LOE here we come
- Thread starter Dazz
- Start date
Might be time to watch a few footy games that you missed out on Dazzling!
I remember reading Qld007 'retired at 38' and then went back to work after being bored on the golf course.....so who knows.....but I may give digging holes in the ground a miss as a job next time around.
I think you have misinformed about golf, give me a yell if you want a round!
Another amazing bunch of feedback....this community is great if you like talking about property.
Grossy - I probably won't give up buying stuff....the main objective is just to slide across seats if you will. I'm tired of being the co-pilot in my life, and would very much like to take the wheel and press the eject button and get rid of the current pilot, whose constant demands interrupt my personal plans.
That's the biggy for me. My parents currently have a large portfolio of properties and shares, which amount to about 6% of what we have going, and they are retired and living life to the full. I get despondent sometimes looking how happy they are and how grumpy I sometimes get. It's that leap of course of letting go. When you've had the comfort of a salary for the last 15 years...it's hard to wean yourself off.
Cherry-pro.....look for the book, I'm determined to have it on the shelves by Xmas. I looked back and saw a thread on here in Sept '06 and I've done ring all about it since then. Time to extract the digit.
Lizzie - can't specifically remember clashing with you, although I had an early ding-dong with Rixter....but that melds into one another, as I seem to have a ding-dong with someone every other week. I'm elated that I've scared the bejesus out of you....always good to get people out of their comfort zones.
Goanna - yes, it's pretty woeful on the cashflow side of things hey....I posted the picture of the house and the outlook straight onto the riverfront. It's a special piece of dirt that is definitely earning it's keep CG wise, and thereby makes it somewhat tolerable to keep...and at the same time makes it harder to let go as the CGT continually goes up.....hence why I believe LOE may be the ideal solution.
DavidMc and James - yes the 0.25% is a very conservative number. I suppose I've had my eye on this caper ever since we hit the 2% mark. It's taken 2 more years to multiple the asset side of things by 8x, via acquisitions and natural growth, and hence it's probably time.
Richard and TG - never got into golf or football and never will. That's two past-times I'll leave to others. Used to be a ruckman and played for 12 years when I was younger, but sitting down and watching others isn't my cup of tea. I'm either in there muckin' in or I'm off doing something else. I'll leave the watching and sitting for when I need a nanna rug.
Grossy - I probably won't give up buying stuff....the main objective is just to slide across seats if you will. I'm tired of being the co-pilot in my life, and would very much like to take the wheel and press the eject button and get rid of the current pilot, whose constant demands interrupt my personal plans.
That's the biggy for me. My parents currently have a large portfolio of properties and shares, which amount to about 6% of what we have going, and they are retired and living life to the full. I get despondent sometimes looking how happy they are and how grumpy I sometimes get. It's that leap of course of letting go. When you've had the comfort of a salary for the last 15 years...it's hard to wean yourself off.
Cherry-pro.....look for the book, I'm determined to have it on the shelves by Xmas. I looked back and saw a thread on here in Sept '06 and I've done ring all about it since then. Time to extract the digit.
Lizzie - can't specifically remember clashing with you, although I had an early ding-dong with Rixter....but that melds into one another, as I seem to have a ding-dong with someone every other week. I'm elated that I've scared the bejesus out of you....always good to get people out of their comfort zones.
Goanna - yes, it's pretty woeful on the cashflow side of things hey....I posted the picture of the house and the outlook straight onto the riverfront. It's a special piece of dirt that is definitely earning it's keep CG wise, and thereby makes it somewhat tolerable to keep...and at the same time makes it harder to let go as the CGT continually goes up.....hence why I believe LOE may be the ideal solution.
DavidMc and James - yes the 0.25% is a very conservative number. I suppose I've had my eye on this caper ever since we hit the 2% mark. It's taken 2 more years to multiple the asset side of things by 8x, via acquisitions and natural growth, and hence it's probably time.
Richard and TG - never got into golf or football and never will. That's two past-times I'll leave to others. Used to be a ruckman and played for 12 years when I was younger, but sitting down and watching others isn't my cup of tea. I'm either in there muckin' in or I'm off doing something else. I'll leave the watching and sitting for when I need a nanna rug.
Well, the trouble is, the job is easy, I'm good at it, it's not that stressful, and it pays fairly decent money.
The issue is it takes me away from both the family and far more productive endeavours. A couple of years ago I was in a fly-in fly out situation and I spent my time buying scrappy warehouses and cleaning them up for rent. The money I made from doing that particular activity in my time off was over 7 times what i could as an international oilfield expat....and they get paid OK. So that was enlightening for me that one can make astronomical gains from not working as a salaried employee.
