Forum Replies Created
Hi Donna,
Nice to hear from you. Welcome to the forum.
You can easily print out the post you want by clicking on the printer icon towards the top right of your screen (next to the envelope icon and under the subscribe to the newsletter box).
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi div43,
Try bookstores… or your local accountant.
Bye,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi,
This can certainly be a complicated area – especially trusts.
quote:
Capital gains derived by a trust from a CGT event happening after 11:45amEST on 21 September 1999 may be reduced by 50%
-2002 Master Tax GuideWhat this means is that so long as the beneficiary of the Trust is an individual or a complying superannuation fund then the discount may apply.
As always, it is best to get the advice of your accountant for your specific circumstance.
Regards,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi,
Just arrived back from Sydney after the radio interviews with ABC and 2GB. It was certainly a very big experience which I really enjoyed.
You should have seen the phone lines light up last night… amazing. When I left at 11pm there was still a full board!!!
Anyway, to answer the sceptic(s)…
It’s a fact that in the last two months Dave and I have acquired around 60 more dwellings, all positive cashflow. The way we have financied these is we have sold some of our blocks of units for a good profit and then reinvested the proceeds buying cheaper houses on higher yields.
I think that the example I gave on radio this afternoon best sums it up…
If you bought a $30,000 car and then a year later someone came and offered you $60,000… would you take it?
Yes – especially if you could go back and buy another $30,000 car!
Well, that’s what has happened with our property too. For us and our goal, now is a good time to sell the higher priced stuff and redirect efforts back to the grass roots housing.
As for the area… I have now made it a policy not to discuss where I own property as I can influence the market. But I will say this… what difference does it make whether the property is in Vietnam or Vermont?
What’s needed is to turn your investing into a system and then the location isn’t as important as the person.
As to why other people can’t find the deals… I can’t explain why. They’re out there…
Happy hunting,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi,
This thread caught my eye and I wanted to quickly respond b4 calling it a night.
I attended JB’s AW program in Nov. 1999 and found it to be useful, although rather basic. To JB’s credit he has since updated both the content and also imported some local speakers to add Aussie flesh to his tactics.
Personally, although there have been some issues between John and I, I would advocate that his information about how to regain control of your finances is excellent.
As for my testimonial in the front of his book… it’s a long story, but I have asked him to remove it, to which he agreed but it didn’t happen… I don’t know why…???…
I wish JB much success and hope that his tour here in Oz goes well.
Sincerely,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi guys,
Just clarifying…
1. The price of the book is $29.95 – but the only way I could get this to work on the site is to set the base price of $20 and then add $9.95 as postage so that the overall price comes to $29.95
If I was to charge postage and handling then the price would be $29.95 + $9.95 = $39.90
2. Books should be in bookstores from today for sale at $29.95.
Hope this has cleared up any misconceptions… sorry for the confusion as it was not terribly clear.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi,
Re: the book in bookstores.
The publisher did an initial print run of 7,000, of which 3,500 have been sold and I have a further 1,000 here in the office.
My guess is that until the publicity really hots up and word of mouth gets out there… it may be a little difficult getting a copy.
I hope to have it uploaded into the resources section by Monday 9am. Actually, I am planning to have the whole redesigned site (in php) + the new forums all go live some time on the weekend, but this is largely out of my control.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi,
OK – time to go out on the skinny branches!
George was working at Break Free Events when I did some seminars with them last year. He has since left to start up his own company.
He has purchased my Wrap Library and as I understand it has gone on to do approx 10 wraps – mainly in Tasmania.
The issue I have with George is that he has blatantly breached my copyright (read ripped off my info) on his website. When approached by me he did take it down, but I’m still waiting for an apology or explaination of how it came to be that he was passing off info that I had written as his own.
Nevertheless, despite all this, I quite like George and know that he is a person that has a clear focus. As for him being:
quote:
…considered as Australia’s Number 1 Outstanding Success, Peak Performance and Wealth Coach…sounds like he might have been a little liberal with the sales copy. He’s someone out there trying to make a go of things, but I’d like to see his investing results, as opposed to marketing hype, speak about whether or not he is someone who has a worthwile message.
George – if you’re out there… please feel free to respond.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi Michael,
You should have received one!
Still, I am aware that some people may not be receiving it due to the software that I am using being scanned as spam (ie. in the message header). This is particularly so with hotmail accounts.
I am trying to currently resolve this – Michael, can you tell me what e-mail software you use?
In the meantime, you can get backissues at: http://www.PropertyInvesting.com/backissues
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi,
Privacy is becoming more and more of an issue thesedays, so my preference would be to show only the State where people are posting from.
This will be done shortly after the new forum goes live.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi,
I read this post with interest as I went to PF intro night and thought that it was quite good (as far as free seminars go that is).
I’d be really interested to know some more information, specifically:
1. why you felt it was poor value for money
2. who the guest speakers were and what they spoke about.
3. how many people were there in the crowd
4. what the topics of discussion were
5. what you feel could have been included to make it better value for moneyAny insight would be great.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi Sasha,
Thanks for your comment and welcome to the forum.
For further discussion of this topic please refer to other recent threads about NII.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Leigh,
My first read of David U’s post was similar to yours.
However, having clarified what he meant, I’m happy to go in to bat for him and suggest that he is not hinting that some forum members were lemmings.
I think his post is directed to an observation of where the property market currently is.
What might have been helpful (had David U had the time) would be to go on and explain his strategies or theories for how to avoid or mitigate the risk of a market correction.
To this extent, my own theories (investing system) include:
1. Generally pay off debt as quick as possible.
2. Consider my how I finance my property portfolio. Have a bias to P&I loans, and avoid interest only loans that cannot be easily converted to a P & I basis.
3. Look at the gap (if any) between my mortgage payment and what I could rent the property out for if I had to rent at -20% to the current rent (there should always be a tenant at that price!)
4. Consider a mix of variable and fixed interest loans.
5. Keep a track on what the market value is and have a ‘fire sale’ price in the back of my head in order to have a grasp on the real risk. Ie. a property bought for say $200,000 should be easily resellable on a fire sale basis at say $170,000. That being the case my investment risk is $30,000 (+costs) rather than $200,000!
David and others… do you have other strategies?
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi,
Just leaving so I need to be quick…
Generally speaking, if you replace one item with another of comparable quality then it is OK to say it is a repair (100% deduction).
But… if you make an upgrade then it is a replacement (depreciate where possible).
My first glance thoughts on:
1. Replacing a wall… structural, not deductible – add to the cost base of the house.
2. Repairing a wall (replatering, painting with same kind of paint, recarpeting with same type and quality of floor fixture)… repair, deductible.
3. Re: replacing walls with sliding doors – as you are not replacing walls with walls of a similar kind… structural as per 1 above.
It doesn’t matter whether the change adds to or decreases from the possible sales price. They are independent events compared with deductibility.
4. Study to bedroom… change again, so unless you just replaced what you took out with the same kind of material, then sorry, no deduction.
Inputs, outputs, more rent, less rent… it all doesn’t really matter. The basis is whether or not it is a repair (deductible) or a replacement with an improvement (possibly depreciable, if not, add to the cost of your property).
Of course, matters such as this should be discussed with your accountant… and it would be wise to follow Stu’s advice re: chasing up the ATO position.
Bye,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Mey,
[
]The book is the pet project that I have been working on since January… my first formally published masterpiece about how to build financial independence using property.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi David,
And your point is…
Do you think that people are blindly investing to real estate with little forethought?
Yes – I generally agree, but this is no different to the way that a lot of people have invested (in property, shares etc.) for a long time.
The issue about investing in regional areas seems to have been overplayed in my opinion.
While I totally agree that people buying off the ‘net without so much of a minute of research set themselves up for financial probelms, investing under a sensible and proven system means that you don’t have to physically inspect every property you buy.
The Lemming story was interesting (who were the Lemmings?), a phrase that is more commonly used is: “a fool and his/her money are soon parted.”
For people interested, Proverbs 10 onwards in the Bible (the wisdom of Solomon) contains a lot of good passages to consider. Here are three to get you going:
quote:
Pro 10:4 “The one who is lazy becomes poor,
but the one who works diligently becomes wealthy”(this next one is for those doing wraps in an unethical manner)
quote:
Pro 10:9 “The one who conducts himself in integrity will live securely, but the one who behaves perversely will be found out.”(and lastly, one for all to live by:)
quote:
Pro 10:7 “The memory of the righteous is a blessing, but the reputation of the wicked will rot.”Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi Dram,
Yep… I’ll be taking orders from the middle of next week (probably Wed.)
I’ll send around an e-mail to let members know when.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Soosh,
Perhaps this is a worrying trend? The herd mentality as mentioned in another post?
I fear that when the property bubble bursts it will end in tears for many investors.
Time will tell..
Bye,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hmmmm….
Sounds to me like that Mezzanine Finance thingie that Mr. Kaye was pushing a while back.
No money down for developers… they borrow 80% from the bank and the other 20% from investors.
100% debt + property development = potential for huge financial disatser.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi,
Thanks for having the courage to make your posts and I agree with wilandel… welcome!
I agree that there is a lot of good information here, from quite a diverse perspective.
Rememebr though, there is plenty of opinions (my own included) and you need to distinguish these from facts.
Still, as far as a good resource, it’s hard to go past this forum for A Grade help.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
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