Forum Replies Created
- Originally posted by depreciator:
Like tax agents and accountants, most Quantity Surveyors welcome the clarity of the new gudelines. Whenever the ATO make some grey areas a bit more black and white it makes everybody’s job a bit easier.
DOesn’t it also mean more work – for anyone who needs to come back to have a revised survey….and for people who were unaware that they could claim depreciation
Cheers,
Aceyducey
Guys,
Bear in mind that I’m criticising the tactic, not the person or the book.
I’m happy to accept that this was a simple mistake by an author who wanted feedback on her work.
I understand the desire for this feedback. If you take a look at my site you’ll see my partner & I have had a number of books published ourselve – none property related at this stage
This is one of several reasons I felt so strongly that Investorgirl’s approach was wrong in the first place
Don’t confuse a single mistake with the value of the content of the work.
There’s a lot of negatives floating about on many authors, such as Robert Kiyosaki and others who have written on investing – as you can find here (http://www.johntreed.com/Reedgururating.html).
This doesn’t mean that the books won’t be valuable to you and provide you with the strategies, ideas or kick you need to get out there & do what it takes to become successful.
The feedback I’ve had on Investorgirl’s book is that it’s excellent.
I’ll certainly be looking for it next time I’m in a bookstore & deciding based on its own merits whether it’s appropriate for my (or a friends’) library.
Cheers,
Aceyducey
I would NEVER go to a seminar run by someone who runs seminars for a living….
The presenter’s priorities and focus are not aligned with my own as an investor.
I’d go to a seminar to learn to be a better presenter however
Cheers,
Aceyducey
Inc ases where depreciation is used to make a negatively geared property increase your take home cash the correct term is Positve Cashflow NOT Positive Gearing.
Keep in mind that negative gearing is a viable stragety so long as you have the income to negatively gear.
Each negatively geared property reduces your ability to securitise the next…with positive gearing each property INCREASES your serviceability – thus you can borrow increasing amounts.
If you build a large negatively geared property & choose to retire you are in a situation where you lose the tax benefits & need a substantial amount of income – or to sell right down – to retire comfortable.
If your portfolio is positively geared you don’t have the same issue.
The aim with negative gearing is to realise higher CG than may be achievable with positively geared property…this is one of those ‘rules’ that doesn’t always apply
Best target is to have negatively geared properties turn positively geared over time…by paying down debt or due to normal rental growth or by improving/repurposing the property.
Always keep in mind that negative gearing is a short-term tactic NOT a long-term strategy.
Cheers,
Aceyducey
Money doesn’t buy happiness – but it’s sure nicer to be rich & miserable than poor and miserable!
I retired a few years ago now & haven’t looked back.
Though there was some kicking & screaming at the start – beware…work is addictive, going cold turkey can be tough
Remember, if you work until you’re 65 & retire with nothing at least you have certainty!
Getting out of your own comfort zone is often the most important step towards success & happiness.
Time is more valuable than money.
Money is easy to get hold of, but no-one, no matter how rich, has more than 24 hours in a day.
Cheers,
Aceyducey
Ret,
I use Rolf Latham.
He is a property investor himself & his client list reads like the who’s who of successful investors (not that I’ve seen his client list, but I know a number of his other clients personally).
He doesn’t self-promote – he doesn’t need to
You can find him at http://www.asapfinancial.com.au
Cheers,
Aceyducey
Originally posted by _se7en_:Then he closes the auction as no one has registered.
That’s happening more often with the new auction laws & shift in market sentiment to a buyers’ market
It should mean that we see a drop in the number of auctions as REAs and vendors realise that auctions are only useful in situations where there is high demand for a specific property.
Maybe it will make certain REAs work harder on their clients’ behalf.
Cheers,
Aceyducey
You can play Monopoly online now, and there are several Australian versions of Monopoly already out including AFL & Melbourne versions
It is possible to go on UK pub crawls around the Monopoly board & I’ve heard of one seriously rich Monopoly fanatic who bought property in most of the streets represented on the original Monopoly board.
I like the PDA version of Monopoly (on Psion)
Cheers,
Aceyducey
Falcon,
The answer is in the meaning of De Facto – which means ‘in fact’.
Marriage as a registered civil union is a relatively new phenomenon. Go back before governments were so hot on keeping records about everything & you’ll find that any couple who chose to live together was basically considered to be married.
World has moved full circle and as a de facto couple you are pretty much treated the same as a married couple these days.
Melbear is correct that the assets you bring to the relationship are not automatically considered as jointly owned, however if you & your girlfriend separated, a claim by either of you may extend to a proportion of these assets which were considered to be pooled when you first became De Facto.
So if you don’t want to make a commitment like that to your girlfriend – don’t move in with her.
And if the ‘big risk’ is your focus, not a BIG LOVE – then frankly you shouldn’t be with the lady.
One of the reasons for the failure of relationships IMHO is that the parties involved enter into them with reservations (so many fail) & try to keep themselves protected & separate emotionally & financially.
You can’t form a workable lifetime partnership on that basis
Cheers,
Aceyducey
