Forum Replies Created
hi DBlackB
post what state your in.
If sydney I can give you a couple of accountants that can organise trust to do what you require.
you will need a unit trust with multiple trusts under.
This is not uncommon and gives flexibility for separate trusts investing in separate projects.
work with speciatist accountants for this field.here to help
hi Misty1
buy a hp 10bII and it gives not only compound and Amortisation interest but hell of alot more that you will be able to use.
Including actual monthly interest rate.
I use it daily great calculator.here to help
hi spi
log it in your diary to talk to me on the 11th sept at gladsville.here to help
hi thefirstbruce
not had a play yet but will have a look and send you my modified sheethere to help
Hi WauloK
I thought you were in bris, if you are in syd then check out the post on the meeting 11 sept at gladesville email me and I’ll forward it to roy or find it gpsnetwork group its at his officeshere to help
hi carly.matt
I’m not from adelaide but i’m with Damo.
Its a bit difficult to give advice on you buying a house.
But getting involved in a group is a good starthere to help
hi Natasha
Explain the however the margins are too tight.
if they are tight then is it worth doing.
you can’t be half pregnent either it is good capital growth in which you hold.
Or you pay out and develop and sell.
I might sound hard but I look at a development site and say it will have great capital growth because I will make money or move to the next site.
Value is only governed by what somebody will pay for it.
I have programmes that don’t allow margin are to low and a lot of my current work is pulling customer out of the —- because margins are low.
if they are so low then look at the ones with margins that are over 20% as thats what banks will lend on.here to help
Hi nathywally
couple of things
First get a broker two maybe three have already posted, try a couple ( they won’t cost you)
next have a chat with a local accountant the first chat is usually free ( make sure he knows about companies and trusts and how the set them up (talk to 2 or 3)
next you can go either way
Buy a house, develop (work on it)(move in) hold 12 month and sell, no capital gains tax all profit. To do the same again and move up the food chain.( equity will increase as you move)
purchase a commercial
approx 100,000 new
vender finance 20%
80,000
56,000 lend (70%)
you put in 24,000 (26,000 avail equity house)
rental to cover 100,000
153 per week(8%)
current in cbd Sydney you will buy a 60 sq shop and rent for this shop will be around $210.00.
Remember that the equity on commercial is always 60%
hope this helpshere to help
hi Alon
Couple of things
You need to give the growth as well as the return because in chatswood the growth for normal real estate is about 15% currently and it is a hot spot.
This is a hotel suite so won’t have the same growth.
In your market the buyers are comming from asia as most of the purchasers are asian in chatswood.
I would advertise with an agent but first talk to the hotel chain they would be the first call.
Here is not the best choice as the return doesn’t come with in the radar of most investors.
And any ideas well I have a few.
First get rid of this investment 4.0% for this type of investment should be around 9 to 10%.
Second look for a market that is going to use this type of investment and Chatswood would not be my first choice.
Third purchase to hold in a long time plan. Looking at this it was not done because if it was you would sell this type of investment on the peak of a boom.here to help
hi WauloK
couple of things
Talk to an accountant first he will tell you if negative gearing will work(not a book)
Talk to a broker ( a couple floating around here)they will tell you how much you can lend.
look for a property in the lower end of the market here in sydney but with potential to reasonable growth and then invest.
I can’t and wouldn’t guess to answer your post there are alot of factors that need to be looked at and I don’t konw if a bulliten board is the best place to post(, wages, tax etc).
yours is not an unusual position to be in and with a little creative accounting you will find that it not as bleak as you expect.Simon may be able to look at your figures off line and give you some ideas.
here to help
hi Rellie
what your account is recommending is jv using the builder and it is very common,
We do it all the time.
you will need a unit trust under a company and the builder is one of the unit trust members.
then when built the trust assigns as part of the deal one villa to the builder.
you need to talk to an account that knows trust.
but in essence there is nothing unusual in what you are asking and most builders will understand it (as most should already have done it in some form).
