ATM I do not have any accountant, could anyone please recommend one for someone who is just begining.
Find an accountant who is familiar with the type of investing you want to do and with whom you communicate well. Try interviewing a few, I think steve McKnight has a datasheet on this site somewhere for choosing one. And try to find an accountant…[Read more]

My basketball “net” worth was $29.95 from a sports store.

Live, Learn and Grow

Lifexperience

GR,
I see you avoid all of the control disputes and disagreements between syndicate members by taking the balance of power with 5 or 6 places out of 10. Do you still get a legal contract drawn up between syndicate members (ie to make them mules, or is it just mutually agreed)

In the setup above, does the unit trust own the property and shares in…[Read more]

elbows,
I’ve never hit another car. Cliffs, poles, stop signs are more my style (it used to be a long while ago when my ego was bigger than my driving skills as a p plater.)

I’m glad someone appreciates my humour, the more i giggle to myself, the crazier people think i am.

Live, Learn and Grow

Lifexperience

Jenny,
I disagree with Dazzlings surprising suggestion at selling at the first bit of difficulty on one minor aspect of an Investment Property…………………………………………………………..and Dazzling, I’m surprised that this came out of your mouth at all! As we all know you never shy from a challenge.

Stay true to your…[Read more]

I will have a punt on your q’s. I am definately not too experienced or an expert by any means….ok?

We are wanting a flexible structure (perhaps a company in control of several trusts?) to reflect that circumstances will change over time and various partners will not always be able to commit to a given property.Probably a unit trust for each…[Read more]

redwing,
joint owners in personal names. We wrote up an agreement detailing as many of the money issues as possible. Unexpected maintainance, one partner wanting to sell, how payments were to be done, and as much else as we could think of.

There is definately a risk dealing with other people and sometimes we have conflict when one person…[Read more]

Thanks for that ned. That seems like a great purchase.[biggrin]

Geez, 37 km from the city, 800m to the beach and a brand new house!

You would struggle to get that for 220k in Melbs……

I will have to research Perth some more.

It sounds frantic over there, do you think this frenzy has got long legs to last the distance?

Live, Learn and…[Read more]

Possibly consider wrapping or a lease option on the property, if you can’t find a tenant with some of pro-actives ideas.

I have a empty house in a town with many similar rentals and many houses for sale that have just come on the market too.

I am trying foxtel digital tv as an incentive, it might not get a tenant straight away but when tenants…[Read more]

True,
pos cashflow properties based on simple sums may not be the be all to end all.

I think growth in the long term would tend to bring greater profits.

As you point out, there are many other things to consider when buying an investment property.

” Building an IP which will give me an instant capital gain of conservatively $60,000.00.…[Read more]

They would all appear to be good investments.

Both have their pros and cons.

For me, I am still putting a large percentage of my investments towards property as personally the ability to easily borrow 95% of property from the bank and also the ability to increase the value of the property with a little elbow grease and extra yards from my self.…[Read more]

Although it may look to onlookers like you are sickly persuing money (i love this new spelling, it’s very non-conformist) I dare say the core drive for such ambitious people is to create a better and more free way of life.

Possibly conversation with negative people could be more constructive if you explained that you are just trying to make the…[Read more]

Most people I know who buy and hold property plan to hold for 5-10 years maybe more.

It is easy to compare shares to property in any single year and note that they are 20% in 2005. Shares are historically more volatile and could go down 20% next year easily.

But the strategy from many seasoned property investors for buy and hold properties is to…[Read more]

big call ned.

It’s hard to convince a crowd that there is only one correct way to invest in property.

If this idea is true and good to your particular circumstances, then best of luck, go with it.

Still, is it possibly worth keeping an open mind?, Positive cashflow is a broad sweep my friend and Dazzling just gave you an example of one instance…[Read more]

g7,
ooh i’ve smashed a lot of cars. IT sux.

Thats another reason I drive older cars. I can sleep at night and not worry about a scratch from a shopping trolley or some jerk who can’t drive.

My SANF is ok with hundreds of thousands of dollars in investment loans.

But I would be an insomniac worrying about a nice new shiny car. I love cars too…[Read more]

Quiggles,
10 years and then MORE!….. oh man, …

This sort of reinforces the other challenge I am facing which ties in with the false illusion of a quick easy road………. and that is to get some balance in other areas of my life. Throwing away time with friends/family, sport and other personal endeavours, relaxation and some luxury in life…[Read more]

Leo,
I am only small time investor in that I still work a regular job and have a modest income.

I have gone into a 3 way partnership that I suppose is effectively landbanking. About 70 acres of rural land with a house on it (now tenanted by previous owners) close to a Major Regional Centre.

It is rural and negatively geared. However it is…[Read more]

I want someone to drag my cartoon head and anagram name into court.

I will happily pay any successful law suit with warner brothers money that explodes spontaneously and turns into flowers.

Thats all folks.

Live, Learn and Grow

Lifexperience

I’d guess a conveyancer would be the easiest, but if you wanted to do it yourself maybe contact the titles office…

I’d Try the conveyancer who bought for you, they might give a discount as they have all the paperwork from last time.

You will probably have to pay stamp duty on the 20%.

I would also guess that you would have to pay Market…[Read more]

Initially a RE Agent may be a bit dismissive of us young ones, BUT If a RE Agent thinks you are likely to make an offer, they quickly try to become your friend.

An accountant starts off friendly and If you keep paying an accountant on time, they will stay your friend.

A broker will always be friendly and helpful, they love commissions.

A Bank…[Read more]