Forum Replies Created
Thankyou Pete
Paula
Hello tgavin71,
As far as adding value definately go with the 2nd toilet. Try to incorporate an optional bath in the shower like mentioned before, but keep in mind if your adding a 2nd toilet to gain the max capital benefit, you will have to go threw council. Youll have to get plans drawn from a draftsman and lodge them. That way if you sell you can advertise it legally as having 2 toilets!
Hope this helps
Kind RegardsPaula
Hi Dianne,
If your like me you have to read and re-read peoples replys and advise to be able to understand it.
I can’t recommend Wealth Creation enough to help you with your question. Its simple to read and will answer many more questions including how do you get your money out.
I hope this helps.
Goodluck
Kind RegardsPaula
Hello Grossrealisation and Richard,
Thankyou for your questions, what Im looking for is a stratagy as Im finding alot of properties seem to be $20,000 or $30,000 too much. Everything else fits fine but this seems to be a pattern, or a problem I need to solve.
I was wondering if (Im pretty sure I read this in one of Steves books) about 2nd morgages, I think there called.Im new at all the terms so please forgive me if Im alittle unclear but I will try.My simplistic understanding is that I could put down a cash deposit (small), borrow 80% from the bank and arrange vendor finance for the balance
(say for 5 years with the vendor paying interest only in the meantime)After 5 years I could sell the property, pay out the vendor, and pay out the bank.
Benefits to me is Ive had a positive cashflow property for 5 years.Im looking at doing this in Western Australia
but have no idea where to start.I hope this helps you understand what Im enquiring about.
Im looking forward to your replys
Im pretty excited about this possible structure for me.
Kind Regards
PaulaPaula
Hi G7 and hrm,
Thankyou for your great advise, you have sparked some other questions if you could help me with I would be very appreciative.
Offering $20,000 less- is this considered lowballing or is that common practise?
You mentioned depreciation- how old does the building have to be and how would I work this out?
Could I claim the purchase costs at tax time?
Thankyou once again I am looking forward to your replys.
Kind RegardsPaula
Thankyou Grossrealisation for your great advice, it is very much appreciated
Paula
Hi Rob_W,
Thankyou very much,I have been incontact with Alana and Brett and looking forward to meeting them.
Im wrapped thankyou again
Kind RegardsPaula
message for Cata,
I appreciate you advice as everyone else’s too,
I am swaying towards waiting to set up my structure mainly due to the GST i wont be able to claim back.
I am alittle confused with your reply though,
what your saying in your first message made sense to me, but in your next message you say waiting is nonense?
Could you please tell me more directly, Im sorry for my simplistic way of thinking, should I buy this property in my own name and start my empire once I have my structure in place?
If I bought it under my Structure, which will be a company as trustee for my trust, when would I be able to claim GST? Is it only when I sell the property? Or next financial year? It would have a 7 year + 7 year option on the lease so I think if I can claim the GST only when I sell then this probably wont be for some time.
THANKYOU TO EVERYONES RESPONSES YOU ALL ARE WONDERFUL.
Kind Regards PaulaPaula
Hi guys,
Thankyou for your responses,
I’m not sure if I was clear on that even though this will be my 1st property, it will be the beginning of my empire.
So I wonder if this means I should be thinking of the Structure first. I understand it wouldnt make much difference if it was going to be the only property I buy.
I read today in Wealth Creation about shelf companies and trusts. Has anyone had any experience with these and will they be faster to set up than 5th October (my appointment with my accountant)
Im very grateful of your advise
Kind Regards
PaulaPaula
Hi all,
Thanks Gatsby, thanks Zenergy
Thats just it we don’t have any ‘topics’ at the moment. We are just trying to work out a strategy, so that if anything does come up we will already know how to resolve it. Without beating are heads against a wall.John and Paula
Hi Gary,
I was also being enlightened at the Masterclass, and yes you do have the right take on what Steve
was saying. As to your second question. No changed
my mind i’m really not sure and I don’t want to give bad info. The third question is pretty easy.To source money through traditional means, starts a bit slower but still gets you the result. If your first loan got you a cashflow positive property, next time you go for a loan you will actually have more income than before. So approval for your next loan won’t be too difficult. The time consuming part is getting the deposit. Then in the future when you have a few properties behind you will find your initial deposit will be less. Hope that answers your question.
Going back to your second question again I recommend ‘WEALTH GUARDIAN’ If you want to know about structuring thats where you will find it. I personally got one myself. Haven’t got through much yet but what I have read has been very good. I am getting lots of aha moments from it.
John and Paula
Thankyou so much to everyone, I am very grateful for all your advice
Kind Regards
PaulaJohn and Paula
Hi Ridi
I love your pizza idea, can I use it too?
Kind Regards
PaulaJohn and Paula
Hello Michael,
I know how confusing this all is so if you click on shop online on the left of your screen, Steve has available a program called ‘Investment Detective” which calculates all this for you.
I hope this has helped.
Kind Regards PaulaJohn and Paula
Hi TOM1000000
Excellent question, was wondering that myself!
Now I know too.Kind Regards
PaulaJohn and Paula
Thankyou so much for your feedback. The property in question is a block of 12 units on one title for $320,000, leased out between $90 – $70 per week. We’ve just learned that it is considered commercial property being more than 4 units so the banks etc want 45% of the lending amount up front. The Vendor is open to Vendor Finance because he has found it very difficult to find people with this much cash on hand so has had the property on the market for over 12 months.
I have recently started a new job in Scaffolding. (I am the first woman to work in this industry with my place of employment) and find myself working with 600 men in a Refinery, just so I can make my dreams come true in being financially independant.
I am telling you this as I want you to see I am someone who will do what it takes to build my Postive Cashflow Property Investing Portfolio.
My question is this……. is there a person to contact, for me to talk to about my options in how to come up with a plan for me to buy these 12 units?
If the units arent quite in my reach as yet, I will post the details on this forum for other interested investors.
Thankyou for taking the time to read my message.From Paula
John and Paula
