Forum Replies Created
This would have to be one of the most ludicrous attempts to justify MLMs that I have ever seen. The supermarket analogy is ridiculous. Shelf stackers in a supermarket get paid for each and every minute and hour they work. Where is the guaranteed income in an MLM?
Shelf stackers also get paid regardless of whether they entice others to join the supermarket. Profits in MLM are dependent on convincing others to join the organisation.
You dont have an interest in an MLM, do you?
Originally posted by kay henry:I thought it was funny how the guy said he has a higher IQ than most people (I usually find that people who mention their own IQ’s are not the brightest bunch) and then he wrote up a word on butcher’s paper “SUCCESFUL”. hehe- I laughed my head off [thumbsupanim]
kay henry
Kay,
He has more money than anyone on this board, and he’s in his early 30’s…
As far as Im concerned, he’s bright enough for me.
As to your complaint about the price of his seminar.. it works out pretty much to the same hourly cost as Steve’s one day seminar… where was your uproar when people posted about Steves one day seminar for $1200?
Jay.
Originally posted by elves:I think along the lines of sis,
yes friends can wait
elvesI disagree…
A friend has obviously done you a good deed and lent you money to assist you on your wealth creation journey. Now that youre in a position to return the money, why not do the moral thing and repay both the debt, and your friend’s kindness?
Jay.
Originally posted by Suze:Hi Lifexperience
My acc. recommended that as I am a sole trader,I need to set up a trust for the PPOR and a company for the IPs. He said that you have to decide weather to do investment properties or developments. If you want to do both he suggests you form another company so that the Ips don’t get “tainted” by the developments, therefore attracting tax and GST. You do not have to pay tax on IPs here ( only if you are deemed by the IRD to be trading, ie selling within 3 yrs) but you do on the developments.
I am totally confused now, and obviously don’t know didly squat about tax and the best way to go.
A friend of mine says “don’t tell your acc. everything. They’re paid to keep you out of jail!”[guilty]Suze
Hi Suze,
Id suggest you get a better accountant, or at least speak to a few more of them. The best accountant is one who actively invests in property themselves – does your accountant have a property portfolio of their own?
Buying properties in a company structure is one of worst things you can do. The best way, for both asset protection and tax redistribution, is to buy property under a trust structure with a company as the trustee.
Id also suggest you spend a lot of time studying up on this area. One thing you have to do is start with the end in mind.. how many properties do you plan to buy? If its only one, or a few. you may be better off buying in your own name. If you plan to own 10+ etc, you may be better off with a trust. Another factor is your line of work and the chances of being sued. Another again is your family situation, and whether you have a spouse/dependents to redistribute income to. Trusts can also have a wide range of set up and maintenance costs, depending on your requirements.
There is no simple answer to your question, as the best structure for YOU depends on the answers to the questions above. A good resource which explains all of this is “Trust Magic” by Melbourne property accountant Dale Gatherum-Goss, which can be purchased at http://www.businessmall.com.au/cache/item-375public.html?cache=no
Best wishes,
Jay.
Originally posted by yack:My aim one day is to go to Qld every year to coincide with a property investment expo/show and claim some of it on my tax.
Its important to keep abreast of the latest in property investing.
Easiest way to make trips to QLD tax deductible is to buy property there and inspect them every 6-12 months [biggrin]
Originally posted by Aceyducey:If you feel disbelief or jealousy or any other ‘negative’ emotion – doesn’t this say more about your feelings about your own abilities and achievements than about theirs?
Also with this kind of reaction to someone else’s success, what does your attitude say about your belief in your own ability to achieve?
Cheers,
Aceyducey
Hi Acey,
Im a little surprised.. youre always the first to warn people to check their assumptions at the door, and avoid making sweeping generalisations.
I, for one, appreciate the quasi-psychological foray into my subconscious shortcomings… after an hour on your couch, I feel better already [biggrin]
So anybody who asks probing questions is being jealous and negative?
I was simply asking how SIS circumvented CBA lending policies. A simple question was answered with a flippant “its a secret” response. In the spirit of sharing I asked for further clarification and was given the same reponse.
As far as Im concerned, thats the end of my involvement in the thread. I, too, wished SIS all the best in my previous posts and hope he continues to be as successful as he has been previously.
Simply asking for clarification makes you neither a jealous competitor nor a malevolent doomsayer.
Regards,
Jay.
Hi SIS,
Thats great, but if youre not going to answer the question, wouldnt it be better to say so?
Im pretty sure the CBA doesnt allow revals inside of their parameters to people who whisper “Domino Effect” to their loans officer.
I was under the impression that this was a forum for sharing information, and using the good fortune and management youve obviously acquired to benefit others who use the board. Why post about your success but then claim its a secret whenever pressed for information?
If you have the time, Id still appreciate a mature answer to the questions I posed. If not, then thats your prerogative, and I wish you all the best.
After reading your multitude of posts, I was under the impression that, while Still in School was your moniker, you posted with the enthusiasm, interest, and aptitude of someone years older than you are.
The responses in this thread, however, have given me cause to review that opinion.
Best wishes,
Jay.
