Forum Replies Created
Hi again,
When I found my first good property, I found a good broker – he managed to get me a fixed only interest rate of 7.1% on a commercial property. I was rapped – over exited considering the interest rates on Comercial were 8%. Anyway, he was good and so were his interest rates UNTIL I came across this friend of mine (didn’t know she was a lender) -listen to this – she got me fixed interest only for 5 years at 5.99% with the CBA.
Try getting that is virtually impossible – I don’t know how she did it – but she did – so if you need her and your in VIC, just email me.
If You never never ask, you’ll never never know”
Hi Spi,
I started – infact – am starting quite the same way you are. There are many ways to get finance – good on you for finding positiv cashflow properties. you can get a money partner – but if you wish to do this by yourself – email me if your in VIC – I know a good finance lender that most likely could help.
Kind Regards,
George.If You never never ask, you’ll never never know”
In Victoria – that is allowed
Kind Regards,
GeorgeIf You never never ask, you’ll never never know”
Hi,
A similar post was made on General Investing – go to that forum and its on the first 2 or 3 pages – you will find a lot of links to other sites. Best of Luck.
Kind Regards,
George.If You never never ask, you’ll never never know”
email the moderator or admin staff
Kind Regards,
George.If You never never ask, you’ll never never know”
Hi,
Flips and wraps and leasing options are all ok as Steve talks about it alot. But to get personal with others on the forum… I mean to say how much your charging for a flip and the details of that flip, it’s best to email that contact personally and send them that info – I wouldn’t do it on the forums. I guess this forum is to be used to ask questions and have them answered – not to create deals with others – but you can say you are interested in this and have others email you directly.
Kind Regards,
George.If You never never ask, you’ll never never know”
your on the right track and you understand the concepts well – good on you
Kind Regards,
george.If You never never ask, you’ll never never know”
it will cost time and money but you need to do it – that is call the agents up and ask them – the advantage to this is that you build up a good relationship with them
Kind Regards,
George.If You never never ask, you’ll never never know”
Well done to your great investments
Advice you ask…your doing quite good yourself…but my advice is to KEEP THEM…find ways to get more money – do not sell
If You never never ask, you’ll never never know”
Man these forums can get hectic – just so many my brain is going into verload mode – that means switch off mode
If You never never ask, you’ll never never know”
Hey Steve – love your signature – really great – “Knowledge is Power”
Hey Breakingout,
Best to set up not only a Company but to set up a Company Trust. The only real disadvantage from a partnership is the upfront costs of around $1,500 – $2,000 and that it gets taxed at a flat rate of %30. But the advantages are many as Steve said – especially the legal liability.
Best advice I can give is to speak with your accountant and solicitor. I spent 30 minutes the other day talking with my acccountant – asking him everything and also spoke with my solicitor – they are a wealth of knowledge and support. To explain everything here, would not be viable.
But ask them questions to explain such things as:
– Discretionary Trust
– $1 Share
– Shelf Company
– Trustee and Trust
– BeneficiaryNote that if you already have properties in individual names, you will incure double stamp duty to transfer these properties into your Company Name. The other thing you could do is Purchase Steve McKnight’s ‘Wealth Guardian’ – that talks alot about Company’s and Trusts. Best of Luck.
Kind Regards,
George.If You never never ask, you’ll never never know”
hi,
I do have one on my other PC…it shows population and other status ( is that wht you’re after)- can’t get it right now though – make sure to email me and remind me – im usually a very forgetful guy – and then I’ll email it back to you in the next couple of days I hope.
Kind Regards,
George.If You never never ask, you’ll never never know”
Be sympathetic with the solicitor and also show him your concern in regards to financing their bill. Best advice I can give is NEVER demand to be billed later. Tell them that you understand where their firm stands but that you would greatly appreciate it if you could pay after settlement. Also tell them that you’ll need their services greatly in the upcoming months – this shows that they will keep your business in the future by having a little lenience with you now. Best of luck.
Kind Regards,
George.If You never never ask, you’ll never never know”
BE CAREFUL!!!
units in the Docklands are way overpriced and with several more apartment blocks going up in the next two years – they are going to be way over supply – so be careful – your right – the best area is new quay in all of Docks – but they are expenseive and definetly do not return positive cashflow – you’ll have to sit on it for about 10 years I would guess to get Capital growth from it – considering the over-supply of appartments.
Kind Regards,
George.If You never never ask, you’ll never never know”
Hey Andy,
hhmmm…UK hey…
it seems you are looking for capital growth and not positive cashflow…a suggestion would be to purchase a block of land in a good area and build a holiday home on it…you can call agents and ask them about land – but from my researching, these are alot harder to let out than homes or units in the country…hence the term ‘holiday’
if its positive cashflow you are after, then thats different – i just found a unit in a holiday resort that the managers rent out and has good returns…WA does seem like its booming…thats all I can help.
Kind Regards,
George.If You never never ask, you’ll never never know”
hI again,
just another thought…
what most ppl do is open a Trust account in NZ separte from their investments in Australia – that way there is no additional taxes imposed on you by Australa. The one thing about the NZ government in regards to foreign investors is that it is very very hard – in fact, I believe impossible for you to obtain a loan from Australia – like the CBA – for an investment in NZ. Either way – you can do further research into this by just calling the Taxation office – im sure they are awre of the tax considerations pertaing to NZ aswell or they can gconnect you with the Tazation office of NZ.
Best of luck.
Kind Regards.
George.If You never never ask, you’ll never never know”
Hi
heres your answer…
there is NO Stamp Duty nor Capital gains Tax – isn’t that great…go ahead an invest there…[biggrin]there are some real good deals…i’m planning to head there myself in the next 3 weeks and try to secure a property.
Kind Regards,
George.“If You never never ask, you’ll never never know”
Hi Yack and Mini,
you seem like legends – both of you – you argue with such passion that I love it – it shows your true zeal and inerest in property investing. I can only wish others had teh same idea (as in my parents) – there all hyped up about working hard in a ‘secure’ job…hehe.[thumbsdownanim
Yack – trust me – ask as many questions as you can possible to as many people as you can possible. I ask the mechanice questions when he comes to fix my car…I ask my cousin the plumber questions on how to change taps, washers, pipes…you name it, I ask it.
I also thiught Steve mentioned he got upto 200 properties, then sold some and was now sitting on around the 150 mark. He still closes a few more, but lately he’s been spending all his time writing info packs like the ‘Wrap Kit’
But to know exactly what he does…buys or sells and why…pop him an email or try calling him up or even ask one of his admin guys…im sure they can help.
Kind Regards,
George.“If you never never ask, you’ll never never know”
Hi Tridean,
I agree with Kay – ask him around again and ask him as many questions as you can possible. then read as many discussions on the issue as you can on this site and do a few searches on the topic. then finally make your own decisions to which best suits your lifestyle. However, from reading your issue. I strongly believe he is looking at investment properties with taxation purposes in mind.
sign up for the free newsletter – he mentions it in them and constantly check this site
on the left – go to Online Shop
take care
