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Aceyducey
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@aceyducey
Join Date: 2003
Post Count: 651
May 6, 2004 - 2:27 pm
wrappack,
Nice story!
Personally I prefer the human sign approach.
You write on the sign “Want to sell a dead person’s house real cheap? I want to buy from YOU!” and walk around cemetaries looking for funeral parties.
You get plenty of attention & don’t have to pick up a phone.
Cheers,
Aceyducey
PS: Funnily enough I’ve found that it’s the live vendors who are more prepared to negotiate a good price than the dead ones.
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
May 6, 2004 - 2:24 pm
Dfox,
Try Nick at http://www.strategicwealth.com.au/
He’s used by many investors.
Cheers,
Aceyducey
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
May 6, 2004 - 2:20 pm
If the gearing can be sustained, (b) is far and away the best option.
Negative gearing has it’s place
Cheers,
Aceyducey
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
May 6, 2004 - 10:51 am
Originally posted by Marc1:
Tell me (if you want), what would your 3 wishes to the magic lamp Genie be?
No idea – I keep getting what I wish for….
Cheers,
Aceyducey
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
May 6, 2004 - 10:45 am
Originally posted by HHH:
Good work Acey!
Not my work – it involved networking with moderators of two forums & the support of couple of other investors – I just provide the loud mouth
Cheers,
Aceyducey
Aceyducey
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@aceyducey
Join Date: 2003
Post Count: 651
May 6, 2004 - 8:01 am
Luke,
I’m an investor & I recommend Rolf Latham (www.asapfinancial.com.au).
Hi is an extremely experienced brokers who work for a large number of property investors already.
Cheers,
Aceyducey
Aceyducey
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@aceyducey
Join Date: 2003
Post Count: 651
May 6, 2004 - 7:58 am
Buy it personally & rent it to the club….
Then rent it to other clubs as well as a club-friendly venue.
If you do the figures you may find it becomes a nice cash cow…and if it wouldn’t – you’re better off renting!
Cheers,
Aceyducey
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
May 6, 2004 - 3:25 am
Bid,
Firstly, Trusts are not purely for tax advantages – there are many risk minimisation rationales for their use as well.
Secondly there are other varieties of Trusts beyond discretionary. You need to look beyond that type.
Finally, think about it this way – you’re not going to stop accumulating assets are you?
Will a Trust be more valuable to you when you have 5 properties? 10? 20? 50?
Not if you don’t have it in place now!
Cheers,
Aceyducey
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
May 6, 2004 - 2:03 am
Originally posted by aussierogue:
acey i read your thread and your last comments on that thread. have you ever thought of investing in productive assets rather than just property??
Aussierogue,
I do & was doing so long before I was involved with property.
Have run companies with up to 50 employees/contractors.
But I also consider providing jobs for Real Estate Agents, Property Managers, Accountants, Solicitors, Conveyancers, Tradespeople & housing for tenants via property investing is quite valuable as well.
Look at the ratio between the number of employees, the number of customers, the number of shareholders, the contributions to other companies (via purchasing stuff) and the amount given back to the community in various ways by a company.
Employment is rarely the primary benefit.
Investing in property pushes the dollars in just as many directions, hence I do not regard one type of asset for investing as more ethical than another.
Cheers,
Aceyducey
Cheers,
Aceyducey
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
May 6, 2004 - 12:24 am
Motivstorm,
The appointer only appoints the first Trustee – who then controls what happens in the Trust. So it’s not that important. We tend to not be the appointer in our vehicles.
As for the ability to change Trustees & no claim be made on the new Trustee & trust, well that’s actually not quite true – there are some good threads on Somersoft about it (do we have any Trust legal experts here who can comment about it in depth?).
However it’s not entirely about removing risk – it’s about minimising it to acceptable levels.
If an acceptable level for you is to be the trustee yourself – go for it!
Cheers,
Aceyducey
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
May 6, 2004 - 12:19 am
Zimonya,
Firstly – what information do you want to get?
You may find that there are other avenues to explore as well.
Can’t comment on Wealth Guardian – i don’t know what it contains.
However the other two products are certainly very good – whether they are appropriate for your needs I can’t comment.
Cheers,
Aceyducey
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
May 6, 2004 - 12:17 am
Once you have had an offer accepted – whether it be an exchange of contracts or some other mechanism whereby your sale has gone unconditional, you now have a legal interest in that property.
Protect yourself (minimise another risk) by taking out the insurance. A cover note is all you need.
Cheers,
Aceyducey
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
May 6, 2004 - 12:12 am
Marc1,
I’m not religious, however in my view attempting to take credit for what your god does – even in jest – is in VERY POOR taste.
I suggest you spend more time meditating on your relationship with your god and less time pushing unwanted religious commentary onto people who don’t care about your beliefs.
And MY god says so too! [biggrin]
Cheers,
Aceyducey
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
May 6, 2004 - 12:09 am
I have no desire for money whatsoever.
I don’t have a lot of desire for most of the things money buy either – flash cars, waterfront mansions, $10,000 dinners, $10,000 watches, etc.
However I do enjoy the game, the capacity to choose (it’s nice to be in the position to choose to NOT buy a flash car) & the ability to give back.
There’s been a topic on the subject going on at Renos. The thread is: http://www.renos.com.au/forum/viewtopic.php?id=110
Cheers,
Aceyducey
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
May 5, 2004 - 9:31 am
I think there are many people who have no idea what they’d do with $30M
Hopefully people in this forum are thinking about it & planning for when they have it.
Cheers,
Aceyducey
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
May 5, 2004 - 8:44 am
Trust Magic
Cheers,
Aceyducey
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
May 5, 2004 - 8:42 am
I hadn’t realised that PI had been renamed….
Ahh – SPAM.
Cheers,
Aceyducey
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
May 5, 2004 - 7:25 am
Originally posted by Nat R:
acey: it doesn’t matter if you put 0% deposit in or 20% deposit in and the value goes down you still have less equity in that house to borrow off…so why put any deposit in?
Have I missed something?
Yes
Cheers,
Aceyducey
Aceyducey
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@aceyducey
Join Date: 2003
Post Count: 651
May 5, 2004 - 7:18 am
I’d say that the best person to ask is the relevant government department.
Cheers,
Aceyducey
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
May 5, 2004 - 7:12 am
fjficm,
There’s a similar thread active on this forum right now, so you’re not alone with this dilemma.
You’ll be paying Stamp Duty costs at minimum to transfer to a Trust, plus likely loan fees plus more.
Frankly I reckon you’re best off holding these properties in your own name and simply buying future properties through a trust structure.
Cheers,
Aceyducey