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Leigh
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@leigh
Join Date: 2003
Post Count: 130
July 20, 2003 - 11:56 am
Hi Wild Nothing,
I’ve been to the Richmastery Property Academy seminar and from what I’ve seen of these guys (Phil Jones & David Hows) business they’re running a good operation. I believe they’re very switched on with what they’re doing and are building a business based on people as well as profit. They work closely with Brad Sugars also who’s a well known entrepreneur with a very good reputation. I don’t think they’d risk they’re reputation and further business by offerring dodgy deals.
They have a lot of property finders out there negotiating deals for them. Any property which doesn’t meet their own personal criteria but is still a really good deal they’re offering to other investors through their web site.
If you do your own due diligence I think you shouldn’t have a problem.
“If you can count your money, you don’t have a billion dollars”
J. Paul Getty
Leigh
Member
@leigh
Join Date: 2003
Post Count: 130
July 20, 2003 - 11:13 am
I think the US already has the answer.
They’re currently building a ‘floating city’. It’s basically a luxury cruise ship which houses 100,000 people, it’s 1.5km long and 17 stories high, has its own university, shopping centres, casinos, parklands, golf courses, airport, mariner, train line etc etc. It follows the sun around the globe docking in deep waters with its own water transport to and from the mainland. I imagine it’s also a tax haven.
Or, there’s the 2 tropical islands being built (can’t remember where) in the shape of palm trees.
I wouldn’t be surprised if it’s not that long before an underground city (anyone seen the movie Resident Evil?), floating city (Waterworld), underwater city (Star Wars), flying city (Star Wars again), or even a city on another planet (any sci-fi movie!) is on some architects drawing board []
Seriously I agree with both hwd007’s and Del’s points of view. I think that development in some areas needs to be approached in a more efficient manner. At the end of the day though it’s going to come down to consumer demand and $$$$’s, or the governments clever influence on both!
Cheers, Leigh []
“If you can count your money, you don’t have a billion dollars”
J. Paul Getty
Leigh
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@leigh
Join Date: 2003
Post Count: 130
July 15, 2003 - 12:35 am
quote:
Also with a trust, aren’t you being double taxed on your income with a trust? I mean I pay PAYG income tax and then use some of that income to pay rent into the trust and being trustee the rent paid by my income is also taxable ?
Unless it’s negitive geared, then you may even get a tax deduction against your personal income (depending on how you’ve set it all up) meaning that the rent you are paying is partly tax free income [?]
“If you can count your money, you don’t have a billion dollars”
J. Paul Getty

Leigh
Member
@leigh
Join Date: 2003
Post Count: 130
July 15, 2003 - 12:26 am
quote:
Leigh, on your other post I had to look up Warranbool to find out where the place is hiding.
And your RIGHT it’s not on my investment list.
If you keep buying properties in Warranbool you
own the whole joint in a month!!!!
Show me how to buy a town of 28,500 growing by the minute and I’m all ears [^]
“If you can count your money, you don’t have a billion dollars”
J. Paul Getty

Leigh
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@leigh
Join Date: 2003
Post Count: 130
July 14, 2003 - 11:11 am
Hi mother,
The colder the better! Bring on the snow []!
I think your idea is great regarding the photo’s, maybe we could organise an external page linked to the forum where we can all post our pics. Divide it into a couple of categories and Bob’s you uncle!
Leigh
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@leigh
Join Date: 2003
Post Count: 130
July 14, 2003 - 11:07 am
Hi Richmond,
Isn’t it amazing the opportunities that can present themselves [].
I’m very interested in catching up for a chat over a cup of coffee sometime. You never know what may come out of it.
Are you heading to Steve’s seminar on the 26th? I believe you’re Melbourne based anyway?
Cheers, Leigh
Leigh
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@leigh
Join Date: 2003
Post Count: 130
July 14, 2003 - 10:32 am
Hey johnboy,
Will keep it in mind. I had actually thought of doing it for real, not on the NZ thing but on a different strategy. I’ve got a couple of friends into the reality TV show stuff (they received a grant from Channel 10 for a reality show based around a night out at a pub!) so it wouldn’t be too hard to put it together. Maybe I could feature an interview with you on my travels – the tough competition [].
