Better late than never, I did try to post a reply in this thread last week but the internet cut out on me.

Anyway I’m 21 years young, grew up in Warrnambool, Vic. now living in Melb. I’m a final year Entrepreneur student at RMIT (only a couple of months to go!), I’m a part of the first year through so we’ve practically designed the course for b…[Read more]

Hi Youngie,

Like yourself I’m young and fairly new to the game. What I’ve found is that there’s a lot of barriers to entry in the real estate market, 90% of these are all in your mind though!

Finding the right entry point for your personal situation is what you should look at first. What do you want out investing? Is it you want an income to…[Read more]

Hi Adofunk,

Just ran your figures through an analysis program I’ve got and the property doesn’t look good at all!

I assumed a 10% deposit, 6.5% interest only loan, it’s a Vic property (for stamp duty), it’s pre 1985 (no building depreciation allowance), included a 7% property managers fee, 15% of GROSS rent as maintence allowance ($6500), $1500…[Read more]

Hi G-MAN007 and AlisonW,

I totaly agree with you that you need substantial capital growth properties to become wealthy. But how will you achieve this when you get to your 2nd or 3rd purchase and the bank says ‘hey, are you forgetting you need to be able to service these loans’? I think investing in these country ‘cashflow’ properties may seem…[Read more]

How about setting up a NZ company and purchasing property through a company trust with a NZ’er as the loan guarantor? Or setting up a partnership with a NZ finance partner to purchase property. Finance is in their name, you provide the deposit?

“All the world’s a stage, and you choose the role you want to play on that stage” William Shakespear

Hi Brent,

Do you know if Steve’s made a video or audio recording of the seminar last week? And when/if this will be available for purchasing?

Cheers, Leigh

“All the world’s a stage, and you choose the role you want to play on that stage” William Shakespear

quote:I have always specialized in Investment Property & Only for its Capital Growth – That’s were the wealth is!

The positive gear [?] Hmmm…..

quote:This knowledge I now lend to the Australian Public – the ability to be able see into the future from lessons learnt from my past 22 years in the Sydney Real Estate market – since 1978.…

[Read more]

No problems with fleas yet, but dust… well listen to this one!

I had a tradsman round at my house all day yesterday adjusting some of the doors because they were starting to stick as the house settled a little. As I came home in the afternoon I was quick to realise he’s not only a fan of electric sanders, but he also likes working indoors []!…[Read more]

Sorry my post was only meant to come across as an idea. I haven’t checked this with a my solicitor yet, but i’m looking at doing similar things so i’ll keep you posted on what i find out. Should be arranging a meeting in the next 2 weeks.

Good point of note Gordon, always run all information given to you by others past your solicitor before using…[Read more]

If you find your wrapees first you could sign them to a contract agreeing to purchase a particlur property if settled upon by you.
ie: the property would be of the wrapees choice in the first place so they should have no problem with this.

“All the world’s a stage, and you choose the role you want to play on that stage” William Shakespear

If you are looking for the cheapest alternative try the trading post. Not sure which section it is but there’s always properties in there going for next to nothing, even a handful ‘free to a good land’ [] I think they’re mainly from people redeveloping land and are hoping someone will come and remove the existing property rather than having to…[Read more]

I think you’re possibly looking at 2 main outcomes here.

1. The business defaults on the purchase contract and loses their deposit money ($15k).

2. They sell or assign their option to purchase to another entity (possibly for a $15k), but this will incure a double-stamp duty and if as you say it’s about $49k won’t make it worth the hassle.…[Read more]

That’s what I thought Michael, but I can’t personally see any logical reason unless as you said you know that your income for the next financial year will be a lot lower. My first thought would be that if you’re in a position to do this (pre-pay interest with the intention of lowering your tax liabilities) then chances are you’re income the…[Read more]

Hi hwd007,

Why would you want to pre-pay the interest [?]

“All the world’s a stage, and you choose the role you want to play on that stage” William Shakespear

Hey Blueboy,

With property investing a big thing to keep in mind is LAND APPRECIATES, BUILDINGS DEPRECIATE. The higher % of land content the property has the greater the effect of capital growth. Of course another major factor is POSITION, but the main reason a lot of investors get burnt from investing in apartments is because of the very low…[Read more]

Thanks Steve,

I thought that may be the case []

“All the world’s a stage, and you choose the role you want to play on that stage” William Shakespear

Although i don’t conduct seminars i think i can relate 100% to why investors like Steve run them, let me give you my example…

For the last 3 years I’ve worked casually as a surfing instructor in the town i grew up in (Warrnambool), i still travel back every fortnight to teach kids how to surf.

Why? Well its not because i need the money (i only…[Read more]

Had a chat with the neighbour yesterday. Not a very friendly bloke, but he did fill in some gaps. The guy who owns the place is an owner/builder who’s ‘extremely sick’ and construction of the property actually started in 1994, so it’s 9 years old! They (I’m assuming family because he mentioned the daughter) still come to the property regularly,…[Read more]

Thanks for the good example Terry. My thoughts on buying below MV in order to refinance your deposit out happens several months after settlement.

Example
Same property purchased for $320k (MV = $380k)

Buyer settles on contracted date and puts down the required bank deposit say $32k/10% and also pays closing costs of say $20k, thus receiving a…[Read more]

Just regarding the high CGT if sold in under 12 months, if you are seen to be trading under a company rather than personal investing doesn’t the CGT just represent income tax at 30%?