P.S I have another theory how Australia might cure it’s lack of future work force…
Communism can’t last forever and we have a very large population looking for a home in the sun just like the rest of us and just over the equator:)

I totally agree that retirement complexes are nothing short of scurrelous but that doesn’t change the fact that they’re springing up all over and that regardless of any strata or limited type of agreement – a good percentage of people are going to choose that kind of life.
And rather than “not understanding” how this gig works – I’ve toured…[Read more]

Get a really good accountant and make sure you know exactly what it is that you want to do first. I have a trust myself but with the recent changes in tax law using a trust isn’t as tax happy as it used to be.

P

Have you read “How to Build Riches” by Bruce Davis?
Don’t be put off by the cheesy title it really is a good book about how to strategically build wealth with what you have:)

P

Okay so we know that some babyboomers will be looking for lifestyle and some investors believe that they’ll be able to cash in on that. But how do all of the retirement villages that have been popping up up and down the coast here in WA fit into this.
In my neighborhood you can’t buy a decent house for under $600K but just around the corner a…[Read more]

I don’t know about contracts but I do know that if you are not Australian you have to seek permission from the Foreign Investment Review Board before you can buy.
They have a website with all of their rules laid out.
If you’re buying with a corporation you have to already own substancial assets in Australia –

Good luck,

P

I would also be subscribing to the whole babyboomer thing if it wasn’t for the fact that all of the over 50’s in my family have sold up and either moved in land for more affordable housing or in one case moved to the country so that they could cash up and pay for their house outright.
I myself (am not ashamed to say it) live in a very nice…[Read more]

I’m confused by this one too – on my council rates sheet there was a blurb saying the figure on my rates was the yearly “rentable” value of the house which was weird because a freind lives in a different shire and their council rates go on land value and nothing else.

P

I agree with the others – everything in write – communicate effectively and all the time – dealings with family and friend is tricky at best

P

Thanks for the moral support Derek. I think the reason I wanted to use the woman was that she had stayed in contact and seemed so nice – she even agreed to be negotiable on her percentage rates.
I think this house has some emotion attached to it as it was the first one I ever bought (and boy was I ever wide eyed about it!)

By the time I’ve sold…[Read more]

Bruham,

With much respect – forget what my moniker may tell you – I am far from simple and can tell the difference between non-fiction and fairy tales. I write both for a living and that’s how I afford my investments.

But for someone who grew up with little or no financial education Kyosaki was a good place to start – Peter Spann also has a…[Read more]

You could always try this link too:)
http://www.pwc.com/extweb/manissue.nsf/docid/BF0CBEB0DF801CB285256ABF007E8505

If it doesn’t work try a search under trusts at price waterhouse cooper

Best,

P

I’m with you on this one Michael – I’m a Gen Xer who believes I shouldn’t have to pay for a baby boomer bail out either. Financial education is nothing new – the last 30 years has been plenty enough to pick some up.

Neither do I feel, as Mr. Costello suggests – that I should have to “breed” in order to support the economy. Another novel…[Read more]

We know someone who works for a major retailer and at this time of year he basically spends his days writing up paperwork for hundreds of interest free deals.
I was watching Today Tonight last night, they did a story about a lady debt collecting for these companies – the real interest rate was 27%!!!

People get into debt because they want to…[Read more]

http://www.realestate.com.au
http://www.reiwa.com.au (WA)
http://www.property.com.au

Setting up a family trust is never a bad idea – the trust can own the shares in your business. Trusts and companies limit liability.

Our trust cost us $250 – and it means that I can build a nest egg for the entire family – one that is protected from other members who you may have not wanted to benefit upon death etc.

The best book to buy is NE…[Read more]

Hi,

We lived in the U.S for quite a few years before deciding to come home to Australia and one of the things we wanted to do first was to own our own home.
I funded a house purchase out of my savings and shopped for my house over the internet – there are many excellent sites for this.

When we arrived back we had been proud home owners for over…[Read more]

thanks!

I use two premisis for my business – my commercial and a home office – the reason we have a commercial is because (as was mentioned before) a lot of councils don’t want residences used as businesses. Whether the tennant gets away with it will probably come down to if he has any drive up traffic…

If I were you I would ask him what plans he has…[Read more]

I think Spann’s book works so well because he’s personable – much like Robert Kyosaki. I enjoyed all of the Kyosaki’s and the Spann but in the end I think it all comes down to your personal circumstances as to which path you choose.
What I liked about both Spann’s and McKnight’s books was that they were tailored to the Australian market – if…[Read more]