For me it’s the fact that sales pressure inhibited the client to do their due dillegence.

Rgds.
Lucifer_au

#

“I’m a little disappointed that the ATO still regards politicians and journalists as unqualified to offer financial advice.”

L0L Aceducey!

I like how politicians aren’t qualified to give advice, but somehow are qualified enough to legislate, approve and amend) on taxation legislation. Fantastic!!!
Good to know Australia is in such safe…[Read more]

Well I would suggest you download Windows XP Service Pack 2.
It contains all the fixers for Windows to date, plus a few more updates and features.

Another recommendation is Firefox. Firefox is an ultra cool browser; Go here for the download: http://www.mozilla.org/
Just FYI – Mozilla contains an email application (called thunderbird) and a…[Read more]

CitiGroup (i.e. Citibank) is the largest financial institute in the world. If it was to default it would cause an international banking crises.

In fact when NAB was looking at potentially buying St George Bank, CitiBank offered to finance the whole deal by themselves. The NAB Chairman said in an interview that it would be difficult for the Big 4…[Read more]

I agree with Terry,

My concerns are:
->How you are valuing the property with the prop. slump
->$120 per week goes into a bottmless pit? Charging way too high for ‘option’
->Very high difference in rents Vs owenership (though this is always a problem with higher priced property on Wraps/ LOs).
->Second option fee is way too excessive

I wouldn’t…[Read more]

Just a quick note, it will take longer if you use a company/trust and/or use a shoie box to keep your reciepts in.

Rgds.
Lucifer_au

Wraps are being done in WA, so their not illegal, you just need a CCC licence. From what I’ve been told their not to hard to get, and they shouldn’t be too expensive. As for the cash requirments you ccan simply place $$$ (from home equity lets say) into a bank account, show them you have proof of the funds and you shouldn’t have too many problems.…[Read more]

There are higher regulatory requirements than say of a company/trust (i.e. more rules to follow). But it is being done.

Check out Legal/Accounting forum.

Rgds.
Lucifer_au

Well it depends…

With negative gearing you get all sorts of nice tax deductions, where as having a home mortgage you don’t get the same taxation benefits, so I would say your house. However you can use the extra money to positive gear the IP (say $150p/w), then use that money ($150p/w) and the rental/+CF into your house mortgage payment. This…[Read more]

From memory you can actually buy stocks in a company that just buys gold bars, each stock is issued at 1/10tb (so if gold was $500 an ounce you could pickup up a share for $50 and that would give you ownership of 1/10 of an ounce). The ASX code is gold.

Or just do what Aus suggested!!!!! (There could be hidden costs, or some sort of unprotected…[Read more]

Yes you can, you simply put it on your own personal income statement or your trust (you hold your IP’s in) can pay your company for you to do the book keeping (just right down how many hours you have to do, for proof – and you’ve got your certificates too! (so slam dunk against the ATO!)).

Rgds.
Lucifer_au

I know you can still get 90% loans for a trust (I’m not too sure about 95% though).

The problem with having assets in your own name is that if you are sued (say someone damages themeselves while diving into a pool) you can lose the property, even if you have landlord and public liability insurance.

From perosnal experience if you are injured it…[Read more]

I claim them in the category of ‘cleaning and repairs’.

100% write off.

Rgds.
Lucifer_au

“Property Investment Support Available. Ongoing and never stopping. PM welcome.”

The difference between your add and Derek’s add is that Derek gives his advice for free (to my knowledge) and you are trying to solicit funds for an investment.

Rgds.
Lucifer_au

If you start adding loans it can complicate a simple system. For example if you go before a judge, your occupant might claim that they have just refused to pay the personal loan part (so he/she part pays the payment for the RE, but not the total on both).

Also you have to tie up an additional $6K, for what??? The banks are demanding a higher…[Read more]

“Rrent roles were an unnecessary burden that should be sold off at the earliest opportunity. Now however, he is offering seminars on how to effectively manage a rent role”

Wow – What a surprise! Jenman has quiuckly found out the boom is over and his sale system dosen’t work in a down market.

I know a guy whom owns a RE agency. Both of his…[Read more]

“We have our own aussies doing it and the money stays in the country.”

L0L!!!!!! Nice one yack!!

According to Jenman the only way to be succesful is to buy one of his franchises.

I find it interesting that Jenman has never supported any type of wealth creation…. As for me? Im very glad that I never followed Jenman’s ‘dosen’t work’…[Read more]

I like Interest Only loans as the create a higher cashflow from my properties. But some people prefer P&I (for the sleepfactor as mentioned above).

Rgds.
Lucifer_au

Yep people are wraping in NZ.

Check out http://www.empowereducation.com/ for books, http://www.propertytalk.co.nz/ for very NZ specific forum, and http://www.mastermindforum.com for general info on wraps – And of course This Forum Too!

Rgds.
Lucifer_au