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As far as im aware options are fine, just about all commercial transactions are completed in this manner especially land purchases. Many companys purchase an option on property, find a developer then sell them the option, thus avoiding stamp duty. if this is no longer legal please advise ASAP.
go to a few auctions and then tell me its about to bust, i dont thinks so! although i heard last night from an insider that RAMs, Wizard etc can no longer obtain mortgage insurance for cbd southbank and docklands, thus they are no longer lending money in these areas. Stick with spillover suburbs to the east and west where theres no oversupply.
Im currently researching footscray, I believe its proximity to the CBD, large period style housing stock, proximity to restaurants etc and the growth in the surrounding suburbs will definitly make it a suburb to watch in the next 5-10 years. With 400-500k you could buy something really nice in seddon or yarraville which have become very trendy in the last few years, to the east Thornbury, preston, fairfield and Northcote have the makings of real movers.
Make sure the head lease is an extremely secure well known company, banks tend to stay away from small accomodation below 50m2 as the believe it to be unlivable. Due to the size, the actually real estate is worth very little, thus If the head lease was to go under you would be left with an unsaleable apartment.
what if they were to board as apposed to rent, would this change the situation?
ph: 9650 0550
email: [email protected][?] If the person you on sell too cannot settle with you, you would be able to cash there deposit correct?
Brandi & co in carlton seem to know there stuff, they specialise in property investment.
So essentially you would pay more tax as opposed to claiming asa capital gain?
Gather as much evidence of higher sales collate it then ask the bank for a list of valuers they use. organise a valuation and be there when its done. show the valuer your evidence and you may have a fair shot at convincing him and the bank. remember that a valuer may do 8 or more valuations a day. this means a hell of a lot of travelling and research. If you can do some of that research for him, as long as it is backed up by evidence im sure he would be happy to take that info on board.
actually the ASIC case is not directly related to hk but to a consultant working for nii, this specific case has been blown out of proportion.
hi implementor, I have completed HK courses in the past and believe I have seen the good and bad of nii. One thing to remember with hk is that few people are genuinely able to do the things he does + he is a salesman a master of the anti sell and “create pain” type of selling. No doubt you will have picked up some powerful info which im sure could help you make back the 15k however i now believe that in the end hk is out there for himself. i purchased a property through pcg another hk company. Iooking back im amazed how they pressured me to purchase the property preventing me from doing everything that i was taught by hk to do eg massive due diligence! after much research i realise i have most probably overpaid by 10-15% + i paid a rather large sourcing fee pushing the price closer to 20% above market!! hk is not a messiah, he is a salesman that may or maynot want to help people, at this point im undecided! ill tell you what i think once i settle.
One strategy i have encountered is a unit trust feeding a family trust. when you apportion cg to the beneficieries you aportion as much as possible to low income earners, eg children grand parents, this reduces accessible income, the great thing is you never actually have to hand over the money it is simply a paper transaction so the money is still yours. I dont know the details but it sounds great if you have young kids.
make sure you get a quantity surveyor in to maximise your depreciation. Id also look at tax structures such as a unit trust feeding a family trust or self managed super fund. This can enable you to reduce your tax significantly.
Hey all. I completed an NII course a few years ago. Ive continued to go to various additional events with them over the past few years. The information within the courses is very good however the way in which they constantly try to sell you more stuff and the way they go about it, in my opinion is unethical. Henry Kaye is being investigated by ASIC but its a civil case not criminal. A word of warning, read the transcript from four corners on the ABC site about get rich quick gurus, henry is discussed within this transcript, it may be enlightening.
