Doing a wrap is a sophisticated strategy. And right now there seems to be an awful lot of pressure on wrapers. Just recently Consumer Affairs Victoria is taking a wraper to court…[Read more]

Tip:
Always put a get out of jail clause in your contracts.

Tip:
Always keep learning.

Tip:
Find a niche/strategy that is succesful and then repeat.

Rgds.
Lucifer_au

A child should be learning about money from day 1? Why because most people work all their lives for it, why shouldn’t they know about it and decide wether they want to do the above.

Anyway Kiyosaki wrote 3 books on it and is doing quite a bit to increase fin. edu in schools:

>If You Want to Be Rich & Happy: Don’t Go to School?
This book is…[Read more]

If you can afford it and usually you can raise rents in a yr. or so to make it CF+, but of course it depends (the levels of rnetals, vacancy, etc).

Rgds.
Lucifer_au

Check out http://www.jaffasoft.com and click on the positive cashflow calc, it has the defaults as standard.

Vacancy Loss (%) – Usually 4 weeks
Insurance – Around $350, but can be as high as $450
Maintenance – Usually 5%
Rates – Between $500 to $1,500 for residential
Taxes – Depends, are you using a trust?, are you neg. gearing?, etc
Current…[Read more]

Only a few more – but the amount of paper work!!!!

Rgds.
Lucifer_au

It really depends… If I’m looking for Cap Gain – a fast growing area (property tends to trend long term, so a fast growing area this yr, will probably still be a fast growing are next yr., of course you have to beaware of booms, etc), where as with CF+ I’m looking at an area that has at leat two independant industries (so farming and fishing for…[Read more]

Our distinct personality, The Prime Minister might be found in most of the thriving kingdoms of the time. You are a strategist who pursues the most efficient and logical path toward the realization of the goal that you perceive or visualize. You will often only associate with those people who can assist you in the implementation of your plan.…[Read more]

http://propertyinvesting.com/strategies/wraps.html

This should give you some info.

Rgds.
Lucifer_au

Perhaps it would be better to put more effort into State branches and have the federal branch more to do with lobbying the Fed. Gov.

I think State branches would help more as it would be easier for members to meet up and also the State branches could lobby each of the State Govs. directly (kind of like Real Estate Institute of Australia (REIA)…[Read more]

dotechin I am not saying you cannot get an extra $120. I’m just saying it’s best to get to a position where both sides win. For example if you can get the $7K FHOG from the new buyer it provides some profit, also if you add an extra $20K on the sales price (you must be resonable on this though), you have made a further $13K ($20K End Price – $7K…[Read more]

Pre-Nups don’t really work.

First of they only last for a maximum of 10yrs.
Secondly (and the real problem with them) is that they don’t have any flaxibility for change of cirumstances, so if you buy a whole heap of houses then it is basically outdated.
Lastly the family court can completely ignore what is written in a prenup (though they usually…[Read more]

I think way too much can be read into this Julian2. Basically all their IPs were positive cashflow, so in they were ahead.

In terms of nett worth (assett value minus debt) I think it’s a bogus figure. Mainly because it is very subjective, can change daily and in fact dosen’t tell you very much.

For example say you own a building that costs $1Mil…[Read more]

In the US their is something called a like kind exchange or a 1031 exchange, basically you can sell your property and then upgrade to a larger property.

In Australia it dosen’t apply (at all!).

Rgds.
Lucifer_au

Just a note, I know Westpac apparently dislike 2nd mortgages!!! They’ve apparently called a few loans in. I don’t know if it was disclosed or not.

Rgds.
Lucifer_au

In terms of investing being a RE agent (or lawyer, etc) dosen’t really help, mainly because with being a RE agent you are selling properties not investing in properties. The only exception is if you are being a RE agent in an area you invest in (you have more opportunities to find deals).

I would recommend you do a variety of courses, and find…[Read more]

I would speak to an accountant who knows about trusts if I were you.

Rgds.
Lucifer_au

Knowing of Michael Gruber I also follow Pelican’s lead in saying he has done fine service to the VFA and wrapers in general.

VFA has seemed to disappear.. I too wonder what has happened.

Rgds.
Lucifer_au

Kill the credit card debt and use those extra payments as savings. That will make your investing much easier!

Rgds.
Lucifer_au

This is the main problem with negative gearing, it can greatly affect your servicability. With positively geared properties it increases your servicabliity, hence if you can still get deposits you can buy an almost unlimited amount (you may have to go to different lenders, etc).

In terms of assets banks usually only want the mortgage over the…[Read more]