http://www.propertyinvesting.com/forums/getting-technical/legal-accounting/6144

this is the post i was referring to… interesting to no if my uni fees will be deductible as i am full feeing and paying upfront. Also if i have paid a year already (last year) and havent claimed would i still be able to do so?

thanks

hi again…

im half way through rich dad poor dad and was intrigued when the author was explaining setting up a corporation for tax advantages and asset protection…. would anyone recommend doing this or setting up a SMSF, what are the strengths and weaknesses of both.

I am wanting to learn more about accounting and financial statements and also the law and the tax advantages/loopholes as advised in rich dad poor dad.

I am currently studying commerce (1st yr) at uni thinking of majoring in property and finance and was wondering what peoples thoughts about chosen professions would be… property manager, funds manager, stock broker, financial planner etc?? Im mainly interested in tax advantages/loopholes as i find this topic alot of fun. Put simply what job would u choose if u could start all over again… preferably something in the property market as i find this most interesting.

Also what books would u suggest reading? Here are a few which i have found people advised for so far:

• Australia's Money Secrets of the Rich.
  John R. Burley

• The one-minute millionaire
  Robert Allen and Mark Victor Hansen

• Think and grow rich
  Napoleon hill and W Clement Stone

• Making Money Made Simple by Noel Whittaker

• The Millionaire Mind by Thomas Stanley

• "Real Estate Mistakes"
  Neil Jenman

• "Money Secrets of the Rich: Learn the seven steps to financial freedom"
  John R. Burley and Bruce Whiting

• "How to become a Millionaire in your spare time"                                     Michael Yardney

• Real estate riches : how to become rich using your banker's money
  DeRoos, Dolf.

• Wealth Guardian by Steve McKnight

• From O to 260 Properties in 7 Years by Steve McKnight

• inc. and grow rich

• Richest man in babylon

what would be ur top picks for a starting investor and would u advise me to educate myself more before buying an IP or to get in asap before prices are to high??

Thankyou

Hey thanks for the recommended material… i have the may and june issue of API and also have the may issue of your property investment.

After some research i have narrowed my search down to south east of brisbane and bayside victoria… any objections??

i have noticed that the sea areas close to  brisbane such as ransome, thornside, wynnum and manly are undervauled… anyone agree with this and have some local knowledge of the area? this is also alot of talk about mt gravatt, chermside, tweed heads and springfield lakes??

my parents are over in victoria at the moment and are going to look at properties for me this week… ive narrowed my search to the bayside area such as armadale, oakleigh, moorabbin, bentleigh, carnegie, cheltenham, mentone, st kilda, ormond, highett, caulfield and aspendale as i believe these will have the most capital growth and if the right properties selected a positive cashflow

thankyou

Tayna Black Wrote:
Why do you want to invest?
Thinking about becoming a full time property investor… not to keen on the rat race

Tayna Black Wrote:
Are you investing for capital growth, cash flow or tax purposes?
(You can invest for a couple of those reasons and you will probably get the benefit of at least 2 of them in whatever strategy you use, but an investment plan works better, the more specific you are.)
Mainly capital growth and cashflow….. have been reading lately about putting the IP in a trust etc for the tax side of things and asset protection? Do u have any information about this?

Tayna Black Wrote:
Do you want access to the cash now, or are you able to allocate some towards a self managed super fund perhaps?
what is a self manage super fund and what are the benefits… something to do with reduced CGT?

Tayna Black Wrote:
How much time do you want to dedicate towards the maintenance and associated tasks of creating this portfolio?
as im thinking about investing interstate i would probably get a property manager but will have alot of time to go over and inspect properties etc

Tayna Black Wrote:
Do you have much time for learning?
all the time in the world…. currently reading steves second book and rich dad poor dad. could u recommend some good books?

In response to blogs money follows management…. after i find the property my parents will lend the money to me so the amount borrowed is not an issue just the repayments