Hi Carmen, I’ve never heard of a ‘conveyancing report’ so cannot advise you on it, I think you may mean building inspection report, or simply conveyancing.

If you mean a building inspection then you should make it a condition of the contract that the purchase is subject to a suitable building insp report, then arrange one (can be done after you…[Read more]

Hi Andrew

In your example, basically you would pay CGT on the difference between the sale price and initial costs i.e. $60,000.

Because you have owned the asset for more than 1 year, you are entitled to a 50% discount on the CGT. So you would only be taxed on $30,000 at your marginal rate.

If your marginal rate is 31.5%, you would pay about…[Read more]

Hi Shane, I agree with Tim on this one. Nice place to visit, well actually its not – but Strahan is nice (about 25 mins drive away).

There is a road up the west coast from here. In Tassie it is called the road to nowhere.

Seriously.

Tas []

BB is right on all counts, and I would like to add that the other way you may like to do a deal with your mum is that (assuming you can find suitable properties with high enough returns) you could simply use her equity (the $ she gives you) and then pay her say 12-15% interest on it.

The difference between the two methods is that generally under…[Read more]

Robert Allen is an infopreneur, and by reading his free info and books such as the one minute millionaire you actually get a fair idea as to how he gets his money from doing this all for free. Basically he expands his newsletter base and can then sell more of his books, tapes, paid seminars etc. For instance I started with a lot of free stuff and…[Read more]

Would love to be there but unfortunately won’t be.

Tas []

Why? Nothing against Devonport, and yes there are positive cashflow deals to be had, but on the basis of the ferry arriving there?? Think about it:

1. There is already the Melbourne ferry arrives there, so its not that big a deal.

2. Apart from a few lunchtime cafes that will benefit – when everyone departs the ferry at around midday – what’s…[Read more]

Benson, did you also know that Steve is about to update this website with all new features but its a bit delayed I think with all the other stuff he is doing such as:

Recent wrap seminar in melbourne
First book launch this friday
Mentoring 10 apprentice millionaires/writing 2nd book
oh and buying more properties (25 in the last 5 days)

Tas []

Hi Judith, yes you can use your equity in your home for the deposit (say 20% of purchase price) and then borrow the remaining 80% against the new property.

You would physically need the $$ to pay a deposit on signing the purchase contract (though not necessarily the 10% requested, you can negotiate), so you will need to refinance or set up a LOC…[Read more]

I agree with RSTARR.

Basically it explains everything about structuring options and then recommends the structure Steve and Dave use for their investing. Makes so much sense and is well presented. Sounds like you will really enjoy it Amitash.

Tas []

I think this comes under ‘other comments’ ha ha…

There is a block of 4 units for auction at Bondi Beach this weekend. For details visit http://theblock.ninemsn.com.au/theblock/

I think they are overpriced!

Tas []

God what a negative article! I have come across it before – still havent read the whole thing as its too negative.

All I can say is that reading RK’s books have opened my eyes and I’ve had many Aha moments as I read something he has written that is relatively controversial (eg. your house and car are not assets, an asset is something that gives…[Read more]

Hi Di

In my experience, using a property manager, the tenants have been no problem (4 out of 4 properties) [].

All properties have been clean for inspections, they have had work done in the gardens (inc. new plants etc). Normal wear and tear.

The only problem I had was with one property (it must be jinxed) when the neighbours car went out of…[Read more]

Classic Del! That line cracked me up []

You’re right – the wraps help fund the buy and holds (by providing the deposits for more buy and holds) and I am sure Steve said somewhere that buy and holds are the long term key when it comes to passive income.

Be flexible with your exit strategies everyone…

Tas []

I’ve come across a good website that you should take a look at…

http://www.parapublishing.com

Its a US site, but has heaps of tips on book writing, publishing and promoting (both online and printed).

I’d like to write a book too someday!

Tas []

Hi Tess,

I don’t have a LOC but I have been looking into them recently and I found the ANZ one to be the one I would have chosen too (I decided I don’t need one in the end).

A mortgage broker told me the interest rates and fees are similar across major lenders, but there can be some variation as to how much they will lend (their lending criteria…[Read more]

I read her positive cashflow book literally as I was starting out and it was the best thing I ever read (at the time). It all made so much sense and really is one of the things that got me into this. I realised that the one and only property I ever owned (and which is now rented) is actually +ve cashflow, and I had never even heard the term…[Read more]

I wholeheartedly agree with AussieRogue bigtime in that Steve is fully aware of the potential impact of these circumstances and has taken steps to minimise risk where possible, eg he mentioned at the recent wrap weekent that part of his total loan portfolio is fixed (not variable), to minimise the interest rate risk. Obviously the other key…[Read more]

thanks for the last couple of tips – I will make sure when I get offers I really stick it out! I am not desparate to sell, and I really am selling to get the highest price possible in the current market. Hey if people are silly enough to buy over the phone – thats their problem. You’ve reassured me Kooringal [^]

Davo70 – hindsight is a VERY…[Read more]

I thought if you had a trust you went guarantor and there was no problem getting finance (not that I have tried myself yet, havent even got the trust set up!).

Just wondering if you used a broker?

This is actually a great post – why? Because it shows the excitement of property investing through the Dynamic Duo having taken that step toward…[Read more]