Forum Replies Created
DrX..
I’m pretty much of the opinion..listen to everyone, absorb what is useful and discard the rest..
(useful to me that is)
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorHey WayneL2
I’ve been putting some people onto your site of late for houses for sale in Perth..Hope its all going well.
Regards
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorNazzy, maybe the title of the post Buy vs Rent threw everyone, it seems you ‘want’ to buy but want to make certain you get the best *Bang* for your buck so to speak and if thats the case;
then it comes down to buying the best poperty, in the best area that will get you the “best” return in the time frame you’ve decided…?
Now all you have to do is find it and crunch those numbers, research yada yada..(sounds like fun.)
$250k or $500k..guess you’ll have to ascertain which property will give you the best return for your initial outlay…….
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorI agree with most of what you say as well Nigel, in my case I trust the majority of Financial Advisors about as far as I could throw them..
As I expect would most people, thats why there has been the big *push* some years ago to clean up the Industry..
Most people nowadays prefer to check it out themselves before entering into anything, after all,as you say it’s “Your Money”.
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorHouses built before the 19th of July 1985 have no depreciation allowance on the building itself. You may be able to claim depreciation on the various fittings like carpets, curtains, electrical fittings, furniture and any improvements that have been made since 1985 of a capital upgrade type nature.
Houses built after the 19th of July 1985 may have depreciable fittings and plant just as older houses do but you can also claim a deduction on the building cost of the structure as well.
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorThe decision to rent or buy is a personal one.
Some people choose to rent because it gets them into an area they like, but cannot afford..renting is still cheaper on a day to day basis than buying the place, you also have the flexibility to move whenever you want, you may also rent as your job only has you in an area for a short-medium time frame.
Some people simply cant ‘save’ and get a good sized deposit together to buy..I always used to think of buying a house as “ForcedSavings” when things got tight.
Also Buying and selling costs are huge in realestate..I remember Jan somers saying she bought every time they moved and so ended up with a few IP’s over time (dont buy and sell..buy and buy).
Renting IMHO is better than buying “IF†you do something else (INVEST) with the money saved and you don’t mind moving, we buy our PPoR’s, but have still moved every 2 years for a few years now so I guess I’ll have to look at my own strategy..we look at the fact that rents increase but in most cases your loan will hopefully get less (even a IO Loan is still at yesterdays dollar value)
There are some rent vs buy calculators out there somewhere..
Crashy..can you expand on your comments, are you talking about renting through a Company or Trust?
What do you think?
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorI prefer PM’s in the area..
Just my preference though..as i find they ‘let’ the properties faster as well, trick as we all know is getting a good local PM (worth thier weight in $).
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorAnyone from the Forum looking at going?
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorSounds like a win-win for you developing the project..
In most cases I’ve seen people put a mobile home on the land, pay rent and power on the land and never ever own the land; if you strata it then I presume it would be a pain for someone to buy it out “lock stock n barrel†in the future..
Or you can go down the managed investment path and manage peoples sites/homes/caravans for them and put a caretaker (or yourself) in to manage it all..
Anyone think of anything else (I’ve never been involved but am looking at it from an outsiders point of view)
Sounds like fun..[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 SteveMcKnight:Hi,
Just a short note to say that in future, posts that denegrate Neil Jenman will be immediately removed.
Are you making that the same for everyone
on the Guru Watch or just Jenman Steve?What if it’s a warning about some low-life ripping off people..such as you see on ACA/6o min/TT or such?
This response is not as a result of a legal letter, it is simply a choice to avoid any sort of personal jibe about anyone.
Oh..ok, question answered..anyone!Thanks
REDWING
Regards,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorAre you buying the unit through the FHOG?
1 IP a year..? Become friendly with a Pro-Active and helpful Mortgage Broker, I’ve found you’ll soon run into a brick wall called serviceability and you’ll need a ‘leg-up’ getting over it ..
Deprecation Report..May-June sounds good..but busy, help your accountant and have everything filed correctly, reconcile everything and know what you are doing..they’ll be glad to help, if you’ve got a good one.
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 wezwaz:It’s the old story – not what you know, but who you know,
I always think its not what you know or who you know , but , what you know about who you know..[fear]
[exhappy]
REDWING“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorThere’s a Link to a free e-book from colm on this Forum if you do a search..
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorI believe that Steve uses (or used) a Family Trust set-up, TMA was happy with his company set up for his purposes, Some of the Asset protection specialists prefer Discretionary trusts and other Trust specialist recommend HDT’s..Unit Trusts I believe are usefull for Group Investing..
This is all what I’ve picked up though…………
“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 Mortgage Hunter:I use him as do many other investors!
Cheers,
Simon Macks
Residential and Commercial Finance Broker[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I agree..and can only recommend them from my dealings with Scott and the QS from depreciator in Perth
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorJust to stir the pot it’s not “WHAT†you earn it’s what you do with what you earn..
I know many people that earn “much†more than me and have “much’ less. (hmmmm apart from expensive clothes, car etc) reminds me of the song “we’re on the road to nowhereâ€.
From memory Jan Somers had a story about a forklift driver that owned about 20 houses, a painter that had half the REA’s rental roll..and so on.
Most Uni Lectureres have degrees for wallpaper and still there’s many who still struggle from paycheck to paycheck..then again it’s the same for some guys I know working up North doing scaffolding etc..
No good earning a big paycheck if you p*ss it up against the wall. I’ve worked with guys twice my age that ‘need’ to work as they have nothing to show for their time.. In most cases they don’t understand half the basics of what a lot of people on this forum do.. Listening to them is a good wake up call..
Again I reiterate its not what you earn but what you do with what you earn.. (though if you earn lots and know what to do with it it’s a BONUS)
[biggrin]REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculatorsoooo.. what happens if someone puts down a 10-20% deposit, has the contract subject to finance at the purchasers discretion (or similar wording), you get the deposit, then, they get rejected for finance (maybe just had a few too many late loan payments) and they pull out (providing you with a letter of finance refusal from a bank)..they still get their money back?
$1, $1,000 or $10,000 what does it matter then?
However, what about a situation where I offer you $1 deposit, slightly less than the selling price you want (much less if a distressed sale), 24-48 hrs to make a decision and 7-14 days settlement..NOT subject to finance..can be tempting?
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculator[biggrin][biggrin]Love it [biggrin][biggrin]
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorThey still dont have the one i’m interested in..then again its been so long maybe I’m only interested in it because I cant find it??
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorHi Ausprop..
Reminds me of a friend whose house was built..
first; the slab was poured in the wrong location (so had tobe ripped up)
second; slab was not correct, dynabolts were at a 50deg angle to get some bite into the concrete
third; metal frames not painted with that tar like substance to protect them when sitting on the concrete (eventually the lime/concrete will eat into the frame-he complained and next day walls were covering it so who knows if it got done)
fourth; they did as you said and *slapped* some concrete on thepad where it was out of whack
fifth; I remember on his housewarming the tiles falling of the kitchen walls..
PS- The property was up North of WA
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculator
