Forum Replies Created
Paul,
I haven't yet taken a look at the vendor finance information that you sent me.
I am on a huge personal growth year, and am just prioritizing everything.
I am getting fit (having lost 16kg since my marriage seperation of 15 months ago.
I am learning the guitar.
I am becoming financially secure. I am reading the Steve McKnight books first, and will then look at all of the information people are sending regarding different opportunities.
Thanks Andrew,
I am totally committed to becoming very financially secure so that I, my new partner, and all of my children (both from my new relationship, and from my marriage) are well supported.
The motivation is huge. There are those people that when thrown from a horse, never gp near them again, there are others that get straight back on, and seek to tame the beast. I never give-up, and the harder the fall the more reason to get back-up.
Your right Mattnz.
And what's more she ops not to work in her great paying job, because it would cost me less if she did.
Thanks for this advise.
I have joined the Property Know How group to obtain the best advise from all walks of life, and find a mentor.
JacM,
You are correct.
I need to select the right property for all the reasons you mentioned, and will take all the risks into account.
All I meant was that if the right property is in Brisbane or Melbourne or overseas it really doesn't matter, but the property and the critical factors are vitally important, to any investment proceeding.
Joe,
You could only image how ripped-off I felt when my lawyer told me what I was dealing with, and what to expect.
It is primarily based on contribution (which was 50/50), future needs (my ex is the primary care provider for 3 kids under 9), and future income prospects.
My ex (and her lawyers wanted 100% of the assets, child support (which I pay anyway),spousal support (to maintain her life style, as it was during marriage), and a portion of my superannuation.
I kept all of my super, and dont pay spousal support, and got 10% of the assets (after lawyer fees).
Makes you consider marriage carefully, before jumping back in.
Thanks Kevin,
I have just purchased a copy of Steve's '0 to 130' online, and will get to a book store this weekend to purchase his newest book.
Thanks again JacM,
Sounds like Richard is the man I need to speak with, to get the ball rolling. He has sent me some information which I will read first.
Thanks,
Donavan
JacM,
Great to hear from someone in a similar position to myself (from a Superannuation point of view).
As I am in Melbourne, would it be rude of me to ask who you used to help set-up your SMSF, and get your opinion on how well it was handled.
I too am in Melbourne, although I am prepared to invest wherever the opportunities are.
By the way, love you slogan of 'collecting big piles of bricks that earn income', is the Geelong property market worth a close look at?
Thanks,
Donavan
Richard,
I look forward to reading you article. The more information I can get on SMSF the better, as it seems an area that I definitely need to take control of.
Thanks Shahin,
I will keep an eye on Cranbourne and Brisbane in particular. I have family that live in Cranbourne, so I can get the down-low from them.
Thanks Kara,
As soon as I am finished the '0 to 260' book, I will grab a copy of his newest one.
The way he writes does make it easy to read, and stay interested.
Shahin,
I am going to take my lead on investment properties from Steve McKnight and say, 'I don't care where the property is so long as it earns me money'. I haven't yet reseached areas/states, but am open to suggestions, based purely on current and future earnings.
I live in Melbourne, but that will have no bearing on the location of any investment property I buy.
Thanks,
Donavan
Thanks Richard, Nigel, Paul, Shahin & Scott for your valuable replies. It is wonderful how varied the options each of you present are.
From these comments I will doing the following-
- Studying up on SMSF's – starting with the information Richard sent
- I have joined Property Know How, and look forward to catching-up with Nigel
- Read-up of Vendor Finance – Thanks Paul, I hadn't even heard of this option.
- Reply to Shahin
And Scott, your comments are so right, I really need to consider where I make extra income, given that (my ex will be trying to access some of it).
Thank you Tom, Richard, Shahin & Scott for taking the time to respond.
Your feedback is valuable, and provides me both with a knowledge of what is possible, and some of the traps to look out for.
I will investigate this option further, I am sure there are plenty of educational books available, that will further expand my knowledge in this area.
I am sure that many of you have already gained a great deal of knowledge through reading, and perhaps could advise of any recommended books that would be both current and relevant to the Australia tax laws & superannuation rules.
Thanks,
Donavan
