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Chewy
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@chewy
Join Date: 2002
Post Count: 25
May 29, 2005 - 5:50 am
Hey,
I’m also looking around for some places to go at the end of the year after I finish my studies and I’ll be researching for places once my exams are over this semester.
For great value, you would need to look at the exchange rate and see which one the $AUD would stack up against. Asian countries are generally good value such as Thailand, Indonesia, China etc… Europe is a bit pricey although depending on whether you’re a party animal or not, you might feel like joining the Contiki tour = )
Anyone else got any suggestions? Also, does anyone have any experience with travelling to South America?
Chewy
Chewy
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@chewy
Join Date: 2002
Post Count: 25
May 15, 2005 - 1:53 pm
Hey Sketch,
Like you said, this is light-hearted entertainment and the reason I posted the link up was because it was funny. That’s why it’s under the forum frolic section, not the opinionated forum = )
Having said that, the actual website http://www.theonion.com does have some funny articles that they publish on a weekly basis if you want to have a laugh
Have a good weekend
Chewy
Chewy
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@chewy
Join Date: 2002
Post Count: 25
May 5, 2005 - 10:16 am
I would also like to add one more key concept:
Control of investment.
With investment like shares, options or futures, you can’t alter the share price or the dividend as it is subject not only to the company’s peformance but also market sentiment, neither of which you can control unless you’re a major shareholder.
With property, you can improve on income and capital growth to a certain extent by doing things like renovating, redevelopment or lease negotiation which is one of the reasons why people invest in property – it gives them greater control over their investments.
Martin
Chewy
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@chewy
Join Date: 2002
Post Count: 25
May 4, 2005 - 10:11 am
ok dudes and dudettes,
I’ve corrected the excel spreadsheet and uploaded it to the net. Again, if any of you find any errors, please let me know
Martin
Chewy
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@chewy
Join Date: 2002
Post Count: 25
May 4, 2005 - 8:54 am
Hey Jeff,
For further information, the actual place for the property is in Brunswick East and 497m2 was the total land area as it is located in a shopping strip. Although there is close transport, the amount of customers for these tenants would not really compare with those at Lygon Street.
Martin
PS
For those that are going through the spreadsheet, the interest repayments have been accidentally calculated on a monthly basis rather than a yearly basis.
Chewy
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@chewy
Join Date: 2002
Post Count: 25
May 3, 2005 - 1:32 pm
Ok guys,
I’ve done my research and just to let you guys know that we are going to pass on the property. The return just didn’t do it for us, even though everything else such as the lease was fine. The agent emphasises that the seller wanted at least 1.5m for the property. Although we had the finance, the returns weren’t there given the risks involved.
Attached is my analysis. Have a look and tell me what you think and if I had made a mistake, please let me know. = )
http://members.ozemail.com.au/~mhchu/investing/InvestmentAnalysis.xls
Martin
Chewy
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@chewy
Join Date: 2002
Post Count: 25
April 29, 2005 - 5:40 am
Having a company / trust structure to buy your properties simply offers you asset protection in your case.
The reason why a company is used as a trustee is that a trustee cannot be a beneficiary (correct me if I’m wrong). Secondly, it offers another level of protection if the company is sued. As the assets are held in a trust, and the company is a $2 company, then your assets are safe.
As for the income, a trust is used for income splitting which is only as good as the number of beneficaries you have on a lower marginal tax rate. If you and your husband are already on your top marginal tax rate and have no children to split the income from, it won’t be any more tax effective than having the property under your name.
If purchasing property under a company, Terry and GreatPig are correct. You’ll need to look at the pros and cons first before proceeding as well as costings.
Hope this help
Martin
Chewy
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@chewy
Join Date: 2002
Post Count: 25
April 29, 2005 - 5:27 am
https://www.propertyinvesting.com/forum/topic/17107.html
Chewy
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@chewy
Join Date: 2002
Post Count: 25
April 28, 2005 - 10:54 am
I might be able to relate to you a bit as I am in the same situation.
I’m a uni student at Melbourne University and I know how you feel when it comes to having little or no income to survive. Having said that, what I have done while I was at uni was similiar to what Steve has advised you and I would agree with him. Read and learn heaps, and develop core skills so you’ll know how to deal with people, manage people, time management, negotiation skills organizational skills, leadership skills etc…
(I’ve done plenty of volunteer work, group projects, started my own company with 2 business partners and worked for a while as a salesman in addition to taking subjects that would be useful in real life) and they have all added to my experience and knowledge as a whole. Just to let you know, I have learnt the most from running a company than any other thing that I have done so that might be something to consider.
