Forum Replies Created
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_auProbably the easiest place to buy for an ‘Aussie’ for overseas property is New Zealand. There are many posts on this (that are far more quailfied than me!) so do a search.
Rgds.
Lucifer_auThis I guess would come up as being a transaction that is simply trying to avoid tax, so you would be prosecuted if you did it for the tax benefit.
Rgds.
Lucifer_auI know when Shell signed the Coles deal the Shell execs were popping champange corks all over the place. Apparently Coles is losing something like a 1c per litre and is paying $20,000 a month as a lease payment (I don’t know though if Shell Servos have to buy product from Coles or if Coles actully runs the business, or takes nearly all of the profit.
I think Shell would be happy with their decisiion to stay in Aust.!
Check out: http://www.brw.com.au/Edition.aspx?ediid=1074
Or the Business Review Weekly, 1st of July Edition.
Req Reading if your a coles shareholder! Ouch!Rgds.
Lucifer_auThere is a book called “Powerful Changes!” by John Burley (investor) and Bryan Fergus (wrote a book called the Spirituality of Welth). It should be in most bookstores.
It’s good, but have a flip through it and see if it was you want.
Also the Celestine Prophecy and Thick Face, Black Heart are good books too.
Rgds.
Lucifer_auJeez!!
5 out 5 for 5 reviews!
In my opinion his courses and materials are excellent.
I know quite a few wrappers and many people who have been to his courses and retired (okay, I know 4 personally and know of about 7-8 more, one of them being Steve McKnight who also gave a Testimonial to his Aussie book ‘Money Secrets of the Rich’ which is an excellent book (and pretty good review too Steve!!)).Heartily Recommended by me.
Also I’ll just do a mini ad – I know a mate of Mr John Burley is giving a talk for one whole day about creating layers of income. Cost is $115 and dinner afterwards (there will be about 10 wrappers their, as well as a few other people – even from this forum too!).
Rgds.
Lucifer_au“Alf, If you are not satisfy with NAB just walk away….”
Or run…
Rgds.
Lucifer_auSalubrious is right…
As for Queenstown… Well I guess it’s a good buy if moon craters are your thing and I hardly see any massive increase in prices there (well at least untill they can afford a tin of paint on the outside (and perhaps use the same colours on the inside!).
Rgds.
Lucifer_auWhile brokers seem to get a good deal with the NAB, I know many people who have hd nothing but problems with them. I agree with FW – they are the greediest bank of the big 5.
I don’t deal with them at all (nor do I borrow from them) – their products seem pretty standard and their customer service sucks dramatically. I’ve yet to hear of long term story which involves good experinces and the NAB (from a customer perspective).
Rgds.
Lucifer_auSteve seems rather more interested in doing deals than talks, though he has just announced a talk (which is now well and truly sold out!). I know Rick Otten still does courses, but when I go to his website (google Rick Otten) and onto his wrap course page it sounds very gimiky to me
“I have a contract right here in front of me (which I will bring to the event) which shows I’ve just purchased a home for $250,000with a deposit of only $1,000! “
Well I’ve actually bought a house with no deposit (okay so the house was only worth $150K, but still, oh and you still have to pay the remaining deposit).
My thoughts is that you should continue reading Steve’s book (and watch out for his soon to be released one), check out John Burley’s material (U.S. based wrapper) and post lots on these very forums, there is a wealth of knowledge here.
Rgds.
Lucifer_auAahhh.. thats why I couldn’t log on….
Space junk indeed!!!
Rgds.
Lucifer_auThe best:
• Reclassifying the dead horse as “living impaired”.
Rgds.
Lucifer_auYou earn $30-$40K right???
Can you come up with 10% for the purchase of a house? ell the get a 97% loan (the 97% pays your mortgage insurance), and the rest of the money is spent on closing costs. It’s not that difficult to buy alot of properties if their relativly inexpensive (so on a $60K property, $6K for deposit and closing).
Rgds.
Lucifer_auAnswer 1: Yes but only if settlement occurs 12 months from the purchase date.
Answer 2: The highest LVR is 70%, though some banks go a bit higher (depending on risk, experience, etc).
Answer 3: I have been told that while banks like grantors they won’t approve the loan just because you have a grantor.
If your not doing it for this purpose I would highly suggst you place the asset in a trust, as you can channel funds to the lowest taxable income thgrough the trust, alos if you get sued you don’t losethe property.
While you could put both names on the title (the bank holds a first mortgage over the property, so they don’t care too much who holds the title), but I question your motivation for holding it in two people names… You limit the other persons borrowing capacity while providing very little legal protection…
Rgds.
Lucifer_auWell a trust, since if you hold a property for more yhan 1yr you get the 15% CGT discount, also you can distribute any income to the lowest taxed person.
Companies don’t get the CGT discount so I would advise aginst them to hold property (but they are good for being the benefactor).
Rgds.
Lucifer_auUsually you will find the discount code in the back of some of the purchases you’ve made (for example look at p387 in the back of Steve’s 130 Properties in 3.5yrs).
Hope this helps a tad (and btw you can’t claim a discount after you’ve bought the products!)
Rgds.
Lucifer_auI agree with the same sentement of Pelican.
I was even going to PM and complain.. but theres no PM for you
And then I couldn’t find your email.. and then forgot about complaining….But I have been reducing my posting quite considerably, and I know someone who was new and now dosen’t tend to post because of all the conflict in that section of the forums…
Congrats on being sold out in your seminar!
Great info for a great price!Rgds.
Lucifer_auAAArgghhhh!!!
Not another felicity…
(There is a wrapper on this forum who is called felicity, and I know another one, so thats 3 now!).
Rgds.
Lucifer_auW0W!! Lots of looks… but no replies….
Ain’t anyone comming??? Well apparently when I spoke to the ticket people there is 8 seats left….[tongue][biggrin]
Rgds.
Lucifer_auHere is the quick link so you don’t have to be brainwashed into thinking eating McDonalds is good (or bad… who know what message their sending out…):
http://www.mcdonalds.com.au/WirelessStores/mainpage.aspRgds.
Lucifer_au
