Vic Wasteland Thread - 15.0

[Leroy Peterson]

That's what all <30 single home loaners say... They preach the work-hard-young-to-enjoy-investments-later but they all come around eventually...

(Unless they have trust funds to milk)

[joeyjoejoejuniorshabadoo]

If you have an online redraw facility then you might as well reduce interest by paying it down.

[Rekin]

Apparently I can't offset my home loan in cos I've got 3 years fixed? (well can but gotta pay like $1500 to change loan type) But I can put upto 10k a year ontop of what I'm already paying for those 3 years.. so should i just sink everything into it that I can and withdraw if I need it down the track?

I'm in 2 minds about the whole pay home loan off quick or have a life / travel, do shit, buy shit instead or maybe I just need to find a good balance.

Comes down to where you want to end up.

If you are happy with owning 1 house which can be repaid working in a comfortable job I say enjoy the extra money on what makes you happy.

If you are working hard within a job which is unsustainable, you would want to pay off home as much as you can so you can refinance to a more comfortable level in the future.

If you want to grow your property portfolio, start saving for a deposit for the next place.

[Rekin]

Although I'm not sure if property investment as an individual is worth it anymore....

With all these apartments popping up funded by developers and millionaires skewed towards negative gearing I can foresee more supply than demand for rental properties.

[admS15]

Although I'm not sure if property investment as an individual is worth it anymore....

With all these apartments popping up funded by developers and millionaires skewed towards negative gearing I can foresee more supply than demand for rental properties.

This man knows what he's on about. Not to mention once you have paid off an investment property the amount of tax the government rapes you for and paying shit like rates, insurance and water for some tenant who is happily ruining your property. The only way you're making anything is through capital gains and oh, wait there's a friggen tax for that too. Whether you pay off the loan slowly and save on tax or go the other way and pay off quick to save interest, someone is making money off you. Bank or government. Property investment is over rated. Buy a home to live in. Pay it off and then enjoy life and spending money on shit that makes you happy.

[Birds]

But it's property investment you can't lose

/genYinvestorwhowastooyoungtoremembercirca1990

[joeyjoejoejuniorshabadoo]

This man knows what he's on about. Not to mention once you have paid off an investment property the amount of tax the government rapes you for and paying shit like rates, insurance and water for some tenant who is happily ruining your property. The only way you're making anything is through capital gains and oh, wait there's a friggen tax for that too.

Incorrect...

The trust that owns the property uses the losses carried forward from the previous financial year(s) to offset the GCT event doesn't it?

[Birds]

I have enough losses from the GFC to take care of my CGT for a little while lol

[Leroy Peterson]

coz you off the streets of CPT?

[admS15]

Incorrect...

The trust that owns the property uses the losses carried forward from the previous financial year(s) to offset the GCT event doesn't it?

If there is enough losses to offset the gain then it couldn't have been such a great investment.

[Birds]

It's great if you're investing in a certain someone's expenses

[admS15]

^I like the Birds way of thinking. I'm converted:lol:

[joeyjoejoejuniorshabadoo]

If there is enough losses to offset the gain then it couldn't have been such a great investment.

no, the losses aren't real lol...

[L33SH]

If you have an online redraw facility then you might as well reduce interest by paying it down.

Exactly, just put as much money as you can into the home loan, knowing you can redraw if necessary. The quicker you pay your home loan the more money you save!!! Especially in the first few years of the loan try to put as much as you can into it, so you start paying off more principal. Well that's what I did anyway

[UNR33L]

Sounds like a plan, once I have 20k extra to redraw I'll buy a jetski!

[joeyjoejoejuniorshabadoo]

Sounds like a plan, once I have 20k extra to redraw I'll buy a jetski!

now that's thinking!

[joeyjoejoejuniorshabadoo]

Dezz's new jetski matches his shoes.... which is a pity as you don't wear shoes while jetskiing

[Leroy Peterson]

Dezz's new jetski matches his shoes.... which is a pity as you don't wear shoes while jetskiing

its not how you ride your jetski, its how you stand next to it at the petrol station. you better learn that.

[L33SH]

Dezz's new jetski matches his shoes.... which is a pity as you don't wear shoes while jetskiing

Adam wears Aqua shoes

[UNR33L]

Never been on a jetski, sure it'd be fun but I'd never use it.. barely use my motorbikes and they go on the ROAD!

On another note, what's the normal rise when getting promoted? keeping in mind it's still similar area of work etc.

Edited January 12, 2016 by UNR33L