Forum Replies Created
Oh we feel so much better! Had a hunt around on google, asic and others for aussie rob, and while there isn't anything incredibly negative, and while I really love your cake anaology DWolfe (and agree) we have decided it aint for us… we haven't been to a seminar like this before and feel like we got totally swept away by all the excitement – we feel like goofy newbies – this from a couple who think they are reasonable sensible and cautious! Ha! We're happy to admit we goofed!
Have just shot an email through asking to cancel – and feel so much better – think I said that already
So…. we are back to tax liens, which we had already read about and feel happy with. Would love to hear about how the destiny program goes.
fanks D – feel a LITTLE better
as to the littlies – we took ours today to sort out our passports…. oh boy. what a mistake. after births, deaths and marriages, photos, etc etc we had a nearly five year old and a two and a half year old either screaming like banshees or belting around like lunatics….. I remember really well looking at other peoples kids BC and thinking "mine will never be like that" – ha, ha and double ha! The joke is so on me!
Hey de ho folks!
DWolfe – looked, but didn't see you!
We have had Dean and Elise's system for about a month, and whilst we haven't implemented it yet, the systems and information in it are amazing! For a step by step program catering to an absolute novice, I haven't seen anything better…. we have decided, however, that a still hot Melbourne market is probably not a great place to start with little experience. I guess we are somewhat concerned about the bubble might just pop between when we buy and reno/sell.
Have been researching the tax liens for nearly two months and it looks fascinating… and pretty safe. We signed in to Tommy's workshop and are very much looking forward to it.
Now the embarrasing bit. We are, by the sounds of the above, lemmings!! Bought Aussie Robs system and are now freaking out a bit after reading the above…. we are also kinda scratching our heads at how easily we got carried away – we bought the steak knives dammit!! Our only bit of reassurance is that perhaps it seems to work for people who strictly apply his rules – and I am a stickler for the rules!! Our theory was that we have a fair bit invested in property and would like to diversify a little… and again, a little timid about investing for lump sum gains in Melbourne right this moment, and lack the time to look to invest regionally or interstate.
The one of most interest was the RESULTS program, which I intend to sign up for next year.
I really enjoyed it, even with the sales pitches. At the end of the day, it was an experience we wont quickly forget, even if it some of it is with a raised eyebrow… it also helped to clarify our goals, and we got to spend time together discussing our potential paths to get there – time we just don't normally get. And not only financial goals, but also health wise – hearing Peter Daniels and Li really made us look at ourselves… and gave us motivation to change where we are with that.
Bring on the next year – lets see how we go!
we've just sold an IP in warrnambool – not dodgy, just regional. we were lucky enough to get a govt body as the tennants as there was IT work happening at the local hospital that was going to require the services of contractors not from the area… it was CF- though, and while the tenants were EXCELLENT (paid six months in advance bi-annually) the capital growth has been pretty crap – on a unit within walking distance to the beach and warrnambool CBD, which quite suprised us. It was an emotional buy though, there on holidays, loved the place, saw something for sale – no due diligence, no research (well, some, but limited)… definately newbies to the game back then!
we are now living in "scumbury" – Sunbury, and find it a really nice area, despite the publicity it gets. it was as close back to melbourne (i was bought up in eltham/montmorency area) as i could get hubby to move from our central victorian farm near maryborough… we didn't have any IP's in maryborough, but friends that did said the yield was ok, capital growth ok, but that getting good tennants, or getting bad tennants out was a nightmare. Don't know who managed them for them, or how well it was done.
FIL had some good CF+ yields and capital growth out of wendouree – dodgy part of ballarat over – over many years and several properties.
fascinating topic!
gonna have fun in the city……
Thanks for that extra info hewlett.
Been reading a bit more about the tax side of things too – seems there was a bit of concern for people buying in joint names or in a trust – that they might not qualify to receive the govt subsidy, but they appear to have gotten that sorted out…. although certainly looks better to steer clear of head lease arrnagement. Seems you can sell out too, before the 10 years – although found mixed reports as to whether the buyer has to be prepared to be in the scheme or not. We have a family property trust that we prefer to buy our investment property in – wanted to make sure that the beneficiaries can access the tax offset.
As you say, with rental returns like that, I'd be happy with less capital growth then 12%!
Can I ask who you bought through – as in which property group, manager etc? I read a little about one of the Queensland managed ones that require you to discount rent by 25.01% instead of 20%. Are the managers the ones responsible for ensuring that the tennants meet all the rules to keep owners qualified for the government subsidy?
Thanks again!
