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  • Profile photo of geogeo
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    May 6, 2004 - 11:13 pm

    Hi Glenys,

    Im in Melb but I would say that there are not many investors investing in Adelaide but rather SA – If your looking for an investment property, there are many in Whyalla and Port Pirie.

    If its not an investment property, but rather a PPOR in Adelaide, then contact agents for properties that meet your criteria. Then work back to front, offer the Vendor the option to offer you a Lease Agreement. With a good return for the vendor, Im sure they’ll accept.

    Best of luck

    Kind Regards,
    George.

    “If You never never ask, you’ll never never know”

    Profile photo of geogeo
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    May 6, 2004 - 11:06 pm

    From your post, I assume your still looking for a property that meets your criteria – If so, you need to contact agents in the area as many as you can and tell them what you want.

    Kind regards,
    George.

    “If You never never ask, you’ll never never know”

    Profile photo of geogeo
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    May 6, 2004 - 11:02 pm

    thanks for the details Westan

    can you ckeck your email urgently please – thanks.

    “If You never never ask, you’ll never never know”

    Profile photo of geogeo
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    May 6, 2004 - 10:36 pm

    Thanks so much Kev and Mini for the advice – much appreciated.

    Hey Kev, u said…

    u can have urself as a trustee of course, but that doesn’t protect you if you get sued.

    I never knew this Kev, my understanding all along was that it was protection from being sued. Thanks for clearing that up – Looks like I have to set up a company now aswell for that extra security.

    My understanding was that sure Im the Trustee of the Trust but I own nothing – The Trust does and the Trust cannot be sued only the Trustee can be sued (who is me) but as I said – I won nothing.

    Hi Mini,

    you could just buy the property in NZ in your own name for the moment and then transfer to the trust or whatever later.
    No stamp duty in NZ so not a big deal.

    This is as long as I transfer it into a NZ Trust am I correct because my understanding is that although I purchase a NZ property, if I transfer it later to an Aussie Trust, I will pay Stamp duty but not so if I transfer it to a NZ Trust.

    Thanks again for all your valuable advice and trouble to help out – Just goes to show how[saywhat] clueless I am.

    Many thanks again to you both.

    Kind regards,
    George.

    “If You never never ask, you’ll never never know”

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    May 6, 2004 - 10:18 am

    Hey Kay and Pisces,

    I [heart] you both and I think you are both [angel]

    God Bless…
    Cheers

    Kind Regards,
    George

    “If You never never ask, you’ll never never know”

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    May 6, 2004 - 10:08 am

    Thanks Barry – from now on though, I’ll try to be a bit more conservative[baaa]

    “If You never never ask, you’ll never never know”

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    May 6, 2004 - 10:06 am

    Sure hope so Marisa – he’s a nice guy – great friend just not a business partner…you know what they say “never mix business with pleasure”

    oh well, I learnt the hard way – but sometimes, the hard way is the only way…[blush2]

    “If You never never ask, you’ll never never know”

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    May 6, 2004 - 10:03 am

    Hey Skippy,

    do you have his (Garth Melville at Company Solutions) details?
    Thanks.

    Kind Regards,
    George.

    “If You never never ask, you’ll never never know”

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    May 6, 2004 - 10:01 am

    How many kids you got Terry?[biggrin]

    “If You never never ask, you’ll never never know”

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    May 6, 2004 - 9:58 am

    Hi McWong,

    I tend to disagree – while Monopoly might be right that they are reducing in price towards the end of this year – I think they will sky rocket in value wihin the next 2-3 years especially because of the $356M Eastern Freeway extension they are building just after Balwys towards Donvale.

    Kind regards,
    George.

    “If You never never ask, you’ll never never know”

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    May 6, 2004 - 9:53 am

    Hey Kev,

    how many definetes have you got so far??? – considering it’s Mother’s day…personally I think Mother’s day is every day – ther just too great…gotta love your Mum.[biggrin][biggrin][biggrin]

    kind regards,
    George.

