Hi Beck,

This issue is discussed in Chapter 6 of the Wrap Kit. I’m an avocate of the emerging profits basis and from memory there are worked examples to help you understand how to cruch the numbers at tax time.

Cheers,

Steve McKnight

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Remember that success comes from doing things differently.
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Hi Jo,

Sorry to hear about your friend.

I think this raises a wider issue about asset protection and leads to a realisation that sometimes the biggest threat comes internally rather than externally.

It’s certainly hard to reason why a property has fallen 50% in value when there has been a huge boom Australia-wide.

Perhaps the fixtures and fittings have been depreciated, but this sounds odd given that such costs on a private home would not be deductible!?!

As for the justice system… this is always a last resort. Would I’d do is recommend that both parties meet with a solicitor to draw up an agreement that HE assigns all his entitlements to assets etc. over to HER upon the termination of the marriage. Still, this is an issue that needs proper paid legal advice.

Re: pre-nups etc. This is an option, but a better idea, especially for investment assets, would have been to have them in a family trust where your friend was the Trustee.

This way she could distribute income to HIM without giving him any ownership rights.

Hindsight is a wonderful thing though.

Cheers,

Steve McKnight

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Remember that success comes from doing things differently.
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Hi,

You can pick it up from the online shop (see options in left hand menu). Be sure to include your discount cose as per the back of the book to buy at a reduced price.

Cheers,

Steve McKnight

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Remember that success comes from doing things differently.
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Shaun,

We are still applying the same model as outlined in 0 to 130.

Buying positive cashflow deals and making money.

Cheers,

Steve McKnight

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Remember that success comes from doing things differently.
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SIS,

Never say ever?

What about funding a replacement asset when the other one wears out… just be mindful of the Ansett lesson and an old fleet.

Still, you’re spot on when you say there is a benefit… but just be aware that it can be a double-edged sword.

On a different note, thanks for your continued support with this forum board – it’s much appreciated.

Good night,

Steve McKnight

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Remember that success comes from doing things differently.
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Hi,

I’m 60:40 in favour of the belief that interest rates will rise by .25 basis points.

Time will tell.

Cheers,

Steve McKnight

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Remember that success comes from doing things differently.
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Hi,

Shesh… all i said was:

That’s not too harsh is it?

To me, this is a simple matter of breach of copyright.

You have a copy of something that, whether you realise it or not, ought not have been copied. I am only standing up for the rights of those that paid for the material who should not be disadvantaged by those who have not.

Well, I don’t regard it as fair play to make an illegal copy and then use this resource to flaunt it!

Still, no harm taken… only a slight cheek sting since I see this as a slap in the face.

[dazed]

Aw heck… you’ll never get anywhere with this attitude. ‘If you want the really good info hey?’ – make makes it really good – the price?

LOL

Enough of this – move on to more positive things.

Bye,

Steve McKnight

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Remember that success comes from doing things differently.
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[glum2]

Aw, it was all in fun…

OK, it’s back to more respectful system.

Cheers,

Steve McKnight

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Remember that success comes from doing things differently.
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Hi Misty1,

Welcome to the forum []

Risk and return are always present in every investment, but not always in equal amounts.

For example, risk can be mitigated by using a proven system that’s applied with effective management, which will maximise your return at the same time.

This (system and management) explanins how I’m able to make positive cashflow from deals while other people struggle to see the profit.

When you understand this you see that the property (location etc.) is incidential to the profit… what is critical is being able to spot the opportunity and apply the system.

So, to answer your question:

Yes, but only to the extent you have a system to make money from the crazy ideas. If you are flying by the seat of your pants then the more remote the idea, then the more remote the chance of profit.

Cheers,

Steve McKnight

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Remember that success comes from doing things differently.
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