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Aceyducey
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@aceyducey
Join Date: 2003
Post Count: 651
August 2, 2004 - 8:15 am
Originally posted by gmh454:
And as to the commune quote…..seriously…
Terry,
You’d be in good company. I know someone who owned 12 properties who did just that in 1996, fearing that the economy was about to go bust.
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
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@aceyducey
Join Date: 2003
Post Count: 651
August 2, 2004 - 1:36 am
Richard,
What precisely is Conan advertising?
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
August 2, 2004 - 1:29 am
ayse,
A good way of finding one is to search this forum & look for who people have recommended in the past.
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
August 2, 2004 - 1:25 am
We have most through trust structures & a few in personal name.
Yack, buy Dale’s book. It will answer your questions.
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
August 2, 2004 - 1:21 am
Eat, drink and be merry, for tomorrow we’re all dead.
Cheers,
Aceyducey
PS I literally do mean tomorrow *evil laugh*
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
August 2, 2004 - 1:18 am
Start with the ABS.
Then look at local council sites.
That way you ensure the quality of the information. Google has links to a lot of outdated & inaccurate information.
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
August 2, 2004 - 1:16 am
Diane,
Have your friend visit IPAustralia & read up.
Remember at the end of the day if he tells no-one & never actualises his idea, holding rights to the name is worthless anyway. You have to take a risk sometimes – just ensure it’s calculated!
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
August 2, 2004 - 1:15 am
Yawn
Terry, since you’re so negative about it I suggest you sell your your assets immediately & retire to a commune where you will not be effected by the coming crash.
Rates go up, rates go down. Serious investors make money.
And no, you can’t help everyone who makes a bad decision. THEY have to decide to do their research.
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 31, 2004 - 10:50 pm
Go Lisa,
You’ve definitely begun looking at the decision from the right perspective. Understanding how the other person wins out of the deal is crucial to working out your own negotiating position.
I reckon you made the right decision.
In reality rents & property values can be expected to rise over the mid-long term provided there remains a similar supply balance in the economy in the areas where people wish to live. Even if a population is declining or there is deflation you can rely on these values rising if more people want to live in the same area & there are less properties being built in those areas versus the increase in the number of people who want (and will pay) to live there.
If supply is higher than than demand however prices can and do decline.
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 31, 2004 - 10:41 pm
The prospect of another interest rate rise grew yesterday when official figures revealed Australians owe an average of $53,800 each – or a record total of $1.07 trillion.
Well I’m happy to write out a cheque for my family’s $215K debt – anyone else prepared to come to the party?
SPAM, I asked my crystal ball if interest rates would reach that 9% level by 05-06 and this is the response I got: “Not in a million years”. So you can rest happily.
If you want to consult it yourself, go to: http://www.imagi-nation.com/moonstruck/question.html
I guarantee it’s more reliable than experts reported in the media.
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 30, 2004 - 11:31 pm
jhighlo2001,
In this instance you got burnt – and learnt a lot.
Unfortunately sometimes you just have to put these things down as a learning experience & move forward.
Many people do fall for these scams – very few ever visit a property forum. You have at least, begun educating yourself & that will greatly improve your ability to succeed as an investor in the future.
Terry Ryder has some great books out as well that you should look up at your local library – and maybe it would be worth your while contacting him direct. The current affairs programmes may also be an avenue for you – not so much for compensation, but to ensure that other people don’t follow your footsteps unknowingly.
At the end of the day it’s not all of Melbourne against you, it’s simply a few people at a few companies who engage in unethical behaviour. Now you’ve learn how to recognise them & will be more cautious in your due diligence in future.
If you want to contact a very good valuer in Melbourne directly & get valuation info ‘from the horse’s mouth’ pop over to Somersoft & look up RightValue. He’s a very experienced valuer in Melbourne & via emails or phone can probably give you an idea about whether you have a conservative valuer or if it’s the solicitor who is stringing you along.
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 30, 2004 - 11:24 pm
Sounds like a great business Sunshine….you could franchise that sort of thing
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 30, 2004 - 12:20 pm
Here’s the details for the next BIG (Brisbane Investor Group) meetings. They’re quite a fun crowd…I think around 50-60 people regularly attend…
BTW: They’ve got Ian Somers (aka Jan’s other half) on the panel…as well as other luminaries like Kevin Hockey & Larysa (they’re great people):
http://www.somersoft.com/forums/showthread.php?p=111786#post111786
And their regular cashflow game:
http://www.somersoft.com/forums/showthread.php?p=111780#post111780
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 30, 2004 - 12:14 pm
Grega,
Go talk to Steve Navra (www.navrainvest.com.au). He has some creative (and legal) solutions for situations when you’re cashflow poor and equity rich.
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 30, 2004 - 12:12 pm
Originally posted by shaunwalker:
not sure if you’re being sarcastic there acey [biggrin], but steve did explain how it worked at his seminar, yes it is basically buy low and sell high. at no stage did he say it was going to be easy.
I’m glad it was explained there – and frankly I wouldn’t have expected less of Steve.
However my comments stand as it appears that a lot of people in this thread are having difficulty undersanding what he means….
Either they weren’t listening at the seminar, or didn’t attend
An explanation in here would help settle the discussion.
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 30, 2004 - 12:07 pm
Originally posted by lifeX:
Acey,
Acey, why wouldn’t you ever distribute to a company? What if you had no other beneficiaries left under a 30% tax rate. ie: single high income earners. (is it because of the difficulty of getting money out of a company without being taxed?)
Do you think that the risk mitigation benefits you mention will remain long term? Are the government not trying to clamp down on the use of trusts for this reason?
Why not to a company?
OK – how do you then get the money OUT of the company….pay dividends…taxed! pay salaries…taxed!
Why get double taxed?
Look at the effective income tax rate, not the progressive rate.
When you earn $80K a year with no deductions you pay $24,407 tax – or a smidgen over 30%…at $100K you pay 33% tax. Get a few deductions & you’re paying an effective tax rate BELOW that of a company.
As to the long-term tax effectiveness of Trusts…I apply the Politician & Influential People rule.
If politicians & other influential people use a particular legal structure there is a low likelihood of that structure being made illegal.
Whilst pollies & heads of industry make extensive use of Trusts, I’m very comfortable using them.
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 30, 2004 - 11:58 am
Originally posted by westan:
I’m with you yack average people don’t make big money from short term investing/trading. Yet i know many who have made over 1/2 million in the past few years in property.
No problems Westan & Yack – do what works for you
However just because you couldn’t make another investment type work for you, don’t assume that no-one else could.
No serious investor is ‘average’….you’re already well above average if you buy a single IP!
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 30, 2004 - 11:56 am
contract,
As you have now made the comments public I suggest you do the right thing.
Do you think that the ATO doesn’t monitor forums to look for people who are doing dodgy things!
There was recently quite a big scandal in Australia with some prominent people who were hiding money in swiss bank accounts. They got caught.
Talk to a good accountant & discuss some tax minimisation strategies.
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 30, 2004 - 11:53 am
Caz,
I reckon it sounds like a lousy deal – just pass the details on to me and forget about it [biggrin]
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 30, 2004 - 11:49 am
bennido,
I live in Canberra & use Dale.
I know people in NSW, WA, QLD & Japan who all use Dale.
I’m sorry that he lives too far away from you [biggrin]
If you want to use the best, use the best.
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut