Forum Replies Created
Ta Muppet
Cheers
CD!CastleDreamer
What a great idea. I can go to a seminar in lovely NZ and have a great time meeting other forumites who will also be enjoying their tax deductible conference trips – Steve, you could make it a week long conference, where we pay you a ‘holiday size’ fee and the conference includes lots or great investing info, and skiing and a nice chalet accom in a really cool NZ area. Can we do that for 2005? Half serious, but it would be great.
Cheers
CDCastleDreamer
Do some calculations of the actual costs rather than just the percentages. Commercial properties can have differing outgoings that you pay (because your tenant may pay some of them) – the percentage may not give you a real appreciation of the cost/profit of the property.
CastleDreamer
Hmmm, imagining to myself: Guy thirty five years old, works at Woollies, wife, two kids, earns 30K per year. Wife does ironing to help with school fees. Sees Today Tonight and envies the opportunity that the MAPpers have been given. For this guy to ever dream of controlling one mill of property is a big dream. For many like him/us Steve’s offer to demonstrate that people can control a mill of property in one year is big thing.
Some of you have disparaged the concept with statements like ” yeah if you buy one house in Sydney you could own one mill with 30K equity” (can’t find the post where this was said, but something similar). My guy doesn’t even net that much salary!
So instead of disparaging the concept of controlling a mill of property, let’s look at it from the small guy’s perspective. control 1mill of property earning 35K. Wow, you have really taken a big journey to get there. control 1mill earning 300K, so what, by comparison.
The journey and the possibilities – doors opened for the MAPpers – is what I think this is really all about, and I reckon Steve is a great guy for taking on the project and offering to make changes for the better in others lives. Well done Steve.
CDCastleDreamer
That’s typical though. People hear something, recollect less than half of it, and then expound about the whole of it. Accuracy goes out the window, and the chinese whispers start. How big was that fish that your cousin’s, sisters, boyfriend caught????
CastleDreamer
Whose rules? If the statement was explicit at the outset, how can someone else complain that it doesn’t make sense later? If a person makes a statement that is later twisted or altered in some respect by others, how is it their fault????????
CastleDreamer
Sibo,
you should read API magazine. Mini told me about an article the other night – it is specifically about signing a contract xxx and/or nominee. You should read it if you are thinking of spotting.
Cheers
CDCastleDreamer
Edit: Ooops, Sorry Mini, quoted the wrong mag, New Zealand Property Investor.
Thanks for clarifying Steve. I take a very cool approach to the TDT and similar shows. They always seem to sensationalise things, change context and generally have a good time with your sound bites if you don’t get them exactly right! In my very brief exposure to the media, I have been misquoted myself, and seen the same happen to friends, so I take a broad view of what the media presents. Of course people will question Steve’s claims, but at the very least they should question the actual claim, not the perceived claims or the partially correct recollection of the claim. Then at least we’ll all be on a level playing field and looking at the same thing to judge it fairly
Cheers
CDCastleDreamer
Hi Unreal Jo,
finders fees can range from 1100 to 4000 depending on the finder, the type of property.
some finders require fee once contract is handed to you. Some guide you through until the contract goes unconditional and claim fee then.
Pay to bank account, or through their solicitor’s trust account, can vary.
Your finder might be a friend or business colleague you hook up with and pay with a carton of beer (jokes!!!). Seriously fees can really vary, and so can service. The more expensive fee does not guarantee more service of better property.
There are a few spotters on this forum – some advertise in their signature, some you can find in their posts. You could contact them by PM for more information.
Cheers
CDCastleDreamer
Hi lifeexperience. Are you saying that you have prospective tenants that don’t quite match your intended tenant profile, and that they have come up a bit short on your investigations, so you are worried about letting to them? I am a bit confused re what you are asking us??
CDCastleDreamer
There is definitely a difference between controlling a mill bucks and actually having net one mill sure, but Steve can net the mill plus, so let’s see what the end of the program brings and get the results for all of the MAP guys. I have heard very different positive stories compared to those referred to in the Media Watch report – MAPpers are you out there? Let us know how you are going!! Share some of your success stories with us!!
Cheers
CDCastleDreamer
Hi Warrick,
My accountant set up my family trust for $330 including GST! He sorted the ABN and all the tax office stuff as well as the trust document etc.
Cheers
CDCastleDreamer
Hi Mini
“could Inala go that way?” It already has.
Sizzling duck g’day
Inala is a huge suburb, two to three times the size of other suburbs near by. Have you had a good look at the northern side of Inala north of the Civic centre? Major urban renewal by contractor on behalf of Housing Commission over past five years or so. Houses completely renovated and refurbished and released to market were 80K 18months ago, today 220K. Did I miss something, but I think even Inala has had some excellent growth in past year.Appreciate you live near Inala (so do I) without being nasty, but being frank since everyone seems to be doing so here, some nearby suburbs don’t have the best wrap for some particular areas, do you know the crime stats for Sherwood for example?
Some pockets of Inala are lovely, decent people living decent ordinary lives. And their 50K houses are now worth 200K plus. Not bad for ‘scummy feral Inalarites’ (note my sarcasm here…..)
Elves, I didn’t mean to offend your opinion, (if that’s what I did) I feel its important to put our opinions forward – but wanted to reiterate to SMARTMONEY that it can only be his decision alone to live somewhere – make his decision in an informed way – and not just based on opinions like ours.
Interesting that several of us have got on here, and nailed or defended several areas. Each of us has had differing opinions, yet all of us state that we have lived in these areas – or have family in them.
I admit that I have worked as a Paramedic in the Logan and Ipswich areas – I think I am qualified to comment on the dinginess of the area – I have seen it on a daily basis. BUT there are also lovely areas with good neighbourhoods. No different to anywhere else.
As an investor I have had shocking tenants in blue chip suburbs, and salt of the earth tenants in ‘scummy’ (opinion only) suburbs.
SMARTMONEY, I say it again. Good luck with your househunting. I hope you find a great place to live, and that you are happy where you are at.
Cheers
CDCastleDreamer
Hi George, how did you go? The grapevine speaks, and you maybe bought some stuff? Well done!!
South Island is lovely, and yes, Westan and Alvin and the ten other Johnsons are a lovely family!!!Cheers
CDCastleDreamer
Way to go Chan, that’s great[jester]!!!!! My first IP was bought in January 200 – missed out by six months[bawl]! Good on ya[specool].
Cheers
CDCastleDreamer
Absolutely, sight unseen from an agent is very different to sight unseen from a trusted spotter. But some people will prefer to see every property and that’s entirely sensible as well. We each have our own risk levels.
CDCastleDreamer
definitely use offset account rather than put it into a loan, if this is what you decide to do. If you put it into the loan, and then decided to pull it out for private purposes it would be a non tax deductible amount, and your accountant would have to work it out separately.. Easier if its in the offset account to start with.
CastleDreamer
Who is thinking of going from Brisbane?
CD
CastleDreamer
Yep, despite my confused post earlier, that’s exactly what I do Ian, although I have to go out and check out this corporate trustee business now.
Cheers
CDCastleDreamer
Hi viralk,
I hunted around for bank/lenders who would do less than 20%, but all said 20% minimum (or worse) for O/S investors in NZ.
Century 21 are a realestate agency – do they offer finance as well in NZ?
Let me know how you go.
Cheers
CDCastleDreamer
