Forum Replies Created
- Originally posted by ANUBIS:
…. I have a silent number and have never had one. It’s a pain but it might be worth changing your number and making it silent (about $3 per month).
Hi Anubis
And thanks for your expertise. Re changing my numbers and making them silent:
1. We have 2 landlines, 2 mobiles, stacks of letterheads and business cards already printed and extensively distributed.
2. Scrapping all these phone numbers and learning new numbers by heart is an issue with us.I also feel changing these numbers and making them silent is like admitting defeat. The “Keyboard Warrior” in me wants to give Telstra /Australia Post /Ombudsman etc etc a decent shakeup before I accept defeat.
I hope you’re happy to keep lending your expertise and street smartz if we need to call on you.
Cheers
GregOriginally posted by MichaelYardney:
The simple answer is you have a line of credit on the increased equity in your properties. Then its like having a big credit card – and you draw doen when you need itHi Michael
Because of the quality of your posts I’ve just subscribed to your newsletter, and my wife and I are checking our diaries to see if it works coming to your Brisbane seminar on the advertised date.Re the LOC I already have one with my reasonably large portfolio. However, my accountant warns me to keep a clear distinction between “Investment” and “Private” expenditure. Am I missing something here, or do I need to get a new accountant? [biggrin][biggrin][blush2][biggrin]
Cheers
GregOriginally posted by Michael Whyte:Quote:Greg, He he… Actually, the Africa trip was the “planned” second honeymoon, sailing in the Whitsundays over Christmas was just a repeat of the activity which was the first honeymoon….[biggrin] Well, we’re back now (2 days ago)! Jaffa, any news on the meeting? Being Sydney-siders we won’t be able to make it but I would be interested in opening up discussion on all things Bundaberg.
Cheers guys, Michael.Hi Michael
Don’t keep us drooling, tell us about Africa!! (ie., make us drool some more [biggrin][cap]) With such high consumption, how can you and Kay afford to invest? (just kidding [cigar])
And Jaffa, did you get my reply to your PM?
Keep in touch, both of you, okay? We’ll be passing through Bundie sometime soon.
Cheers
Greg and NikiOriginally posted by ANUBIS:It will be tough to legislate against calls originating in another country – particularly if they use predictive diallers from a database…. They may have programmed in all phone numbers from e.g. 02 8000-0000 to 02 9999-9999, record which are valid and dump those that are not. This can be done with any half decent CRM system -the person calling you follows a script on the screen and enters your response so a profile starts to build.
Hi and thanks again to everyone
Anubis, I’m impressed with your specific, detailed knowledge. Are you in the direct marketing industry, or have you just picked up your knowledge re predictive diallers /CRM systems etc around the traps?
Do you know any other websites apart from the http://www.adma.com.au one with its “Do Not Call Register”?
Cheers
GregOriginally posted by medemoz30084:
thank you for that info, much appreciated. JanHi Jan
As you’re a forum newbie, I’d like to support you by showing you how to search this site for past posts. I clicked on Search in top LHS of this home page, put in keywords :
~ due diligence
~ demographics
~ statistics
~ population
and it gave me 202 pages of posts to read!!The search I did is:
https://www.propertyinvesting.com/forum/search.html?mode=DoItAlso, click “Members” in top LHS, go to the letter M and look at Monopoly’s past posts. She often gives out stacks of due diligence websites to people who ask. Maybe you can PM her, dobbing me in by saying Greg F suggested you PM her! I don’t think she’d mind.[biggrin][biggrin][cap]
Happy reading.
GregOriginally posted by collie:I want to acess my equity to buy further investment properties, using equity as deposit.collie
Hi Collie
Before you do ANYTHING, read Peter Spann’s “How to Build a $10 Million Property Portfolio in 10 Years”.
Spann’s book is excellent, and it also has comprehensive chapters on how to go about building equity through refinancing. Also excellent tips about using RP data over the past 10 years to work out which suburbs are going to return the biggest % equity increase over the next 2 years of a 5 year cycle.
Also do a Search under “Peter Spann” on this forum, as he had a brilliant thread here some 4-6 months ago.
Cheers
GregOriginally posted by solomon:I would still appreciate more advice as I am looking for a faster method than spending the next 3 years or so paying after tax dollars to increase equity before I can play the investment game.Thank you
Hi again Solomon
Thanks for clearing up my query. [biggrin]
Re “to FHOG or not to FHOG”. If you prefer investment, the answer is simple:
~ Buy your 1st IPs BEFORE you buy your own home (ie., this is what Steve and his wife did, they RENTED whilst they were building up their massive portfolio).You have 2 key questions to consider:
1. Depending on which state you live in, will buying an IP BEFORE buying your PPOR preclude you from getting your PPOR when you finally decide it’s time to buy it?
