Forum Replies Created
gianni
Never buy an appreciating asset in a company name unless the company is the trustee for your trust.
Company tax is always 30%, and have no CGT concessions, it is not the best structure to purchase in.
As for how it affects borrowing, my understanding is that it depends on the type of trust you have and how the funds are borrowed.
I am sure Stuart or Steve can shed some more light on it for you.
Cheers
Leigh K[
]Read, learn, grow but most of all just do it.
MiniMogi[
]It is starting to look like you are our resident NZ expert, I think Steve should leave a space in the program for you at the next seminar.[
]Cheers
Leigh K[]Read, learn, grow but most of all just do it.
And that funny glazed look that comes over their face when you try to explain what you are doing, usually it’s this one [
] or this one [xx(].I think my mum thought I was going to buy her a house because I bought one for someone else. Not much chance mum![
]Cheers
Leigh KRead, learn, grow but most of all just do it.
rogue133au
Welcome to the forum. As usual Del has given great advice and I am a strong advocate of the advice given by riegaz94, read, read, read.
Like Del, and I am sure many others (yourself perhaps) I wanted to be doing more with our equity and wanted to work towards a better life (not that it’s so bad now[
]).When I came across this forum I don’t think I slept for a week because I couldn’t get enough about this exciting venture. I went to the library and borrowed books that had been recommended here (use the search function above to find them) then bought the fast track tape available on this site for about $15. after that I was well and truely hooked. That led me on a journey to learn all I could, that ment pestering my personal banker at the NAB as well as people on the forum and anyone I felt really knew what they were talking about. I also learnt that everyone has an expert opinion including my mum who has never owned a house in her life. So choose your advice carefully.
The forum is a good place for finding reliable advisers like accountants, solicitors and brokers.
So my advice is don’t plan to be a millionaire by the end of the year but plan to know how you are going to become a millionaire by the end of the year and you will do so well.
Cheers
& Good Luck
Leigh K[]Read, learn, grow but most of all just do it.
Hi Del
Long time no chat too[
].I watched that show tonight and gather there has been a series all week, am I right?
Like most ACA and Today Tonight programs there is little substance, BUT like you there episode back in Feb about the reno queens is what led me to PI.com so from that point of view I see it bringing a lot of newbies to the forum that can start on the steep learning curve that we have gone along.
BTW, did anyone get the details of how to enter the competition for the Paul & Geoff seminar.
Cheers
Leigh K[]Read, learn, grow but most of all just do it.
I’m with AD, Dale is in Kilsyth and worth the drive.
Cheers
LeighK[]Read, learn, grow but most of all just do it.
[
][][][][][][][][][][][][][][][][][][][][][][][]That was so funny!
Leigh K[
]Read, learn, grow but most of all just do it.
Steve
I did put in an offer subject to satisfactory s32 amoungst others on your template and the agent was happy do submit it, just negotiating the dollars game now.
BTW, no I am not waiting on any info from you, all is going well, I spoke with the tenant last night actually and they have been doing their homework seeing a solicitor etc. and look set to be a wrap! Thanks for your help.
Cheers
Leigh K[]Read, learn, grow but most of all just do it.
BR
Welcome to the game, my advice is that you have found an excellent source of information in this forum and the best way to get that most advice is to use the search function located at the top of the page.
Good luck
Leigh K[]Read, learn, grow but most of all just do it.
Wow Del
I take it he has helped you with that situation[
].That really is a glowing report, I have always been impressed with Stuarts advice on this forum and will be calling him when! our bank slips up.
Cheers
Leigh K[]Read, learn, grow but most of all just do it.
Hi Del
Just waiting to hear from the tenant about the wrap. We are renovating the bathroom at home this weekend otherwise we’d come for a visit, so it will probably be at the seminar now.
Hi Flic
Thanks for your comments that was my thought also, I was very surprised when the agent told me the s32 wasn’t availabe still but it had been sold. I do feel better looking at the s32 because I have recent viewed one with a caveat for money attached. It makes me feel better that others think that way also.
And yes the deals are there to be had regularly[
]Cheers
Leigh K[]Read, learn, grow but most of all just do it.
Ishita
Thanks that was a good post.[
]
Ex spouse of a childCaution – protection is not “grandfathered” (have no idea what that means, even after asking for clarification – so if anyone wants to help out on this, that would be good)
I am going to have a stab at this one; I think (but do not know for fact, that this means while the trust is protected from ex spouses of children, the childrens own assets are not protected from the ex spouse.
Having typed that now I don’t know how close I am, maybe someone else wants to have a go.
Cheers
Leigh K[]Read, learn, grow but most of all just do it.
Jars11
I think what you are doing with this thread is a good idea, however both of those formula are for ppl to quickly gauge if a property is going to meet their basic return requirement. So those listed are probably it.
My suggestion is that we maybe put up other calcs simple and hard to help everyone understand other aspects, such as stamp duty, equity, etc.
I have got the formula for Vic stamp duty somewhere under this paper mountain when I find it I’ll post it.
Cheers
Leigh K[]Read, learn, grow but most of all just do it.
Hi Steve
That sounds a little melancholy, it sounds like you need an injection of the 1% variety, I think you give so much that sometimes you don’t receive enough. I hope you and Dave know and appreciate the gratitude I have for you both.
I would like to add a little more to David C comments. I think people think they are the 1%, and contributing to the forum is only a mere contribution in the 1% catagory. I read comments, from people that have posted to this thread, in other threads that show people are in for the quick cash out or top dollar and then say they are givers, I don’t think so.
Think about your true self then decide what % you are.
Leigh K[
]Read, learn, grow but most of all just do it.
Good advice Del.
I have heard, haven’t had experience here but, heard that if you pay for your own flight and go to see agents on your own terms you will cut out the marketing men, I am sure there a plenty of developments up there that any agent would have listed.
DON”T GO!, Keep reading here and do it yourself when you are better informed.
Cheers
Leigh K[]Read, learn, grow but most of all just do it.
Investa
What sort of rents can be acheived at that price range?
Cheers
Leigh K[]Read, learn, grow but most of all just do it.
]
]
] or this one [xx(].
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