Forum Replies Created
Margarets Team are Tier 2 “Financial Planners” from memory (Property)
I’ve only heard good things about the team at Willeton and Joondalup..
I visted the Team at Joondalup and they couldn’t help me re: my Loan structure as it was what they would advise if asked..
They seem to have distanced themselves from sourcing property for clients..
The guy from Jondalup remembered me from two years ago at the latest property convention and is a genuine guy and someone I would deal with if required..though not up to speed on Trusts and alternative strategies IMHO
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorOriginally posted by coastymike:(the accountant was trying show to my client that I didn’t know what I was talking about and move over to them).
[biggrin]
Hey Coastymike..I’ll back you if someone wants to say you dont know what you’re talking about..I’m of the opposite opinion..[wink2]
Redwing
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorI thought Anita just has a normal DT ??
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorLike the Aussie Lady in the US recently who got done for assault in the movies telling a woman to “SHHHHHHHHH” because she was on her mobile phone..
There’s probably a few more scary stories like this in ..even in Australia recently if you looked..
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorOriginally posted by Investor1313:Wow 15 p.a growth!?! Must be located in Western Australia!
Note that units have lower land components, and as a rule increase at much slower rates than conventional properties.
Good stuff anyway…you have to be in it, to win it!
Regards
Investor1313I Dont think it’s in WA Steve [trigger]
Great work Peter
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorIMHO You neeed to go in with your best price or walk away price..run through all the conditions and costings as posted by the guys above and give it your best shot..
You should be able to settle in 14 days (we use settlement agents here in WA- and you need a switched on one)
Low balling when she has had her hopes built up by the agents is probably a bad idea..she is now probably looking for the higher prices (even if they dont eventuate she may try..you need to put yourself back in the running by showing lower sale price but “saving money in fee’s” and “quick settlement”)
Martin AYLES once commented about his fair price theory..worth considering
If you cant get it for your MAX price to make it all work (maybe work this out by forward planning andworking back) then….you may have to deal with the agents
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorCoastymike..can you not also construct it so that the Trust also ‘owes’ money to other creditors (whoever they may be) and that the structure is set up in such a way that the action is futile..i.e some kind of creative debt construction within the strategy?
Not that anyone intends getting sued..and there are ‘many’ other benefits to using trusts..
<deleted..>
PS- why do accountants call thier newsletters “practice” newsletters (from a few I’ve recently seen)?
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorThanks Stuart..
Amazes me how some people move forward [biggrin]
And there is obviously a lesson there..
That i can hopefully apply..
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorNickM at Strategic Wealth Management also has some good info re Trusts as does Chris Batten..
The more you read (and Post), the better informed you will be about what suits your personal situation..
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorI’m just surprised people use rent to buy rather than the various loans structures out there..such as lo-doc, no-doc etc if they are having problems with regular finance?
I’ve even hear of people using finance from Churchs and Solicitors though andthink you need to explore all options and take the best course of action foryour personal situation..
I’m more interested on what your opinion of Rent to Buy Programs are Dr X ?
(genuinely interested as well…NO agenda here)
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorYoung Investor have you considered you byline to read APPLIED Knowledge is POWER?
knowledge by itself is not much good..take a look at many Uni Academics who Teach Finance (insert other examples here…….)
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculatorand REA’s are just not as good as REAL’s..
;o)
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorI should’ve added “Get a Mortgage Broker thats familiar with Trusts as well”..this acts as a double checking mechanism
IMO Many accountants and M / Brokers aren’t up to speed on the various Trusts and thier applications
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorIf you know what you’re doing Terry (and you sound VERY Much like you do) it may be OK..but for a novice i’d suggest some caution when getting an on-line trust (I’ve heard of people not getting what they wish when it comes to trusts..) IMHO I wouldn’t use one(but thats just me)
all great until the end of the FY.
Scary Trust stories welcomed here ……………>
[biggrin]
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculatoras CATA Said ;o)
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorDon’t be surprised if your accountant doesn’t know..I talked to an accountant in WA that represents a well known investor/developer here and the response re HDT’s notbeing used was “Oh, no one uses them anymore”
Further talk revealed he didn’t know about them and he became interested as we discussed them..
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorOriginally posted by carlin:Hi there,
We have three properties – PPOR (with about $300,000 equity), an investment unit and an investment house.
Both investment properties have interest only loans. The unit’s in my name (cos I plan to go part-time, and we’ll probably sell it so want to avoid too much CGT) and the house is in hubby’s name (higher income, negatively geared).
We’re both on good incomes and can afford to invest further, but before we buy anything else we thought we should do what alot of investors on this site seem to do, and set up a discretionary trust.
However our accountant says no way because trusts can’t carry losses.
Better “double” check this is what the accountant said IMO ??I understand this, but what if a property becomes positive after only a couple of years. If it’s in the higher income earner’s name (ie: hubby) then he’s getting taxed at the highest rate.
Do all people who set up trusts only do so because they’re buying property that’s positively geared from the start.
There a few different types of trustsAnd do they only do so when they have family members (on low or no incomes) that they can siphon the income to and avoid tax?
Tax avoidance is illegal…We don’t have kids and sending income to my old folks could affect their pension, so I’m not sure who we’d be sending the income to.
I’m confused!
Read a few books on Trusts such as Ed Chan’s, Ed Burtons and Dale GatherumGoss’s booksthanks in anticipation of someone being able to help,
CarlinMaybe e-mail your accountant and ask them what they mean (get it in writing)
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculatorhttp://www.excelaustralia.com.au isn’t bad either..
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorOriginally posted by Terryw:Sorry Redwing, I think I misread your post. You want to pay the interest in advance on a loan by drawing the money for this from a LOC.
I was thinking LOC would be best..I have heard of people borrowing the costs of the IP “plus” the first years Interest and pre-paying it..if you cannot claim interest on interest what is the benefit?A few years ago, you needed to get a discount to be able to claim the interest in advance. The rules have been tightened since then, but it is still possible.
That’s what I’ve been led to believe as well..hence the Commercial Conideration, not sure if this is still correct though..maybe one of the accountants can advise?With rates, insurance etc. I think you can just bring these forward and pay them without problems.
I’ve been doing this for years but was told that I needed the C/C or ATO wouldn’t be happY ??Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with “subscribe†in subject line.Thanks Terry
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorOriginally posted by GeoffBeck:Mine are:
The API (Australian Property Investor) magazine is a great source of facts and figures, plus it doesn’t cost that much. There are a couple of web site I also use, however most charge an arm and a leg to get the stats. One other techniques is keeping abreast with media releases which also builds up the knowledge.So, what are your techniques to gaining this knowledge?
Cheers
GeoffBSome web sites as well..WHICH ones are you using??
redwing
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculator
