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John Maxwell
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June 13, 2012 - 2:15 pm
I’d definitely go back to the unemotional investing strategy of making money! Why get caught up worrying about negative gearing … a good accountant/financial worth their weight in gold will be able to show you how to manage your tax and deductions in a range of ways.
I’d agree with the comments of buying positive geared and even more preferably positive cashflow properties. Many of our clients are achieving this regularly … from modest income earners through to $450k salary earners …
John Maxwell
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June 13, 2012 - 2:00 pm
Hi Sgoodes,
Due to changes in the last few years in regulations of SMSF’s now being able to borrow to invest in property … this has changed the landscape of the Super arena in many ways … giving the SMSF more control and flexibility in your options to invest. One of my companies deals with Property and another of my companies deals with investments with SMSF’s with a mandate for mining (from seed capital/IPO’s to Listing on the Exchange). We deal with many SMSF’s.
Always best to seek professional advice and remember you can only purchase ‘completed’ investment products eg you can not borrow through a SMSF to build a house … you can only borrow on the completed dwelling.
John Maxwell
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Join Date: 2010
Post Count: 30
June 13, 2012 - 1:30 pm
Hi again Newsam,
<moderator: delete advertising>
In reference to my comment re: greed …. that was in reference to a once stop shop operation, which is advised to be cautious about doing business with that type of company as they are unlikely to be specialists in all the required professions associated with property. The best advice I can give is … learn from other peoples mistakes … not your own mistakes! As, mistakes in property are often very costly
John Maxwell
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@john-maxwell
Join Date: 2010
Post Count: 30
June 13, 2012 - 6:08 am
The key to investing is to ‘make profit’ … pure and simple. It’s always a good idea to continually and consciously remove the emotional attachment from investing and understand that it is about the profit. Emotion can easily creep in and cause you to make mistakes.
I have assisted clients with solutions to cash-flow issues …. one client changed their portfolio by buying a cash-flow business to support the investment property portfolio. In their case they purchased some ATM machines that required no time on their part and provided them with suitable cash-flow they required. There are many other great solutions if you know who to talk to and where to look.
Obviously everyone’s situation is different and all factors need to be considered and it’s important to gain advise by a licensed, qualified and experienced professional
John Maxwell
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@john-maxwell
Join Date: 2010
Post Count: 30
June 13, 2012 - 5:49 am
Yes, I agree with Richard (being a former Mortgage Broker) that the loan structures and foresight is the foundation of your portfolio and must be done correctly and suitably refined as you grow and/or adjust your goals and needs. You MUST have a proactive broker that is looking after you. Building great relationships is everything! you will find that when you find the right relationships, they will be happy to refer you to other experts that can look after you in allied professions, further providing you with the tools to create success in property.
Well done, with your research and initiative!
John Maxwell
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@john-maxwell
Join Date: 2010
Post Count: 30
June 13, 2012 - 5:05 am
Make sure you do your FULL research on how the NRAS may and/or may not benefit you. I know many Agents who have moved away from the scheme for different reasons. There are also numerous who fully understand the process and are working the model very well.
John Maxwell
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June 13, 2012 - 5:01 am
I agree with the comments recommending caution with small regional town that don't have the infrastructure and demographics for the long term. There always needs to be a balance between growth potential versus rental return … research, research, research. The deals are out there but you need to know how to identify them and how to negotiate win/win scenarios. <moderator: delete advertising>
John Maxwell
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@john-maxwell
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June 13, 2012 - 4:50 am
I agree with the comments …. to achieve complex deal required ‘excellent communication skills’, excellent knowledge and expertise, and face to face meetings to build a relationship and create a win/win result. If you can understand what the vendors needs are (this includes their pain/ problem) then you can focus on meeting their needs within your needs to close the deal. It must always be built on a foundation if integrity or it wont work. Hope this helps …
John Maxwell
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@john-maxwell
Join Date: 2010
Post Count: 30
June 13, 2012 - 4:43 am
Just remember that in Perth they mostly refer to conveyancers as ‘Settlement Agents’ … a small point but important to know none the less.
John Maxwell
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@john-maxwell
Join Date: 2010
Post Count: 30
June 13, 2012 - 4:39 am
Hi Newsam,
I’ve never heard of this company either … The closest to this name I have heard of is’ Advanced Property Strategies’ but I don’t think you are referring to them.
I also agree with Richard about the ‘one stop shop’ strategy. I feel most of the time this strategy comes from a foundation of greed rather than being of service. I’m sure there re good intentions in there as well. I’d much rather deal with specialists in the related fields of expertise!