Excellent post Steve,

I don’t agree with everything in your book but I agree 100% that the opportunites are out there. I’ve found several in the last few weeks which more than meet the 11 second rule.

Unfortunately most of the knockers here are focussing on the 11 sec rule and trying to apply it in their own backyard (suburban Melbourne or…[Read more]

quote:A crash can never happen again

Never say never!

Rod

This may vary from State to State, but you can probably get your solicitor to request that the deposit funds be released. This will be done through the buyers solicitor and the buyer is not obliged to agree.

Rod.

I agree with Simon, I’ve used Deppro for a couple of IPs which are greater than 12 years old and was very pleased with the result.

Rod.

I agree with the blonde (Sue that is).

There’s no reason you should have to touch that $50K provided you meet all of the lenders other criteria (deposit, serviceablity etc.)

Rod.

Hi there,

No way, they shouldn’t be charging you a finders fee for an existing tenant. Also as you’ve purchased through them you may well be able to negotiate a discount on the management fee.

Rod.

Hey Arty,

Your work sounds just like mine.

Hang on, so does your home – maybe we’re twins[?]

Rod.[8D]

Bandit,

It certainly can be done, but I don’t think you’ll find them in Brisbane (or any of the capital cities) unless you can get very creative.

Rod.

Hi Pinky,

You’re going to hate this answer but “It Depends”.

Really you need to balance out what your aims are at this point in your investing life. If it fits your aims and you’re confident of the growth potential and willing to fund any losses (though with various deductions these may be ver small) then go for it. If it doesn’t fit your…[Read more]

Hi Bob,

I didn’t actually add a new posting, I just edited an old one to get rid of the email address and I think this bumped this topic back to the top again.

I had a great trip – spoke to lots of people and learnt heaps. There’s only so much you can learn via a computer screen. You get a much better feel for any place by meeting locals and…[Read more]

Battz,

Great job, very inspiring.

Arty, they are out there. But they’re certainly harder to find and you may have to go further afield. I’ve got offers in on a couple at the moment (no, I’m not going to tell you where [])

Rod.

I wouldn’t have thought being rentals and an offshore investor would preclude you from having a LOC. You might be able to get a split loan – part P&I part LOC.

Some of the banks in NZ will pay some of your legal fees as well, I don’t know if this applies in your case, Mini, as you already own the IPs but it’s worth asking the broker about.

Rod.

The amount of tax payable on the income will depend on how the trust’s income is distributed. Also doing this will mean you lose the PPOR CGT exemption.

Rod.

Mini,

You’re a legend []

Rod.

Mmmm…. Pinky,

What sort of movies have you been watching[?]

Rod.[8D]

Hi Marybeth,

This has been discussed here a few times, If you do a search on the forum you should be able to find some answers.

Generally though it would be better to purchase +ve properties in a trust structure. If you purchase in a company you’ll be up for the company tax rate on all income.

Rod.

I seem to remember a similar “outcry” about this time last year about FHOG being used for million dollar properties. I think this must be when the latest figures are released.

Funny how the stamp duty hasn’t been really mentioned since the state election campaign, the politicians have no incentive to reduce it. They like the revenue too…[Read more]

Hi Casey,

Probably best to put together a plan to pay out the current debts as quickly as possible. The interest you’re paying on these isn’t tax deductible and the repayments will be affecting your serviceability for other loans.

While you’re paying these debts off take the opportunity to do as much research as possible (this site is a good…[Read more]

Hi RT,

This is really a question you need to discuss with your accountant. There’s also a few good books on the subject and many posts on this site (do a search).

Anyway,

Trusts are a structure whereby assets are owned and controlled by one party (the trustee) for the benefit of another party or parties (the beneficiaries). This means that the…[Read more]

Hi Daisii,

What structure you should use depends on many factors, if you’re only planning a few properties then it’s probably not worthwhile. If on the other hand you’re looking at emulating Steve and Dave then you really should try to start out with the right structure.

This topic has been covered several times here on the forum. You should be…[Read more]