Forum Replies Created
don’t like the game into soccer.
here to help
yes dazzling exactly
Marisa have a chat with your accountant I don’t know your situation but if you read my posts I say it is very important to setup the vehicle correctly from the start.
I uses trusts and companies, I also use mule investments trust and bear trusts.
This may sound technical but talk to a specialist trust accountant.
once setup you will understand why and what they are used for.
costs, I pay $1200.00 each trust and I have one accountant company looking after all of themhere to help
hi caston
working for someone is very valuable because a lender likes to see personal tax returns.
The best way to run a business is to have multipul income from different investments.
working for some one or running your own business will give very valuable.here to help
hi MrTrader
Sorry to confuse you and mortgage hunter is correct some times we forget we are not all at the same level.
My suggestion is to talk to a local broker that does (a) deal in real estate as an investor and (b) is a little switched on ( second is a little harder to find)
As for the property don’t get attached to it there are properties all over the place its the grain and the straw you have to work thru to find the one for you.
Even thou a couple of people here don’t like real estates agents ( im not one) they are also a very good group to explain this to you. sit down and they may give you a few ideas just don’t sign anythinghere to help
hi all
kerwyn you are correct.
I set up a trust per investment and non are linked if one is attacked the others stand out side the area for the lawyers to attack.
they have tried to no avail.here to help
hi brahms
Is it worth it.
well go down to your local court any day and look at the notice board.
mr and mrs grab, plaintiff, high rise property trust, defendant injury claim $5,000,000.00
negligency.
Don’t believe me go and have a look.
Then tell me you don’t think its worth it.
Have a look in the mirror you’ll be telling me that you don’t think you’ll ever be audited.here to help
hi MrTrader
50k can be used as equity on an ip.
This is usually to get higher lend.
Have a look at investing using just this equidity.
50k in a little low but there are groups out there ours isn’t one of them.here to help
hi MrTrader
You have two problems here one is easy the other is a little more difficult.
1. The broker hasn’t got a clue talk to another broker ( post (broker wanted) and you will get at least 6 here and they will give you the right answer with a better rate probably).
2. Equity is exactly that there is no cost or interest on equity ( if there was I would be broke and liquidated)
I won’t say syndicate because I’m not supposed to
but most of them work on equity it is very valuable and most banks require this to get a deal across the line.
How can you charge a interest on equity when the bank/lender is not lending on ithere to help
hi all
I like this post and have read each one I had a couple of people in my soccer team ask the same question today and ask how my week was.
I dropped 27 million into lending and it has a green light they then ask well thats ok put don’t I get bored working from my office at home.sometimes I find it not hard but unusual but they have been playing for some time.
I have done a deal while playing a game.
I go to my sons rugby games and deal from there.
I’m barred from talking business if I go out or to house hold if they ask I point them to the wife
Theres is no problem with making money.
If someone who doesn’t know me asks.
I’m a builder(of money)
you say your a builder then work from there.
works for me.here to help
hi kay henry
This has nothing to do with this post but how do you attach those like smiing face and don’t say read this section.
Post here how I do it and as arnie says I’ll be back.
I regard to the post I wouldn’t pay for coaching.
I do pay for training, or education , certification,
The best place to get coaching is get togther with abusiness person in your area and the discussion groups are a good place to start.
I might clarify if bill gates, jamie packer sheik anything is just reading this post by all attach a tread and I may re evaluate.here to help
hi robbo333
The figures are 650,000.00, 550,000 and 460,000 not million my price is on rp data.
look in rp data 263 wardell rd dulwich hill nsw.
real eatate that auctioned it, raine and horne
lj hokker ( dulwich hill).
Te ex owners were the small business association of nsw south wales,( and you would think they know how to deal)
I purchased and flew out to milan for business 2 days later and my parnters finalised the paperwork while I was way.
Jim(ceo)(can’t spell his indian name is still the ceo )(they purchased the building from the CBA for more then I did 5 years earlier).
One thing you will learn is I deal and get the deal across the line or I dump it and move to the next.here to help
hi warby12
unfortunately for you and for me.
I have not found a very good crystal ball seller the ones Ive bought have only told me what I already know.
Read a couple of my posts and you will see I look at real estate as a sine wave there ups and theres downs and if as you say you are looking at this as a live in, then don’t chase the sun that it for the investors they have to guess what the next hot spot is while it is just warming up.
But then they get there growth and work on that.
You shouldn’t be looking at that.
