Forum Replies Created
WOW what a time for this thread to come back from the dead!!!
I am actually due for a new car as there is no more depreciation vaule in my camry, also there is somehting that my dad doesnt like.
I am thinking about trading it in for a small car. ( which i probably should have got in the first place)
Looking at the honda Jazz, what does yous think??
trade in for about 14-15k and get it for 17k something like that.
cheaper to run, smaller car. etc.Hi
Im a simple minded guy, but it if i were in those shoes. I would be very careful to where that money goes. as people have said. you dont want to go into a bad investment and lose it all. Since you are on med leave, i don’t know what your condition is but lets say that you dont want to have all the stress of owning a property. By my very simple calculations, 300k in the bank @ 6% = $18000 @ 7% = $21000 and if you look hard enough 8% = $24000 per year.I would really consider doing this for a period of time living off the interest and the insurance income. until such time as you can find a good solid investment. or til a time where you can find some kinda work or something.
In this situation i dont see any harm in leaving the money in a lazy bank account.
I just did a search on Mt Isa
it only returned 5 properties!!!
What the?????
Hi
I have another question regarding LLC and taxation.
I have set up an LLC to invest in Tax liens in USA, but have not started, tax time is coming up and i haven't done any trading or made any money in it. Do i still have to file a tax return?? I understand it cost between 300-500 to do it USD.
I have asked a few people, and some people have said that i must file and some say that i dont need to.Can anyone shed some light on this??
Hi,
I am also looking to build a granny flat at the back of one of my properties.
Can someone help me find out what is required. I rang the council up and all they said i needed was a building certifier.
Basically i have the shed/garage that i can use already. I just have to fit it with flooring, ceiling, little kitchenette and bathroom. I am looking to build this for the cheapest price possible.
Can anyone recommend a good building certifier??
How much do you think i would need to complete the project??
Has anyone done this before, and what are the steps that need to be followed.
My House is in Runcorn Brisbane and i am in SydneyHi,
I am also looking to build a granny flat at the back of one of my properties.
Can someone help me find out what is required. I rang the council up and all they said i needed was a building certifier.
Basically i have the shed/garage that i can use already. I just have to fit it with flooring, ceiling, little kitchenette and bathroom. I am looking to build this for the cheapest price possible.
Can anyone recommend a good building certifier??
How much do you think i would need to complete the project??
Has anyone done this before, and what are the steps that need to be followed.My House is in Runcorn Brisbane and i am in Sydney
This is very interesting, I am thinking about the same thing. Lets see, I want to turn an existing garage into a granny flat.
So the external structure is already there. I just have to fit out the internal.
What do i have to consider?? Things that come off the top of my head are
– small sink, kitchenette
– Toilet shower and vanitiy,
– Electricity
– insulation
– Flooring
– Window dressing for privacy
What else have I missed?Also, What are the rules in regarding to leasing, with the council, the agent, (this garage behind a house i have in brisbane). Do i have to have a development approval?
What else have i missed?Bumping for any new leads
Hi Rachel.
First of all, congrats on being a landlord. From the sounds of things you are young.
I went thru the same thing when i first started. you get bombarded with what the agent tells you and you feel like you have to go with them.
It takes a while to build confidence up to talk to these PMs. Just takes a bit of time. I agree with most of the advice above. you cant just go with what they tell you, sometimes, you have to demand the inspection. tell them what to do, get them to go and take photos. You are paying them and from my experience, they dont like losing a rental property.Hope all goes well for you.
Wow. That was one great workshop. I can feel my brain bursting with infomation, it was certainly an overload for me this weekend.
Had a great time and met fantastic people.
This time I am going to make some money out of this.I met a very switched on person at the workshop James. He is setting up meet ups in Melbourne to go thru notes and further educate ourselves in the process of buying and redeeming tax liens. I want to set up one in sydney. So if there are any Sydney pole wanting to meet up and go thru stuff together please contact me and we can set up a time to run thru things.
Simon Ung
[email protected]
email me for my number.Great. Sounds like going to be a fun weekend.
I think this smaller group will be great for networking, I was too chicken to talk to anyone during the 3 day conference but determined to network tmr.My human name is Simon Ung
Hello
Anyone else annoyed at this 250k Club??
the book registration is still on " click here to be notified" There isnt a separate section for 250 club members. We do get the email homework. but thats it. I thought there was more to it for what i have paid.Anyone else have any other comments??
Hi There, Im going too from Sydney
I am very interested in this so i can park my money when it is not being used. i hope the returns and how it all works really works.
I am also very interested in setting up the US paperwork so i can continue to invest in the States. im sure when Tony does the setting up the paperwork for us, we will be able to use the entity to buy direct property or anything other type of investments in the US of A. Its going to very exciting.I am staying at the Mantra on Jolimont – east melbourne. was told that that was the closest to the venue, Anyone else??
Hi, I have tried all of the above approaches. and none of them worked for me, (i know its my fault) im just not disciplined enough. So i use a lazy man's approach. I look at what i am earning per month and at the start, i put a percentage away or an amount away.
The rest i use to pay bills, ( all on time) spend, go out, eat out as much as i want.
Say i make between my wife and i $6000 per month, I might put $3000 away in a online savings account and just watch it grow. Over one year i have a deposit on an investment property.This is by no means the best way but it works for me, so look at your monthly income. put 20% away and spend the 80%.
Hello
I think i need to turn to NZ for investments as well. I am finding it increasingly difficult to find positive CF properties even in rural areas of NSW.
Could someone please advise me of what to do to get started, i mean, Do i have to set up a LLC, engage in a lawyer, accountant, mortgage broker and property manager before i buy, I want to know all the ins and outs before i even step my foot into NZ to start looking, I am mainly looking for positive cashflow.
Please email if you can help.
[email protected]Thanks.
Hi, Thank you for your quick reply.
Yes i can understand that not everyone is the same, and different pple have different strategies. As you can see by my signature at the end of all of my posts, That i am still a baby at this game, I am still very much a numbers freak, To me, at the moment, the more properties i have, the bigger my returns, and the more money i will make.Thank you for taking the time to reply, i really do appreciate it. I have my goals. but dont know if i am willing to part with so much money.
Ibglen
without being too rude, how many properties do you have now? and are they what you want?? IE positive/ negative CF, in the right areas. does it all fit into your investing strategy??
And can you say that the RESULTS program is value for money, I mean, can you honestly say that u wouldnt be in your position if it hadnt been for the mentoring/ coaching you got?Ohh and i dont even know what kind of money we are talking about?? dont have to exact. just a rough ball park figure is fine.
Terryw wrote:Say you have a property worth $100,000 with a loan of $30,000. That means you have $70,000 exposed if you are sued.So what you do is gift $70,000 to your trust. Your trust then lends you $70,000 and it takes a second mortgage over your property as security.
I am not sure of the taxation implications. The trust should probably charge you interest to make the transaction commercial. This interest may be deductible depending on what you used the funds for. This would in effect shift income from your personal side to the trust side. The trust can then distribute the income to the lowest tax paying beneficiaries available to it.
This will acheive tax minimisation and asset protection without actually having the property owned by the trust, or incurring stamp duty/CGT by transferring it to the trust.
Hi I'm learning about this too. I am assuming that the gift and the loan back of the $70 000 are only minute postings in the company meeting registers right. No money is actually transfered physically.
Just a quick one on this, When banks look at the rent, do they look at the full rent or, take a % of it?
I heard that banks will only take around 70% of rent into consideration of serviceability, Is this correct??There is very little info on their website. I have just registered to get their newletters or what ever.
Lets have a look at what they can do for me
