Fell asleep after the 8th chapter and haven’t picked it up since. This was last year. My friends thought it was the best book in the world and suggested I buy it… I’m glad I’m not doing the negative gearing bit now. Ouch…my pockets would hurt big time!
We’re proud of you! [^] I hope you frame a copy (hopefully the 1st copy) and hang it on the wall, because YOU did it.
I guess, it’s like when my son brings home artwork from school, I hang it up on the board in the kitchen for everyone to see, so that it reinforces
1) what he’s learnt
2) he remembers the experience he had when doing it and finishing it
3) He can see how proud I am of his work
4) It’s an achievement he can be proud of
5) It’s a good talking point
Like a ‘Gold’ Medal and what it represents to an athlete.
A Toast To You!
May G-d Bless and Keep you and see you go from strength to strength in all that you do
No, a gift of money (10K) is tax exempt.
This was what I was told athough it was about 5 years ago. I’m sure updated info will probably be forthcoming if I’m wrong []
I think I made a post about Rockhampton about 3 months ago, where the agent put the price up 10K on a whim, without consulting the vendor, because the market was so ‘hot’ and he didn’t have time to update his stock on the net as people where buying site unseen over the phone. Actually, it was about 1 week after Steve’s last seminar, prices went nuts there.
If you are 12 years old, its great that your taking an interest in your future [^]. However, one of your biggest hurdles in property investing will probably be credibility. Perhaps its a stereotype we’ve come to accept that most 12 year olds are out rollerblading, skateboarding or playing Playstation 11 etc.
How do you think you will come across to a real estate agent when you tell them you want to buy a property?
How do you propose to get finance (unless you already have 100% finance) from a lender, when you are not working etc…Low Doc or No Doc loans would not really apply in your situation (I guess you could always appeal against these stipulations on these loans).
The next problem is trying to convince potential wrappers that you are serious and responsible enough to sell them a house under vendor terms. Resentment that someone so young is trying to sell them a home, when they can’t afford one, might be a likely scenario when you meet these people (if you get to that stage).
I recommend that you team up with a adult family member you trust, find out more about wrapping, do your research and then let your adult team member be the ‘face’ of your enterprise.
Good luck with your venture.
Cheers
Sooshie []
Any accountants out there []?
Tonights Steve’s Launch of his new Bestseller book, so the forum might be a little quiet tonight. I’m sure someone with nouse for figures (unlike me) will be able to help out.
I unfortunately can’t be there, but have fun…or you could play a trick on Steve and pretend not to know him []…”Hey, I thought this was the book launch on ‘How Accountants Love their profession So much – they do property!'” [:0)]
I should have made a mention in my last post that I was letting people know where and when Steve’s book launch would be tonight.
We all get that ‘scrambled brain’ syndrome sometimes []
It could be in South Yarra now…but when I was living in East St Kilda, we always called it Pharan. To satisfy huntress_love, Time: 8pm Where: Boarders Book Store (you can access via Jam Factory) South Yarra
While you’re there in the Jam factory complex, go to Papparazzi Cafe and buy a Coke Cola and get a free popcorn (they were on Today Tonight and I reackon they should be supported)
I agree with Aussierogue.
Jenmen is suggesting an emotional link with the house of choice.
quote:
Decide which is more important – the home you love or the price you will pay
Emotionally getting attatched to a house would have to be up there with the DONT’S of investment buying.
As Aussie stated, if your a HOME buyer, than you can make that decision, but it’s not really being too clever (as Jenmen suggests) to negotiate.
Just follow a plan []
Cheerio
Sooshie []
Sounds reasonable to me! I think you’d all groan if I told you our accountants fees…
I feel ill [] when I think of it…
Yet again, nowadays you pretty much get what you pay for. If my accountant does his job right, then he’ll be worth his weight in gold.
We use the equity in our home to fund the deposit on the ip, then get finance for the rest. We find this easier to do.
Although we have made mistakes of giving 20% deposit up front. The real estate agent was a ‘stick-in-the-mud’ and didn’t like wrappers and we were dumb []. That’s all by-the-by now.
Cheers
Sooshie []
Unfortunately, ABC Nightlife are not going to publish the transcript at this stage(or so they told me), they suggested buying the tape ($35) or buying the books by Lomas and by Steve.
They did have another transcript (edited of course) on property (some consalation ha []) at http://www.abc.net.au/insidebusiness/content/2003/s921028.htm
but not our Steve! []
We can’t win them all…
Better Luck next time and maybe we’ll have a bulletin board to list all upcoming events.
Cheerio
Sooshie []
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