using a LOC is what i did. the tax breaks are pretty good, but as steve says in his book. know what your entry and exit fees are. I didnt look into this and came as quite a shock. Though after further investigation the entry/exit fees were good, but am paying way to much in interest rates which i hadnt calcualated on
For Melbear
am looking into…[Read more]

Damn, you had to go and burst my bubble didnt you?
there i was high up on the ladder and you had to go and kick it out from underneath me[]

Wow 306 hits on this subject and counting… didnt know i was so popular!
as for those of us in the know.
we have a business plan which involves:
a house of ill repute in some third world country
cold beer and nothing but jimmy barnes on a duke box,
and a free penicilin shot with every tenth beer sold!

So sorry for not checking the board on the weekend. went to the pub friday night to win some meat raffles (not a bloody t-bone in sight if you’re wondering) saturday off to the qbn show then to the pub for indian food and a few pints of newcastle ale, sunday spent with my girlfriend who is starting to wonder, if i dont have another lady on the…[Read more]

I did mention to my mate about no body corp fees set up yet. i also told him to get an independant evaluation done, and get several different property managers in there to get a rental apraisal done.
And i agree with you that they are exy. personally i wouldnt buy one.
as for neg geared pos cashflow. i search for the properties myself. i have…[Read more]

They were asking anything from 220k to 300k for properties, most were 2 and 3 bedroom townhouses.
heres their web page
http://www.wiseinvesting.com.au
enjoy
shaun

There is no way i’m betting against bill and axzzy. are you nuts 007, these two know what they’re talking about!.
good luck
shaun

huey,
I am only paying house insurance and landlords insurance, which includes rent cover etc for 306 a year. try this web page.
http://www.rentcover.com.au/
you can call them if you like, i found them very reasonable.
cheers
shaun

I too, am taking bill’s advice. I am still “wet behind the ears” so dont know which way the market will go. Went to a seminar last night for 2 and 3 bedroom units 10 – 15kms around brisbane CBD. He assured everyone in the room that prices wont go down (he was talking neg gearing of course).
made a pretty good argument in saying that not all…[Read more]

i’m not sure what this guy charges, i have only spoken to him on the phone several times with questions. he was happy to answer and always rang me back. spoke to him last week and i pumped him for information about redraw facility tax deductions etc knew what he was talking about.
anyway heres his phone number etc.
John Dellavedova
02 62488500
17…[Read more]

try this mob. i havent used them personally but they came highly recommended and i have met and chatted with them several times. once i had bought my first ip they said not to bother going through them as they charge around 600 dollars an hour. they are in sydney and they specialise in trusts and property. i wasnt worried about the price at the…[Read more]

email me
swalker@mak.net.au
and i can give you something similiar that i use.
will be off to a seminar tonight (wednesday)
but will check emails around 930pm and email it to you then.
shaun

I didnt think of it that way! yes i understand with what you are saying. I guess i still have a lot to learn. Steve mentions in his book (somewhere) that he walked away from deals because he wouldnt pay what they were asking, even though they were still good deals.
you have given me food for thought
thanks
shaun

Ah that makes sense. didnt know about the one year and one day ruling though. nice!
thanks
shaun

Please tell me if i’m wrong (a little confused)
with an IP, if you sell after 12 months doesnt that reduce how much capital gains you pay?

I reccomend you ring the real estate agents, they normally know of someone who does it.
well worth the money and effort required. I just had one done on my Ip for 440 dollars and they gave me a 30 year depreciation schedule.
shaun

Shirly,
I live in Canberra, and have been looking at the price’s of 2 beddy units in queanbeyan. for those who dont know, queanbeyan is considered a less than desirable area to live. I dont mind it here as long as you know which area’s to live in (i’m a 4 minute walk to the main street and pub)
but i digress.
2 beddy units are coming down in…[Read more]

I love that book. everytime i feel confused or not sure which way to go, i read that book. My copy has highlighted bits all through it and penned notes all over the place. Thinking about buying another copy, but as you know luckyphil, i wont pay more than a dollar for a tube of toothpaste so i may just have to hint for someone to buy me a copy…[Read more]

i wish i had known about this web site before i went off the richmastery academy. Although the academy mob taught me alot, ive come to realise there are many variations on way you buy an IP, not just the way they said (which sounded easy at the time)

yes i do see your point, the problem is you make your money when you buy, so although it does seem wrong to want the valuations low when we buy, at the end of the day we are all running a business and sometimes i guess thats just the way things must be.