Herd it today on ABC radio, but in the end I didn’t get to hear (as it went on and on with something to do with water conservation… Grrrr…).

O’h well, hopefully we will find a way so that doing a certain way does not amount to a tax avoidencen scheme… We can only hope though….

Wonder what is going to happen to all these people who have…[Read more]

In some ways it is irrelevant wether a market is booming or busting. Those who have the knowledge will make money regardless.

Saying that though, a down market is when investors really start to make money. Buyers who are desperate are more willing to go along with concepts such as vendor finace, or willing to drop the price way down (so that you…[Read more]

R0FL @ aussierogue.

I don’t particularly think it’s the parents. It’s the way the system has been set up. People have always wanted the latest thing – wether it be a new car or a new computer. But there has come a time where people seem to have switched off and don’t realise that they have to pay this debt off.

Perhaps the reason is because the…[Read more]

I read the book: “if you want to be rich and happy, don’t go to school”, it changed my life. I knew at that point that I didn’t want to be an employee. That was the moment I commited to becomming a professional invesotr (i.e. someone who dosen’t have to rely on a wage).

Rgds.
Lucifer_au

With commercial you will have to put up a 30% deposit so go residential. With residential you can go as high as 97% lends.

Check out Steve McKnights book – ‘130 properties in 3.5yrs’, as that provides a good base.

Rgds.
Lucifer_au

I guess this makes a strong case for using a company, rather than being a sole trader.

Rgds.
Lucifer_au

Putting $1 for rent is kind of like red flaging yourself by walking into the ATO’s head office and yelling “I’m ripping off the government!! Look at me!!” and it will result in you being audited and at the very least having your losss denied by the ATO (Redwing was right). More details required.

Also it seems CentreLink are quite good at this…[Read more]

Why not use a trust to invest in property??
They only have to pay 15% CGT and there money can flow through to the company/lowest paid person.

If you invest through super, you cannot borrow funds to buy property (i.e. get a mortgage. Yes there are ways around, but why not just use a trust anyway…).

Rgds.
Lucifer_au

You might want to check out a book called ‘Money Secrets of the Rich’ by John Burley. It is an excellent book which can reduce your expenses by up to 20% without you even noticing it (for example he gives advice on different insurance (whole life insurance is horrible!), how to pay off all consumer debt within 5-7yrs (inc. your mortgage!), etc. He…[Read more]

I would be real concerned about commercial property, as if the guy disappears you could be left with large non-poerforming property. This poses problems for two reasons, the first is if you try and sell the property (as the value is determined by the tennants (how long do they have on contract, etc)), the other problem is that it can be hard…[Read more]

I think I would have to agree with you. One of the good things about a trust is protection of assets. It would be pointless if that protection would be removed….

Well here hopeing!

Rgds.
Lucifer_au

Only if it was a profitable concern (i.e. you sold the fruit. If it was a tennant just eating the fruit, no).

Rgds.
Lucifer_au

Wow!!!

This is bad news. I feel that we should get a small party together and kneecap the bloke who refused to pay the rent…

What are your thoughts on a company being trustee???
Also what are the implications of lawsuits??? (is the trustee liable for accidents (i.e. some moron trips over a carpet and sues you for six figure sum??)).

Rgds.
Lucifer_au

A company can be a beneficiary, so you won’t pay over 30% tax rate after it’s gone into the trust (and got spent), then into the company (and got spent) and then taxed on whats left.

You say you are thinking of setting up a company to buy properties, but why??? You don’t get any discount to any capital gains you incur… Also how will you control…[Read more]

I give my investors 15%, so it’s not that hard to find a source.
Unfortantly you have to trust the buisness owner / investor. If you couldn’t handle letting someone manage the money for you (and you weren’t interested in buy RE or trading options), then it would probably be best handing your money over to a big company like colonial or vanguard…[Read more]

There is a 1031 exchange in the US, that allows you to reinvest money after selling a property into a more expensive property, without paying CGT (all you do though is defer it).

In Australia there is no law to my knoweldge that would allow you to do that for commercial, let alone residential.

I would be interested if you found out if this guy’s…[Read more]

Becaue bankers aren’t investors, there boring, dumb bankers.

Thats why investors tend to use Mortgage Brokers.

Rgds.
Lucifer_au

Already beat you to it…
http://propertyinvesting.com/forum/topic.asp?TOPIC_ID=10352

Rgds.
Lucifer_au

You have to prove to the bank you have a savings record too. Without that the banks won’t lend you any money, unles you have a large deposit and it is gifted to you. Even then hey still want to see regular income (say from a job).

The reason why banks won’t simply lend on positive cashflow without you having a job is that what happens if the…[Read more]

Double Posting Is bad… Mmmm Okay… But anyway-

Okay, how to get rid off all Trjans and viruses:

1.First run an anti virus software (I like AVG, which is free- go to http://www.grisoft.com/. This app also has internet updates to, and again, yes (for free!!).

2. Anti-Virus software should remove most of the viruses, but it might not delete all…[Read more]