Leigh
Member
@leigh
Join Date: 2003
Post Count: 130
July 14, 2003 - 9:43 am
Hi Bruce,
I think you may have the wrong idea on tax reductions. Paper loses, the type you see from real estate I would consider ‘good’ deductions. Expense deductions, the type you see from leases and borrowings I would consider ‘income reductions’ and thus ‘bad’. Maybe you don’t pay tax because you make no money?
You may also have the wrong idea on the concept of leverage. The reason banks are willing to lend so much on real estate is because there is an asset (the property) in which to secure finance against. I’m not familiar with taxi licences so I’m not sure what a bank is willing to lend, I’m guessing maybe 60% on a business loan at a rate several % higher than residential lending?
This is why residential real estate returns are so attractive – you can put down 10% of the properties value yet get the whole rental return, the capital growth and paper deductions against your taxable income.
But, I assume you already know this because you have several properties.
Leigh
“If you can count your money, you don’t have a billion dollars”
J. Paul Getty
Leigh
Member
@leigh
Join Date: 2003
Post Count: 130
July 14, 2003 - 1:44 am
Or there’s a sofabed at my place with toast and jam for FREE []
Leigh
Member
@leigh
Join Date: 2003
Post Count: 130
July 14, 2003 - 1:41 am
Who said Sydney and Melb out perform regional areas in CG anyway? Buy in the right regional area and you’ll be surprised.
Warrnambool for example has doubled across the board in under 3 years. I was talking to a mate on the weekend who’s just got into RE (as an agent []) but he’s bought 4 cf+ properties there in the last 3 months. So cf+ and above 30% returns… In my opinion Warrnambool will continue to grow well over the next decade too, it’s such a great place (I grew up there) and industry and development are really taking off. Just take a look at council plans over the next 2-3 years and you’ll see what I mean. Baby Boomer paradise, just wait [].
Gotta hand it to you though Bruce, you made me smile [:0)].
“If you can count your money, you don’t have a billion dollars”
J. Paul Getty
Leigh
Member
@leigh
Join Date: 2003
Post Count: 130
July 14, 2003 - 1:26 am
I’m getting really excited about moving over there for a year with all of the posts on NZ lately.
And seeing as I’m keen to see all of NZ (I love travelling and adventuring) and there seems to be abundant opportunities all over the place I’m contemplating a campervan approach, spend a month in 12 thought out hot spots/areas – at least 2 of those at the top of a mountain skiing!. Will save me some $$’s on rent and I’m free to go anywhere! Hmmm… ‘The Travelling Real Estate Investor’! Sounds like potential for a documentary/reality show on channel 10 [:0)]! Anyone ever heard of ‘The Travelling Businessman’? Never lives in the one place long enough to pay taxes [8D]
“If you can count your money, you don’t have a billion dollars”
J. Paul Getty
Leigh
Member
@leigh
Join Date: 2003
Post Count: 130
July 14, 2003 - 1:14 am
Hi Harris,
Search the forum for previous posts on investing in NZ, the finance side of things has been covered a few times in good detail.
Short answer though – yes. The major Aussie banks also have branches in NZ and are willing to lend Aussies usually around 80% LVR on NZ properties.
Leigh
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@leigh
Join Date: 2003
Post Count: 130
July 14, 2003 - 1:10 am
Continueing on from the strategy Mini suggested I have seen another which looks really good (from Stuart Fitzgerald I think?).
You accumulate properties over say 10 years then when you decide to retire (the goal was at the end of the 10 years) you sell the first 2/3 of the portfolio you purchased as these properties should’ve at least doubled in value (i.e. will have a low LMV) and with the surplus cash (after taxes and existing loans) pay off the remaining loans. This strategy assumes that you only ever pay IO on your loans during the 10 years.
Actually, this sounds good for your general ‘save for a deposit before purchasing another property’ investor. If you’re savvy in the way you use your equity you should be able to build an even bigger portfolio by maintaining roughly an 80% (or greater) LVR across the board.
