Forum Replies Created
what does Rivkin’s death have to do with the general property forum?
To get a good sense of what types of development will be allowed in different regions in S.E. QLD & to see future infrastructure & transport route plans, it is worthwhile having a read of the these documents:
1. Draft South East Queensland Regional Plan (available at http://www.oum.qld.gov.au)
2. South East Queensland Infrastructure Plan and Program 2005-2026 (also available at http://www.oum.qld.gov.au).
Cheers,
Jason.I guess acquiring the 3-4 properties will be no trouble. In theory, you (or anyone) could borrow 100% of the funds needed for this purpose.
Another issue to consider is whether there will be any problems with cashflow?
For example, it is unlikely there will be much capital growth in the property market (generally speaking) over the next 3-4 years.
Also, $50K p.a. may not go very far, especially with the extra expenses of having a family.
I’m not sure you could achieve all your goals in the next 3-4 years but as suggested above, someone in the finance section may have some good ideas.
cheers,
Jason.My understanding is that Steve explains positive cash flow as a basic calculation (before tax bebefits)of the weekly profit of owning the property i.e. rent received – loan repayments = positive result and money in your pocket.
This is a very basic explanation.I’ve heard this strategy referred to as “how to go broke while making a profit”.
From my point of view, the overall profit or loss after tax is the only thing that matters.
cheers
Jason.Getting there…
You should ask the people at network marketing (read “pyramid”) school to come up with some new sales tactics…selling the dream on all bluster & no substance is sooo yesterday.
In today’s economic climate, i think you’ll find most experienced investors won’t buy promises.
But then again, they say there’s one born every minute, so maybe you should just keep plugging away.
cheers
Jason.Hi bwendan,
I’ve never heard positive gearing descibed in that way debtdogg described it.
From my point of view positive gearing and positive cash flow are exactly the same.
cheers
Jason.HOUSE, HOUSE & MORE HOUSE…
You get land, and no Body Corporate!!!
Jason are you seriously suggesting that she take $20 per week from her 16 yr as board…I understand her financial situation from what has been described as tight, however, taking money off your child IMO, is contrary to not only parents responsibility but just wrong.I don’t have any children but I pay 48.5cents in the dollar tax to fund schools that I don’t use, so I guess I feel that the 16y.o. could handle paying $20. Doesn’t seem any less fair than me paying my hard earned dollars to subsidise the 16yo’s education.
cheers,
Jason.Hi techhowse,
Easy Street Financial Services has an online savings account paying 5.65%p.a. paid monthly, with no risk & ready access to your cash. Only need $1,000 minimum balance. Being paid monthly means it compounds 12 times per year (as opposed to say a term deposit that only pays interest on maturity). This account has won awards for best online account for 2-3 years in a row.
Hope this helps.
cheers,
Jason.Hi nowork,
My strategy is to buy into the highest quality asset I can afford in each asset class (ie, whether it is property, shares, cash, or any other alternative investment).
For my situation, this makes more sense than focusing on accumulating several cash flow positive properties.
cheers,
Jason.Dazzling…you are on FIRE !!! I agree with you too….
Recently bought an IP & apart from the 9.9% in fees the PM offered to charge us for their “expertise”, they said we would only get $315/wk.
We placed a $60 add in the paper 2 weeks before settlement and we had a tennant paying $360/wk + pool maintenance costs, the day after settlement.
cheers,
JasonHi Michael,
Congratulations on following up with customers & taking an interest in evaluating the effectiveness of this aspect of your business. [specool] Hopefully, others will follow your example.
I have recently purchased a book from your website & it has given me some ideas I hadn’t considered previously.[biggrin]
cheers,
Jason.Hi Michael,
Do you know of any surveys or the like that discuss the proportion of people who self-report that they have made significant financial gains as a result of attending seminars?
I was just wondering if anyone does this style of survey? It would be intersting to see the results.
For example, it may be that everyone benefits to a low to moderate level, OR it may be that a few benefit substantially while the majority benefit very little, OR something else altogether?
cheers,
Jason.Hi broach,
Probably all of the following suggestions will hurt to a greater or lesser extent…
If you have the money to pay the extra in mortgage lenders insurance, you could ask if your lender would let you borrow the $30K & add the LMI to the loan ???
Personal loan? depends on your cash flow situation I guess.
Can anyone (relative or friend or anyone) loan you the money?
Hopefully others will contribute some more creative sugestions.
cheers,
Jason.Hi loanwolf,
when you say you would like 10% in the short-term, what timeframe are you looking at?
You can put it in an online account and get 5.65%p.a. paid monthly, with no risk & access to your cash. But if you want 10%, it will mean more risk. Generally, the shorter the timeframe, the greater the risk.
Cheers,
Jason.Congratulations…good to hear you got a positive outcome!! [biggrin]
Uproar in WA
Hey we’re still smarting about the fact that a female proprety owner (investor) is losing her house under the proceeds of crime act as her tenants were using the house to grow/sell marijiuana.A guy on 6PR Radio rang up the other day wanting to know what to do, his parents rent thier IP privately and the son did the last inspection; he saw one room had been converted into a green room (literaly) his quandory now “do i tell the cops? and if i do will my parent lose thier house?”
I believe we as the Property Owners also have to ensure that if your tenanthas a potentialy vicious (protective or scared) dog- then you as the PI are responsible for erecting a “Beware of Dog” sign..
I also got a letter some time back regarding shower screens and that you are required to replace them if theyare not safety glass due to a tenant falling through one and slicing himself open, again you are supposedly liable..yet in a meeting i went to the commercial buildings only had to meet the fire code of the day when they were built, they dont need to be upgraded to todays codes even for the basics such as a fire panel (and there are numerous people in the buildings 24/7)
Interesting post..all part of the joy of owning property, hey!!. Although, all the above issues relate to a property owner’s legal liability at common law, not workers compensation insurance (just keepin’ the thread on track).
cheers
JasonMonopoly got it right, I’m questioning why landlords need it, when it is for the protection of employees.
This question has still not been answered, so it still sounds like BS to me.[V]
Can you change it…yep…just don’t pay it. I can’t believe people would blindly pay this without any explanation of why they were paying it!!!![blink][dazed][dazed]
Anyone care to explain why IP owners would need to take out workers compensation insurance?
cheers,
Jason.ooops…i think the $5M came from one my earlier posts…[blush2]…sorry…
I hope you do get approval you need. I only ask about this because one of my companies is involved in projects with the venture capital community and I have learned to become very wary of blue sky valuations based on verbal reports…when it comes to businesss, I live by the motto “if it isn’t in black & white – it doesn’t exist”.
Best of luck. [biggrin]
Why would residential IP owners need workers compensation insurance? Sounds like BS to me.
