OH no! Reddy just doesn’t have the same ring to it….

Or Blue? Is that just a military nickname for redheads or is it Aust wide?

Cheers
Mel

All of the Rich Dad Poor Dad books.
Anytning by Robert G Allen (Creating Wealth, No Money Down, Multiple Streams of Income, the One Minute Millionaire) – American, but still some really good concepts.
John Burley Money Secrets of the Rich, and Powerful Changes (psychology one).

Lots of others, but can’t get to my bookshelf at the moment – lots of paperwork involved when you own property.

Cheers
Mel

Happy Birthday Arty.

Cheers
Mel

try realestate.com.au

don’t know about Vic, but it does come up with some for nsw and qld.

Cheers
Mel

the browser did it!! Arty, I bet ‘it was like that when i got here’ is a favourite of yours too!!!

You really just want to get your 1000 posts up quicker, that’s why it posted three times!!!

Cheers
Mel

Hi Sue

We had all sorts of hassles with our agent, and when sacking them they held back quite a bit of our money too. Check out your contract you signed with them. How many days notice must you give, and what sort of a Termination Fee do they charge. Unbeknown to me, our termination fee was two weeks rent per property, which added up to a substantial amount.

We are being refunded some of our money (although it hasn’t hit my bank account yet). My final correspondence with the agency was that further correspondence would come from my solicitor, who would also be putting in complaint to the REIACT (check if they’re a member of your states REI), and also the Department of Fair Trading. We got a fax fairly quickly saying that they would agree with our interpretation of the contract and refund our money.

They did go into other things that were lies on their behalf, but all I want now is my money back and the properties handed over to our new agent (which thankfully was achieved yesterday).

Cheers
Mel

Arty, that would have to be a pack of Tim Tams that has NO fat content!!

1. Tall, handsome, friendly, fit guy who knows how to have fun.
2. Enough passive income to do whatever I want.
3. Family and friends who can join me in No 2.

Cheers
Mel

Hey Jars

Your business must make a lot of money if it pays $200K in tax!! I would suggest sitting down with a really good accountant (I believe Dale Gatherum-Goss is in Melbourne) and discussing structures and ways that you could perhaps do some income splitting etc.

I think Negative gearing with positive cashflow (and cap gains) is a good strategy while you have a big tax bill. It is not the be all and end all, but it can certainly help.

I would agree in the current climate to possibly reducing the loans, and moving them towards cash positive, or alternatively having a trust or some other structure and buying positive geared properties in that.

Just make sure I guess that you do have some cash reserves to pay into the loans if necessary when the market eventually stops the meteoric climb, and in some areas falls back.

My advice, for what it’s cost you!!

Cheers
Mel

Flavio

One option of tax minimisation and income splitting (and also asset protection) is to purchase your properties through a trust structure. My aim at present is to have any income going to my parents as they are retired. Once I am confident that they have enough income to do what they would like in their ‘golden’ years, I will start channelling income towards myself.

Cheers
Mel

Steve and Dave managed to fund their (I think 4th) later purchases by wrapping them, and receiving and using the wrappee’s deposit to fund further purchases.

If you get $10K deposit, you, sorry Fred could probably achieve his goal.

Cheers
Mel