2. How do we buy +CF properties in the current market?There are answers to both questions, but you have a lot more reading /research to do yet to get comprehensive answers to both.
Cheers
GregOriginally posted by Julian:Hi there, i use the Baycorp and RP Searches service I did the land title search many times by Folio Identifier “57&58/RP302xx” , regarding to the property address is : xx-xx Georgina Street, Woody Point QLD 4019, but unsuccessful.
The reaon is shown “title or previous title reference invalid” Is it the Ttitle Reference Number (QLd use) different from the Folio Identitfier (NSW use) ?
Could i use the address to search land title? How to solve this search problem? [blush2]
[blush2] THERE IS ALWAYS A BETTER WAY!G’day Julian
I assume you’re also hassling the begeesus out of Baycorp and RP customer services people?
Because I have quite a few Ip’s with a number of PM’s, I’d be asking one of my PM’s to help me out on this. Do you own enough IP’s to call in a few favours with LJHooker, Ray White etc etc?
Cheers
GregOriginally posted by **PropertyGuRu**:Well done Terry! Cheers
PropertyGuRu [sultan]Hi Terry
I’ve always valued and enjoyed your highly informed posts, Terry. These boards would be a lot poorer without your constant presence.
Congratulations on reaching such an awesome milestone.
Greg FOriginally posted by solomon:What would you do? What would you buy?
Keep in mind we have to live in it for at least 6mths & the goal is income from properties.
Are you up to the challenge?Hi Solomon
I hope I’m misreading you mate, because your comment “Are you up to the challenge?” sounds more than a tad arrogant. Please let me know I’m wrong, because I’m giving you the benefit of the doubt by posting the information below.
As well as reading below, please go the the top LHS of http://www.propertyinvesting.com ‘s homepage, click on “Search” under the Forum heading, type in FHOG, and/or “First Home Owners Grant” and you will be deluged with a myriad of highly informed posts showing legalities and loopholes of FHOG. Beware, it varies markedly on a state by state basis.
Happy reading, and I have saved a lot more on my H Drive where that’s come from.
Cheers
Greg
FIRST HOME OWNERS GRANT
Who is eligible for the grant?
You are eligible if:
• You are at least 18 years of age on the date of entering into the eligible transaction. (An exemption from this requirement may be considered in certain circumstances.)
• You are buying or building your first home as a natural person, not as a company or trust.
• You, or a joint applicant, are an Australian citizen or a permanent resident.
• You or your spouse have not previously owned an interest in land in Australia that had a residence on it prior to 1 July 2000. This includes investment homes.
o If you are married or have been living in a de facto relationship for more than two years, neither you nor your spouse can have owned a home, individually or with any other person.
• You or your spouse have not, on or after 1 July 2000, owned an interest in residential property in Australia and lived on that property.
• All applicants who enter into an eligible transaction before 1 January 2004 must occupy the home as their principal place of residence within one year of the completion of the transaction to which the application relates.
• All applicants who enter into an eligible transaction on or after 1 January 2004 must occupy the home as their principal place of residence within one year of completion of the eligible transaction and remain in continuous occupation for a period of at least six months.
All owners of the home must be parties to the grant application.
Neither the applicant nor applicant’s spouse are entitled to the grant if either have received an earlier grant.
Who is eligible for the additional $3,000 grant?
Who is eligible for the additional $7,000 grant?
I signed a contract for a new home but haven’t submitted my application, can I still apply for the $14,000 grant?
I have owned an investment home previously. Can I still be eligible for the grant?
A person is not eligible if they or their spouse (including de facto spouse) has had a relevant interest in any residential property in Australia prior to 1 July 2000, whether they live in it or not.
However, a person may be eligible if they or their spouse (including de facto spouse) has only ever had a relevant interest in any residential property in Australia on or after 1 July 2000 and they have not resided in that property.
If I am divorced, and my previous partner owned a home in their own right, am I eligible for the grant?
If my partner has previously owned vacant land but not a home, will we be eligible for the grant on the purchase or construction of our first home?
If I have owned residential property in any other State or Territory, will I be eligible for the grant if I purchase a home in Queensland?
