Hi GreatPig!

I might leave the good old tax act for another night. Thanks for the link though…

It seems that a lot of people incorrectly treat the terms ‘discretionary trust’ and ‘family trust’ as being interchangable. I had this problem when talking to my (previous) accountant. He kept dropping the term ‘family trust’ when I was talking about…[Read more]

RP Data and similar companies buy their info under contract from the relevant state department which records land sales, collects stamp duties and title info. In Vic this is the Department of Justice under the State Revenue Office, Land Titles etc.

Now these agencies will commonly take a few weeks to process things but most of the delay often…[Read more]

Hi Terryw!

I am not sure I would agree that Ed Burton charges a lot for his trusts. You could probably buy one from ebay for $39, but would you?

My point is that quality is far more important than price. You might think you are saving a hundred dollars by going to your local suburban accountant (who does not specialise) – but when you find…[Read more]

Originally posted by GreatPig:
Profiteer,

losses incurred by property owned by the trust could not be offset against our personal income but can be offset against any future income made by the trust
Yes, but there are issues with trust losses. To carry forward trust losses the trust has to make a family trust election, which has certain…[Read more]

Nice work Foundation and its good to see this thread has progressed despite nearly being chopped off at the knees early by the regular hardhitters.

I have to agree with Foundation that there has been many more forces at work than the infinetly measurable population flows which so many research firms earn big money by producing.

The items in my…[Read more]

Hi Domo!

Ring up a few PM in your town and tell them you are thinking of moving out there soon due work oppurtunities and tell you need a 4 bedroom house with garage etc (Whatever your house has) and then ask them what they think that you will have to pay in rent for a house like that…

Do the same thing for all the agents and you should have a…[Read more]

My brother rang me the other day to ask me about a deal an agent had told him about.

A builder had two display homes that he had built and was now selling. The headline on the deal was the builder wanted to lease them back for 3 years and pay a whopping $30,000 pa rent. This area averages more like $12,000pa.

Sounds good until you looked at the…[Read more]

Hi Piper!

Tony Cordato is a lawyer in Sydney who understands lease options and wraps. I got this number out of the white pages so it should do the trick…(02) 9290 2773

Cheers,
Greg

Hi frodob!

Tony Cordato is a lawyer in Sydney who understands lease options and wraps and I am guessing it would be worth your time talking to him about assiging contracts also – I got this number out of the white pages so it should do the trick…(02) 9290 2773

Cheers,
Greg

Hi geo!

Yeah I forgot I had that name tag on until I arrived home! I thought it was a great night – got some valuable information and had a good chat too. Would have liked to have caught up.

I think Lewis does a great job. I have dealt with other solicitors and he is head and shoulders above the rest, in regards, to knowledge, attitude, and…[Read more]

Yes they do check and the penalties are fierce! Have you read the FHOG Act? (It is quite short)

I think the investigators get most of their leads from tip offs. You never know when your brother is going to get divorced from his wife… She may want to cause the family some pain.

In my opinion I would not try and dupe the government. They make…[Read more]

When a friend bought his house for $600k at auction he just gave them an ATM receipt showing his account balance with the promise that he would pay on Monday!

The vendors solicitor would probably have a heart attack if he knew this – but I guess the RE agent just wants to keep things simple so the sale goes through and he gets his commission…

Hi terry.s!

The info was fairly specific to Victoria – the veiw and feedback from Vic Consumer Affairs after a few complaints. On a more national level the UCCC was also discussed. The CD was not from Lewis but from Michael Gruber – who did a presentation on his product LoanAlert. Sorry if I stepped on your toes geo…

Cheers,
Greg.

J-Rock beat me to it – That is exactly what I was going to say.

All the people who run around asying put a ‘subject to finance’ clause either don’t fully know what they are talking about or are making a generalisation.

Don’t let the agent write the clause on the contract – get the clauses sent from your solicitor… Then have the agent photo…[Read more]

Isn’t BHP due to close its last mine and end all its activities in Broken Hill sometime during 2006? I am not sure of that date – but none the less this should be of concern to anyone who is considering a purchase here…

Might just have a small impact on employment levels!

Cheers,
Greg

Hi dangermouse99!

Make sure you spend adequate time finding a good one if you intend to buy multiple properties… The first thing is make sure they return your calls promptly and also are interested in taking the time to find out what you want both now and in the future. You don’t want a loan – you want a planned borrowing strategy that…[Read more]

Hi dan_col!

You can have a clause added to the contracts that allows the purchaser (leasee) to have access to view your banks loan account. They are not allowed access the account – but they can request the balance etc.

Or you can just give them a copy of the loan statement every six months… I personally think you should do this even if they…[Read more]

Hi Guys!

It is a shame our name tags did not have our PI aliases on them as well… I would have come over for a chat if I had known you were there too…

Next time!

Cheers,
Greg

Hi geo!

Another benefit is wrap purchasers in Victoria do not need to cough up stamp duty when they move in – only when they refinance. So they can maybe borrow this from the bank as.

So for a house worth $200k you would need about $29k straight off the bat just to get in (assuming you can get a bank loan) With a wrap you can get in today for…[Read more]

Hi freedom3!

I went to a seminar by them in Nov 2002. They have stopped doing seminars now but I think you can purchase a seminar they recorded on DVD – but hurry because there are only 47 still available…. (brrrrr I hate marketing lies!) Anyway their seminar was great and they are very knowledgable. They walk the talk – being active developers…[Read more]