Hi Infinite

Check out Rick Otton’s site. He sells a calculator that I think does all that you need. It costs $105 inc GST.

Cheers

EnuffIsEnuff

Hi Soleil

I agree with Mel that to formulate a tax effective strategy you should see an accountant. You mention that your partner was going to see a (financial) planner … don’t waste your time, (sorry if I offend any financial planners).

Financial planners primarily have one strategy and that is to sell you managed funds or schemes like tree plantation, tree oil plantations etc., that Simon mentioned. They will rarely have property on their books. They might suggest some property trusts which aren’t too bad, usually return around the 8-9% range.

If you haven’t done so already read some property investing books. Some of Jan Somers’ books will give you ideas about negative gearing properties that can lead to the building of a substantial property portfolio for the future.

Cheers

EnuffIsEnuff

Hi Richmond

I have just bought a unit off the plan, finally managed to get back into the market after 3 years.

My reasoning for this is that I managed to get a 10% discount on the place as the builder needs his pre-sales.

Otherwise I am not so sure that I would get into the market right now. I was actually going to buy a block of four units but my finances didn’t come through. I am not really disappointed though as who knows what is going to happen in the coming months.

I read yesterday that the CEO of Wizard Home Loans thinks that the market is slowing but another CEO, (I think he was from one of the big building companies), said that the market was strong, a biased opinion you might say.

There are of course suburbs that will always be strong despite what the rest of the country is doing but for the rest … who knows?

From my point of view it all comes down to ‘the right deal’. Whether the market is booming or in a slump it is whether the deal makes sense on paper, (ie. crunching the numbers).

Cheers

EnuffIsEnuff

Hi Steve

Jan Somers and her husband sell a package called Property Investment Analysis, (see http://www.somersoft.com.au/). There are 3 version the Personal, Professional & Pocket. However, it says on the website that the Personal will no longer be supported.

The Professional package costs $495. I downloaded a demo and it does have everything you need. Presentation is not the greatest but that isn’t its purpose. I will buy it when I have a spare $500.

EnuffIsEnuff

Hi

I actually disagree with you Cremin.

Rock, your friend sounds like a great mentor to have and to do business with. It sounds like your friend might already have the right procedure in place to make property work for him.

I don’t see the problem with buying a property together and both of you making some money. Just ensure that everything is in a contract so that if there are any hiccups both of you are covered.

As he is most probably going to provide more $$$/equity then you might want to take a smaller share of the profits initially. As your personal wealth increases then you can split 50/50.

Mind you, I have only bought/sold one investment property and that was by myself. I am, however, looking to partner with somebody to buy again. Why not share the dollars?

EnuffIsEnuff

Hi Harold

I’m still looking to buy my first IP and am looking at Cairns coz I want a positve cashflow property.

If you don’t mind answering a few questions … What area did you buy in? House/Unit/Villa? How much did you pay?

Thanks []

EnuffIsEnuff

Hi All

I am only a ‘newbie’ but must say that it has become a bit of an addiction for me as well. I have checked the forum every day and it is the first thing I do when I get to work.

I don’t have any IPs yet as I am doing all the homework first. Reading books, websites and this forum … it’s gotta be the best property investment forum out there.

Chandara, I have enjoyed reading your posts … keep them coming!!!

EnuffIsEnuff []