I’ll dig out the book and detail the method a little more, maybe I missed something.
Anyway, this worked with only about 12 properties.
“If you can count your money, you don’t have a billion dollars”
J. Paul Getty
Leigh
Member
@leigh
Join Date: 2003
Post Count: 130
July 14, 2003 - 12:51 am
I see BIG $$$’s for the person who gets in and buys 100’s of $20,000 properties this year. Remember there’s no capital gains tax or income tax over there!
Leigh
Member
@leigh
Join Date: 2003
Post Count: 130
July 14, 2003 - 12:45 am
Great post Mini (as always []),
RE: Aussie Investors heading to NZ.
It seems like there’s more and more Aussies looking to NZ as they realise the returns on offer (and also as they realise they can’t afford to buy in Australia anymore).
My question/observation is ‘What is this going to do for capital growth on a whole for NZ’. Australians are wanting positive cashflow deals out of NZ so if the returns are 30% or 15% they aren’t going to go home crying as long as they get the deal. If competition becomes high over there then investors are going to be competing on returns rather than price. This could easily double the price of a property whilst it still shows positive returns [?]
“If you can count your money, you don’t have a billion dollars”
J. Paul Getty
Leigh
Member
@leigh
Join Date: 2003
Post Count: 130
July 13, 2003 - 11:00 am
Hey, Hey.
I’ve just been discussing with Minimogul options of living in NZ for 12 months next year too.
Thinking of Queenstown (snowboarding & fun also a priority [8D]).
Mini’s getting upto 30% returns on her rentals!
“If you can count your money, you don’t have a billion dollars”
J. Paul Getty
Leigh
Member
@leigh
Join Date: 2003
Post Count: 130
July 13, 2003 - 10:51 am
I live in a new estate in Maribyrnong (inner NW Melb) and the amount of vacant townhouses is unbelievable. The properties have never been lived in, they’re really well fit out (3 storey, balconies, spas, Blanco kitchens, polished floors etc) the rent is cheap and there is about a 30% vacancy. We were offered 2 weeks free rent, an entertainment package & whitegoods to sign a lease. We’ve been here 4 months and still don’t have neighbours!
The problem may get worse too. There are several other really big estates in the area being developed – Lake Side (Kensington/Maidston), Niddrie quary, River Side, Kensington Banks and along the river further there’s also a heap of activity going on between Maribyrnong & Brimbank.
Good for tenants, hate to be holding onto one of the properties though. I believe Henry Kaye developed a lot of this area – so chances are the investors paid an inflated price too [].
Cheers, Leigh
“If you can count your money, you don’t have a billion dollars”
J. Paul Getty
Leigh
Member
@leigh
Join Date: 2003
Post Count: 130
July 13, 2003 - 12:11 am
Hi again,
There are plenty of active wrappers on this forum so I might suggest that you leave your email and where you’re from in a post. Chances are someone will be wrapping in that area and can either help you out themselves or know someone that can. Check with admin before posting though because it may be against forum rules to leave that sort of post.
You could also try ringing PropertyInvesting.com as I’m sure they’ll be able to put you in contact with someone in your area.
I’m from the Melbourne area and I’m currently looking into wrapping some properties and would be more than happy to help you understand the process if you’re not sure what it’s all about. My email is [email protected]
Good luck, Leigh.
Leigh
Member
@leigh
Join Date: 2003
Post Count: 130
July 12, 2003 - 11:44 pm
The book was only just released and these guys do a fair bit of property and business trading so I would presume that it’s something they’ve done before.
Of course there will be a lot of variables to consider.
i.e.
I would image that this would be easier, and possibly more common in commercial deals rather than residential. A lot more commercial properties would be held in a company structure.
Cheers, Leigh
Leigh
Member
@leigh
Join Date: 2003
Post Count: 130
July 12, 2003 - 11:29 pm
quote:
I thought you only paid CG tax on the period in which your property was an investment property. i.e. if it was previously PPOR then that period of growth is exempt.
True. I guess it depends how long you’ve owned it as a PPOR, and how long you think you’ll continue to live there once you turn it into an IP as to how much CG could be expected.