Hi SIS,
As I understand it, all your loans are with CBA, and you have total loan amounts of around $1.4 million. How did you overcome the banks reticence to allow loan amounts over 1 million to those not on extremely high incomes? Arent you deemed to be too “rent reliant”?
Im also intrigued as to how youve managed to get around the banks policy of revaluations. As I understand, you purchased your first property and have bought the other 11 with the increased equity from previous purchases. This seems at odds with the CBA’s policy of not allowing revals within 6 months from purchase, and only then allowing revals after extensive proof of the properties rise in value. If you couldnt reval the first property for 6 months, how did you buy 11 properties in 6 months after the original reval?
Best wishes,
Jay.
Hi Chan,
Perhaps as you started the thread asking for some personal information from others, you’d care to share you own details?
Best wishes,
Jay [biggrin]
Originally posted by LeighK:Kave
Sorry buddy the forum is not for that. There are very strong guidelines on advertising and I suggest you have another ready of the policy so you are clear on what you can do.
But just a tip, you can post a tag letting people know that you have identified properties and then people can PM you if they are interested.
Feel free to contact me by PM or the admin if you need to discuss this further.
Cheers
Leigh K[biggrin]Hi Leigh,
Quick question:
I agree completely with the no advertising protocol this forum advocates. There seems to be an endemic problem of people using most property investing boards (Steves, Somersoft, MSN, Burleys) as their own personal advertising service, rather than as a tool to educate people and share information..
Most of these ads. also usually come from first time posters who rarely stick around after their advertising attempts are foiled.
My question, however, is this:
In an earler thread, a member of the MAP program posted an advertisement for the same thing shaolin_kaveman did, although much more blatantly… Steve, however, posted in the very next post and stated that it was fine with him for the post to stay.
Why is that some posts advertising deals are vilified, while others (ostensibly involved in a program approved by the forum) post ads. and have them deemed appropriate?
Is there one rule for some, and another rule for others?
Best wishes,
Jay.
LOL = Laughing Out Loud.
There doesnt seem to be an Acronym FAQ on this forum, but there is a great one on Somersoft:
http://www.somersoft.com/forums/showthread.php?t=9382
Hope this helps.
Jay.
You can try contacting the company that produces it:
http://www.ubd.com.au/UBDFrontEnd/misc/wheretobuy.asp
Im sure theyll be able to help.
Jay.
Simon makes a good point here.
Every single person who has experienced Amway and the like in this thread has posted that they are no longer with the company. The only people positive about it seems to be those just beginning, who have yet to achieve any semblance of financial security from the business, and whose posts are peppered with “Im going to” and “it will happen” (no offence meant to these posters, positivity is a valuable asset). BUT if Amway / other MLMs are such a wonderful means of making money, why havent more people retired simply on the passive income it provides?
I know numerous people who have the means to retire after investing in property and shares…. I dont know one single person who has achieved financial independence through Amway etc, let alone achieved true wealth.
Just a thought,
Jay.
Hi canneram,
If you can type replies onto this forum, then you can earn an income [
] Have you looked into home based businesses or those that require minimal physical activity, but could still enable you to earn a living?Your situation may just require you to think outside the square a little.
Jay.
Originally posted by Jay:Ive just read in the resources section that
“Because this is a seminar our usual 14 Day Money-Back guarantee does not apply”
Im at a loss to understand why Steve would ask for such a large monetary contribution from a number of people (over $100,000 for the day) and yet not guarantee that attendees will receive value for their money. Its this lack of any sort of guarantee that makes me question that the information will be any different from that which is readily available from Steve’s book, this forum, or other online resources for a fraction of the cost. If the information to be presented is of such a high standard and worthy of the attendance fee, why not provide a guarantee that attendees will find ALL of the information they receive worthy of the cost, rather than just the 2 hours before morning tea?
Any thoughts?
Jay.
HI Dave,
Could you comment on my earlier post as to why you dont provide a money back guarantee?
Best wishes,
Jay [
]Ive just read in the resources section that
“Because this is a seminar our usual 14 Day Money-Back guarantee does not apply”
Im at a loss to understand why Steve would ask for such a large monetary contribution from a number of people (over $100,000 for the day) and yet not guarantee that attendees will receive value for their money. Its this lack of any sort of guarantee that makes me question that the information will be any different from that which is readily available from Steve’s book, this forum, or other online resources for a fraction of the cost. If the information to be presented is of such a high standard and worthy of the attendance fee, why not provide a guarantee that attendees will find ALL of the information they receive worthy of the cost, rather than just the 2 hours before morning tea?
Any thoughts?
Jay.
Originally posted by Pisces:The formula is only correct if one were not required to pay tax on one’s profits.
Therefore the best tax vehicle really is one’s own house.
Once one has some sizeable equity in one’s own home consider replacing it with another home which you may be able to buy below market or where you can improve the value by making renovations.
The ‘profit’ on the first house is tax free.
Pisces
Pisces,
The profit on EvERY house is tax free if you never sell.. simple refinance and use the money to purchase further property.
Why complicate a pretty simple process?
Same as the whole “11 second rule”, and line after line of calculations….
The 11 second rule is simply a gross yield of 10.4%…Isnt that much simpler?
Jay.
] Have you looked into home based businesses or those that require minimal physical activity, but could still enable you to earn a living?
]
