Forum Replies Created
You obviously consider your own product as ‘nothing’. How about the services provided? Aussies working overseas are also considered exports. There are also farmers products, aquaculture, processing of commodities, finished building materials, etc… None of these are commodities.
Open your other eye!
Robert Bou-Hamdan
Mortgage AdviserSorry about the company title comment.
4 units on 1 title has never been a ‘vanilla’ deal. The majority of lenders won’t touch these as residential but will consider them as commercial. 3 units and below is the safe benchmark.
The reason behind this is that the demand is lower for 4 on 1 title and they are sometimes very difficult to get comparable sales for purposes of valuation. Changing the title on these costs nothing compared to the increased value that usually comes with a conversion to strata title.
Robert Bou-Hamdan
Mortgage AdviserTom,
It is lovely to see you so concerned with your family in the event of your death.
Of coure there is no benefit in having life insurance if you have no family at all. The government gets it.
Robert Bou-Hamdan
Mortgage AdviserMaybe they heard that you were looking around out that way and that you were single-handedly going to bring prices down for them so they are waiting for you. After all, their are a lot of first home buyers looking to buy a house on the Northern Beaches!!! (Please note my sarcasm!)
Robert Bou-Hamdan
Mortgage AdviserMy point was that the FIRB exists to prevent the sale of all our real estate to other countries.
Your definition of a productive enterprise is also flawed. There are many productive enterprises who are not-for-profit providing a ‘non-tradable’ good or service.
Robert Bou-Hamdan
Mortgage Adviserdmichie, the more you post, the more I want to see our dollar go through the roof to destroy the export markets.
Get over it!!!
Robert Bou-Hamdan
Mortgage AdviserCongratulations.
Your obvious enthusiasm and excitement is a much needed breath of fresh air!
Robert Bou-Hamdan
Mortgage AdviserLike I said, I am familiar with the case. ‘Unjust Enrichment is a totally different beast to enforceability of ‘time is of the essence’ clauses. The case you mentioned addressed an issue involving ongoing dealings (amongst various other things). This is also very different to a single dealing.
Robert Bou-Hamdan
Mortgage AdviserWe are just not interested in shonky deals. If the information is not on a website, I will not be contacting you privately to get it.
Robert Bou-Hamdan
Mortgage AdviserOriginally posted by dmichie:We can’t sell our overpriced houses to the rest of the world.
Actually, a huge number of new properties and specialised properties (the most expensive ones) are sold each year to overseas investors.
Established homes are not sold to overseas investors NOT due to a lack of demand but due to a Government department known as the Foreign Investment Review Board. They do not allow established homes be sold to overseas investors.
Robert Bou-Hamdan
Mortgage AdviserThe lenders who request this prior to settlement are basically saying they will not do company title. I don’t see the point in such a request. The borrowers can go elsewhere.
By the way, seeing we are divulging all information so people can go direct and not use brokers, St George will do four on one title. It is very common for them subject to normal lending requirements (ie: serviceability, funds position, etc). They will even do it as a low doc at lower LVRs.
Robert Bou-Hamdan
Mortgage AdviserThere is absolutely nothing wrong with gearing if it is done well. Regarding the nurse example, I am wondering where she lived while saving and where did you live?
Some people forego saving to live in their dream home or at least something that is their own. There is more to life than the amount of cash being held or profit made.
The way some people talk about the importance of saving, no-one would ever go on a holiday because it is ‘wasted’ money. What is the point of saving when you don’t own anything and don’t have any fun?
Robert Bou-Hamdan
Mortgage AdviserMy life insurance is deductible. The beneficiary is my company which holds my assets and the company pays for it.
I believe it is invaluable if set correctly. My level of insurance is set (and changes accordingly) to cover all my debts, so my estate receives all the assets debt free, plus an amount that can be invested to receive additional income.
It is a very individual thing but I believe the minimum life insurance should at least cover all debts.
Robert Bou-Hamdan
Mortgage AdviserI think you are missing the point. Your company is ‘legally’ a seperate entity but it is still ‘you’ that runs it. I would assume their concerns lie with ‘you’. Have you tried changing the director and re-applying?
Regarding banks selling their properties, I believe they are doing this because they make more money and obtain greater deductions by leasing their offices. It also provides them with a lot more flexibility regarding restructuring (ie: branch closures and new branches, etc). After all, they are not in the property management business should they close a lot of branches.
Robert Bou-Hamdan
Mortgage AdviserWhat was your reason for no income?
Robert Bou-Hamdan
Mortgage AdviserI think it may be an email problem at my end. I have been doing a load of work on a new website and my old website over the last few weeks. My email addresses are all redirections from a hosting company. I have had to change these a few times in the last few weeks and probably lost some emails (not sure). A good way to know if someone receives your email is to send a ‘read request’ with each email. Another way is to ask them (privately).
Robert Bou-Hamdan
Mortgage AdviserI notice the lack of accountants commenting in this structure question in the public arena. Do you think it is because there is so much ‘doubt’ or ‘uncertainty’ regarding its legality?
Robert Bou-Hamdan
Mortgage AdviserI have looked at some of the club properties and found them to be in all the usual ‘spruiker’ taunts.
This comment from Derek is also a bit misleading: “The Investors Club doesn’t mark up prices”.
No ‘real estate agent’ selling off-the-plan or new properties marks up prices. They just get a chunky commission on the sale of the property.
Robert Bou-Hamdan
Mortgage AdviserMichael, I just read that you give away 2 free spots and 2 half price. How many people actually attend the $3,500 per head workshop or were you referring to the $55 seminar with 1,200 people? Surely you could run a totally FREE workshop one weekend a year for young investors.
I agree with your comment about learning something at every seminar, course, discussion attended but I have stopped going to seminars as it seems to be the same old stuff recycled in different ways. $3,500 is a bit steep in my opinion for information that is available for free.
My comments are not intended to offend as I read parts of your Newsletter and consider it very informative and a good ‘summary’. I have yet to read a new concept or strategy in it though.
Robert Bou-Hamdan
Mortgage Adviserdmichie, are you going to start following me around in an attempt to pick some sort of fight?
I am not going to jump on you. Your views are limited and mean nothing to me. Obviously I mean a lot to you as it seems important for you to have my attention.
This thread is all yours. I am not interested in your biased economic propoganda.
Robert Bou-Hamdan
Mortgage Adviser