Look at a run down shack in the double bays of this world, renovate, do a second storey addition and flog it ( no tax on capital growth as its your home)and then chase the sun or as I did get to the next level.
I posted it a while ago have a read.
What you are looking for in a investment is not the same as you living in it yourself. half the properties I own not only don’t I live in them I don’t go near them unless they haven’t paid there rent.here to help
hi all
I watched with interest the 60 mins programme.
The only reason these bottom feeders are successfull is because they are swimming where asic cann’t catch them and they are doing it in amongst people who can’t swim.
If you jump into this type of water you are going to get bitten.
The thing that concerns me is who was on the beach and told these people it was ok to invest $500,000.00 on a property that had 7 other investor on the same site with no were near that value.
what did this lady sign or not sign and who was working for her or them from a financial position.
mr Bangaru may or may not be seen as at best a person that has withered away this money and everybody will hold there hands up and say deary deary me here it is again.
The only way to stop people going into this type of water is just like bondi beach explain what these bottom feeders do and educate the prospective purchasers of these type of people.
mr Bangaru is not the first and unfortunately will not be the last.
when you apply for a loan you should and we do get separate legal advice .most of the banks in sydney that I have dealt with ask you to get legal advice before signing but if you pull $375,000.00 out of your account, the only check at most you get is can you tell me what you want to do with it( from the teller) so you are not buying and selling drugs.
we live in a totally free financial market and this has good and bad traits one of the bad traits is pyramid, aeroplane, off shore,planetary systems and if you wish to risk you play.
These bottom feeding dwellers are very good at getting to your money.
The strongest tool in your armour is knowledge.
learn, learn, and then learn more.
I know some people don’t like neil jenman he is a personal friend of mine so I have a bias view but he does aim for all his faults to flush some of these out. and good on him from me.here to help
hi mgs2
have a read of the last 4 days and you will read alot about trust there are
discresionary trust
company trusts.
bear trust
hybred trusts
and a myriad in between.
trusts are a tool like a trowel there are lots of different trowels for different jobs
I’m currently in 4 different ones
my advice is read about the different ones and then ask the question.here to help
hi giddo
I sound like a tv cook but heres one I did earlier it settles next week depending on paperwork.
two duplex (4 units)
land 700,000
construct 800,000
sale 2,503,727
lend 1,727,930
67% builder buying land and building
return 25.64%
12% interest rate private lend.
I think you need to look at the resale price.here to help
hi giddo
have chat with the bank manager
here it is
sell price 450,000
selling costs 11,250
gst 23,636
total revenue 415,113
construction
180,000
contingemcy 9,000
professional fees 13,500
interest 38,000
devel costs 240,562
if you are buting this site at that value it is a minus return any thing over 90,000 for the land and it doesn’t work.
normal lendgross realisation gives me
263,914 minus build gives me 23,352 for the land
gross doesn’t work
costruct loan at 95% gives a 145,159 to break evensimple calculator
450
minus
180 and 190 gives 80 less interest 40 and you haven’t taken out gst, solicitors, stamp duty,legals or contingencies
sorry to be the proveyor of bad news put I think you need to trim this some werehere to help
hi eecchhoo
talk to the solicitor who did the deal.
this is land and at some time your going to build on it there will be contracts them to be signed and you may find that this can be done then but check with him/ her (your solicitor)here to help
hi all
couple of things.returns from developing are between 15% and 35% and are basically by risk factors.
giddo I run to different programmes for my business and they give me to totally different returns but they also run different interest rates and different ways of looking at developments.
how well do you know your bank manager.
he runs one of the programmes I run he/she(sorry to be sexist) can tell you your return.
post on here your costing (as dazzling and few don’t like me telling people to email me)and I will give you a couple of options
as a gross realisation loan 65%
as a 80% lvr loan construct ad land
and complete 67%construct loan.
these figures must not be construde as a loan or an indication as a loan by will be very close to the figures thou.
I won’t go lower then 15% and only at this level for tax purposess.
i need land value
build cost fixed price if possible
resale value
interest rate (not needed but if you got it hand)
term to build.
look forward to readinghere to help
hi Chars
do me favour re dazzlings post I think it was yesterday or the day before ( he does resonable word spread sheets).
and list down ppor cost rent payment etc list it down with alsohow it is owned is it a single owner/company/trust .
come back on here and post it.
I’ll read it and give you a couple of suggestions.
There’s alot of reading and I number crunch so its alot easier with numbers.here to help
hi all
no problem
I think it is on the way to bourke from ashfield.
so that close enough.
look forward to meeting a few people there.here to help
