Hi all

Congrats on the new book Steve, and to all the Mappers for their success – especially will and del (only ‘especially’ Will and Del cos I’ve ‘chatted’ with Del heaps through this forum)

It was a bit of a bummer having to wait until Christmas to read it – guess that’s what happens if people need to know what you want for Christmas….…[Read more]

Rodie

The best ‘strategy’ I have found of getting out of debt is explained in John Burley’s book ‘Money Secrets of the Rich’. It’s also got other fantastic ideas in it, so I recommend you start there – after you’ve done as the others have suggested with regard to boundaries and stuff[biggrin]

Cheers
Mel

Henry, check out mortgage hunter’s website for the info on the FHOG for your state.

If you buy a house after 2000 (ish, can’t remember exact date, but know that it’s not really relevant as 2004 is definitely after) and do not ever live in it, when you come to purchase a home that you will live in, you are eligible for FHOG. In some (maybe all?)…[Read more]

Thanks for your excellent responses Peter.

I’m pleased to say I’ve finally finished your book (will be re reading shortly), and really liked the part where you explained your opinion on negative gearing and positive cashflow. It reaffirmed what I’ve been doing for the last 10 years (only 5 of them seriously though)…

I don’t think you’ll get…[Read more]

Hey Peter

Glad you could drop in. I’m in the process of reading your book – normally I finish a book in a day, but I’ve been doing a lot of babysitting which is full on – I love the stories of your ‘grads’ that you’ve got in the book….

One quick question – it says all over the book that your ‘other’ books Wealth Magic and Little Pot of Gold.…[Read more]

afghangirl, Calron’s original post actually outlined details of a specific deal that he had, and was asking for private investors.

Hence my initial reply. And then the discussion re advertising – which it was really. The current post I think is a good one, as it’s a general question, but is also open to people contacting him for details if they…[Read more]

You can do a diploma in financial planning by correspondence – but I can’t for the life of me remember who offers it. If you contact the financial planning assoc as Stu suggested, they’d probably be able to tell you.

To actually ‘qualify’ I think you only need to have done modules 1 and 2 of the 8 part course…..

Cheers
Mel

robert, if you signed the contract to sell in this financial year, you have now got a whole year to make plans to minimise your taxable income.

One way of doing this is to prepay your interest in June of next year (for your other IP), thus basically doubling your interest payments which are a deduction.

If you signed the contract last FY, there…[Read more]

electron, you could purchase your new acreage house, and keep your current one as an IP. I would immediately make your current home into an interest only loan, with an offset account, and have all extra money sitting in that account.

when you do buy your acreage, pay all surplus cash (including extra rental) into that loan to pay it off as quick…[Read more]

Originally posted by SteveMcKnight:
May I just add that the amount of depreciation for accounting purposes (matching expense with income) is rarely the same as the amount of depreciation that can be claimed as a tax deduction (using rates as set out by the ATO).

Any difference is reconciled through the ‘tax reconciliation’, which is a document…[Read more]

Acey, are you talking about the Search function on the left under Forum Boards (which I have always had great success with), or the one on the top right of each page – which IS lousy…

Cheers
Mel

Lucifer, where do you get 15% CGT from?

Cheers
Mel

Hey Kay

Nope. Got no money

I’m taking a look/listen at Hans Jakobi’s at the moment though – and i’ve had about 5 phone calls, and 4 letters from jamie McIntyre asking why I haven’t bought his home study kit yet! I think I’ll pass as i”ve got all the Peter Spann stuff which seems to be pretty much the same, and at least he calls writing…[Read more]

Jeff, it definitely is something a solicitor should know – or be able to find details of! Yours may not have dealt with them before though…

Cheers
Mel

Good call Acey[cap]

Caz, if all it needs is carpet, paint, and cleaning, it should be easy enought to get rough quotes from cleaning, carpet, paint companies etc., then work out is it worth it. Instant equity is always a good thing – are you sure you are not in a position to purchase? If it’s been on the market so long, perhaps a lower price is…[Read more]

Wow Grreg, I’m intrigued how your brother could be done out of money when he was a seller! I’m wondering too if I’ve spoken with those same detectives at Cheltenham..[thumbsdownanim

My Dad bought a chainsaw from ebay, which duly arrived, but will cost $300 to repair!! the seller basically told him to get stuffed, and hung up on him the second…[Read more]

Cel, I would always use DV, as you get higher amounts back in the first few years, plus as time goes on, the $$ are worth less thanks to inflation, so in effect you will be getting less of today’s $$ back in future years….

Cheers
Mel

Sir Peter

I think you are in a great position to purchase more property. Although your Oxford property seems to be costing quite a bit each year, your Perth prop should be paying for itself, and has a nice chunk of equity….

If you spend a bit of time looking (as Simon has suggested) and buy a property that is close to positive, your overall…[Read more]

ted, I think there was a similar question a few days ago…

Basically to get a corporate tenant, look up relocation agencies in the yellow pages and/or contact companies and ask them if they have an in house section that finds leases for their workers transferred interstate. I’ve also found that some real estate agencies handle them – but you…[Read more]

tedman

How long is the building proces? I think it would be rare that you could get subject to finance if building was not due for completion for 12 months or more, however it can be done.

You would need to get your solicitor to check the contract to see if it could be onsold. I think most allow it (I have done several), but some may not.

Why…[Read more]