Jv are good and bad
good you spread you liability for the bank across more people but you also spread your profit.
and bad because you must know the other person or people you are dealing with and you are covering there liability also.
when doing the above you must put structures in place that limit your liability and risk management.
non of the above is to be seen as financial advicehere to help
hi Magellan
post the suburb and I’ll give you an external planner.for Sydneyhere to help
hi Property Passion
couple of things
1.Put people around you that will have the drive to get to where they want to be(not only in real estate)
2.learn ( not easy but true)(on the subject that you want to be the best at)(real estate)(read posts here, and on as many boards as possible)
3.enrol to be a broker, builder or real estate agent its cheap and will give you a very informed view of the process of each institution.
4. sorry but halit your post dont take financial advice from poor people is wrong take advice from the paperboy, just use the advice once you agree with it never dismiss any advice.( advice is cheap it cost you nothing, to act or not act can be very expensive)
5. don’t run until you can walk or you will fall over.
6. the last but most important is this planet is made up of 14 billion people you will find knockers everywhere you go thats why I make things happen and swim outside the waves.
7. you are making things work just read the post gone before and most important believe in yourself at the end of the day my whole operation is beleiving in me so you beleive in you,
8,guru stands for g u r u and u are uhere to help
hi snowball
Sorry not a great lover of kiwi’s but for me Don and Liz are on the money.
don’t sell unless you have to or the loss if more then the gain.
You need some one to look at your personal details and give you an informed opinion( and don’t send it to me)
example 1 you are on 1 mil a year with bhp 2,000 loss on an investment no problem.
example 2 living at home no income parents got loan for investment 2,000 loss big problem.
They are miles apart but a broker or lender will fill in the gaps.
Also I have a funny feeling you are not using an accountant you need to look at this also.
I don’t sell my own investments I hold.here to help
hi Hope
I don’t know perth but all the indicators are that there is alot of development over there have a chat with roy gpsnetwork ( He’s probably going to hate me if I get his group wrong)they do reports for your area (perth)(he’s on this board)
have alook at the market and then invest.
I haven’t been to a master class or read any of steves books it would probably be very enjoyable. but I do research all the areas I invest in and currently perth is the flavour of the month.here to help
hi hkr
sorry put i won’t post on here why and how you do what you require. you need to talk to a accountant that will look at the original entity that bought the land.
It is not as simple as you may think and if wrong the ato will look very unfavourable on one person buying out the other,trust members being removed from trust, and directors buying out other directors.
It is an area of capital gains, loss allocation, etc.
and you will need professional advice.
As for rhys13 no you can claim a tax deduction if the purchase was with in a company and the company had an inention to sell the item and your accountant can claim them in the year that they occur.
These are all accountant issues and my post are not ment to be seen as tax or financial advice and should not be seen as such.here to help
hi operator
Talk to a broker in your area or on this board get a 75% lend on your current premises( go to 80% if you wish)put the money back into the loan (nab will do it without any penalty)( i’m not recommending them its a example) and you can drawn the money if and when you require.
you can organise your own super fund but unless you are going to have in excess of 300k in the fund the cost will kill it.
This is not financial advice.
steve has answered your post(sorry for this ) but he’s as good as any. email him your details and should be able to set this up.here to help
hi toni89
Never under estimate your own value.
brain storming is one of the most powerful tools in business.
microsoft and mcdonalds both have brain storming days set aside for there management teams.here to help
hi learay
I run myob 13 and if you ring them the will tell you most things over the phone.
my ip are run within my company so its part of our procees.
Ring there help line or your local accountant myob is the most common software so most accounts will be able to tell you if not ring myob in melbournehere to help
hi Jenny1
I read with interest the post but in the end did you get it sorted out.
Having read most of the post, flip past dazzlings one,
Did you organise a broker to deal with these issues they usually work in your interests.
I read the post also for a laugh depending oon the subject.
I would also look at funding outside the 4 main banks, the rates are very similar and the operation of there processing is alot different try not to put all your lending with one institution ( the broker should explain this)
hope all goes wellhere to help
