Forum Replies Created
Why not leave it,
and book the service for May, then put in your tax return after financial year, two weeks later ( [
] )*hopefully* get $ back..Why do asap..?? when you can’t claim untill end of financial year
Curious
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
some good responses[^]
I’d say the biggest step is ‘not’ wasting the money invested in the seminar.. make use of the Info and take the first step, spend time on this site and ‘ask questions’!
on another tangent, is investing in rural properties a ‘momentum’ strategy of investing.. i.e purchase a property for $70k,(min deposit and costs put in by you ) rented at $140 p/wk, the tenant signs up for 6mths, in the next few months ( before the six is up ) purchase another property ( assuming the same ) then another, and another..etc as your figures look good and the bank is happy to loan to you
suddenly thefirst property and the third have the tenants move out, it takes you a while to source new tenants, however due to the fact you have several properties, cash flow positive, these can cover the untenanted properties..
If you did not use the momentum strategy and just bought 1 or 3 properties, you would be finding it hard as your properties would be costing you..
[}
][}]devils advocate.. real estate agents and rural property owners are aware of + gearing investors so advertise their properties in a decling area as cash flow positive, build in a years rent onto sale of property,state they will sign on for a years lease and advertise a cash flow positive investment for those who don’t conduct ‘due dilligence’[
]REDWINGMoney is currency, like electricity, it has to have momentum to be benefical
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
MarkE
before you sell.. consider ( reasearch ) the costs of doing so, you don’t want to ‘lose’ on the purchase and also ‘lose’ on the sale, so weigh the options.
with Negative gearing, depending on your tax bracket, you effectively get that portion back ( for me 30c back for every $1 i spend ) however , what you are aiming ( hoping [
])for is the capital growth of the property will cover the lost 70c, rents will also rise also, and maybe one day you’ll have a + geared property still achieving growth..a friend i knew many years ago was advised ( ? ) to ‘sell’ his negatively geared property as he was now getting no tax benefits from it ( Now ‘making’ him money ).. and he did so [8].. advisers give you advice from thier perspective, or interests only, the decision is yours
REDWING
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
my 2c
Shares have an advantage in that in an emergency you can sell a ‘parcel’ ( portion ) of the stocks that you hold to raise cash, however if all your investment cash is weighted in a property portfolio it’s hard to sell a portion of your house.. i.e family emergency so you try to sell only the toilet to raise the cash [
]In my experience shares are violatile and need to be regularly monitored, the market sentiment can rapidly raise or lower the value of your investment, this can also be true in the property sector albiet much slower.
as the old Axiom states “Don’t put all your eggs in one basket” , everything has it’s pro’s and con’s, it depends on your personal situation and goals..
REDWING
Remember, money is currency,just like electricity, it has to keep moving to be effectivetry leaving your money in the bank !!“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
Weigh up the pro’s and con’s i guess……. if you do go ahead, how will it affect you financially, if you don’t ?
NO RISK – NO REWARD, but lessen the risk i guess by investing in suitable areas..
And what returnwould you get from putting it in the bank or another investment vehicle ???
REDWING[
]“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
It’d be Great to ‘build’ a WA database of information on properties and towns…[^]
ABS a lot of ‘searching’ to find what you want..
REIWA has some good info on PERTH suburbs but nothing Rural
REDWING ( Noted in the paper my last purchase, the suburbs up 40% in 12 months..*YAY* ) on paper anyway[
]“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
WHAT I HAVE LEARNT FROM THE FORUM..Update
1/ If it sounds to good to be true, it probably is.
2/ Risk + Effort = Reward
3/ Make a Plan and stick to it.
4/ It’s amazing what you don’t know, be open to new ideas and others views
5/ Do your “due diligence” ; research and evaluate the potential of your deals, assess the pro’s and con’s and make an ‘informed’ decision. One thing this site has taught me is “Researching your purchases is paramount”.. it’s no good buying a + Geared property in a one horse town if the horse then leaves
6/ My maths teacher was right, it ‘does’ come in handy.
7/ Protect your asset’s ( Trust’s, insurance )
8/ The earlier you start, the better ( Look at Still In School )
9/ You make your money on the purchase, not the sale !
10/ Remember – The main aim of property investing is to find and acquire properties that have the ability to generate long term capital growth ‘and’ consistent rental demand and income, you should always be on the lookout for properties at a discount to their real value…
11/ Aim to create a ‘Passive Income’.
12/ Build your asset base
13/ Buy well located property, Value add and manage well.
14/ Be Pro-active – not Re-active.
15/ Land Appreciates, Buildings Depreciate
16/ People choose to live in an area for its:
*Proximity to Schools
*Security
*Public Transport
*Proximity to Shops
*Availability of Employment
*Recreational facilities17/ Get A depreciation schedule conducted by a QS
18/ Take out Landlords Insurance and have a contingency ( Emergency fund )
19/ Be ‘Prepared’ to take advantage of deals when they appear, he who hesitates is lost !
20/ Assets + Time = Wealth
21/ Ask Questions and seek knowledge, others are prepared to share it.
22/ Scepticism is Good Cynicism is not.
23/ NO RISK = NO REWARD
24/ Build a TEAM
25/ The Best deals are not always on the internet- get out there..
Anything to add people ? how about on the financial aspects ??[
]REDWING
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
] )*hopefully* get $ back..
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]REDWING
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