Forums

June 21, 2003 - 12:30 am

Hi Oscar,
I have attended Navra’s course over the weekend. I think his strategy for serviceability is creative. It’s a safe and legal (and which banks will accept) of income stream.
Having said that, I am new at this game myself. At the moment, I am in the process of finding which strategy will work well for me (i.e. positive cashflow properties or Navra’s whole structure of shares then capital growth properties). What are your thoughts?
Alexa

June 12, 2003 - 9:43 am

Hi guys,
Thanks for all that useful advice and information. I was a bit worried coz the deal I was getting into (my first one!) failed the 11 sec solution. However, after calculating and re-calculating, I finally got the correct bottom line. Yes, it is positive cashflow. Return of about 8-9% so it’s not bad. The property is Mackay CBD. It’s a 2 bedroom flat. Got it for 65K. 5% deposit and 60 days settlement. Weekly rental of 125. Current tenant to sign one year lease. Outgoings of about 1500 which would be 1000 council and 500 for body corp. The property management is a bit high though 8% plus gst plus $5.50 for postage and petties and letting fee for new tenants. It’s roundabout 12.48% of the weekly rental altogether. I figured, it’s okay as long as they do a good job.
I was a bit apprehensive posting my first deal as it might look so silly. But as Steve would put it, who cares if I look silly. [

June 12, 2003 - 9:31 am

Hi Michael and Kaye,
That’s an interesting comment. I have bought her book too but haven’t met M Lomas personally. The thing is, one of the properties which they have on the market at the moment (Swanston St apartment) was sold to me early last year. My accountant has worked out that it is negatively geared, and I will be out of pocket by x amount of dollars. Can’t remember now how much it is. Anyway, I was able to get out of the deal only because the developers failed to complete the project on time. The next thing I knew, Lomas was selling those same properties. I was keen to find out how she has worked it out. Rang edestiny and was told they will ring me back but didn’t get the call. Still very curious though. The property is a student accomodation with rental return of 6-6.5 rental guarantee. It’s fully furnished but of course the floor area is very small, about 30 sq only.
I am a bit unsure about depreciation too. Having attended a H & R taxation course. Just very basic training on taxation, we were told that the depreciation is actually included back onto the cost when calculating capital gains. For example, if you’ve claimed 100 dollars over the life of the item as depreciation, you have to put that back when selling. Would you know anything about this.
Cheers.

June 5, 2003 - 6:54 am

I think the point Kiyosaki was trying to make is that while tax deductions are good for investors, it should not be the primary purpose for investing.
I do not think the laws will change overnight. It is always a possibility though that legislation changes. We then just have to reposition ourselves according to the existing opportunities.

June 3, 2003 - 11:25 pm

Hi Guys,
Thanks for all your replies. Fingal is in Tassie. You got it right, Soosh! [

June 3, 2003 - 11:06 pm

Hi Tiffany,
Great idea! I’d love to have a copy of your flyer. My email add: echua10@yahoo.com.au
Thanks.

June 3, 2003 - 3:59 am

Hi Becky,
Will check it out! Thanks.[

June 3, 2003 - 1:58 am

Hi Sooshie and AD,
I am constantly amazed at how many people are out there to help. [

April 5, 2003 - 8:05 am

Hi Steve,
Thank you for inviting me to read the first draft of your intro. I think it is cleverly written. Light and certainly not imposing. It impresses upon the reader that there is a way out of being tied up to the office as an employee.
Having said that, I think I will have to agree with Brett in emphasising how you built your own wealth. But perhaps this is a chapter on its own. [