Hahahaha....already done matey.
WASP,
Your presumption is not correct.
As I stated earlier, my salary is a drop in the bucket nowadays, and henceforth nothing is available to pay down any loans. I've never paid down any loans in my whole investing career, so I'm not about to start now. If it's tax deductible...let it roll...why get rid of it.
INPUT....Rent + salary = OUTPUT....loan payments + living costs + CG.
Nothing left over, and it's been that way for the past 13 years. Whenever there has been some left over, we've gone out and bought something else to get back to equilibrium. Heaven forbid running at a profit.
The only thing we get out of the whole show is the CG. All the other CF goes to some other lucky bugger.
We learnt a few years ago you can't keep the cashflow anyway. If you do, you need to hand it to the Tax office. So we thought, why not give it to the Bank int he form of interest, and then at least we have a chance of picking up some CG. Haven't met too many folk who've made some gains by giving their cash to the ATO.
Your presumption is not correct.
As I stated earlier, my salary is a drop in the bucket nowadays, and henceforth nothing is available to pay down any loans. I've never paid down any loans in my whole investing career, so I'm not about to start now. If it's tax deductible...let it roll...why get rid of it.
INPUT....Rent + salary = OUTPUT....loan payments + living costs + CG.
Nothing left over, and it's been that way for the past 13 years. Whenever there has been some left over, we've gone out and bought something else to get back to equilibrium. Heaven forbid running at a profit.
The only thing we get out of the whole show is the CG. All the other CF goes to some other lucky bugger.
We learnt a few years ago you can't keep the cashflow anyway. If you do, you need to hand it to the Tax office. So we thought, why not give it to the Bank int he form of interest, and then at least we have a chance of picking up some CG. Haven't met too many folk who've made some gains by giving their cash to the ATO.
Hey congrats Dazz,
We've seen the commercial light as well and are focusing more in that direction.
Only difference is that we have a leaning towards construction and value adding ( old habits die hard).
When you want to add improvements to your lots of dirt, give us a bell as well love building and looking into alternative building methods ( for commercial as well as resi)
Luce, just to provide another example to show its no fluke with commercial values rising astronomically in a short space of time, the commercial site we recently purchased has increased by $$$1 mil in the last 6 months according to the selling agent, and will increase a further $$$xx mil once we have a DA in place. We're into council next week with the application for DA.
Its all in the numbers and how you crunch them.
kph
kev you are either very modest or confused, the as is escalation in vacant land rates would put it at much higher appreciation than that; and whether it is a fluke or not is a matter of much conjecture! maybe it's a case of kiss enough frogs... although maybe resi are the frogs and commercial are the... hmm
I'll go with confused.
Truth is I haven't had time to sit down and analyse it fully with everything else going on.
Anyway we already decided to go hard or go home so it seems to be paying off.
I am sure Dazz can relate to this as well.
As far as resi's being frogs.. yes as far as Perth is concerned, but its still strong in regional areas where you can poke a stick at it and still get a good CROAK! out of resi property with good gains and excellent yields.
Otherwise commercial is the focus.
Truth is I haven't had time to sit down and analyse it fully with everything else going on.
Anyway we already decided to go hard or go home so it seems to be paying off.
I am sure Dazz can relate to this as well.
As far as resi's being frogs.. yes as far as Perth is concerned, but its still strong in regional areas where you can poke a stick at it and still get a good CROAK! out of resi property with good gains and excellent yields.
Otherwise commercial is the focus.
Dazzling,
Are your banks happy with your LOE plan?
Do you think you'll need to 're-structure' loans to make it more practical?
Would you be using 'asset lending', based on your equity only, seeing as you're cash flow neutral with your investments...and what sort of LVR could you get?
I read that you could only do about 60% LVR maximum on asset lends?
Are your banks happy with your LOE plan?
Do you think you'll need to 're-structure' loans to make it more practical?
Would you be using 'asset lending', based on your equity only, seeing as you're cash flow neutral with your investments...and what sort of LVR could you get?
I read that you could only do about 60% LVR maximum on asset lends?
Congratulations Daz!
We hope to be in your position in about 15 years and will be able to retire at the grand old age of 40....
Jeez what will we do with our time if we don't have to do the 9-5 job.........We have 15 years to think about it
It's great stories like this that bring me onto this forum.
Cheers
Ems
We hope to be in your position in about 15 years and will be able to retire at the grand old age of 40....
Jeez what will we do with our time if we don't have to do the 9-5 job.........We have 15 years to think about it
It's great stories like this that bring me onto this forum.
Cheers
Ems
Correct GA.
Since deregulation of the banking industry, the competition now days provides greater options available for the consumer.
Last edited:
