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  • Profile photo of New Investor 01New Investor 01
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    @new-investor-01
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    December 19, 2010 - 12:59 am

    Hi guys

    Likewise, I'm looking for a copy of the latest Carly Crutchfield Pro-Develop Program (with home study DVD/manual course) and maybe also tickets to the live 3 Day Boot Camp? I want the feasability software and Vendor Finance contracts included.

    If anyone is looking to sell theirs please PM me.

    One question though – to actually become a registered student to utilise the JV structure she offers, can this be purchased from C Corp at a later date, does anyone know?

    Cheers

    Liv

    Profile photo of New Investor 01New Investor 01
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    November 30, 2010 - 6:28 am

    Hi James

    Yep I agree with you RE cap gains tax on off the plan purchases. I'll check it out.. need to speak with the bank soon I think!

    Super keen on US property for growth potential, but I'm nervous about the state of their economy, and how long it will take them to get out of the absolute mess they're in. What an extraordinary time in global economics…. europe's future's another big question mark!!

    We certainly are the lucky country, but we're also living in an undeniably inflated property market and an economy that is defying historic odds having not receded for nearly 20 years…

    So while the US market seems/is fraught with problems… there's a lot less to lose investing over there! Provided you tread carefully and get the right advice.

    Good luck to you also, it's good to know others are going through the same journey!

    Cheers
    Liv

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    November 29, 2010 - 10:06 pm

    Thanks Martha,

    I've put a 10 year plan into a spreadsheet basing all the variables (like interest rates etc) on worst case scenarios, and have accounted for cap gains tax. I hate it already and haven't even been hit with it yet! :)

    To value add – yes exactly that sort of thing, subdivide, build and sell. Actually just last night we were advised of a new syndicate opportunity coming up for a development in Melbourne's northern suburbs. Same sort of thing – townhouse or unit development, just small to start with.

    Very quick question – I'm also considering making a quick buck buying an off-the-plan property and selling off after the build. Do you know if the 12 months for capital gains tax starts from project completion date? I suppose it would…

    Thanks for sharing the info about borrowing power… the situation doesn't seem quite as grim as I thought. I'll look into it further.

    I really appreciate your time and advice, thank you! Are you going to send me some info on your US opps?

    Cheers<br /;)” title=”>;)” class=”bbcode_smiley” />

    Profile photo of New Investor 01New Investor 01
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    November 29, 2010 - 9:29 am

    Thanks Martha

    Hmm I suppose when you put it that way…. may as well have a bit of fun with this. Bare with me, thinking out loud!

    What do we actually want ultimately?
    – By 2020 we'd like to be making $20k/month passive income through property.

    In the shorter term:
    – By 2015 we want to replace my income of $4,500/month net.
    (FYI – I got my partner's net income wrong earlier, he nets $6k/month, almost completely passive which is great).

    So in order to achieve this, I think what we need right now is a fast-profit buy & sell strategy that doesn't consume so much time I have to leave my job. Although I am willing to reduce my hours slightly if that's what it would take. I'm even thinking about a career change into real estate/property development so my work hours contribute to our personal invesments, and also to build up all the necessary contacts.

    I'm very interested in options/flips, subdivisions, off-the-plan buying, and anything fast basically.

    One thing I need to better understand is borrowing power – for example, once we already have a couple of properties and want to buy a third (say), but of course our disposible income will probably be down to $50k/year since we'll occupy one of the properties. If the 3rd property will provide positive cash flow, does that necessarily mean I will get the loan? From what I understand, banks only take a portion of rental income into account when assessing risk.

    Thanks again for everyone's help. These forums are fantastic, wish I knew about them a long time ago!

    Much appreciated,
    Liv
    PS – crossing fingers for stamp duty reform!! bloody great.

    Profile photo of New Investor 01New Investor 01
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    November 28, 2010 - 9:01 am

    Thank you for both of your responses :)

    The goal is to begin acquiring as many properties as possible, hopefully all (or most) bringing in enough rent to be self-sufficient, just to completely cover the repayments, and then go for growth. The only reason we thought one property in the states would be a good idea to start off with, is the low entry cost (would aim for something between about $50-80k), and the obvious potential growth.

    Definitely not opposed to doing a reno, have great contacts within the industry to be able to do one. Our only limitation is we don't want to reduce our working hours at all as it would obviously affect our income and borrowing power. Ultimately I want property to be our primary income, and at that point (when we can free ourselves of our jobs) we would switch to a buy, reno, sell strategy. But until we can get to that stage, we need to keep working full time.

    I suppose my main question is, 'is $600k too much to invest in our first property if our bigger picture aim is to acquire as much property as possible?' Should we be shooting lower?

    I hope I've answered your questions…. thanks so much for the advice, it's most appreciated!

    Cheers
    Liv ;)

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    November 28, 2010 - 3:52 am

    http://www.poweproperty.com.au/ – my cousin Clint Smith works for these guys up in Cairns, and they have a very good reputation up there – good work ethic.

    Check them out.
    <br /;)” title=”>;)” class=”bbcode_smiley” />

    Profile photo of New Investor 01New Investor 01
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    November 28, 2010 - 1:44 am

    Hi all,

    Martha – could you please send me further info?
    Cheeves Financial – could I also get some info on your project?

    I'm a first time US investor, just scoping out the market at this stage but very interested in syndcation.

    Cheers
    Olivia
    [email protected]

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