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Hurricane
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@hurricane
Join Date: 2003
Post Count: 10
June 28, 2004 - 2:20 am
Hi all
Have to say that I aggree with Felicity and Greg re who comes.
Count me in for the 18th. Re venue, I am fine with Sth Melbourne, but please consider that there are a number of Wrappers travelling from the hills or far outer east. Although I lived the closest to the last lunch I was the latest to arrive Hmmmm…. Anyway unless there are no new suggestions for venue (here is the opportunity to speak up loud and clear if you want the lunch closer to your place with specific venue alternatives)otherwise lets go with sth melb.
Ray
Hurricane
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@hurricane
Join Date: 2003
Post Count: 10
June 8, 2004 - 11:01 pm
Hi Lozza
Long time no speak, I guess this all means you Wrapped it! Congratulations[biggrin]
Re the utilities connections, that is their responsibility, however if your purchaser intends to utilise the FHOG, part of the application for it requires a letter or notice of connection from the electricity company for eg which implies your purchaser’s intention to occupy. So what I do, is as soon as we begin the paperwork (ie contracts) I suggest to them to get the electricity connected and request the letter of connection (can take a week or two). So when they finally get the keys, I collect the connection letter, and other paperwork for the FHOG, so 10 days after settlement the FHOG is nicely deposited in my account – less downtime!
Hope this all made sense.
By the way, we should all do Lunch again!
Cheers
Ray
Hurricane
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@hurricane
Join Date: 2003
Post Count: 10
June 5, 2003 - 10:09 am
Yeh go for it
I reno’ed this and my last PPOR. If your prepared to learn, and ask lots of questions, it can be a very rewarding experience.
Eg Polishing the Floor boards. I remember getting a quote once, and thought you are kidding!
Anyway, I asked lots of questions and found many answers, and saved a bundle by doing it myself.
Another organisation to get familiar with is your local Hire place. Having the right tool to do a job sometimes makes the difference in getting it done right. It is worth paying for the hire.
Oh, and I am no builder or tradesman (quite the opposite in fact), I just put in the time and effort to learn. It can also be a lot of fun too…
Ray
Hurricane
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@hurricane
Join Date: 2003
Post Count: 10
June 5, 2003 - 9:53 am
Mmmmmm
Imagine if the govt did pull the pin on Negative gearing! Many investors would get out of property, and those that remained would increase rents etc.
What would become of the housing market, and particularly those people who rely on rental accomodation?
I think that the govt who did this (if) would certainly be an unpopular one. After all, us investors out there are helping the govt out by providing affordable homes for our community.. This saves the govt from having to do so….
Cheers
Hurricane
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@hurricane
Join Date: 2003
Post Count: 10
June 5, 2003 - 9:29 am
I am with you Leigh
I would love to hear what others have experienced when going thru the motions of getting plans/permits for subdivision etc.
One questions I do have is, what if a neighbour objects to having another unit or two built nxt door? What legitamate grounds could a neighbour use to opose any such development?
P.S what about that coffee Leigh?
Ray
Hurricane
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@hurricane
Join Date: 2003
Post Count: 10
June 5, 2003 - 9:24 am
Anthony
Preparing this sort of a structure enables you to control your assets without necessarily owning them thus giving you optimal asset protection , and also assits you in paying the lowest amount of tax[}] legally possible.
Hope this helps
Ray
Hurricane
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@hurricane
Join Date: 2003
Post Count: 10
April 9, 2003 - 11:55 pm
Hi Quentin
What is the best structure???
I guess this all depends on where you want to go with Property investing, and whether the cost/s associated with establishing any one of the structures is justified against what you expect to make out of it.
One thing which is highly recommended in wealth guardian, is to set up your preferred structure before investing, as it will be a lot easier to protect your wealth should you face any litigation.
What is the best structure for you? I am not an accountant, and it all depends on what your plans are for your investing career.
I respect your question
quote:
Hurricane, so…what is the best structure to use according to the “Wealth Guardian?”
And what will you be telling your accountant?
It would be great if you could share with us forumites this tit bit of information about what the “Wealth Guardian” recommends as the best structure to invest in property.
However, I also respect that it must have taken a lot of time and effort (& money) to prepare and soon market the information in weatlh guardian. I don’t think it would be fair to the authors to reveal their advice over the forum.
On structuring, however, there is a chapter at the end of John Burley’s Book, “Money secrets of the rich” which should help you out.
Ciao
Ray
Hurricane
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@hurricane
Join Date: 2003
Post Count: 10
March 19, 2003 - 12:43 pm
Thanks guys for your comments[]
I still have one question that I would like to throw out to you serious WRAPPERS out there.
On average, how many property deals have you been able to do each month?
I appreciate that this question is like “how long is a piece of string”, and that the answer could be ‘as many as you had the time and resources for!’.
But as I am preparing my own personal plan, I would like an idea, as to what the benchmark is out there, and then I can determine if that is realistic for me. As this stage I am thinking of a minimum of two a month. What do you think???
“The Hardest thing is to know what you want. The easiest thing is to get it!” (Author – Unknown)
Hurricane
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@hurricane
Join Date: 2003
Post Count: 10
March 17, 2003 - 12:29 pm
Hi Robert
Thankyou for raising this question as it is something I have been curious about also.
Do you put in an add, and develop a database if you like of potential wrappees?
Or put in an add, after you find the house and hope there are takers?
Hurricane
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@hurricane
Join Date: 2003
Post Count: 10
March 15, 2003 - 2:27 pm
Thankyou all for your comments, I really do hope it won’t be as bad as I thought it would be. Incidently, we lived in the house for 8 years before renting it out.
Thanks again