If I inherit an interest in a residential property, can I apply for the grant when I purchase or build my first home?
What if I have owned property in another country?
If the contract to purchase an established or new home, or to build a new home, was signed prior to 1 July 2000 but settlement doesn’t occur until after that date, can I qualify for the grant?
If I have owned vacant land or a commercial property prior to 1 July 2000, would I be disqualified from getting the grant?
If I delayed signing a contract before 1 July 2000 by entering into an option agreement in order to secure my interest in a particular home, am I still eligible?
I am an owner builder so I haven’t entered into a building contract. What criteria do I have to meet?
Can a trust or a company apply for the grant?
Are permanent residents or New Zealand citizens able to apply for the grant?
When does building work start under a comprehensive building contract for the purpose of determining eligibility for the additional $7,000 and $3,000 grant for new homesOriginally posted by MichaelYardney: Imagine I went and got a real job and earned $100,000. After tax and medicare levy I would have $50,000 and even less after super…. If I worked for the $100k and paid tax I would only have half that. When you own enough equity; cashflow is not important. Equity = cashflow. Michael YardneyHi Michael
I’m very, very impressed. Do you mind being a little more specific on the mechanics of how you draw the money out each week/month (ie., the “paper trail”)? I assume your Trust, as a separate entity, is not paying you (as an employee /contractor) a “consultants /property management fee”, because you’d have to declare this as income, which the tax man would tax, right?
So how do you do it? Do you somehow invoice the Trust?
Originally posted by wilandel:
Hi Greg, Good luck with it… Sorry I can’t offer you any real advice though… We get lots of these Indian telemarketing calls, and they really “p###” you off! DelThanks Del and everyone
I’m determined to block this stuff, but I need everyone’s help and support. I’m gearing up to:
1. Go to my local State and federal Member of Parliament and ask them to ask questions in Parliament.
2. Ask Channel 7’s Kochie & Mel to “put it on the ROSWALL”. In particular, I want them to put the Labor and Liberal spokesmen ‘on the spot’ about the issue, demanding decent, fully accountable replies.It’s unconscionable that the http://www.adma.com.au “Do Not Call” Register is a self-regulating process, not a LEGISLATED REQUIREMENT. Our politicians are in it up to their armpits. They support it, and we need to make sure they suffer enough to take the necessary steps. HOW DARE THEY!!
We need the Ombudsman on board, but because they’re a “party of last resort” we need to demonstrate that we’ve first tried to resolve the issue with our Phone companies. I’m ringing mine, and putting it in writing so I can demonstrate to the Ombudsman that I’ve taken all the required steps before contacting them.
Can I ask you guys to ring your phone company, demand a response in writing, and post their replies here? I’m sure they’ll just refer us to the adma, and try to hide behind them, but we need all such responses in writing first. How many unscrupulous, unregistered marketers are there, and HOW DO WE CONTROL THE SALE OF OUR PRIVATE INFORMATION TO OVERSEAS TELEMARKETERS?
Should we run a Petition on this site? Any other ideas?
Cheers
GregOriginally posted by Nat R:Let me get this right…you run information nights on how to buy cashflow +ive properties in the US but you don’t know how to get a loan in the US or even what the prevailing interest rates are??? Are you licenced by ASIC to give financial advice??
Hi Nat et al
I don’t know Westan, I’ve written to him twice (I think), and have no business or other connection with him. What I DO know is that:
1. He’s highly regarded by senior members of this forum, and
2. Is a great source of info and contacts if you want to buy +CF property in NZ.The point about making money in property is that it isn’t rocket science. Westan’s a pioneer, having set himself up as one of the very first bird doggers in NZ, and he hasn’t stopped there. Typical of his kind, he’s out chasing /sourcing new (better?) deals in other green pastures. I assume this is what’s behind his surge into the USA.
All of us have 2 choices:
a) Criticise him. He won’t care, but just get on with the job of making money
b) Join him, learn with him, be some of the very 1st ‘Aussie pioneers’ branching out into USA property investing.Westan’s hardly the first to do this, by the way. People like Rick Otton did it many years ago, inspired by Kiyosaki and others “Boot Camps”.
If you weren’t riding one of those earlier waves, be careful you don’t miss out on too many more. And in case you were wondering, I’m up to my neck in a Rural Residential subdivision in Qld right now. I made that choice instead of going into NZ, and will see it through. Thus I’m not able to follow my own advice (yet) and follow Westan into the USA.
