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one thing to bear in mind when deciding whether to buy a property in a trust or in an individual name is whether you anticipate the property will earn income or not. If it is eg a negatively geared buy and hold and the trust is going to make a loss this loss is trapped in the trust and cannot be used by the highest income earner to offset the tax they otherwise would be paying.
my very first investment decades ago was two kilos of silver when the bunker hunts cornered the market. to my amazement after buying the first kilo for $500 it went up to $1500, then I bought another at about $1100 expecting it to go up again and it just slid down and down and down and was worth about $200 a bar for the next few decades. made great paper weights
the black box for saving the dog and Ron Whites Mary Kaye Karmic story reminded me of my own Karmic experience at the conference. Day 1 I was in the queue for a few minutes lining up for my goody bag. the lady behind me recognised me from a queensland conference two years before and said she had always remembered me because I had been apparently very kind and generous. We chatted for a while and I mentioned how I was getting desperate to find Perth accommodation as I was moving from Melbourne in two weeks and it was almost impossible to secure accommodation. The lady in front overheard our conversation. to cut a long story short she had been told by a friend who was vacating an incredibly cheap house in Perth to look out for someone decent to take it over. And to cut an even longer story short I now have a lease of a Perth house and have made two good friends. so that is my sliding doors moment and really glad to have met you Diana and Julie! One thing Peter Daniels advised in his life rules was to always have life insurance. My beautiful husband died aged 46 in 2008. so i can only advise all of you guys who are investing that sometimes life does not unfold as you expect and if you are caught out heavily geared in property investment without cash flow or more importantly the mental state to do the myriad of things that need to be done when you are developing and renovating a number of properties and all you can do is leave the key under the brick and let the dust gather let me tell you the sun still rises and sets as if nothing happened and death taxes and also banks wanting interest are the other certainties. soon the bank will realise the cookie jar is empty so get some life insurance as I should have and take lots of photos not just of cute children but put yourselves in the pictures. Anyway I am pinning my ears back and getting on with it and have gorgeous children and sorry for the gloom. Wasnt the conference great though? So much wisdom from so many successful people. Really glad I went. Hope to do it again next year.
I really enjoyed being at the conference. I knew there would be people there selling their product but I found it really stimulating to listen to the speakers and consider what they were saying. I bought the aussie rob stuff in 2008 and it was a complete disaster. there was no support at all and no one actually taught you how to lay the trades even though that was part of what you paid for. anyway I spoke to rob at the conference and hopefully there is a way forward and i will try it all again. when i paper traded I did really well.
I was only disappointed that it was put on over the mothers day weekend. as a mother to four children who wanted to spend time with me i had to leave at lunchtime. all steves presentations were brilliant as always. he has such integrity and is so switched on. i am keen to do the tax liens and maybe some property options once I get my head above water. I loved dean and elise. they are such a great couple and deserve their success. really the price was incredibly inexpensive for three days which went to 9.30 at night! seriously many conferences I go to cost over one or two hundred dollars for only an hour or two. I was in rp3 and highly recommend the results mentioring program. it is everything it says and eventhough I am an experienced property investor I was always learning things. And they really are always available to talk to you. I didnt buy anything but would have loved to have been able to go to the tax lien conference and sign up for the options and do the carly crutchfield stuff but it is all going to have to go on the backburner while I improve my liquidity. So much great information came out of the three days. it was brilliant and i am just so glad that i had the chance to go at such a reasonable price. congratulations to all involved in putting it together especially Steve and hello to Simon who was my mentor way back in 2008.
Well I can live until 2032 so I am a little bit amazed. I suppose when money is tied up in property it doesnt feel like real money that you could use. Its made me wonder a bit – like how great it would be to sell everything and just live off it!
Hi Max
I'm in the south west too. Iwould be interested in discussing any JVS too.fitzydarling
