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      03-01-2012, 09:53 PM   #1959
RaihaX
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Quote:
Originally Posted by BBK View Post
Owning your own business is overrated... you still work for someone, it's called the ATO.
I suppose if we own a country thats a different story

we are very OT with the for sale thread now...
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      03-01-2012, 10:11 PM   #1960
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Quote:
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Owning your own business is overrated... you still work for someone, it's called the ATO.
Isn't that the truth... As I sit here in my office paying my staff wages and finalising my quarterly BAS...
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      03-01-2012, 10:24 PM   #1961
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Maybe I should become an accountant and work for the ATO, that might sort out everything? haha...
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      03-01-2012, 10:25 PM   #1962
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Quote:
Originally Posted by BBK View Post
Think I've lost more money (and not including interest!) on one property in a few years than I have on my 135i...
Richard, don't sell it and you've lost noting at all. That's the secret with property; always buy, never sell!
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      03-01-2012, 10:29 PM   #1963
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That's kind of like saying if someone steals your money it's ok as long as you don't notice...
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      03-01-2012, 10:52 PM   #1964
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Quote:
Originally Posted by BBK View Post
That's kind of like saying if someone steals your money it's ok as long as you don't notice...
Incorrecto. If you buy a property at $X and for one reason or another it is valued at < $X some time afterwards, only your assets vs liabilities change on paper. Your cash situation is actually improved after tax.

You hold the property and after time it is valued > $X, at which time your assets vs liabilities is looking good AND you can realise a cash profit should you (unwisely) decide to sell.

Unlike shares, property can never become worthless.
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      03-02-2012, 12:03 AM   #1965
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Quote:
Originally Posted by MrBlonde
Quote:
Originally Posted by BBK View Post
That's kind of like saying if someone steals your money it's ok as long as you don't notice...
Incorrecto. If you buy a property at $X and for one reason or another it is valued at &lt; $X some time afterwards, only your assets vs liabilities change on paper. Your cash situation is actually improved after tax.

You hold the property and after time it is valued &gt; $X, at which time your assets vs liabilities is looking good AND you can realise a cash profit should you (unwisely) decide to sell.

Unlike shares, property can never become worthless.
Bullshit!
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      03-02-2012, 12:06 AM   #1966
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Bullshit!
And a very cordial "Hello" to you too "Mr 34 Posts"
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      03-02-2012, 12:14 AM   #1967
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as they say, the harder you work, the luckier you get
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      03-02-2012, 12:16 AM   #1968
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Yeah I disagree Kenny, maybe for someone of your age (no offense!) that can hold true because of the times you have lived in. But for someone my age, it hasn't held true yet. Boom days are over, and are not likely to return in the same sort of fashion they did in the past.
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      03-02-2012, 12:38 AM   #1969
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Quote:
Originally Posted by BBK View Post
Yeah I disagree Kenny, maybe for someone of your age (no offense!) that can hold true because of the times you have lived in. But for someone my age, it hasn't held true yet. Boom days are over, and are not likely to return in the same sort of fashion they did in the past.
It might just be a perspective thing Richard. Property runs in boom and bust cycles but the cycles have not changed over a 10 year period since there has been property.

Speculation is when you buy property at the right time and then sell it at the right time to turn a dollar. Investment is when you build a portfolio of tax effective property and just sit and watch.

You can't really get hurt in investment, even if you overpay a little on entry and the market immediately enters a downcycle. You just wait it out and enjoy the generous tax shelter.

Not really a BMW related topic but happy to continue sidebar if you think it might benefit.
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      03-02-2012, 12:38 AM   #1970
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Quote:
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Bullshit!
How does "get fucked" sound?
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      03-02-2012, 12:48 AM   #1971
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I bought my properties around the height, but the value still holds above what I paid for. The overall holding cost after tax consideration is less than 1% and it will flicked to positive sometime soon.

However, if you found something that you are better able to use the equity, I would definitely would sell, to take the capital loss position, especially you had some capital gains in the year from something else.

If not, you better hold onto it to continue to take a negative gearing position until such a time where there is something else better.

Owning your own business is hard work and not easy. However, I would rather that than working for someone else again.
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      03-02-2012, 01:32 AM   #1972
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Quote:
Originally Posted by Zuzu View Post
Isn't that the truth... As I sit here in my office paying my staff wages and finalising my quarterly BAS...
I do hate BAS. Everytime I see the figures from the finance side, I get sad - especially after seeing them squabble like school children on TV.
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      03-02-2012, 01:33 AM   #1973
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Quote:
Originally Posted by MrBlonde
Quote:
Originally Posted by pavo335 View Post
Bullshit!
How does &quot;get fucked&quot; sound?
Well played sir !
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      03-02-2012, 01:48 AM   #1974
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Quote:
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How does "get fucked" sound?
Kenny, I have to agree..

Come and have a civilised cup of tea at Advan tomorrow morning.. will be there around 9ish..
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      03-02-2012, 02:30 AM   #1975
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hey GUYS.... great business study class guys.... i enjoyed it very much just sitting back
and just feeding off your use full knowledge... (Kenny,Joe and BBK )lol
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      03-02-2012, 02:39 AM   #1976
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Quote:
Originally Posted by Zuzu View Post
True.. I am 51 years young and have run a successful business since I was 25 and invested wisely in real estate.

Work 6 days a week and at least 12 hrs per day..my day starts at 6.30am and ends at close of business at 9.30pm..
Quote:
Originally Posted by UR25IO View Post
hey GUYS.... great business study class guys.... i enjoyed it very much just sitting back
and just feeding off your use full knowledge... (Kenny,Joe and BBK )lol
I wasnt trying to show myself up, more than that I have worked hard to achieve what ever assets I accumulated, I have worked hard for, after being in the workforce since my apprenticeship in 1975... thats it..Nothing in life comes easy..( maybe to some, but not in my case )

The unfortunate thing on these forums, is that there is such a vast difference in age groups, and we all assume way to much..

The initial poster stated that I was lucky to have 1M...

There is NO LUCK in life.. You make and shape your own destiny..

Enough of this crap, way OT for this thread, and everybody enjoy your weekend..

Last edited by Zuzu; 03-02-2012 at 02:45 AM..
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      03-02-2012, 02:54 AM   #1977
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Quote:
Originally Posted by Zuzu View Post
There is NO LUCK in life.. You make and shape your own destiny..

Enough of this crap, way OT for this thread, and everybody enjoy your weekend..
Hear Hear!!

Don't know if anyone else has noticed but the tone around here lately (not just this thread - there are a few going) has been rather narky...

One of the things I like about the Aussie forums is that we're adults most of the time...

Everyone chillax and enjoy this Dilbert Comic:

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      03-02-2012, 02:58 AM   #1978
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Quote:
Originally Posted by Zuzu View Post
There is NO LUCK in life.. You make and shape your own destiny..

Enough of this crap, way OT for this thread, and everybody enjoy your weekend..
I agree but i still think there is a bit of luck involve, sometime you just got to be at the right place and time

Long weekend woohoo !!!!
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      03-02-2012, 03:00 AM   #1979
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Long weekend woohoo !!!!
...I hate you...
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      03-02-2012, 03:45 AM   #1980
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Quote:
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I agree but i still think there is a bit of luck involve, sometime you just got to be at the right place and time

Long weekend woohoo !!!!
The right place and the right time happens all the time. It is about Carpe Diem.

Veni Vidi Vici.
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