Forum Replies Created
The investors club is the only group I am aware of who regularly hold meetings.
Apart from this there are occasional seminars, I am not aware of any in Sydney in January.I also think putting a property investment group together is a fantastic idea where we all can contribute ideas research and suggestions.
Danuta please let me know how this goes it could be useful for an additional option to this fantastic web site of Steves.Since a trust is a separate entity and I cant use the negative gearing personally from a trust.
And the loss in a trust can be carried forward until there is a profit or I hope I have this right?Please some one tell me if I haven’t?Can a trust still benefit from a depreciation on a property held in a trust just as I already use the 2.5% pa depreciation to help offset the negative gearing loss from a property not held in a trust?
When banks consider your risk level they take into account your total debt possible scenario.
Unfortunately they will consider your limit on your credit card to be at 100% when they make the check.
Thus if your limit on your card is $10,000 but you have not touched any of it yet the bank will assume that you are already $10,000 in debt.
So in your case the bank will consider your $35,000 deposit less the full limit of your cards borrowing capacity which in the example I gave above would leave you with a deposit of just $25,000 to a banks thinking.I would also be interested in the costs associated with maintaining a trust, can some one please provide a list and approximate price ranges thanks.
I was already thinking along these lines myself although for different reasons.Is it possible to form a new trust around an already owned asset such as a house or must there be a sale to the new trust.
Good link thanks it will help my education
I too would like to learn more about trusts
Gday heggie67,If you want a hand with renovations give me a call, I would like to purchase another investment property so perhaps we can do a deal on labour etc? Colin 0425201055'A winner is responsible for more than his job. A loser says 'I only work
here'.' Richard Denny.Gday zers,It looks like an advert from a developer, often they advertise this way to get more people to look and consider their property and with volume gain more sales opportunities. What guarantee do they give you that the tenant won’t or can’t move on?It definitely looks like the tenant is commercial considering they are paying all the bills?So is the rent being collected a commercial rent or a residential rate? Do your homework, check out the area to see what other simular properties are selling and renting for.Sorry I am always sceptical when people offload positive geared investments.It would make better sense to hold and profit for them selves would it not?Find out their motive to sell at such a good offer and perhaps it will point you towards an even better opportunity. 'Fear is a natural reaction to moving closer to the truth. Richard Denny. '
My tenants have to deal with their own bills.I think it’s the best approach to encouraging them to be friendly to the environment.However I have yet to find a way to encourage them to look after my garden.'One sure way to get rid of a problem is to stop calling it a problem and call it a situation.' Richard Denny.This week one coffee with extra coffee $3.Which brings the total for the year to $40.I found when I started collecting recepts for every cent spent and then logging them into my computer manually and checking my bank statements made it easier to justify keeping my hands in my pockets. Then again I really needed that coffee earlier this week as I had lots still to do and I hadn’t managed any sleep in 48 hrs.I don’t recommend working like this but there are times when one must grab an opportunity and work work work.Perhaps my need is a justified cause in this case?'The most important thing in life is to see to it that you are never
beaten.' Richard Denny.http://www.whywewantyoutoberich.com/
Check out this book it rases some issues of big problems yet to come.It positively reinforces the issue of why financial education is vitally important.Put it this way if we don’t provide for our own retirements we are all going to be screwed.Why should the lazy people expect others to clean up after them?Let’s get financially educated and live a good life and help set our offspring off to a good start too.A smart investor focuses on becoming a smarter investor, the average investor focuses only on making money. RichDad.com:
Making money comes down to good advice (and knowing it when you hear it), having a strong network of business associates, and first and foremost, knowledge. Rich Dad always told Robert that the first thing to invest in was a financial education.Anyone know if the new forum will be edited?
If it does I would like now to request that all idiots be removed.
Man insurance is bad enough and takes long enough to come when one needs it, why place unnecessary stress on the rest of us by encouraging the insurers to make it harder for the rest of us honest folk.
I guess I can’t fault you on asking a question how else does one learn.
Guess my question now is what will you do with your new knowledge?
Knowledge is power."
– Sir Francis Bacon (1561 – 1626) "Hell, there are no rules here—we're trying to accomplish something!"
—Thomas A. Edison (1847-1931) 'Surround yourself with dream makers, not dream killers' Richard DennyI just looked up about the fire alarms, and they arent req until July 1st so guess what…. on the day before she can have one and not a minute sooner! I would rethink this, as the tenant has stressed a safety issue, working with a safety company I can assure you insurance companies will use any excuse to skip out on paying.Heck they cost less than $5 each and most houses only need 2 to 3.What’s that compared to a human life.'Those who are lifting the world onward and upward are those who encourage more than criticise.' Richard Denny.
