Thanks Paul!

I had heard that someone called Thad was who I had to speak with but had no idea who he was! There can’t be too many Thads around – so I’m sure this is what I’m looking for.

Thanks for that – you’ve saved me a lot of messing around trying to find him.

Greg

Thanks everyone!

Thanks for that.

Oldtimer – how do brokers typically get paid in this situation? A flat fee?

How is this type of networking done legally then? How do you get the necessary authorisation?

Hi Groova

If I were you, I’d start by determining exactly what strategy I want to focus on: buy and holds; wraps; renovations etc.

Also, the API magazine has rental yields (although not every month and not for every state!!). If you’re going to focus on +ve CF properties, then yields will be more important that CG.

Pretty certain you wouldn’t get this info for free – maybe try the Residex Reports or something similar.

Hey Pat

I’m in exactly your position – just finished uni and about to start work in March. I thought about working in the property division a lot and spoke with a fair few people around the firm where I am going to be working about it.

I’ve previously worked in the property division of a firm for a couple of weeks (vac work) and didn’t find it…[Read more]

Hi Wendy

I don’t think that the ATO would look upon that too kindly. Can’t say for sure…BUT, didn’t they recently crack down on that type of strategy with split-loans?? I.e. Paying off all of your home loan debt first, and then paying off all of your investment debt later. What you are proposing seems fairly analagous to that.

There are 3 ways that Steve recommends in his Wrap Kit to calculate how much principal is owing and how much interest has been paid etc:
– An Excel spreadsheet that you programme yourself to do the numbers
– Home Loan Analyser (Deluxe) which is a software programme that costs about $100
– Wrap Around Mortgage Manager (WAMM) which is also a…[Read more]

Hey skm

I’m in a similar position: young, very little cash, no job (although I’ll be starting full time in March) etc.

I’ve been a bit of a procrastinator for the last couple of years: I’ve read heaps of books and done a lot of research, BUT, at the end of it, I’ve got nothing tangible to show for it.

I just went to Steve’s Masterclass which…[Read more]

Hey jcls79

I’m very much a beginner with “wrapping” – I’ve just finished going through the wrap kit and haven’t yet done a deal.

My understanding is that:
– you cannot wrap the property before you have settled on the property initially – that is, until you are the legal owner.
– once you are the legal owner, you have to include the wrap terms in…[Read more]

Hi ivanaw

It seems that your main issue is how you can recoup the money you’ve spent on the renovations.

From what I can gather, there are two possible scenarios: you will be treated as being in the business of property development/renovation; or you will not be treated as a business.

If you were found to be in the business of property…[Read more]

Thanks for the tips everyone.

Still not 100% sure what we’ll do, but will consider all the advice!