i went looking for the book in dymics here in canberra, cant find the bloody thing.
oh well i will keep looking! might have to buy it online, damn i will have to sort out my credit card first!
cheers
shaun

Lead, Follow or get out of the bloody way

go to the ato web page.
everytime i have a question thats where i start.
http://www.ato.gov.au
look for property investing claims
i am hesitant to ring the ato directly as i never get the same answer twice!
cheers
shaun

Lead, Follow or get out of the bloody way

try this mob, they are very good.
just give them a call and ask all the questions you wont. they dont mind

Home

cheers
shaun

Lead, Follow or get out of the bloody way

thanks crest,
i will speak to the owner tomorrow (friday) and find out exactly what he’s trying to do. paying for equipment is a bit dodgy. why he doesnt just sell me the building and lease it back to me, seems to make more sense. taking on all his debt for pittance isnt going to happen, especially for a 5% return. as i said earlier, i’m not…[Read more]

hi all, an update.
i rang the agent again, after speaking to the accountant to find out more details.
i got a copy of the compilation report (this shows costs and expenses) profit after expenses is around 120k.
as i will take on everything, the current owner owes 600 a week for the equipment. ok my profits gone down from 800 a week to 200.
at…[Read more]

thanks for that.
i dont want to mention the town for obvious reasons, however the population is above 50,000. for this area 120k is low for the shop.
the add doesnt give shop size however it is a takeaway shop in an area described as
“the store is situated in an area bounded by homebase, a major vehicle retailer and a number of high profile…[Read more]

an another update,
guys you’re going to love this.
i went into the RE agents office on friday to sign the new contracts and he’d changed alot of it to lower numbers.
he now reckons it will sell for 150 – 155k.
wow a 3k drop in 2 days,, impressive.
so i rewrote the contract as per email above and gave him seven weeks to sell.
i havent heard from…[Read more]

hi all, the latest update from the RE agent, ref my email that i sent him earlier.
his reply

Shaun,

Thank you for the reply and yes I did actually get your message and a new
agreement was at the counter yesterday afternoon.

In relation to the price I did supply the market evidence to support our
market estimate due to the current market…[Read more]

thanks for that leigh, i guess i meant to say that there are times when i am absolutely humbled by the people i get to talk to and be around.
as for going outside and doing something.
just went outside into the courtyard at work.
theres a gym where you can see through the windows about 10 feet away from me.
i sat down had a smoke (i know filthy…[Read more]

thanks all,
i will be putting it on the market for 162k as advertised price, and giving him 7 weeks to sell.
his stats that he showed me says units sell in around 34 days so that should give him plenty of time.
will let you know how i get on.
any other suggestions for viralk and myself?

shaun

Lead, Follow or get out of the bloody way

wow, you guys out do me,
i feel embarassed that i put my little car pushing story on here now [baaa]
oh well, i will try to do better next time
cheers
shaun

Lead, Follow or get out of the bloody way

hi viralk,
i’m doing the same thing, and heres a couple of things that i’ve done so far.
interviewed a couple of RE agents.
asked why it should sell for that price.
not go for the highest price, unless the RE agent can justify it with recent sales in that area and how long it was on the market.
living in queanbeyan, ive finally selected one agent.…[Read more]

yeah i agree its all doom and gloom, we’re all going to lose our shirts.
just thought it was worth a laugh thats all!
cheers
shaun

Lead, Follow or get out of the bloody way

yestereday (wednesday) i helped a complete stranger push start his car, in the main street of queanbeyan.
cars honking all around us etc. very funny at the time.
cheers
shaun

Lead, Follow or get out of the bloody way

i have just gone through the same questioning of my accountant and from what i understand is purchasing costs are added to the base cost ie
you bought for 100k
stamp duty legals (say) 26k
interest paid (say 10k
your cost base is now 136k
you sold for 200k so 200k – 136k= 64k
64k/2 = 32k
32k x 48 (your tax bracket)= 15360 you will pay in CGT. do…[Read more]

i cant answer for bunbury area, however how i went about it is.
asked questions, then more questions. asked friends and people on this forum for contacts.
sacked alot of accountant in the last couple of years until i found one i’m happy with.
same goes for solicitor and mortgage broker.
keep looking, but remember. most of these people come across…[Read more]

Tip,
never believe what the real estate agent tells you, always double check his/her information from a reliable source.

Lead, Follow or get out of the bloody way

mine was yesterday, the 29 july.
i like a tall red head with green eyes, and preferably a police woman! [blink]
cheers all
shaun

Lead, Follow or get out of the bloody way

not sure if you’re being sarcastic there acey [biggrin], but steve did explain how it worked at his seminar, yes it is basically buy low and sell high. at no stage did he say it was going to be easy.
as for ACTandy, i have to tell you, with the amount you eat, it doesnt suprise me that you got food poisoning.
cheers all
shaun

Lead, Follow or get…[Read more]

when steve explained the velocity of money, i really had one of those “a ha” moments. it finally all made sense to me. ive heard people talk about add valueing etc but thought it just meant upping the rent. brad sugars say’s if you cant pay cash for your toys then dont buy them. i could never work out how the hell you pay cash on a buy and hold…[Read more]