    “If You never never ask, you’ll never never know”

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    May 6, 2004 - 9:50 am

    Hey Monopoly – I have a [idea][idea][idea]…get your children to take you to the Blackburn Hotel this Sunday…hehehhe[biggrin][biggrin]….and just say ‘excuse me kids, I’ll be back in a minute – Nature calls’ then run off to our meeting….hehehehehehe[specool][:D][biggrin][cheesy][happy2][laugh][laugh4][laugh3][laughing]

    ..or better still, get them to sit in on the meeting[specool][:D][biggrin][cheesy][happy2][laugh][laugh4][laugh3][laughing][specool][:D][biggrin][cheesy][happy2][laugh][laugh4][laugh3][laughing][specool][:D][biggrin][cheesy][happy2][laugh][laugh4][laugh3][laughing]

    “If You never never ask, you’ll never never know”

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    May 6, 2004 - 9:44 am

    Hi there,

    Do a budget (even on Excel) outlining all your expenses if you were to keep paying rent yourselves verses paying off your PPOR. Also note in the budget the rental income while paying off your PPOR versus yourself to keep renting. Outline in it all the pros and cons of the alternative paths to take.

    Personally I would do both. Try planning to commit half the income towards paying off your PPOR and the other half towards an investment property. Better still, if you get the right property that is +CF, the +CF coming your way from the tenants in that investment property will help pay off your PPOR [biggrin][biggrin][biggrin]- Do two things at once.[biggrin]

    I tend to lean more towards owning your own home out-right – just in case something happens – you always have a roof over your head as security.

    Kind Regards,
    George

    “If You never never ask, you’ll never never know”

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    May 6, 2004 - 9:33 am

    Hi James,

    Do a search for ‘Partnerships’ – much info on this topic is on this site.

    I have had ‘hard’ dealings in partnerships. My suggestion would be that if you could do it alone – then go for it. If your only alternative is via a partnership, then first things first – go to your solicitor and request that he/she draw you up a ‘Partnership Agreement’ contract. This states all you and your partner’s responsibilities in the partnership and all appropriate clauses just in case one of you wishes to exit .

    Hope this helps.

    Kind Regards,
    George

    “If You never never ask, you’ll never never know”

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    May 6, 2004 - 12:55 am

    Hi Westan,

    Jeff just made an interesting point. I’d call Steve direct and ask him what he did and whether he had to pay tax or not. I would believe Steve has been in exactly the same boat. He has NZ investments and Aussie investmenst just the other way around – I mean he is an Aussie resident.

    Hope you find out soon and it goes well for you. I guess the fact that we can’t help you that much proves that we are not at the level of your expertise yet in investing.

    kind regards,
    George.

    “If You never never ask, you’ll never never know”

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    May 6, 2004 - 12:46 am

    Thanks Kev, Jeff and Barry,

    Ok I don’t mind having my family members as beneficiaries – if this would help, I don’t mind. So I will be the only Trustee of the Trust, the Appointor, but one of many Beneficiaries.

    Ok – now the big question.
    Do I set up the Trust as an Australian Trust or a NZ Trust? and Why?

    Also, anyone know how long it takes to set one up?

    Many thanks to you all.

    Kind regards,
    George.

    “If You never never ask, you’ll never never know”

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    May 5, 2004 - 10:05 am

    Thanks heaps Barry – talk with you soon.

    Kind Regards,
    George.

    “If You never never ask, you’ll never never know”

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    May 5, 2004 - 9:15 am

    Hi Terry,

    I couldn’t access the site…any help

    “If You never never ask, you’ll never never know”

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    May 5, 2004 - 9:11 am

    Yes MH – post some real good riddles of yours under FF[biggrin][biggrin][biggrin] – thanks[biggrin]

    “If You never never ask, you’ll never never know”

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    May 5, 2004 - 8:58 am

    Best of Luck with us both Melbear – I feel your pain…

    kind regards,
    George.

    “If You never never ask, you’ll never never know”

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