Forum Replies Created
I think one of the NZ sites had a great PDA IP download for free..maybe Westan knows or search Richmastery or such?
REDWING
“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 MichaelYardney:Quote::I know Ed well and discussed this trust with him in detail last week.
Can you give any details Michael?It’s particularly useful for NSW property owners.
?He has written an article about trusts which will be published in the November issue of my e-magazine coming out in a week or so.
Look forward to it, I enjoy your newsletterThose who don’t get it regularly can subscribe at http://www.metropole.com.au
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
Join over 10,000 readers each month.
FREE subscription http://www.metropole.com.au“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorHi J..
Do you have a Mobile Phone/PDA?
Which type?
I’ve looked at the HP’s and BENQ have a new one coming out soon..
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorHi RichTeddy
I always get valuations done by three local REA’s as well (on all properties), prior to even looking at obtaining finance..this gives me ‘ball park’ figures
I have absolutely no loyalty to ‘any’ bank, they seem to be happy with this arrangement.
I always use a Mortgage Broker as I dont want to be limited to one Bank and i’m sure you can find a good broker by asking or veiwing the forums here.
Arguing with the bank might yeild a result but I wouldn’t count on it.
How are comparable prices in general in the area of your PPoR, what is the market doing..how about were IP#6 is?
How is your LVR and DSR, should the Bank consider you a ‘good risk’?
No is not an answer from the banks..its just an opinion (from one bank- remember there are a few hundered more out there, then there are other ways to get finance)
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorKP
I think they want you to be a client before they give more details on the structure though, is this correct?
I enjoyed the book and checked out the web-site, however, details on the structure were scarce..
REDWING
“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 wilandel:Or are you referring to the TV audience people that he mentored?
Regards,
DelWhat happened there Del?
REDWING
“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 ozi:Hi Redwing,
The link you posted doesn’t work. Try http://www.navra.com.au/
Anyone know if he’ll be touring Melbourne anytime soon? I would be interested attending his course.
Regards,
OziThanks Ozi..
Dunno what happened there?
REDWING
“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:I would agree with Terry. About $150K is a minimum for establishing a SMSF.
We have closed a number of SMSF for clients with under $50K as the establishment costs (around $1,200-$1,500) ongoing accounting costs (around $1,200 – $1,500 per annum), annual audit costs (around $500 – $600) for the majority of people is more than the ongoing fees you will pay to a professional fund manager.
Most people who ahve SMSF’s with levels below $150K are usually, not always but usually, unable to devote the time and effort to share trading which is really the only investment you could make with these levels of funds. Over $150K will allow you to look at commercial property and provided the structure is such that the trust is not deemed to be a part 8 associate, then residential property.
I’ll be luck to have $150k in my “Not so Super Fund” [grrr]by the time I’m 65 [blink]
Lucky I’ve got a few Properties..
I’ve heard of people using under $30k as well, however as CoastyMike said establishing, running and audit costs eat into your monies..on the other hand your not paying money to fund managers who find it hard to keep up with market averages.
Lastly, I believe the Government is tightening up the rules here yet again due to the “Huge” SMSF market?
REDWING
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorAnd with[xmas]coming I would definetly look at <sshhhh secret spot> [satan]
REDWING[biggrin]
“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 Dazzling:Redwing, not sure if I understand what you are getting at…but anyway…
The wife and I renovated a 3×1 house back in ’97, only our 2nd IP. 6 weeks of back breaking work, with lots of tiring 10 to 12 hours days on your feet and sweating your things off, trying not to harm the two toddlers around your ankles with nails and exposed boards and holes and lots of poisonous paints etc. Next door neighbours used to lean over the fence and joke that they could never do what we were doing.
Came up looking fantastic – but then – who cares ??
After crunching some numbers, we found if we paid ourselves $ 20 / hr the entire exercise cost us money. Knocking that back to only $ 13 / hr meant that we went nowhere.
Lovely residential tenants were signed up and proceeded to trash it – just for a change.
We decided to sell…headaches weren’t worth it. Next door neighbours tricked us with a “nominee” offer to buy and got it for a song. Drove past the other day and it’s back to an overgrown hovel.
We learnt alot of lessons with that house, the most important of which we stick to religiously…don’t buy houses…or anything else where people have a tendency to live.
Sorry Dazzling..
