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My Plan Over The Next 10 Years Is To Buy Basically Two Properties Every Year Aussie Bubble Rules Rate Topic: -----

#1 User is offline   thecrashingisles 

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Posted 22 February 2012 - 01:46 PM

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Project engineer Emma Challands would like to be in a position to retire before 40. That doesn't necessarily mean she will - she loves her job in building and is studying for a masters in construction management to further her career - but her financial goals are clear.

''In a nutshell, my plan over the next 10 years is to buy basically two properties every year,'' she says.

She already has one investment property and is looking at buying another in the middle of next year. Emma plans to sell half her portfolio of properties as she goes, to pay off debt and use the rent as a passive income stream. You can read about her progress here mypropertyjourney.com/about/.

''I think the main reason I got interested in property was my dad does development as a bit of a hobby,'' she says.

Developing might be on the cards but for now Emma wants to know if her income-based strategy will work.

''My main focus is the western suburbs of Melbourne - still in close proximity to the city but obviously a lot lower in price,'' she says.


http://smh.domain.co...0220-1tihy.html

#2 User is offline   fluffy666 

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Posted 22 February 2012 - 03:25 PM

View Postthecrashingisles, on 22 February 2012 - 01:46 PM, said:



So.. every household in Australia will own 10 properties.

They'll all be rich!

#3 User is offline   tomandlu 

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Posted 22 February 2012 - 03:28 PM

What's the deal with selling half the properties as she goes? Why not just buy less of them? I can't work out how that benefits her in either a rising or falling market, but then I'm a bit thick...
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#4 User is offline   Tonkers 

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Posted 22 February 2012 - 03:41 PM

View Posttomandlu, on 22 February 2012 - 03:28 PM, said:

What's the deal with selling half the properties as she goes? Why not just buy less of them? I can't work out how that benefits her in either a rising or falling market, but then I'm a bit thick...


Perhaps she is thinking that she doesn't have to pay the free bank money back and will get to keep the cash from the sold properties?

#5 User is offline   billybong 

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Posted 22 February 2012 - 03:45 PM

Maybe to minimise/avoid capital gains?? In the UK I think you can buy/move to a new home and providing you sell your old home within 2 years? you don't pay capital gains - or at least it used to be something like that.

So if she's buying 2 properties per year and selling 2 properties per year then over the years she'll always have one home and one "investment property"? In a falling market the idea seems chock full of risks and then there's all the fees.

This post has been edited by billybong: 22 February 2012 - 03:48 PM


#6 User is offline   Nationalist 

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Posted 22 February 2012 - 04:00 PM

How nice for her tenants that she's already planning to sell from under them... :(

#7 User is offline   Bloo Loo 

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Posted 22 February 2012 - 04:21 PM

View PostNationalist, on 22 February 2012 - 04:00 PM, said:

How nice for her tenants that she's already planning to sell from under them... :(


how ill she sell if everyone else is buying up and getting in on it?...she be selling up her ticket for the last boat to leave the harbour...and she certainly wouldnt want to miss the boat.
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#8 User is offline   Bloo Loo 

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Posted 22 February 2012 - 04:22 PM

View Postfluffy666, on 22 February 2012 - 03:25 PM, said:

So.. every household in Australia will own 10 properties.

They'll all be rich!


Australia is an upside down world.
WARNING

Your
country is at risk
if you
do not keep up repayments
on a gilt or other loan secured on it





#9 User is online   7 Year Itch 

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Posted 22 February 2012 - 04:34 PM

View Postthecrashingisles, on 22 February 2012 - 01:46 PM, said:

Project engineer...


That's where I stopped reading. What is it with project engineers? I've met so many I wouldn't trust to tie thier shoelaces let alone let them loose on an engineering project.

 JustYield, on 30 September 2006 - 02:00 PM, said:



 padington, on 02 December 2013 - 08:53 AM, said:

No need to sell up, the next phase of the economics cycle is going to be very positive for anyone that owns property.

All I'm sayings is, don't listen to the property bears people, they are wrong.

