Hi AP

everything is a gamble

last year 20,600 non business people went into bankrupcy

only 4,300 business did that same year…..not bad out of 1.2 million SMALL businesses

over and out

hb

sorry
last reply ….getting bored

redwig…if you read mitchy question carefully, you will see she has only 8K equity….

lets play the numbers games…….

what you can do with 100K loan…2 different scenarios

for this exercise lets ignore equity….lets keep it simple.

1. borrow 100k for a IP….say in Elizabeth Downs..an area mitchy…[Read more]

Hi Troy

Drunk?
does 2 glass of red wine make me an alcooo?

jealous?
been there done that….i don’t think so

being funny?
“Do we place current PPOR into trust? (currently in both names)”
imagine taking something from a tax free environment into a taxable environment…….you obviously don’t know the repercussions…i had a laugh…[Read more]

Hi Aperry
“few are as successful as you obviously have been”
Really
Crazy John started with no contacts, no university degree and no experience. Fifteen years ago, he was selling electronics in suburban obscurity – now, worth in excess of $300 million.
Eddy Groves started his business career as a milkman at the age of 19. Today he owns the…[Read more]

hi guys
came across this article on the ATO website

http://law.ato.gov.au/atolaw/view.htm?docid=TPA/TA20044/NAT/ATO/00001

any association with what your setting up?????

hb

hi young people

how often have you told your kids not to do something, only to find 3 minutes their in tears and your reply is “well i told you that would happen”
whether their 2 or 20, they know best….well until disaster happens.
The great thing about being older……..is you’ve DONE it
all the debts, the bills, the kids, the bank,…[Read more]

hi dazz
60 years from now

i’ll be 155

are you serious

postage size blocks of land…that’s all we need.
straight up….just like the jensens

hb

hi micheal

your right,

“He would now have 10 apartments in a prime area.
Lesson: you earn cash trading and pay tax. You can get filthy rich as a property dveloper holding onto your projects.”

but i reckon….he could have been really FILTHY FILTHY RICH….not just filthy rich.

show you what i mean

lets go back 12 years

Medium house price…[Read more]

Na Na Na Dazzling
what are you sniffing over there at West
you’re getting all spiritual on us
land??????

look

WOOLLOOMOOLOO $2,500,000 apartment 2 bedroom
NO LAND

ST KILDA ROAD MELBOURNE $4,000,000 apartment 3 bedroom
NO LAND

SURFERS PARADISE $4,840,000 apartment 3 bedrooms
NO LAND

when your paying those sort of prices , i wouldn’t have…[Read more]

wow troynbec

welcome to world of buy , reno, sell

everyone’s doing…….and i mean everyone
even an accountant i know, has throw anyway his pencil and picked up a nail bag.

you should start a society, or maybe even you own webpage…….
http://www.therenogang.com.au……..
hire an ad agency to sell the properties…30 sec tv ads

you could even end…[Read more]

sorry Roy H

but your question is a bit specious.
i perused the article several times and could not find reference to
“renting your ppor”
have i fail to notice something?

hb

Ohh mitchy
“i need a deposit of around 16k.
are there any ways of getting around this?”

can i have it now….can i have it now…
so young and wanting everthing straight away……just like my daughter.

can i give an alternative view…..being old and everything

WORK…..SAVE……WORK……SAVE

thats how we use to do it in the old…[Read more]

wo
i think Jaffasoft is onto something here

carn’t you image it…….bungalows everywhere

Toorak, Kirrabilli, Subiaco, etc

what a great idea……..it work in the last war………

Jaffasoft, you’ve hit on something here

but bugger the $75 a week
lets get into building bungalows….

if this ideas catches on, we can buy an island in qld
and…[Read more]

Hi ASM
love that bottom line………………
” keep out of trouble with the ATO”
But not sure about……………
“leave well enough alone”

Reading between the lines sounds to me like the fund could be walking a fine line.
Even though your accountant might not have picked it up,
the Independent Auditor should have.

You do have an…[Read more]

Hooray for AmandaBS

after 30 years of being involved with a swag of companies, trusts, discretionary, unit, family, etc etc………i’m starting to like the KISS principle

i think grossrealisation likes jigsaw puzzles…….
or maybe just keeping his accountant amused

hb

HI grossrealisation

what an interesting thought
“organise a company and a trust,clean company from day one the company organises the property, lend the deposit to the company you as an employee of the company gets a low or no doc loan ( make sure you can cover the loan repayments”

so your concept here is that the company buys the…[Read more]

hi simm02702

what to do? what to do?

well a good excell spreedsheet will usually put you in the picture…..
and don’t you love the “what if” formula…….

as it currently stands……
looking up my excel spreedsheet,
after all the costs for buying
(Stamp duty on transfer of land,Stamp duty on mortgage,Registration of transfer of…[Read more]

hi Giulio

what are you talking about

of course you can make money

just recently the reno sisters on channel 7’s “hot properties”, spent 2 years renovating, and after all costs,
made a whooping $20,000

$20,000 profit
2 years
4 people working on it
that’s $5,000 each for 2 years
that’s $2,500 each a year
thats $48 a week
thats $1.02 an…[Read more]

Hi ASB

Isn’t super a wonderful thing?
And managed properly will provided you with a lovely retirement packaged.
but mishandled can be a disaster.
Ever since the ATO has taken control, its all done by the book.
deviate at your own risk
the ATO for the last few years has been auditing, then educating various SMSF of their obligations.

we’ve been…[Read more]

wow dekra
your creativity has been working overtime…….
i’m not surprised your accountant was confused or bemused….

a little knowledge is a dangerous thing……….

your ideas will take you from bliss, to the dispair
from tax free…to taxable.
you will become an ATO’s auditors dream

but what would i know.
well, i’ve just spent 30k and 2…[Read more]