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  • Profile photo of ChizChiz
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    @chiz
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    March 15, 2010 - 11:35 am

    Mucho thankso :)

    Profile photo of ChizChiz
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    @chiz
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    March 15, 2010 - 1:44 am

    Ask a professional however….

    I just read “How to legally reduce your tax” by Tony Melvin & Ed Chan. It is specifically about Australian tax laws and its a 2009 to 2010 edition.

    Its 80% about Trusts. There are many types and it compares them all. There is a solution to your exact concerns.

    Good luck.

    Oh and its written in such a way that it takes a dull subject and makes it actually readable. Excellent book!

    Profile photo of ChizChiz
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    @chiz
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    March 11, 2010 - 12:15 pm

    Buying and holding land sounds like a hard way to make money (becuase there’s no rent) unless you’ve going to do something with it straight away (like sub-divide or get planning permission done and then sell it or build and sell it).

    Do you have an ROI strategy?

    You said:Quote: “…query on what to do and how to know weather or not I am actually going to make money on this land” which makes me wonder if you do.

    Are you sure you can’t make a better ROI on the money you’re going to be spending in some other way. If you have a strategy and have done the figures and the answer to this question is YES, then buy it.

    You also said Quote: “…if the land is unsuitable for what my intentions are I can pull out of the contract”. So what are your intentions (sub-divide, build?)

    Profile photo of ChizChiz
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    March 11, 2010 - 12:05 pm

    CGT may not be too bad (tax is a good problem to have because it means you’re making money)… however, you’re right to take it into consideration because you need to think “would I get better ROI somewhere else?”

    …also, if it takes over 12 months, you’ll probably get a 50% discount on that (but check that with your accountant)

    Profile photo of ChizChiz
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    @chiz
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    March 11, 2010 - 2:29 am

    Thanks. I’ll check with my accountant now I know there’s a chance I can claim it one day.

    Cheers

    Profile photo of ChizChiz
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    March 11, 2010 - 2:20 am

    Are there any caveats in the contract such as “subject to finance”, “subject to due diligence”, “subject to ANYTHING” ???

    Profile photo of ChizChiz
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    January 3, 2010 - 12:18 pm

    So TIC only offer brand new properties (mostly units – I think someone said)?

    Profile photo of ChizChiz
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    @chiz
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    December 22, 2009 - 12:13 pm

    I don’t have anything legal to say other than:

    if this delay is going to cost you (and if other options fail) you could offer them a financial incentive to move out earlier eg no rent for the final X week(s) if they’re out by XYZ

    …again: I’m not even sure if that idea is legal (so go check before doing it)

    Profile photo of ChizChiz
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    December 22, 2009 - 12:08 pm

    Ha ha.
    23 views and no replies. I guess its a badly worded question. I’ll get a full example this weekend and post it here (assuming they do this on “Christmas” weekend.

    Thanks for reading :)

    Profile photo of ChizChiz
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    December 21, 2009 - 12:24 pm

    Do accountants do things like setup investment structures (eg trusts).

    I’m new to this and need professional advice on this (as well as an accountant who own investment properties and knows about claiming every legal expense)

    Profile photo of ChizChiz
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    @chiz
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    December 13, 2009 - 6:42 am

    Hey Ash,

    I don’t want to hijack your thread but I’m interested in the Rich Dad training too. Are you doing the coaching too? Can you tell me how the training is going? I’m just wondering how “American” related it is (especially the coaching part of it). Thanks.

    Chiz

    Profile photo of ChizChiz
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    February 6, 2009 - 10:46 am

    Thanks for taking the time to answer Richard and quickchick. I take you point about investing in training / knowledge before I step out and buy my first investment property.

    I read the info on “Ten disadvantages of Cross-Collateralising your property portfolio” on your web site Richard. Interesting. Thanks.

    Chiz

    Profile photo of ChizChiz
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    January 29, 2009 - 2:24 am

    Very interesting watching those Gold and Silver videos. Especially the bit in the ‘part 2’ about Silver going up by a factor of 40 (and gold by a factor of 5).

    Profile photo of ChizChiz
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    January 28, 2009 - 12:14 pm

    Ah ha! Found it myself in the end.

    https://www.propertyinvesting.com/forums/community/heads-up/6845

    Profile photo of ChizChiz
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    October 20, 2008 - 11:44 am

    Good point about the hazard :(

    thanks

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