Forum Replies Created
Pisces,
Of course I mean others…
We set up our trusts, for asset protection only.[
]I love paying tax! [:o)]
Del
Hi Elwood,
Welcome to the forum…[
]Probably my biggest regret was that when we started, (exactly 12 months ago), we didn’t really forsee ourselves owning lots of property, even though that was our goal.
At first, we bought 3 properties in our own names, and then realised that “we can do this” and then we set up our Trust Structure.
I would look into a trust structure from the start, don’t wait to find a property and then set it up. If you are really serious about property – just do it!
It will save you havinge some properties in this name, and some in that name etc.. as your bookwork & taxation is made more complex.
I would also consider finding a better accountant & solicitor, and I would DEFINATELY sack the bank manager and find a professional Mortgage Broker. I would look up on of the ones on this forum!
Once you get your “team” working for you, it all falls into place easily!
Good luck,
Del [^]
Pisces,
YOU ARE RIGHT! [:o)]
One of the questions TODAY TONIGHT asked me in my interview, which wasn’t aired, was “what is the best thing that the MAP program has given you”?
My answer was “CONFIDENCE” – Confidence to believe in myself, and to deal with RE Agents etc.
Steve doesn’t stand up in front of the group. He did for the first one, but that’s it. Now, he and Dave speak for about 10 minutes at the start of the meeting, and we do the rest for the next 8 – 9 hours.
As you say, the MAP program is a great starting point for us all, to get off our butts and do something.
Cheers,
Del []Hi Steve,
Westan has had fantastic success in NZ (and in Victoria). He deserves a lot of respect and praise for getting out there and doing it. [:o)]
I have a few prop’s in Vic, and I have 8 prop’s in NZ so far, (19 tenants all up) and I will look for more soon in NZ.
I would recommend to anyone looking to invest in NZ to go there and check it out in person. It is different to Australia, one big thing is that NZ doesn’t generally use fixed term leases. Tenants seem to come and go as they please. This I found hard to come to grips with. Also the people ARE different, and have different values.
I think NZ is a great place, and is worthwhile to invest in, but do your research before buying in some smaller towns.
Also, consider the taxation issues and get some Quality advice. I’d only invest there if it was income that you wanted to grow and not to dip into all the time.
Regards,
Del [
]Hi Bron,
Thanks for your nice words…OK, speech time!!????
The two most valuable things that I’ve learned from the forum…um here goes – remember you asked for it! [
]1. People are at all different levels in their investing career, but they are all appreciative of a bit of moral support and encouragement. I never try to critisize others as it can really be taken personally. If I disagree, I TRY to see their point of view, and I often learn a lot more about a subject.
2. When I first joined the forum, I used to be frightened to post questions, or even answers, fearing that many would think that I was dumb, but now I know that there are no real dumb questions or answers. (except maybe where to find +ve cashflow properties.. ha ha)
Now, I make an effort to try to help the new members (not newbies).WOW, THAT WAS DEEP!!!!! [:p]
Del
Thanks SIS & Muppet,
But it took me one year and ONE DAY to to it!!
I could never talk as much as you guys…
Must be a boy thing. Oh, sorry Melbear…[
]Del [:p]
[
][:X][]Oh, now I’m blushing….
Thanks Westan and everyone,
Del
Oh,
Thanks everyone….[
]You’re too kind!
Have a wonderful day everyone.
Del [
]
]
]
]
