Forum Replies Created
Hi Karl
This address may be helpful. It seems complicated but it really is not.
Check it out. Hope it helps
http://www.ato.gov.au/individuals/content.asp?doc=/content/31570.htm&page=15#H4_9
Cheers
Ca$hking[
]Hi Fullout,
I guess this depends on what you are trying to achieve. If it is to protect the asset from creditors for example, it would be better to hold it inside a trust with beneficiaries. It can also allow you to distribute income to various beneficiaries for tax purposes etc. However, you must consider that if an asset is held in a trust or company name, a bank may not be willing to lend against this asset unless the company or trust has sufficient income to repay the mortgage etc. There are many things to investigate before deciding on the appropriate structure to hold assets in. For this reason you should contact an accountant or expert taxation adviser that specialises in property or alternatively a financial planner….if you can find one that won’t try and flog you a managed fund or insurance instead heheheh[]If you transfer the title on a property in the future from one entity to another you will be up for CGT and Stamp duty and of course the legal fees to make it happen. (everybody wants a piece of the action)
Cheers
Ca$hkingChill out Kay Henry. My words are used as a figure of speech. I’m not a tiger in the jungle waiting to pounce on a disadvantaged antelope or something. Your strategy is to get out at the top of the market, so you can buy back into the market on cheaper properties elsewhere…..I AM DOING THE SAME THING!!!!!It’s just that my timing will be different to yours!!!
It’s a fact that a lot of people will lose a bloody lot of money when the market corrects itself. It’s not my fault, or yours, it’s just a fact. If I or you happen to buy a property from one of these people that can no longer afford to hold it, then so be it. If the term bloodletting (to describe this situation)is offensive to you, that’s your problem. There is no way to put a nice spin on people losing money. But that should’nt stop anyone from picking up a bargain that someone else can no longer afford.
That’s all, simple really!!
Ca$hking[]Hi Dom. I presume that you are trying to arrange finance for a rental property without having a “Job”. Sorry if I’m wrong. But I would imagine that they are unwilling to lend if you don’t have a job, as you would be reliant on the rent (rent reliant)…..and if you had no tenant for a period of time, how would you pay them???
That’s all I think it could be.
Cheers
Ca$hking[]C’mon Kay Henry, you are doing exactly what I am talking about: from your quote
“buy cheap and sell expensive”
Only my description is more colourful. I’m not trying to be charming, just factual. In any investment market, generally speaking, if someone makes money…..someone else has lost it!!
It’s a fact of life. I did’nt invent it. I just use it to my advantage….and I’m sure you will too, when the “Bloodletting” does begin. (If you were truthful with yourself)
Cheers
Ca$hking[
]Hi Alf,
Melbear is exactly right……
“If the rent is covering costs then keep it.”[
]If not, then Piss it off.[}
]At this point in the cycle, you would have to believe, the potential for a decrease in the capital value of property is more than the potential for continuing increases. With interest rates almost CERTAIN to increase, any investment that is taking cash out of your pocket will only take out more.
The market is SO overheated that when rates do start to rise…as they undoubtedly will, there will be “For Sale” signs up everywhere, particularly in Sydney and Melbourne. The market is full of fools. The smart investor takes notice of what the fools are doing, and does the exact opposite. Despite the warnings coming loud and clear from the likes of the Governor of the reserve bank and the treasurer, still the masses are pouring money into investment property and are borrowing in some cases 100% + of the value, in a booming market……does that make sense to anyone? Smart investors can see an absolute disaster about to occur….if you can’t………have a look in the mirror……you are looking at one of the fools.
I have just sold my investment properties (The negatively geared ones)and am sitting in cash waiting for the blood letting to begin….Once the beast is on it’s knees and it’s throat torn open, I will be back in for the kill…
Dollars coming IN…..that’s what we want….
Ca$hking
Thanks Gunner54.
I appreciate that. Runaway Bay I am familiar with, but I am not aware of the other 3, so I will check them out.Thanks again.[
]Your a legend!
Ca$hKingHi Havenleigh Park,
Westan is incorrect in saying that Financial Advisors do not study Real estate as part of their education requirements. It is included in units of study on Wealth Creation and investment strategies. Most people think they don’t study this topic because advisers push other investment products from which they will earn a commission. Generally, advisers are tied to a “Dealer Group” usually an Insurance company or a bank, and obviously they have to sell a product aligned to that dealer.Knowing what to do, even after an adviser gives his OPINION is still a challenge. In the end it is really all up to the client. I am a qualified financial adviser, however I have chosen not to do this professionally anymore as it is almost impossible to be TRULY independant. I have learnt that Cash is the King when it comes to investing. Others will go for Growth. If your aim is to quit work ASAP, growth will only help in a booming market,as we have just witnessed in property since about the beginning of 1996. However, we are now poised to enter a period in which the reverse (Contraction of prices) is almost certain to occur. Focus on Cash, as it will be coming in for ever…….(if the numbers were crunched properly) and if your research (Due Diligence)is rigorous.
Good luck…..remeber…..you are in control…..NOT an adviser…[]You are dead right about the “get up go to work, come home, go to sleep” then repeat indefinitely routine” only then to look forward to going out and getting smashed to forget about the nightmare of it all.
Have had enough of that? Won’t be doing it anymore!!!!! Getting rid of all the debt, selling everything that does’nt MAKE money. Keeping the rest. Can’t wait really. Will relax and enjoy…….and maybe go out for a big one every now and then……not every Friday night as is now the case….
[]Thanks Melanie. I’ll keep your email handy for when I need a loan. Won’t be working for a while, but after I’ve had a ggggggoooooddddd break, I’ll be looking for OPM (BIGTIME).
Ipswich West hey,
What about Rocky??? Mackay???Townsville???Cheers
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Hi Cashking – like the name []Yes there are still plenty of cashflow positive areas around queensland and you don’t have to look too far out of town either. I’m in Brisbane and it’s is a bit harder here but I’ve seen it happen here too, certainly anywhere from outer Ipswich west and north of Noosa aren’t too bad. Depends what you are looking for but older houses and blocks of units seem to give the best returns.
Good luck in sourcing some NOT NEGATIVE IP’s in future!
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Mel
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