Forum Replies Created
Hi Marissa,
Like you I am also interested in the SW. I was born there though and being a self confessed ‘lover of the West’ Im a bit biased towards the region.
This might be worth a look though –
Agreed asdf,
How could one expect to relax in a place like that? I mean whats the sound of ocean compared to the humm of 6 oclock traffic.
P.S. will PM you later today with some info on the questions you raised yesterday.
Hi again,
The reason I ask is that we have had a bit to do with a development in busselton at the moment – Cape View (near Broadwater on the beachside).
From what I last heard no pre-sales were being taking for a month at least but? A couple of our clients had submitted Expressions of Interest on some of the apartments.
I agree with Marisa – alot of the resort developments in and around the South restrict CG, primarily through the 10+ year Long Term Management Contracts.
The Cape View Development is a little different though. With that one you can opt in and out of Management Agreements and give as little as 3 months notice to withdraw from it. So you pick up the freedom of being able to use yourself when you want, book out when you want or use the Management Agreement should you need. And hence it gives rise to the possibility of CG when others don’t.
Just my undertstanding but, could be wrong.
Hi bootylicious,
Is it a resort style apartment or stand alone? Theres a couple of developments happending down there is it beachside near Broadwater?
Thanks Ecatt!
Had some ideas of what that type of bambood/read natural fencing would look like but that articles fantastic!
Thanks a heap.
Hi ausi ski bum,
Just wondering how much of a % your IP takes up as a proportion of your SMSF investment portfolio?
Do you find that all outgoings (maintenance, management fees ect) and income received must be paid for and received on the same 60/40 split?
Have heard of several people wanting to move into this but the paperwork, time and costs involved were to significant. Good to hear someone has a strucutre that works would be great to hear more.
Sorry..think Ive just asked more questions than Ive answered. [confused2]
Thankyou for the posts fernfurn & jhopper,
This forum never ceases to amaze me with the wealth of information you can draw from others experiences.
I think Im going to go the combination approach. Paint the asbetos fence and shed (to act as a sealant as suggested fernfurn) and then have a look at the lattice or reads infront secured by wooden or rust-proof metallic pools.
Thankyou again for your suggestions and the extra help on ‘how-to’ implement, as I would have probably gone and drilled through the fence without giving thought to the health consequences!
Really appreciated..will try and now put all your info to good use.
Hey Jesse010,
Thanks for the reply.
That sounds like just what im looking for. What type of costs were involved? Type of thing that could be done in a weekend?
Hi matt_hooper,
Ive been looking for something like that for months! Im in.
Unfortunately I am based in WA but would be more than interested in helping in anyway with the website idea and even perhaps looking at setting up a WA branch.
Im 22 and have a few friends that would also be interested as well as clients with children who Id be happy to pass on details to of ‘The Young Investors Club’ or alike.
Happy to look at helping with marketing, recruitment, organising and even capital if the forumla’s right.
Thanks for the replys,
Firstly – the more critical & sceptical the better grossrealisation.
Although there maybe an investment possibility some may like to look at, what Id appreciate is genuine feedback on the developments and/or the final PI’s.
The more feedback and comments the better. I myself don’t have alot to do with the development side of the company so it would be great to build on my knowledge base not just through the firm I work for but also through the views of others who work/play in the same field.
Nothing is better than pure unbiased feedback to learn both sides of the coin.
Not sure where I mentioned having the experts in the company Derek(?), or though the directors are quite innovative in what they do, Im sure there is always someone out there that has another way of looking at things or knows more on a particular subject. I am yet to meet an expert who knows everything.
Thanks again.
Hi all,
Thanks for the replies.
I’m fairly new to the forum and hence the request to see if it would be appropriate to post. I shall post info on the projects we currently have in Busselton or Fremantle & Lancelin in the next couple of days.
It would be interesting hear people’s thoughts (especially from interstate) on the actual developments (underway & in pipeline) then get some feedback about the individual PI’s themselves.
As mentioned, Im the junior in the office and it would just be great to hear the thoughts of others for my personal benefit.
Might even pick up some feedback I can impress the boss with.
Fantastic,
Thanks Grossrealisation,
Will have a look over lunch. Much appreciated.
If anyone has any other opinions on a good broker, please keep them coming.
Thanks again.
