Forum Replies Created
I’ve PM’d you buddy
Richard’s been a great help to me. Would definately recomend him to help put your team together
I’m in the same situation. I elected to use a HDT. This was for several reasons.
1. I could divert the income to myself or my husband depending on circumstances. You might know your circumstances now. But what happens 5 years down the track if you decide to work less or your partner gets a higher paying job.
2. If I use a HDT I can get a LOC on our PPOR under my name then buy units in the HDT. This allows me to claim interest on my tax return as the highest income erner (although I do have to give myself income to offset some of this I can effectively negatively gear myself).
A HDT should only costs you between $300-$500 to set up but for me the flexibility it gave me was invaluable. Definately check with your accountant to see what is best for you (also make sure your accountant is experienced in property investing – that makes the world of difference and not all accountants are!)Thanks for asking this question. Its something I am looking at myselft at the moment.
Do you have a property agent who handles the rental agreement or do you do so yourself. How do you find tenants – do you approach the uni’s or put an add in the paper? Why criteria do you use to find a place – do you look for a minimum of say 5 b/r, 2 bathroom, within x km of the university – anything else?
Movie voucher
Free petrol voucher
Hairdressing voucher
CD voucherThings that would improve your property – $50 of free lawnmoving, $50 free garden plants, hardware store voucher
We had a problem with roaming animals from neighbours – dogs, cats, cattle and peacocks!. At one stage the animal control department of the council lent us some of there animal traps. We trapped the neighbours dogs, the council came and picked them up.
Put an add in the paper “Send $10 to PO box XXX and I’ll post you details of how to make thousands of dollars” When they post you the $10 send them a letter saying “get a PO box, put an add in the paper when says send $10 etc etc etc”[biggrin]
PS I should mention that I very time poor. Hence this strategy
There was a story I saw ages ago about people selling advertising on their car. Based of course on how much mileage they did per day and where they travelled.
Can’t see why billboards wouldn’t work – depending on your property location
Steve’s buyer beware pack is very good. It gives you a checklist of what to look for in the inspection stage as well as his other templates.
From the initial conversation I had with George Kafantaris I can honestly say I wasn’t particularly impressed. He did not seem particularly interested in cf+ properties – only inner city properties and very much equity base investing which of course reflects Michael Yardney’s investing philosophies. He basically scoffed at any ideas I had and then forgot to ring me back to organise a meeting. I figured if this was the intial response I got then he was not going to suit my requirements.
It is important that the BA you find matches your chosen style of investing. I haven’t tried the other guy but might check him out myself. I found Paul at webuyhouses.com.au also good value.
Would be interested to know how you go.
Cheers
Yes I would definately agree and that is the big think I have learnt thru reading the various approaches. Everybodies individual circumstances are different and the key the good investing is picking out the approach or combination of approaches that are going to work best for your circumstances.
And once again, knowlegde is power. By reading and understanding the various philosophies your toolbox is a lot bigger.
Christopher
Check out the online shop on this web site. There is also a box on the bottom right hand side of this forum.
Good luck with your investing.[biggrin]
Hi
Why don’t you do a forum search for Moranbah. The topic has been discussed a few times recently and that may help you.
I listened to the Masterclass CD’s in my car to and from work. I think they are an excellent resource and very good to listen to when you start to have self doubts or loose momentum.
If you are after mining information I suggest you get the free newsletter from http://www.miningnews.net . You can also research any previous stories and areas which is helpful.
I would probably keep clear of places like Emerald and Moranbah. They are already overpriced. Mt Isa and Cloncurry look good but you have to do your research about good and bad areas, particularly in Mt Isa. A good property agent is essential.
Good luck
Your absolutely correct. I’ve been in the industry for a few years now. If the coal bottoms out in Queensland the market is going to bottom very quickly. Personally I wouldn’t buy in mining towns like Moranbah etc. The rentals might be great at the moment but for the long term the property prices are already too high. Inevitably they will go down, and quickly
Who is in control of the property – you or them? Don’t assign your control away to them. Make sure you are positive when you approach them. Thank them for paying on time etc. Tell them market rates have gone up to $220 per week but as they are good tenants you are prepared to cut them a brake and only raise the rent $15 per week instead of $20, even though you put in a new kitchen. Give them a 12 month lease to sign and a discount voucher or a movie pass should they sign. You get want you want and they feel like they have won as well.
Definately mention the gate in writing so that you have a confirmation when you try and take it out of there bond.
I guess I am in the same boat as you Frank. Thanks for asking the question. I was discussing options such as discretionary trusts with my accountant only yesterday and the answers I got were so wishy washy that I am really none the wiser. I’ve got some books coming from the library to help the education process “How to legally reduce your tax” was one I heard was quite good
Cata I think I will send you an email for some more info.
Frank – good luck with your fact finding.
cheers
I found it to be an excellent resource. As well as the buyer beware templates.
