How to make your money last as long as you do : a guide to money management and investing in positive cash-flow property

Margaret Lomas explodes the common myth that you need to be debt-free and have a high income in order to invest. How to Make Your Money Last as Long as You Do explains the pros and cons of property investment, how to put yourself in a position to be able to invest, and why and how to invest in positive cash flow property. Abstract: Margaret Lomas explodes the common myth that you need to be debt-free and have a high income in order to invest. How to Make Your Money Last as Long as You Do explains the pros and cons of property investment, how to put yourself in a position to be able to invest, and why and how to invest in positive cash flow property Content: Cover Contents Title Copyright Welcome to financial freedom Part I: Where are you now? Chapter 1: The myths Myth #1 -- be debt-free before you invest Myth #2 -- the most important feature when looking for a home loan is interest rate Myth #3 -- capital growth is the single most important feature of an investment property Myth #4 -- you need a high income to invest Myth #5 -- your family home is a financial asset Conclusion Chapter 2: Home ownership: the great Australian dream The point The good old days The present Your assets The future. Chapter 3: What kind of financial shape are you in?The point Measuring your wealth Looking at attitudes to money What type of person are you? Making the changes -- intangibles Making the changes -- tangibles Where are you? Your goals Where can you start? In summary Conclusion Part II: Before you can invest Chapter 4: Addressing debt The point The principal and interest (P & I) loan Interest-only loans Non-traditional sources of finance Lines of credit/home equity loans Other loans What should I do next? Conclusion Chapter 5: Taking control The point The power of your income. Mortgage reductionToo good to be true! Getting support Designing and using your budget A model for your budget Help with the budget Be smarter than the bank Conclusion Part III: Ready to invest Chapter 6: Buying and selling real estate The point Selling the property you own Choosing the right property to buy Auctions Bodies corporate What will it cost you? First home buyers' scheme Doing the deal Deposit bonds Conclusion Chapter 7: The different types of investment property The point Residential property Risks of residential property. What to look for when investing in residential propertyBorrowing for residential property Vacant land Rural property Risks of rural property Commercial property Risks of commercial property Retail property Risks of retail property Tourism property The risks of tourism property Proceeding with a tourism investment Property syndication Property trusts Diversification Conclusion Chapter 8: The investment process The point A few things to consider before proceeding The power of your capital The steps to investing Leveraging Safety Watch out! Loan structure when investing. A big no noConclusion Chapter 9: The truth about negative gearing The point Why property at all? Negative gearing Positive gearing Property traders Conclusion Chapter 10: Creating an income for life The point Just what is positive cash flow? An example Loss is minimised How does this compare to share investments? How many properties can I buy? Why isn't everyone doing this? How do I recognise positive cash flow property? Conclusion Part IV: The 'must knows' of investing Chapter 11: Banks and borrowing The point Getting the loan The application Your credit report.