Hi Jhopper,
Thanks for the reply. Will have a look at them.
Did you use any broker in particular?
Hi herks,
If you drop me the details via email Id be happy to have a look at it.
We are currently looking at a similar deal in Perth and are always on the look out for investments suitable for clients and/or to take an active role in.
Can’t promise anything but more than happy to view.
Hi,
First & foremost I must point out this is general information and takes no persons/entities goals and objectives into consideration.
I agree with the previous posts – please check the advice you are receiving as there are several angles to take under consideration if your parents were going to move this way.
As the ATO points out in their 2004 publication:
“You must ensure the level of investment in business real property still meets the investment strategy of the fund, including diversification of assets, liquidity and maximisation of member returns in the fund’. .A fund with 100% investment of assets in business real property could struggle to meet these requirments.
As with other superannuation fund investments, there cannot be a charge over a property ie. a loan or covenant.”
NOW – thats if the ATO deems it to be business real property and as it encrouches on things like ‘Aquisitions of assets from a related paty’ , ‘Arms length investing’ & ‘In house Assets’ they would have to be extremely careful.
There are MASSIVE penalties if you get it wrong.
Not trying to scare you here or deter you just want to point out that it does seem like a bit a grey area to most who have responded and even to those your parents are seeking advice off – so is it really worth risking it?
Also, grab a copy of the ATO’s latest – Roles & Responsibilities of trustees and have a read. Quite information as is their DIY SUPER -Its Your Money But Not Yet hand book.
Hope that helps.
Hi,
Im not sure how far your PI travels are taking you but if you head across to the country to WA at some stage, Id recommend Rob Prouse, of Rob Prouse & Associates to fill the accountancy role.
Id be happy to pass on his details if you needed. Thats who we recommend for the SMSF and Property needs of our clietns. He’s a PI himself so that definately helps.
Hey Badger,
I agree alot with what the past two post have mentioned..
First step is to break it down into the basics like:
What are you prepared to lose?
What areas of the stock market are you looking at gaining exposure too (eg what industries, countries, companies)?
Whats your timeframe and desired returns?I recently tried a trial subscription to intelligentinvestor.com.au. Can’t recommend their investment recommendations as I haven’t looked into any but found the general information on companies, trends, events and so on really easy to follow and interesting – I don’t trade myself but its good to keep up to date for work.
But to start with might try asx.com.au (the aussie stock exchange). Great info for beginners like us and u can download a pdf somewhere that gives you the basics (think I got it saved somewhere if you cant find it)
One last tip – dont pay for anything. Use all the free trials and to subscribe to the free email newsletters – its a wealth of info.
Dont get caught up in the hype. Just because the Aussie stock markets performed well recently doesn’t mean it will continue to.
TAKE YOUR TIME.
Hope that helps.
PS. The above is general information and should not be considered advice of any nature. It does not take into account any personal needs, goals or objectives of any individual.
Hi K3ymaker,
We use to deal with ,and reside next to, the firm that was behind Burswood Towers that is being built just back from the Pensiula.
From what I gathered (this was a few months ago) the demand for purchase of the properties off the plan was quite high and they had some interest from overseas.
There’s quite a bit going on in and around the Burswood area from the new hotel, to the upgrade and construction of apartments along Great Eastern Highway (backing onto the river) and there was talk of some re-zoning around the Pensiula itself (where its currently light-industrial I think).
Was pretty ‘gossip-based’ what I heard but from an observational stand point things definately look like they are moving in and around the area.
Not sure if that helps? Hope so.
For most people, SMSF are a question of cost – but there are other points of interest to consider.
Matters like control, the ability to combine superannuation with a partner (eg providing larger capital backing whilst funds are still accountable to each member), tax deductibility of personal insurance (although there are access issues to address with TPD payouts) and a greater, active involvement in your retirment savings are all things to way up.
We have a number of clients with varying SMSF balances. The main ongoing costs of accounting and audit fees can always be negotiated to – simpyl by changing accountants. Can’t instantly turn around to Fund Manager or their admin team and say ‘Hey, your charging too much or lets talk bottom price’. SMSF’s can be alot of work but also quite exciting.
Nobel..what mezzanine investments are you looking at with a 20% return? Always on the look out for new SMSF investments.
Hi Purple Kiss,
Huge thanks! Thought thats what they may have been.
