Forum Replies Created
- Originally posted by gctaeger:
I recommend you get Dale Gatherum-Goss’ book called Tax Magic – it’s about $99 but explains Trust in such a simple & easy way.
Hope this helps
Regards
Claude
Trust Magic is the book from Dale Gatherumgoss, Tax Battles is the other publication.
you can get it direct from Dale or take a look at the back of API.
Dales Wealth Sabotage is also worth a peek
Ed Burtons book “Bulletproof asset protection ” is also a great read (speak to Cata)
“How to legally reduce your tax” is also worth the read IMHO
Rentons book on Trusts is worth looking at but very “dry”
“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 jhopper:Hi Mal,
That technique also applies to painting brickwork! Both bricks and cement sheeting are thirsty and I believe the wetting before painting reduces the amount of pain was that a Freudian slip?you require, as well as getting rid of any dust from the surface. Not sure about applying a thin coat after wetting but do know it is a common practice!
Jan
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorGreat to see you here Yack..though I think you belong on the other forum..
I’ve been lokking at the future and thinking about the LOE retirement scenarios though IMHO there’s too many variables in the future to have a fixed date for retirement, I’ll only probably ever semi-retire anyhow and will most likely be one of those people that suddenly realise how far we’ve got.
10 years from now and assuming property doubles in value and without doing anything my portfolio should be worth $2,001,000.00 or so with the current Loans of $640k giving equity of $1,361,00.00 and a LVR of 32% (a nice thought) and would most likely be creating some reasonable cash flow. If I added to this, these figures which are variable anyhow could be greatly affected…
Nice to think I made $90k in the last five months without effort..however, we still live on a budget tighter than most friends..things are tight now but the future looks good
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorNO- Sounds great though
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorIMHO
I prefer to use a Broker for my loans..but then again I dont have Dazzlings earning capacity ;o)
I’m with two Banks at the moment and will soon be with three..NO Xing either..
Check out Ed’s report at http://www.loansapproved.com.au for a great report
“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 bennido:I was flipping through a Margaret Lomas book and she says that trusts are a waste of time and do not really offer any protection.
What do you guys think of her statements ?
Agree..what book-page etc..?
PS- There’s more to Trusts than Just Asset Protection [wink2]
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorGreat Post Claude..
PS- RAMS seem OK with HDT as well..Speaking to St G at the moment..is it just me or are they “painfull”..??
“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 Anitamarshall:I would recommend checking with your accountant as to what he feels is best for your situation with that question.
Anita Marshall
Advanced Finance Solutions
http://www.advancedfinance.com.au
[email protected]AND I would recommend finding a good accountant..many dont know squat about stuff some of the Great Forum members here take as general knowledge
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorHey Gross , Ausprop and Michael how did you go with Jaffasofts Calculator???
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorMarket Price is pretty high at the moment..What price are you paying and what is the intention with the property?
As an area though I’ve always liked Bassendean, nice and close to the river as well as the city and Tonkin Hwy, airport etc
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorI received a copy of Martins Book and can honestly say I enjoyed the read..he’s apretty switched on guy but also down to earth
Would love to spend some time learning more from/about him..
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorIMHO..If renting to family, Boyfriend etc..get the paperwork right and save drama’s later
If decide to live together you can always rent the property from a structure you control..but thats a whole new and interesting subject
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorYou’re right..Julie from BANTACS used to be a regular, thier site is great
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorI’ve had a Play with it Jaffasoft, but haven’t had a chance to enter a complete transaction..
Ausprop, Michael Yardney and Gross Realisation..being the resident Developers should be able to iron out any wrinkles for you..
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorMinus the time you had it as a PPoR
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorI get “page cannot be found” ?
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorHere’s some questions for you before we can better answer..
What is your LVR?
What is your DSR?
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorIn this WA Market?
get a few appraisals and sell it yourself if possible..
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorYou’ve probably increased the interest of a dozen investors for that area by posting though [wink]
I wouldn’t be asking unknown people where you should buy, there are a myriad of ways that you can conduct your due dilligence on these towns via the web-phone calls- and your library..IMHO try and learn as much as possible about the area and its prospects..
Then evaluate the deal as well, then factor in the what ifs..
Just some thoughts anyhow..
Redwing
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorI’m enjoying the Kickstart Series from Steve and have found much of the information interesting and worthwhile but not neccessarily relevant to my current strategy…had me wondering- what is everyone else’s “Current Strategy”?
I now acquire my properties through a Trust Structure and have paid nothing down for the last IP and $3k for the previous one, my intent is now to not only pay nothing down but also to pay nothing out of my own pocket for the interest on the loans…..
Plus, I’m going to reduce my tax paid severely (I should get nearly All of it back this year) I guess I’ll make up for this with the Stamp Duty I’ll pay on the next IP and the unavoidable myriad of taxes such as GST etc…
My goals for the year are being met and exceeded…I also realise my strategy will have to adjust to the market
Redwing
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculator
