notpom

Why Ferrari and Lamborghini never advertise on TV?

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    Because people who buy them never sit around watching silly ads.

     

    http://www.news.com.au/finance/real-estate/buying/apprentice-to-expert-andrew-morello-has-nine-properties-and-counting-at-just-29/news-story/03584b3c335cad5f1bb0cefb00bb0a6b

     

    Nine properties by the age of 29 - it is not a bad achievement.

     

    I personally know people who were kicked out of year 8 ("for a good reason" they say) whose portfolio was substantially larger.

     

    One comment I would take a liberty to make - it looks like the list of 11 tips (how to get started) was made shorter than it was originally. As always by removing useful advice.

     

    Main piece that is missing "Find out how to borrow the deposit". Saving deposit is a waste of money. While you save, property becomes more expensive and you lose a lot of money as a result.

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    Saving for the deposit is the bugbear for many people trying to enter the property market.

    Combine the deposit with what you have to pay in stamp duty and it's just out of reach for so many first time home buyers.

     

    How did they get away with taking away the first time home buyers allowance for established homes? I know that you still get an allowance for purchasing a new build (to stimulate building industry?) but the removal of the first time home buyers allowance for existing homes seems like robbery.

     

    They introduced the subsidy for first time home buyers when sales tax was introduced so that it offset the tax that would now have to be paid on a property purchase...to take it away and not have any tax relief for stamp duty seems dishonest (typical of government?).

     

    I have three young adults who all want to purchase homes. The deposit and stamp duty is preventing them from doing so even though purchasing will be cheaper than renting.

     

    I personally would like to see the first time subsidy reinstated for the purchase of existing homes....

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