In terms of finance… it is extrememly difficult for banks to lend us money so just save and work (either in a job or in your own business) until you graduate. That would be the best way for you to accumulate some wealth for the time being.
Risks… I was surprised by what you said. Being young is the time to take risks! It’s not like you’re 50 and have a wife, kids and a mortgage to consider. If you see an opportunity, go for it and if you go bust, well you have a lot of time to recover and the experience you will gain in the process will be invaluable.
And finally, (I might get flamed for this lol), DO enjoy your life at uni, don’t spend all your time researching about property and simply neglect everything else. We’re still young so it is alright to spend a bit. Univeristy life is short and sweet so remember to socialise, party hard and have fun in between!
Hope that helps
Martin
PS
I almost forgot… NETWORK NETWORK NETWORK!!!
Chewy
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@chewy
Join Date: 2002
Post Count: 25
April 26, 2005 - 10:25 am
Thank you Jeff and Dazzling for your help. I really do appreciate it.
I will let you know of how this progresses. Once I get further details, I’ll post up an excel spreadsheet via a URL with my findings / calculations to determine the maximum amount we should be paying for the property.
Martin
Chewy
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@chewy
Join Date: 2002
Post Count: 25
April 25, 2005 - 3:22 am
thanks for your help Luke
regarding your question regarding whether tenant leases are guaranteed personally or by company, if the business structure is a company, there’s no way we can check. The existing businesses are fairly well established already in any case except for perhaps one (a small chicken take away joint)
Martin
Chewy
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@chewy
Join Date: 2002
Post Count: 25
January 25, 2004 - 3:31 pm
wow, this is the first time I’ve been here for a month and a bit… so much has changed
SIS, there are SOOOOO many girls in uni… take your pick lol
AND at our age, you should be able to meet at least one person you haven’t met before. I mean with parties on every weekend and clubs to go, it isn’t hard
; take 1-2 days a week off business/investing and go out and socialise
Remember, you work hard, you play hard
Cheers
Chewy
Chewy
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@chewy
Join Date: 2002
Post Count: 25
December 29, 2003 - 12:04 pm
Thanks for the advice
The best site for information that I’ve been to so far is:
http://www.dgr.nsw.gov.au/html/publications/charities_publications.html
a lot of reading to do but it does help clarify a lot of issues.
Will be reporting back soon!
Martin
Chewy
Participant
@chewy
Join Date: 2002
Post Count: 25
November 29, 2003 - 2:27 pm
Hey, since Steve’s first seminar in 2002, I’ve been doing a lot of research for properties as well as numerous meetings with my business partners. I’ve chosen to have business partner since I’m a university student with no full time job whereas the other 2 have full-time jobs.
We considered a few deals which were discarded after looking at the market condition in that area. The last one was a great deal ($50,000 @ $140/week; contract was signed, subject to purchaser’s approval etc..) except the bank rejected our loan application on the basis that my business partners were not australian citizens… by the time the offer expired, another couple has snatched the deal… that really pissed me off [!]
Now, our property venture has stalled for the moment. My property investing partners have their own business on the side-line which they are planning to expand o/seas and I’ve just started my own with another 2 partners a few months ago so it’s really too busy atm to really get into the property market.
Anyway, my plans are to postpone any investment in property as it wouldn’t be fair for my other 2 partners to bail out if the banks need to sell my share of the business if a real estate deal goes sour and we have already invested a substantial amount of money in it.
I’ll still be learning and reading about property via the API and this forum but property investing is not a priority at the moment
Just wondering whether anyone else has similiar experiences or not
Cheers
Martin
Chewy
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@chewy
Join Date: 2002
Post Count: 25
November 19, 2003 - 3:05 pm
damn, my last exam (real estate finance) is on Friday, then I can concentrate on my business []. Lots of parties and 21st to go to as well lol
Doing proformas on commercial properties to get a valuation is such a pain in the ass!!
Chewy
Participant
@chewy
Join Date: 2002
Post Count: 25
November 8, 2003 - 1:36 pm
If you are studying at Melb uni OR you know someone who is studying there, you can try the MUEC (Melb Uni Entrepreneur’s Challenge) which is held annually. When I last checked you need I think at least 30% to have come from uni.
It’s run by the MUE and is sponsored by various companies as well as the state government.
Basically, it’s a competition where you will be allocated mentors to develop a business plan There will also be workshops for the theory side of entrepreneur (entry is free).
If your idea is really good (and i’m sure it is), the first prize is $30,000 + in kind. It’s also an opportunity for venture capitalists to help get your business off the ground. In 2000, the winner (the company sells hearing aids for the deaf, think the company is called Cochrane) actually went public and listed on the ASX.