I’m trying to work out the tax implications of paying yourself a wage when working on your IP’s..pro’s, con’s etc an extra wage means additional income onto your yearly wages, I’m sure that adds in some way to serviceability as with buying an IP doing a reno job and selling it..you realise a profit and this boosts your income for the year?
How about paying your partner to do the books for your IP’s if she is not working..at the end of the day, is it worth it.
If i’m going off tangent..tell me, I may have to speak to an accountant [blink]..or a shrink?
“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 Dr.X:would this make any sense, since what you can claim by paying yourself, you get taxed on by declaring income?????
We buy properties in Adelaide. Immediate Cash Settlements, No Agent Fees.
[email protected]
phone 0412 437 582Hi DrX..how do you do Property Investing full time and not draw a wage.. aren’t you worried about the ATO or do you organise your investing in some other manner?
REDWING
“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 Imperator:Hi there
We have great reading material on Self Managed Super funds and it is well worth the read and you can also pick up a free booklet from the ATO which will give you some guidelines on SMSF’s and what they recon is the benchmark in funds before it is worthwhile.
cheers
http://www.imperator.com.au Imperator Financial is Australia’s most comprehensive consumer financial information and financial planner referral service. We also have a number of other resources including SMSF’s http://www.imperator.com.au/superannuation/smsf.asp info, Legal Will, Power of Attorney, Grant of Probate and Prenuptial Agreement Kits http://www.imperator.com.au/legalkits.asp , Finance Forum http://www.imperator.com.au/finance_forum/ and more.
Thanks Imperator..
What do you think is the least someone contemplating establishing a SMSF should havein their fund?
Any thoughts on best strategies currently being employed in the Market Place?
You may generate some interest here..
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorThe best spot I’ve found is <edited due to sensitivity of information> this area will undoubtebly show more great CG in the near future and has a lot of infrastructure planned, as a bonus yields are pretty good [winking]
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorSimon,
If you do a search on Dazzlings posts you’ll see some deals he posted a while back that we’re pretty good..WAY above $220k though..
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorHow about “Timing, Location and Finance” as being 3 pieces of gold..getting them right could prove to be ‘worth their weight’?
REDWING
“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 resiwealth:So many negative people!!! boy get a life.
It takes one person to lead an army – Anthony Robbins comands audiences of thousands – if you r not prepared to spend a MEASILY few thousand bucks then what are u doing here.
The bloke has purchased over 100 properties and a couple of grand is the cost of a small picket fence … miserable sods.
resiwealth[baaa]
I prefer to think of myself as a t*ghtass more so than a miserable sod resi [biggrin]
A couple of grand for a small picket fence doesn’t worry you?? now i know i am a t*ghtass,[blink] next thing you’ll be telling me i need more than 2 shirts in my wardrobe and my shoes need to be replaced more often than every 4 years [biggrin]
Speaking of positive posts..I wish some of the RESULTS members would post some positive posts here telling us about their acquisitions or deals on the boil as a result of their membership..is anyone up there?? [withstupid](sorry..only arrow i could find pointing up..)
“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 Dazzling:Hi avranjes,
You haven’t mentioned why you are looking around the Armadale region, but I reckon for 200K you might be able to pick up one of those little 1 bed units in Mount Street right smack bang in the middle of Perth.
If it’s the one’s I’m thinking of aren’t they a type of managed investment?I mention it only in passing and have no clue as to them as an investment.
If you are a “I want some land” type of investor, obviously this ain’t much chop.
I reckon if you looked hard though, you’d be able to pick something up that would get you $ 320 or $ 340 per week after all property expenses.
$ 150 p.w. return is a pretty low bar you’ve set yourself, IMO.
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorJust bought..will do so again when possible
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorSlab costs about $25-28 for light and $50 for Corona’s or a slightly more expensive beer in WA..
I use liquorland as the slabs are always near the shop front and handy..
:0)
“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 Qlds007:KP i am off to Singapore this afternoon but always happy to lash out and buy you a coffee if your in town.
Feel free to give me a call after the weekend or shoot me an email an i can respond whereever i am.
Cheers Richard
Ph: 07 3720 1888
[email protected]
http://www.yourstatefinance.comSpecialising in US & IP finance.
Sentosa Island is nice if its for R&R ;o)
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculator
