Forum Replies Created
hi all
just for resiwealth I did the calcs currently running at 29.15%
I haven’t nor do I check it usually.
I can run up to 80% but at the end of a development it gets down to these levels as the returns come in.
but ha I don’t worry about this type of figure, I look not loan to value ratio but money out to cash return ratio they are not the same.
I will give you an example and tell me which you would do,
100k in 2 years you get back your 100k plus 100k
or 100k @ 4% per month (48%) each month compounded.
which would you do???
these are the questions I have to answer not’s what my lvr.
at these rates do you worry whats your lvr.
sorry call me simple put lvrs are for bank managers not me, as long as my lvr is below there thresh hold do I care,
sorry I don’t,
not one to quote others but as dazzling says who give a rats ar-e about lvr its whats your lender will lend you.
and if you think its to hot in this kitchen don’t become a chef.
ha maybe its me but lvr is the last thing that people should be looking at,
look at your return on outlay and forget about lvr but thats my .002
and I’m only a little wall flower over here that doesn’t know much.
and at 29.15% lvr I don’t look like dying.
not sure if this the type of answer to resiwealth question and I won’t quote dazzling again in this posthere to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi Julian
welcome,
look forward to meeting you at the next meeting.
choir been to wa and a very interesting place.
I have a new email address for that project.
[email protected] and its a runner at the moment.
as for the health check, somersoft have a meeting in jan with ed chan I have 3 seats and are already filled so get in early.
hope you have fun for the new year.here to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi dazzling
not been a bad year on this side for me I usually do two developments per year and I’m running three currently,
looking forward to the first quarter of next year to put me in good sted for next year.
I have added to my little pool 5 properties this year all in growth areas with irons in the fire for three posi’s awaiting answers at the moment.
just been given verbal that one of my sites has been approval so all paperwork, may come off before the fat guy in the red suit comes down the chimney.
hope everyone has a good christmas and a happy new year.
and happy hunting in the new year.here to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi Cabo Wabo
heres my 002
check with an accountant but my understanding is the same for terryw 1,2,3,and 4 but 5 there is gst on residential property and commercial and the company registers for gst.
and the company does lodge a tax return even if it is non a trading company and it lodges a bas as well.
all the dealings are done by the company.
7 and 8 need to be worked out with an accountant as to the structure of the trust.
9 also check as there would be gst. from my understandinghere to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi all
been there, done that very interesting place wa
nice little town perth.
and I think that there may still be a little more steam in that kettle for some time.
not the cheapest place for a beer or a burger and this is my barometer for costs in a city or town it would be up to one of the most expensive.
It was a very informative trip and hope to see some good things in the new year from the seeds planted and may take another flight over, will seehere to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi rgf
don’t know them put don’t pay for anything that you don’t know what you are buying.
as for build wealth who’s
when a rich man meet a wise man, the wise man gets alittle richer and the rich man gets a little wiser,
on which section do you wish to be.
and ask themhere to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi thecrest
I’ll give my .002 for what it worth
I read the heading of the posts for the results groups and maybe I can answer a few but I look it that if they don’t what my advice why give it.
If they did then they would post in an open forum.
Maybe its just me put we are all trying to learn some are further down the learning curve if they dont need my advice and as its lock they don’t ha its no skin off my nose.
at the end of the day a bulliten board even thou it is usefull doesn’t pay me a dollar( the results group does pay steve)so is it a loss to me that there is a section is closed off sorry no.
I look at the posts and as I told someone earlier you have not take my seat I don’t pay for something that I can get for free
If I was one of the results group I would double post the question and see what people that you are not paying have to say.
I not one for yes men,but I also check my information.
the results group is the same as investing with gross realisation it a closed group that can only be joined when asked the only difference is you pay for one and the other you invest.
one is open (results group) and the other is closed.
and you cant join one no matter how much you wish to pay as its invitation only.
education is a cost and maybe steve is covering this market, its not a market I’m in nor is it a market I am going to join but if the results group are happy good on em and if they want that section so be it, it doesn’t matter, I think that a separate board would be better unless they are using the posts that you, me, and everyone else posts as train material to show what you should be doing.
but from reading the post heads I don’t think so.
so thecrest for me I won’t worry about it so much I would be looking at the next deal.
and make a profit.
spelling may be a bit out as I have a flight to catch in the morning.here to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi bwendan
depends your structure its a little bit difficult to explain an income when you are using debt, leveraging, cash flow, developing and other structures
but they understand to there level and as they progress they understand more.
some structures are very difficult to understand for an accountant that is not in that field so how do you think you can expalin that.I don’t want to sound nit picky put when I explain part of my structure to 45 year olds they throw there hands up with its all to hard.
so do you tell your children.
the answer is no.
Do you educate your children the answer is yes.
as for how much money you earn that is subjective.
depending on the goals and what is required at that point in time.
business is not an area that you earn this amount ?`
you teach your children not about money but the use of money.
my 002 worthhere to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi Selangor
I think this is a cup of coffee job.
sit down with a couple of the people around and ask what has been sold in the area, what are the tennants like get the nitty gritty first.
the ask the real estate for all there info then its off to the opposition the real estate down the road and they will tell you all the things that are wrong with this property and they have a better one around the corner cheaper and easier to rent.
Then site down with all this info and decide what you think and go for it off this info.here to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi giddo
sorry to say this put for me its not the best place to stash money away in a bank account even at 7% cash is a very valuable item thats why banks love it look around for investments that give you alot more then 7% start to peel that envelope.
real estate is for the long haul for me but not for cash, (equity for me).
cash is short term investments and there are alot around put call on the ords will give you better then 7%.
In any market cash is king so don’t put it in the lowest market put it in the highest unless it gives you leverage to purchase a item that knocks out a competitor.
If you are cashed up in this market with a bull share market and a fallen real estate market with a futures market that is going left and right and commodities that change daily up or down this is the best market for any of them for cash.
It also the best to learn as all wish there market to stabilise and the only way to do that is for investors to invest.
real estate goes up, shares go down, shares go up, real estate goes down, some people hedge to cover these movements.
look at hedging.
you can hedge everything from wheat to car tyres and for that matter real estate.
diversification is the key to any portfolio
this is not advice nor should it be seen as suchhere to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi all
first dazzling there are lots of times that you would use a ??????
hi dazzling couldn’t be bothered to word check it so deleted it
here to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi chookie
simple don’t sell or buy .
lend on the property and split the lend between the two parties ( try to make a rental cover the interest rate and costs) and use you half to leverage to the next property.
selling is costs,
use the property the move forward.
no sales tax if you don’t sell.
if the others want to sell talk to an account and get him to structure it.
as a gift you are in agood position to hold put thats my 002here to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi all
if you make the deposit subject to an agreed account that the money is out into and the vendor agrees you can delay the settlement of the moneys for some time the figure is an agreed amount I like 5% put ususally get my 5% back at settlement just depends if If negotiated correctly.
I’m like cata I give as little money into the deal with the most amount out.
There are alot of ways to pay the deposit and not with cash get the vendor to vendor finance the deposit is a favourit of mine at less then bank rates I have 180k at 4% vendor finance to me with a caveat on the property I have no money up front on that deal at all.here to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi Susanmc
no but if you find a chivas or blue lable club I would be more interested in joining.what do the invested bottles
here to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi calvin@thirty4
nop its not.
cash is a more fluid item and so it can be used in alot of markets that equity can’t. so the return for cash is usually more then for equity.
also equity ties the person supplying the equity to risk with the venture this is not the case with cash.
equity is alot easier to rise then cash ( sorry to say this but try raising either and you will see which is the easiest).
equity is the same as cash if you are using either for your own project but from a business point of view they are very different.here to help
If you want to get involved in some of the projects I’m involved in email to [email protected]Hi All
An option is a right but not an obligation to purchase an item.
From reading this post they are not common. for me nearly every deal is the purchase of a option usually a put call option.
They are used where the person who puts up the put call option, doesn’t have to purchase the land but pays for the da to be done then (whats called flick ) the site with the da attached in a good market you can make good money.
In nsw no there is no duty on the flick as the contract is at the land value, the purchaser buys the land and theN pays the flickee the added value.
In this market the flickee are getting burnt as they are in a very soft psoition and are losing money and the land owners are selling with the da attached not good for the flickees.
most are timed usually 1 year but can be 2 and the fee is usually 1% of the value of the land.
will find out soon about wa as I’ll be in perth next friday.here to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi allen
I’ll give my 002 worth.
you need to separate the issues here one is your father and the other is the will they are not combined, one is personal and the other is a piece of paper.
First have a chat with the salvo’s in the area you are in.
A. they can give counciling with regard to suicide it is a very difficult issue to address and needs profestional help and also grief even thou I have empathy for your position being of irish extract we believe in wakes which is a celabration of a death rather then a greiving so I can’t help on that front but they can.
next the will they have some very good solicitor that work with them and they can guide you also.
get as much information dated as possible, court cases go for some times many years and if its written down if only on a piece of paper it works wonders in court cases.
and the last thing is that most of these things are worked out, it is only money after all and yes most people strive to get alot of the stuff but you can’t take it with you
it is a tool to be used to gain some thing but its not from my point of view worth dying for nor is it worth the time to think of dying for.
we all have these little mountains to climb some climb better then others but we all still have to climb them.
The strongest rose is not the one that gets watered every day its the one that has to fit to survive and struggles to reach the light.
It seems at this time you need to struggle for that light and climb that mountain.
Its probably not the place to post this but this is one of the reasons for correct structure, people use family discretionary trusts for lots of different reasons but I have one of mine setup
for this reason, so that the director of the trust in this case an accountant directs assetts as per the trust deeds its better then a will, as there is no arguments with this trust structure new spouces cann’t be added no messy divorce problems.
In this case a little late but a lesson to others.
always look not 5 ,10 ,15 ,20 ,30 years a head put structure for your time on this plot of earth and on going.
sorry about any spelling mistakeshere to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi Ben Morris
the purchaser crosses out what he doesn’t like and then goes to bat on those issues so if you wanted it i would have spoken to the owners and then informed the solicitors.
I’m in for battle for 56k in gst as I crossed out plus gst as the owner said it was not subject to gst so I creoosed out all reference to gst in the contract we cross signed them. purchase the land and then fight the ato for my gst they then go back to the vendor(ex now as I own it)and get the gst off them its a fight but I think I will win and as I own it now they can’t ask me to pay it as it was part of the agreement.
so yes if it worth fighting for.
fight.
the best bits are the bits that you hadn’t budget for.here to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi Ben Morris
interesting post and reading lens post he has been listening, except I haven’t seen a guru around.The return is different for cash in a project and equity in a project as the cash is costing you money and should give you a higher return as the equity is not costing you and from a banks point of view is seen as the same.
but in reality they are very different us cash as cash ( for cash flow) and I try to use equity were every possible but if it works well nothing at all but thats another story and is more smoke then mirrors.
positive from day one should be most of the product held by a developer when he/she has finished the project, or a 3 br house turned into a 6 br house and rented out each room,or a rundown 3br in double bay that gets reno and rents for more then the loan.
everyone has a different version of positive from day one but I like lens version.
or dazzling.here to help
If you want to get involved in some of the projects I’m involved in email to [email protected]hi nazzysmith0153
for the same reason you don’t just buy the bricks and concrete and start building a block of flats without a da/cc or the foundations in place because yes it might be ok but is going to be very expensive to rectify later if constructed wrong its better to do your foundation correct from the start and you can’t do that if you don’t know if your building a house, a block of units or a complete village.
first decide what your doing and then build the structure for that purpose.here to help
If you want to get involved in some of the projects I’m involved in email to [email protected]
