hwd007 – a.k.a ‘The Devils Advocate’,

Do you have to have a go at everything? There were people in this post asking for basic assistance in judging a property for cashflow at a glance. There have been several people offer assistance and you seem to always come back with an obvious what if and poke holes in the assistance they’ve…[Read more]

Do the benifits out way the negatives?

If you rent your PPOR it would be classified as an IP. Therefor you can calim expenses and depreciation, but if you decide to sell the property at anytime down the track you will be subject to capital gains tax you otherwide would’ve avoided. This could be quite substantial if the property has increased in…[Read more]

Hi Evelyn,

You’ve taken the first step in identifying that property investing is a great opportunity. You now need to sit down and work backwards. What I mean by this is first set some goals, work out what you ‘want’ out of investing (is it a weekly income, to build wealth for future retirement..) and most importantly put a timeline to all of…[Read more]

[] Run for your lives!

Hi,

Just a small addition.

An easy way to get the same result as the 11sec rule (10% return) is to drop the ‘000 and x 2 to find out the desired rental return.

Example:
Property value = $60,000
Drop the ‘000 = $60
x 2 = $120 weekly rent for a 10% return.

If you’re good with numbers you should be able to see the picture without thought.

$35k…[Read more]

I came across the abundance theory (or something similiar) about 18 months ago and made a conscious shift in the way I viewed things, reacted to situations and treated other people. I’ve always been a person to help others and treat them as you’d expect in return. However, over the last few weeks I’ve met several people that have challenged my…[Read more]

Hi there,

I’m employed by Centrelink [], I get paid to surf, snowboard and learn about real estate. It’s not all that it sounds though, I have to go to uni once or twice a week [].

I do my part in the summer teaching kids and people with special needs how to surf and sail.

Leigh

“If you can count your money, you don’t have a billion…[Read more]

Haven’t filled in my tax return yet, but my account did a little research for me and said that I can claim the seminars as a deduction because i own other investments – shares (which I just sold some of to attend Steve’s next seminar!).

“If you can count your money, you don’t have a billion dollars”
J. Paul Getty

hi guys,

There’s a previous post over the last week about Richmastery’s seminars. I attended the intro seminar and the 3 day one last year.

quote:Their event is long 10-hour days, too.

24 hours – 4 hours sleep between days = 20 hours in my calculations! Well it’s actually about 40 hours of learning contact (not including lunch/dinner/breaks)…[Read more]

Stuart,

You impress me with every post [8D]

There was a paragraph in that document which stated

quote:We consider that self-education expenses are not deductible against payments under the following Commonwealth educational assistance schemes:
(a) AUSTUDY;

As I am currently receiving an AUSTUDY payment I can see that my seminar expenses cannot…[Read more]

I enquired about this one with my accounting lecturer at uni. He said that you should be able to claim the seminars as an expense for 2002-2003 as an educational expense incurred to generate a future investment income.

Maybe this is why he’s lecturing at uni instead of owning his own practise? I’ll be getting my tax done in the next week or so…[Read more]

Another quick one – You can borrow most real estate books from libraries for free. I’ve borrowed a good 20-30 from my local, then bought about 5 of the ones I thought were really good. Just borrowed Real Money, Real Estate by Brad Sugars, Davaid Hows & Phil Jones – the guys from Richmastery for those who are talking about attending their seminars…[Read more]

Some banking ones:

If you use an eftpos card for transactions consider getting a VISA debit card (wont let you go below $0). This way you can put all of your transactions (except ATM withdrawals on the credit function and you wont pay any transaction fees.

The Adelaide bank offers 5% interest on their savings account with access via a cheque…[Read more]

Add to this the banks pushing for people to borrow against their equity and also making it easier to qualify for new loans and credit cards and I think we may see a period of high foreclosures.

Generally though, I can attest to the increase in consumer spending and living on borrowed money amongst younger people. As soon as you’re out of uni and…[Read more]

Bring on the clowns?

Hi trying,

$606,000 is what you can borrow based on your current asset base. However, if you are aquiring new assets then I would assume you could borrow a lot more. My calculations (subject to servicability) would be as follows;
The $606,000 you could borrow as a ‘deposit’ towards further assets. Therefor allowing you to purchase roughly…[Read more]

Hey C2,

You should be looking right into doing some investing if you can get loans at 2.5%. What are the basic qualifications for these loans and what sort of fixed rate and duration can you get on them? If I was in your position I’d be snapping up properties left, right and centre by using Australian JV partners!

Stuart,

As mentioned above, I…[Read more]

Yep, just checked their site, it’s on the 2nd of July. Check out http://www.richmastery.com they also have another site Entrepreneur Success Centre. Not sure the site address but I’m sure there’ll be a link on richmastery somewhere. These guys also own and run the NZ Property Investor magazine.

“All the world’s a stage, and you choose the role you want…[Read more]

Nice one Ozbroker! I’ll pass on the link to my friend, I’m sure he’ll be having second thoughts about it.

Raises an ethical question though, should we judge someone on mistakes they made 20 years ago? I’ve told him to have a good look at the article and he’s actually going to approach Victor about it, see what he has to say! He’s going to still…[Read more]

Hey guys, the seminar you’re going to is an introduction seminar. For the price you’re paying it’s worth the look, but their full seminar is a 3 dayer up on the Gold Coast for about $2,500-$3,000. I attended their last one in november ’02 and it was a great week. They also have their own analysis and aquisition software which is very useful…[Read more]