"Don't let yr character be impacted by yr surroundings, instead make yr character impact yr surroundings"
– Rachel Scott(17 yr old killed in columbine shooting 1999)http://rachelschallenge.com/Yesterday I found this quote (I collect them).
I think it says it all, this forum is no better than we so if your not happy change or change it.
Knowledge is what I am here for.
There is just a different label on the jar that’s all.
My stamp of approval is where ever I hang around.
'Great spirits have always encountered violent opposition from mediocre minds.' – Albert Einstein
My present financial position was caused from some bad luck.
But it was seriously multiplied by an earlier mistake of a good heart.
I am not saying to up the rent but realistically if you don’t do it to some extent when you encounter a problem both of you will be victims.
Be nice about it because as funny as it sounds it’s benefiting both of you.
If something happens to your financial situation down the track your tenants could be out with no place to go.
My suggestion is to give them a little holiday.
Renovate while they are away.
And up the rent enough to cover the costs.
Over time the higher rent will be to your advantage but there is nothing to stop you giving your tenants a holiday every 2 or 3 years, talk to them they may have ideas as well. 'All problems become smaller if you don't dodge them, but confront them. Touch a thistle timidly, and it pricks you; grasp it boldly, and its
spines crumble.' Richard Denny.Simon Macks sent me an article last year.I found it to be spot on.Unfortunately I had already learned the lesson the hard way around.But I kept my copy as he gave me permission to forward it to others who could do with some advice.
'The leader cannot afford to be a good communicator. They must be a great
communicator.' Richard Denny.
"Learn from the mistakes of others, you won't live long enough to make them all yourself" Richard Denny.Beware of paying good money for knowledge that you can get a lot cheaper from books.Seminars are income-generating machines taking money from people seeking short cuts and giving it to those who have read the books to make the profits. Seriously if they could make the kinds of dollars they say are possible why would they waste their time selling seminars think about it. Excellent property deals also fall into this category.If the opportunity was so good why are they selling it?Why are they not selling it to their mates long before approaching a stranger? The best most profitable deals in life are the ones you make your self.The best most profitable lessons in life are the mistakes you make and learn from.The best learning material is one that gets your hands dirty.There are no short cuts to knowledgeable experience. Please sign up to my once in a lifetime opportunity never to be repented offer to point out what a scam looks like.Please turn up to ….. On the …… and bring all your money. 'The greater the struggle, the greater the victory.' Richard Denny.
I suggest to all to do nothing.
From all of your positions your fences were doing their jobs perfectly.
A dog entering your yard could be a problem but if it doesn’t bother you is it your problem really?
If there were no safety issues and the fences were in good order from your perspectives there was no need to replace them.
Having said all this please remember good neabours can be fantastic assets to have surrounding our properties.
So weigh up if you should do anything based on harmony with those around you.
If the situation is like most people these days and you say hello once in a while or communicate only when there is a problem than I suggest fixing that and getting to know them better or returning the same service they give you (personally I would go with the first choice).
Leave the ball in their court, bullying can only work if you listen to them so if you want a way out of the entanglement send them to someone who can decide if its important enough to actually bother you with.
A business friend recently pointed out to me how much of my time was being wasted with unnecessary tasks, his suggestion was to pass the buck to someone else to handle and for me to spend my time on creative work tasks first.
I have found more often than not people are all bluff so don’t feel intimidated.
My suggestion here is to do nothing unless replacing the fence is in your interest at this point in time.
Should some one push the issue and try to coerce you into action that is not needed say no thanks not necessary and let them know of your solicitor’s details should they wish to take the issue further?Should they have a clear case for some monetary costs from you ok then?Solicitors & tradies etc are expensive so if their services are not necessary why should you bloody well pay for them.
Let them decide if they are willing to pursue an unwinnable / unprofitable situation at their expense.
State your position clearly and place them in contact with your legal representative ASAP.Often distancing yourself from the situation releases the pressure from you and gives you a clear head to think.
In this way all unnecessary expenses could be avoided.OK folks I am looking for an extra income stream.
Anyone who has one that actually works please let me know about it.
No doubt I will be inundated and will have to sift through many.
In about a month I will get back with the ones I have tried and those that actually worked.
[email protected]Your friend Colin,
Email [email protected]
Mobile 0425201055
Skype Colin Gowan