But the spirit is there, and as a wise property guru once said: “There’s room for spontaneity in making money, you know!” [biggrin] To some of us here, TRACK RECORD counts for a lot more than a piece of paper saying someone’s ‘qualified’ to give you investment advice.
Cheers
Greg [buz2][cap][cigar]Originally posted by foundation:
Historical data series from 1970 to 2003:
Sydney & Melbourne
Adelaide Houses
Adelaid Units
SA
Perth
Hobart
Darwin
Canberra
Plenty of other good research material out there:
Dataseries Graphing
Cheers, F.[cowboy2]Hi Foundation
Can you help me with the Historical Data series for Qld (Brisbane and major regional centres)?
I’m applying the impressive method Peter Spann outlines in his book “$10 Million Property Portfolio in 10 Years” to decide which specific suburbs fit very strict criteria. To this end, I need at least 10 years data on each suburb/ town/city.
By the way, LOVED your Financial Demographics website! [biggrin]
Cheers
GregHi again
I’m in the position where I relate to both Ausprop and Mini! [cap] (And in case anyone’s wondering, Yes, this is possible!)[buz2][buz2][cigar]I well remember having drinks on the waterfront at a certain business dinner, when the host (a well known mega-millionaire) pointed out a ’30- something’ leggy blonde and very matter-of- factly told me: “When you get big enough to need to move offshore, give me a ring and I’ll introduce you to her. She’s my offshore tax law specialist.”
So for the foreseeable future, Ausprop’s right because our structure was set up by the $2500 accountants Mini mentions above, and our current sub-division is in the name of that entity. But there may well come a time, Mini, when I PM you for some tips and contacts re registering offshore. So I guess I’ll be privileged to pay around $10,000 for their services, is that it, Mini? [biggrin]
Mini, would you mind PMing me the contact details of your Offshore specialist, plus any other tips / info you think I might appreciate? I’d really appreciate it.
Thanks to everyone for your input.
Cheers
GregOriginally posted by Michael Whyte:
Jaffasoft… I’m off for 5 weeks holidays to Africa so apologies in advance if I don’t reply to a PM or an email for a while. I’ll check in again when I get back towards the end of March. Have a great meeting! Michael.Hi Michael, Jaffa et al
There you go again Michael, ANOTHER HOLIDAY!!! Last time we linked, you were off on a 2nd honeymoon. What’s this holiday in honour of?
And Jaffa, I LUV your cashflow calculator, have linked with Michael and his lovely wife before, and hail from Gympie where we’re doing our first Rural res subdivision in a JV with another forumite from WA. Would love to be included on your email list, though it’s unlikely we’d be able to make any +CF meetings in Bundie. The Bundie area interests us, however. We do get up around Bundie quite often, though, and are aware of the opportunities there.
Keep in touch, and if interested, PM me for phone numbers etc.
Cheers
GregOriginally posted by robo:Hi, When do they classify a investor as a developer and how? Thanks Robo
Hi Folks
Great question, Robo, and LOVE the expertise ALL of you guys and gals bring to this topic. [cap][cigar][cigar][cap]
Can someone please expand on Robo’s question about the specifics of being declared a trader rather than an investor? I’ve always assumed it was sufficient to just keep your job and do your ‘developments’/investments on the side.
I’m currently doing a 25 lot rural residential subdivision with a JV partner under a unit trust structure. We’re still keeping our PAYE jobs, so I thought that would automatically protect my wife and I from being declared ‘traders’.
Are we safe, or will that mongrel taxman find some other way of screwing us?
Cheers
GregOriginally posted by Derek:Quote:Hi Christy, IS there a particular state in mind? The sources may vary from state to state. DerekHi Derek
I can’t believe noone followed up on your implied offer to help provide alternative sources. I’m after Qld figures. Can you help? [cap][cigar]
Cheers
GregOriginally posted by Jenny1:I thought advertising was a no no![angry2]Jenny1
Looks like Kiwi-Fulla slipped that one in whilst the Moderator was away. Gotta give him points for trying!! [biggrin]
Greg[cap]Originally posted by Greg F:Originally posted by woodsman:
Greg, How quickly after a sale is the information be updated with RP Data?Hi Woodsman I assume rp data is updated the same way our credit ratings are updated.
Hi again
Just spoke to one of my PM’s, who tells me RP Data takes about 3 months to get updated after a sale. I was wrong assuming the RE industry was as up to date as the credit industry.If anyone has any more precise information, it’d be much appreciated
Cheers
Greg
