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  • Profile photo of JStPerthJStPerth
    Member
    @jstperth
    Join Date: 2003
    Post Count: 3
    April 27, 2003 - 8:31 am

    Hello,
    Not Steve here but will attempt to answer:
    2 reasons
    1. Don’t forget medicare levy 1.5%
    2. Non-cash tax deductions (depreciation and borrowing costs) $7253. This was on the fact sheet for the Cairns Beach Resort, which wasn’t in my Property Secrets Revealed but when I contacted Brent he gladly sent one. I recommend you get this if you haven’t got it.

    I just re-checked Steve’s numbers & it is correct – for 1 property tax payable is $12,039.
    Steve’s a Chartered Accountant he must be correct ![:D]

    Profile photo of JStPerthJStPerth
    Member
    @jstperth
    Join Date: 2003
    Post Count: 3
    April 27, 2003 - 8:01 am

    I agree with the advice provided so far on this topic. I too went to a seminar recently in Perth.
    I am a bit of a sceptic and suspected DIY with proper research should give a better outcome. Good information though especially for inexperienced investors new to property investing.

    Buying through the I.C. though makes me sceptical & 1 post referred to it as 2 tier marketing which could be correct – & only get “benefits” of club membership if buy 1 of their properties – typically new property that the club is linked to.

    I read the info provided right through and found FAQ.22: Q. “What does the Club get out of this ?
    A. Any Club Member gets a reward for helping fellow Members put their wealth creation plan into action. You too can benefit by referring friends, relatives or colleagues to the Club who make a purchase. We only get paid after we’ve negotiated with the vendors so their price to Members gives the market of 0.5% better-than-market rental return.”
    Sounds like some tiered caper to me.

    ASIC query ? I think I read somewhere or they advised at intro seminar that the “No tenant? No Problem!” program was disallowed by ASIC.

    I would be interested in hearing from others who have been involved with the I.C. please [?].

    Thanks

    Profile photo of JStPerthJStPerth
    Member
    @jstperth
    Join Date: 2003
    Post Count: 3
    April 9, 2003 - 9:29 am

    Steve,
    I agree with many of the compliments that have been made. It is an enticing introduction and the notion of gaining a day is paradigm shifting. I would be interested in reading it. I am working through your “Property Secrets Revealed” (not quickly enough though !) and I am sure you can include a lot more “flesh” or material of substance in a book format than this CD/workbook format.

    Pedantic point, I am also a Chartered Accountant and you are probalby correct in that you were involved in the “professional year (PY) program”. It is now referred to as the “CA program”.

    Regards
    JS[:I]

Viewing 3 posts - 1 through 3 (of 3 total)