Forum Replies Created
You have to question if the market in Sydney will be a better CG over time to offset tax charges and secondly there may be some good buys comming when people panic.
When realestate prices drop people panic and pull out same as the stock market but if there was a 30% discount in a supermarket people buy???[blink]
It is only a matter of time before other states follow this line – we need to think four dimentinal on this one.
[email protected] [upsidedown]
a town not mentioned is Blenheim in the Marlborough region which is on the top of the south island and is the largest GRAPE growing region in the Southern hemisphere.
Harvey Norman has just moved in and there is plenty happening with a good population and is known as the number one sunshine state of NZ … good hunting.Hi Simon whats cookin, yes I know several brokers/companies that charge between $2,995.00 – $10,000.00 as a fee for service – new scam if you ask me … regards Phil
1.5 million in one year – how – develop property!!
50 blocks at $30,000.00 + $50,000.00 dev costs + $5,000.00 holding costs = $85,000.00 wholesale then sell for $125,000.00 to waiting builders = $40,000.00 gross profit x 50 = $2,000,000.00 gross profit – tax = net profit all with no money down.
Thats why developers get rich, look at the names on the cranes of development sites and you work it out, I’ve asked before what is you STRATEGY because when the market changes (and it is now) the bricks will fall.
[email protected] [suave]
I agree with Kaye Henry – a property millionaire is EQUITY based and can be no other – 1 mill property and 1 mill debt = 0
Markets change quickly you must reduce DEBT quickly to build wealth and repeat.
I would rather have debt reduction on a property rather than be $5.00 positive cash flow and not reducing debt – very dangerous – it is going to be a very interesting 6 months ahead – lets see whos opinions win.
[email protected] [grad]
This reads as a yearly tax of 0.4% PER YEAR for any properties other than your own home in NSW.
Queensland is looking good to me how about you.
[email protected] [cigar]
go to http://www.nsw.gov.au for the manuscript
People who are highly debt geared are walking in a mine field, save hard start small build confidence then leverage your equity, also get local advice and don’t be too bothered what is happening in America, good luck regards Phil
If you think it will or you think it wont you are probably right.
Property is a long term savings plan (super) I have not met an overnight millionaire, you can make money in any cycle, in fact I hope the interest rates go to 10% tomorrow because I will be picking up some great bargins. Regards Phil
Yes I am a negative gearer and a positive cash folw person as well, I invest in all types of property and am now developing land subdivisions which is very exciting because you can get free land to build properties on.
To advance the origional question I would like to know how may people on the site own any property at all who post comments. regards PhilWhy is it important for you to accept the fees after settlement, normally the fees should be discussed before you enter into any transaction.
Hi Chan is ez-rent tax compliant (aussie) regards Phil
O.K I give up … why do you want to go to Vietnam to do a course when you can stay home home and get more benefit in Aussie … or is it like HK …spend more money travel to further destinations therefor the better the value … are you really that gullabul … I’m confussed or should I give you my bank account details … sorry for the scarcasim. Phil
Bloody Politations, in my view this will kill property industry, owners and investors alike.
Is it better to pay $10,000.00 up front or $______ over 20 years … cheeky bliters.My suggestion is that every politation should prove they can run a business (in the black) before they represent us and spend all our tax money.
What about the superanuation issues … they have spent all our money and are now in the process of revenue raising.
So Pisces, the asking price was justified? is that correct? … I don’t believe it is the job of the agent to provide you with analayis and costings renovating, subdeviding or what ever you choose to do with the property, that is your responsibilty.
An agent can be suied for giving advise and their main function is to list and sell property.
I deal with agents every day as a developer and investor and warn the agent strongly not to tell me its a good investment unless they want to enter their comments into the conditions of the purshase contract, you want to see an agent run when you suggest that.
Example; I am in the process of purchasing a DA approved 70 lot subdevision the agent said 4 weeks ago you had better put a $200k deposit down by next monday because 5 other people are hot to trot because there is a 2.5 million dollar profit in it.
My advisors told me to do a soil test, the result is that it has Black soil which meas that every slab needs unerpinning at $15,000 each times 70 lots, you work it out, needless to say they are very gun shy at the moment and we are still negoiating.
My summary; AGENTS are not ADVISORS and if they teel you the deal is a great investment try using this line … if you are telling me that this ______ is a good investment are you willing to put your comments into the conditions of the contract.The money you have today comes from what you did in the past … the money you have tomorrow comes from what you do today.
I was getting lots of crap in one of my email addresses at the office, the solution was to delete that address ie: sales, and now have no more problems, my business contacts were made aware of the changes and now its biz as usual, shame to go to that extreem but the problem is totally fixed … Phil
Kindred, the greatest proof of all is when you can prove financially that it (OT) works for you and then you can prove your success to us, this system is the same that was used by evision (websites).
Introduce me to 10 local self made millionaires and I will be swayed until then good selling … regards PhilI attended a preview night of Nouve Riche (america) about a year ago where the REAR software was introduced, to me it was no better than Jan Sommers professional PIA although the sales pitch was good. I personally am a fan of learning from locals and believe that Australians should be selling to Americians. I believe that the Wildly Wealthy Women are selling the same package which has a $1500.00 commission built in so to me it is $1500.00 overpriced, look locally including this site and Steve you will save a lot of money learn the same stuff with out the rah rah … [email protected]
How much is too much … the Agent must provide evidence in the form of recent sales to be able to justify the price tag … all agents have RP Data which gives up to date history of all recent sales in that area … the only other variable would be things like water views, larger land etc etc, I suggest that you request the agent to provide you proof of comparatable sales history. Phil
Thanks for the replies, the dificulty I have had is producing a format that is acceptable to the tax man, these days accountants are requesting more clarity because of complience to the tax department, I know first hand that the tax department are hot on the trail of property investors and substantiating losses which are being claimed, the penalities are very severe … thanks Simon things are fantastic … Regards Phil