#10 User is offline   Si1 

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Posted 22 February 2012 - 04:41 PM

View PostSeeYouNextTuesday, on 22 February 2012 - 04:34 PM, said:

That's where I stopped reading. What is it with project engineers? I've met so many I wouldn't trust to tie thier shoelaces let alone let them loose on an engineering project.


all middle management layers seem to be about the same, irrespective of industry or sector

#11 User is offline   blackgoose 

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Posted 22 February 2012 - 04:47 PM

View Posttomandlu, on 22 February 2012 - 03:28 PM, said:

What's the deal with selling half the properties as she goes? Why not just buy less of them? I can't work out how that benefits her in either a rising or falling market, but then I'm a bit thick...



She wants to buy 2 a year and sell 1 a year. As she will be such a canny investor and skilful developer she will be able to make money by buying houses that some people dont want. All she will have to to is buy one at an auction, give it a lick of paint and then the suckers will be lining up to buy or rent!

#12 User is online   zugzwang 

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Posted 22 February 2012 - 05:01 PM

It only works if Benny, Mervo, 'Chairman Who' et al. can exponentially leverage the debt-carrying capacity of the ChiCom economy.

Without the communists Australia is a dying, waterless skid-mark 5,000 miles from civilisation.


Aussies should take the Union Jack off their flag and put a big yellow ring on there instead.
It's not a recovery, it's a relapse.

Welcome to Bluffdale (population approx. 7,000,000,000) - where even a windswept leaf has too much freedom.





#13 User is online   Democorruptcy 

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Posted 22 February 2012 - 06:09 PM

Why doesn't she buy four a year and sell two?

It would double her passive income.
Democorruptcy
If you say "Democorruptcy" quickly, it sounds a bit like "Democracy". In a "Democracy" people vote for politicians who represent their interests. In the UK's "Democorruptcy" people can only vote for expense fiddling thieving MPs who are in the hip pocket of big business and the finance sector.

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The Funding for Lending Scheme (FLS) is stealing from savers to make them pay for crimes by bankers. Via lower interest on savings, all the bank fines for PPI, LIBOR and interest rates swaps are now being paid by savers so that bankers can keep pocketing bonuses.

"We need to make a really big change: from an economy built on debt to an economy built on savings" - David Camoron Jan 2009
"Printing money is the last resort of desperate governments when all other policies have failed" - George Osborne Jan 2009
- So what do Camoron & Osborne do? Print money and leave interest rates at 0.5% when inflation is over 5%

If it is asserted that civilization is a real advance in the condition of man -- and I think that it is, though only the wise improve their advantages -- it must be shown that it has produced better dwellings without making them more costly; and the cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run.
http://classiclit.ab...en-Part-2_4.htm

I want to tell you my secret now.... I see debt people

#14 User is offline   RufflesTheGuineaPig 

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Posted 22 February 2012 - 06:31 PM

View Posttomandlu, on 22 February 2012 - 03:28 PM, said:

What's the deal with selling half the properties as she goes? Why not just buy less of them? I can't work out how that benefits her in either a rising or falling market, but then I'm a bit thick...

20 year mortgages. Sell half at the end of 10 years and use equity from those to pay off outstanding mortgages, leaving the other half that she kept free and clear of debt.

It works provided prices and rent dont drop and interest rates stay low.
It's time to pay the piper. There is no magician who will magic away the debt. Someone is going to have to pay it. Bend over and prepare to make payment.

In this glorious nation of ours, if you work hard and keep your head down for 25 years then you too can aspire to own one-eighth of a one bedroom flat in Manchester.


My mum and day always tell me how important it is to save to buy a house. They should know, it took them nearly 6 months to save for theirs. As teenagers, they bought a 3 bed semi.

#15 User is offline   frederico 

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Posted 22 February 2012 - 06:48 PM

just as well nobody else had this idea
Latest news, 5000 jobs to be created transferred to ASDA, the new high tech, knowledge based economy is powering ahead.

McDonald's says it will create 2,500 new jobs across the UK this year, taking its workforce to 90,000

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