi Guys, Ive found a property that has mentioned two payments coming up of $1400 to apparently top up the admin fund and 2 have just been paid. Im looking at a financial statement (basically a balance sheet) for the strata and its all a bit
Did anyone see that article on "a current affair" last night about a serious renovator/developer in Adelaide? In 5 years this woman has supposedly created millions for herself by buying rundown properties, doing them up and selling them for a massive profit. She now has 20+ people working for her (architects, tradespeople etc) and is working on something like 400 properties this year alone (if I remember correctly). Very inspirational.
Some of the makeovers she has done were shown. They looked fantastic.
Did anyone else see this story?
Heres the link for anyone that missed it:
Thanks for the link Jamie
A quote from the:so called facts sheet
Successful investing tipsDid Cathy really say this ALL this crap or was it just tacked on by Channel Nine as a "Don't try this at home folks it's very dangerous! We recommend you be a sheep and follow the trustable advise of licensed investment advisor who will steer you clear of IP and in to a safe diversified, globally balanced generic portfolio and charge you only 4% of your cash to do it". ie. don't loose money by not making any!
According to Cathy, too often, high-pressured sales pitches and implausible promises guide the way we invest. Management of accumulated wealth is critical in preserving growing funds to cover necessities and luxuries in life such as retirement, education of children and travel.
The following tips may help you avoid losing money:
Click to expand...
- Avoid the sales pitch: beware of people who promote products rather than strategic financial advice. You should always construct a portfolio consistent with your goals rather than what's perceived as "hot".
- Set goals: establish a good financial plan, setting out personal and investment goals based on your lifestyle requirements, then determine the factors involved to achieve them. A financial adviser takes the time to look at your goals, record key facts and assess your needs before proposing an investment plan. And also consider your investment coverage, the state of your legal documents, such as wills, and debt management.
- Forecast: it's unwise to accept historical dates as a guarantee of future performance as nobody can escape general economic and investment conditions. It doesn't make sense to take advice based on the highest forecast from investments. After all, the actual outcome for a given market or investment will be the same regardless of whose forecast you listened to.
- The risk: be suspicious if you are told there is no risk because there is always risk with any investment. If a promoter or financial adviser refuses to inform you of the risks, don't make the investment!
- Diversity: you can reduce asset risk by diversifying across asset classes, fund managers and securities. Investment without diversification can be risky. Some investment services offer full diversification under one umbrella. Consider how much exposure you may already have through global share funds before rushing into the hottest industry fund.
- Look for a licence: when accepting advice, deal only with licensed financial advisers Elicensing is a screening process and provides recourse under Australian law if there is any evidence of fraud. When making investment decisions, always make a considered decision Emake sure you know the risks and don't be afraid to ask questions.
Me thinks the last bit was pasted on by Ch9 - standard disclaimer stuff.
ie Dont blame us if you tried this and failed, we told you to get advice, then it's their fault (even though as you said, they put you into funds as they get a trailing commission, unlike property.)
Glimmer of hope.....
Don't try this at home....
These days the TV stations have to protect their arses.
What if someone actually took the advice of a successful investor on ACA and then did a nosedive
Much safer to push them in the direction of managed funds where EVERYONE is taking a nosedive.
Isn't it sad that it's legally acceptable to give bad advice, but not to give good advice.
The following tips may help you avoid losing money:Click to expand...FUD, Fear Uncertainty, Doubt. Fear lost, dont go into a uncertain area edited from the orginal word "ear" , others did it but they must be special, follow the advice of others, spread your resources thinnly over a large area, only trust "professionals", never trust yourself you're too dumb, dont read books and try yourself you will fail, don't focus your resources you will make a mistake and loose it all!
All those rules you put up just keep you losing. However there is one that I liked and would probably follow;
"don't go into a uncertain ear" Yes,unknown dark waxy places full of hair, I will stay away from them.
Missed the show and reno pics, unfortunately..just read the transcript,
Hubby's been in the RE business 40 years , not exactly a disadvantage...how could she lose? along with some Ambulance
chasing techniques for picking up underpriced property which I personally find offensive (Watch for the divorce death ect)..
The fact sheet seemed to have nothing whatsoever to do with
the story though , disappointing,
Tonight Hot Auctions might be interesting, saw an ad briefly
that mentioned some people purposely disrupting the entire
auction somehow, (8pm Brisbane ch7)
ive read that certain buyers agents do this quite frequently at auctions
Those bits that have been posted up on the ACA website were definately NOT in the original TV story. Obviously put in to cover Ch 9's butt.
Yeh, I thought it was very helpful for her to have her husband's long term experience in RE. I think he might have played a much bigger role in her success than ACA chose to show. SHe's still down very well for herself though, and obviously seems like an intelligent and hard working person.
Hey Sim, or whom ever I should speak to, or however I should say this:
Should this be posted under Adding Value? (or other appropriate heading?)
Thanks to John Doe for pointing it out. I found the article interesting.