Unfortunately, the event is over for this year but if you are willing to wait, go join up next year. the website is http://www.muec.org
There’s another competition similiar to this that is held by RMIT but I don’t know much about that competition.
Anyway, hope this helps
Martin
Chewy
Participant
@chewy
Join Date: 2002
Post Count: 25
November 8, 2003 - 1:18 pm
Robert Kiyosaki’s Public Response to John T. Reed’s Review of “Rich Dad, Poor Dad”
http://www.mastermindforum.com/kiyosakiresponsetoreed.htm
Chewy
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@chewy
Join Date: 2002
Post Count: 25
September 14, 2003 - 9:18 am
Subject: FW: WordPerfect – VERY Funny
This has got to be one of the funniest I’ve heard of in a long time. I think this guy should have been promoted, not fired. This is a true story from the WordPerfect Helpline which was transcribed from a recording monitoring the customer care department. Needless to say, the Help Desk employee was fired however, he is currently suing the WordPerfect organization for “Termination without Cause.” This is the actual dialogue of a former WordPerfect Customer Support employee (now I know why they record these conversations)
“Rich Hall computer assistance; may I help you?”
“Yes, well, I’m having trouble with WordPerfect.”
“What sort of trouble?”
“Well, I was just typing along, and all of a sudden the words went away.”
“Went away?”
“They disappeared.”
“Hmmm. So what does your screen look like now?”
“Nothing.”
“Nothing?”
“It’s a blank; it won’ t accept anything when I type.”
“Are you still in WordPerfect, or did you get out?”
“How do I tell?”
“Can you see the C: prompt on the screen?”
“What’s a sea-prompt?”
“Never mind, can you move your cursor around the screen?”
“There isn’t any cursor: I told you, it won’t accept anything I type.”
“Does your monitor have a power indicator?”
“What’s a monitor?”
“It’s the thing with the screen on it that looks like a TV. Does it have a little light that tells you when it’s on?”
“I don’t know.”
“Well, then look on the back of the monitor and find where the power cord goes into it. Can you see that?”
“Yes, I think so.”
“Great. Follow the cord to the plug, and tell me if it’s plugged into the wall.”
“Yes, it is.”
“When you were behind the monitor, did you notice that there were two cables plugged into the back of it, not just one?”
“No.”
“Well, there are. I need you to look back there again and find the other cable.”
“Okay, here it is.”
“Follow it for me, and tell me if it’s plugged securely into the back of your computer.”
“I can’t reach.”
“Well, can you see if it is?”
“No.”
“Even if you maybe put your knee on something and lean way over?”
“Oh, it’s not because I don’t have the right angle it’s because it’s dark.”
“Dark?”
“Yes – the office light is off, and the only light I have is coming in from the window.”
“Well, turn on the office light then.”
“I can’t.”
“No? Why not?”
“Because there’s a power failure.”
“A power…….a power failure?…. Aha, Okay, we’ve got it licked now. Do you still have the boxes and manuals and packing stuff your computer came in?”
“Well, yes, I keep them in the closet.”
“Good. Go get them, and unplug your system and pack it up just like it was when you got it. Then take it back to the store you bought it from.”
Really? Is it that bad?”
“Yes, I’m afraid it is.”
“Well, all right then, I suppose. What do I tell them?”
“Tell them you’re too f****** stupid to own a computer.”
Chewy
Participant
@chewy
Join Date: 2002
Post Count: 25
September 7, 2003 - 1:47 pm
wow, first time I’ve been here for months and look how it’s grown [^]
Good to see lots of people my age group as well
20 years old here from Melbourne. Spent 6 months researching and phoning agents with my 2 partners and almost came up with the sweetest deal ever!
Unfortunately the deal fell through cause we couldn’t obtain financing and someone else took the deal so still no I.P. under our names as yet but we’ll persist. Going to use a broker for pre-approval instead of using the bank directly next time.
Also starting a couple of ventures on the sideline whilst completing uni and working as well as maintaining a social life (so sick of 21st b/days now lol)
Anyway, got to stop procrastinating, got an assignment to do []
Cheers
Martin
Chewy
Participant
@chewy
Join Date: 2002
Post Count: 25
November 2, 2002 - 6:20 am
Hi everyone,
Last night, one of my friends sent me this link
http://www.travismorien.com/FAQ/main.htm
I didn’t go into that much detail as I was studying for my exams but from first impressions, it seems really informative and it’s Australian based.
One other website that I was referred to really laid it to Robert Kiyosaki. It has some interesting articles as well but the audience he’s targeting are based in the US.
http://www.johntreed.com/Kiyosaki.html
N.B. be prepared to spend 1hr+ reading the whole critique
I would be really interested to hear your opinions on that article.
Cheers
From Martin
Have a good weekend