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It is a system that was discontinued from sale a few years ago which is similar to Cherie Barber’s Renovating for Profit package.
See http://www.propertysystems.com.au/the-complete-renovation-system.html
I use US Tax Central who advise that the BE-15 Claim for Exemption is required to be lodged, which I have done.
Regards
David-
This reply was modified 9 years, 5 months ago by
DGHayes.
I have a complete copy of Dean & Elise Parker’s “The Complete Renovation System” that I’m selling for a friend for $750 in good condition.
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This reply was modified 10 years, 2 months ago by DGHayes.
Hi there Ralph,
I have also not come across this person or their program. If you are looking at property education programs, why not do Steve McKnight's Property Apprenticeship course (https://www.propertyinvesting.com/course#) which will cost you the same amount. Ask anyone who's taken this course (myself included), and the feedback is positive.
Regards
Dave
Hi there,
Interesting you post that Landlord Insurance is available in the US finally, as I have had Landlords' insurance for the last few years in the US from Allstate Indemnity Company (see http://www.allstate.com/home-insurance/landlord-property-insurance.aspx).
It will be worth comparing the two products on my next renewal though.
As Jay mentions, it is most important to check the vacancy clauses with regards to when coverage lapses.
Regards
Dave
Hi Brendan,
Remember to do extreme due diligence so you can make an informed decision as to the value of the property and if the numbers stack up both with NRAS and without. Your due diligence should also include suburb research to evaluate potential capital growth, and ABS statistics for employment, net migration etc.
Also to note that the $10K is off set against your tax, so you have to be paying tax to offset the amount to, something people forget when trying to build a portfolio out of NRAS properties, they run out of steam around 3-4 on average.
Dave
Hi TWH,
Interested to hear why yourself & Nigel think Rochester NY is not a good area to invest in?
Regards
Dave
Hi Freckle,
I like the way you use graphs in your articles to back up your arguments. Would it be possible to quote the source of these graphs when you add them to your comments so that readers can view the full articles that are related to the graphs you’re quoting?
Regards,
David
I would thoroughly recommend Steve McKnight's Nationally Recognised Property Apprenticeship Program which not only is a great training program, (which anyone who has signed up will vouch for – including myself), but you can also achieve a Cert IV in Business as an outcome.
Its designed for you to "Acquire The Skills & Confidence Needed To Achieve Your Wealth Creation Dreams With Australia’s Best Property Investor Training" as he puts it.
Check under the Shop Tab for more information.
Regards
Dave
Hi Freddie,
I realise you may be busy with the legalities of this issue, but reading through this thread it is an interesting dilemma and I am with Dubstep and would love to know how you progressing when you have time to post an update.
Regards
David
There are few forums on this topic, so I am simply pasting my comment from the other NRAS thread to this one.
My only comment would be to remember that the NRAS tax offset is a refundable tax offset and therefore you need to have relevant income or a tax liability to offset it against. This type of investment can have its place in your portfolio, however, you simply can't continue to build your portfolio on pure NRAS properties because at some stage you have nothing left to offset the offset against no matter how cash flow positive they are.
There are few forums on this topic, so I am simply pasting my comment from the other NRAS threads to this one.
My only comment would be to remember that the NRAS tax offset is a refundable tax offset and therefore you need to have relevant income or a tax liability to offset it against. This type of investment can have its place in your portfolio, however, you simply can't continue to build your portfolio on pure NRAS properties because at some stage you have nothing left to offset the offset against no matter how cash flow positive they are.
My only comment would be to remember that the NRAS tax offset is a refundable tax offset and therefore you need to have relevant income or a tax liability to offset it against. This type of investment can have its place in your portfolio, however, you simply can't continue to build your portfolio on pure NRAS properties because at some stage you have nothing left to offset the offset against no matter how cash flow positive they are.
Hi Mattsta,
Well can only comment on some of the things I learned so far from sessions 1 to 14, as there are a total of 65 sessions excluding occupational health and safety as listed here:
Module 1: Planning and Goal-Setting (Sessions 1 to 6)
Module 2: Investment Strategy (Sessions 7 to 18)
Module 3: Analysis, Buying and Financing (Sessions 19 to 43)
Module 4: Managing and Reporting on Property (Sessions 44 to 57)
Module 5: Investment Evaluation and Selling (Sessions 58 to 65)
Module 6: Occupational Health & Safety
I found this course to be more encompassing in that it not only talks about property investing, but incorporates investing strategy and investing principles into the mix. With Steve's weekly webinars that go hand-in-hand with this course and the extra homework assigned from these, you actually learn more than what is actually just contained in the course material.
Session 11 onwards is where the course actually starts talking specifically about property, so the key learnings I have had to date have been from module 2.
Some of my aha moments have been:
- With commercial propertyunderstanding the inverse relationship between yield and price
- Understanding the true cost of negative gearing and calculating the tax offset on losses
- Understand the supply and demand curve graphs and how they correlate to set the price point of the property market
- The point that there are only two ways to make a profit from property purchased in a negative gearing scenario, that is when your property rises in value rate in excess of the after-tax loss plus inflation, and/or if your cash flow increases and/or expenses decreases so the property becomes positively geared
- Understanding how the monopoly theory of property investing is really only relevant for investors that have a 10 year horizon which appeals to both passive and active investors and is thought to be more suited for passive investors
- How investment rules need to be adapted to suit market conditions, such as the adaption of Steve's 11 second solution to the 1% rule
- Understanding how the wheel of wealth calculator gives you a clear and concise understanding of how many deals you have to do to reach your property target being an active investor, and how using Brendan Kelly's half life one third capital requirement model is a great reality check against the wheel of wealth calculator to structure the amount of deals and size of deals as your investing knowledge grows
The forums on the nationally recognised property investor training website have an enormous amount of posts where people are also sharing their learning on a daily basis.
The great thing I find about this particular course is it's just not about property!
Regards
Dave
Hi Steve,
I agree with gpfstuff, I think it is a great change and very easy to navigate around. I also love the reward system which is as you say very easy to get hooked on.
Perhaps you should introduce the rewards system to the property investor training site so that even more posts are made and the community gets even more active.
Regards
David
Hi there,
Yes you can and its one of the best ways to own property. To quote from http://www.superguide.com.au.
‘Business real property’, such as commercial or industrial property, or a shop, or even a farm, can be a legitimate SMSF investment in the same way that residential property can be. In terms of superannuation investments, the key difference is that, unlike residential property, a SMSF can buy business real property from fund members, and fund members (or relatives of fund members) can use that asset if they choose to do so. Any lease in place must be at market rent and in line with the terms and conditions of a typical commercial lease.
Business real property can also be transferred as an in specie (non-cash) contribution, subject to contributions caps, and any small business retirement exemptions available (if applicable).
Any capital gains tax payable on the transfer is a tax bill for the individuals who originally owned the asset rather than the SMSF, although, with tax advice, there may be opportunities to reduce or eliminate that tax.
In some states, stamp duty will be payable on such a transaction. You need to check with your State Revenue Office whether stamp duty is applicable.
Regards
David
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This reply was modified 9 years, 5 months ago by
