Fun;

Just a query to get you thinking…you asked if you can get a local investment partner?

I am just wondering what you are looking for and what you hope to gain from a joint venture? Both financially and (for want of another word)‘educationally’??[]

Simply – market yourself !!! Why would someone want to JV with you???

Pete

…Beware of the…[Read more]

I have to agree….

I also went to last years event and have to say that this one was much more refined and I got a lot more out of it – maybe having the educational base from last event has contributed to this – but none the less sensational weekemd….Well Done Guys (Bradley McKnight Crew)

Hope everyone got as much out of it as i…[Read more]

This is a tricky one.

However,if you have 1 property, you are more then allowed to claim as much as you want.

You will have more chance claiming richdad then robbins, as there is no direct nexus with robbins motivation and income producing.

…Beware of the dreamtakers…

As far as I am aware (but am really not too sure), that the buyer you are on-selling it to takes title or goes under contract on your original settlement date.

Unless you have put an “and/or nominee” clause into your original contract, then I think, the new purchaser can just assume the original contract.

Someone might now better…[Read more]

Basically, if you can prove that you are in the business of trading properties and class the properties as ‘trading stock’ then yes no CGT would be payable as the houses would be classed similar to any item such as a toothbrush at a supermarket.

Unfortunately, it ain’t that simple because you must pay GST on the properties, get taxed on all the…[Read more]

Just so there is no confusion I think Michael may have made a math error – [?][]

quote:So, a property advertised as $130,000 returing $170pw, would have a yield of 150*52/130,000=0.068 (6.8%).

At a rental of $170pw the calcualtion would be
170*52/130,000
The yield works out right, so just a typo…

Pete.

p.s. didnt mean to correct you Michael,…[Read more]

Basically the law states that you can deduct from your assessable income any loss or outgoing..:
– that is incurred in gaining or producing your assessable income

It looks like in your case as you have not settled this property this financial year and thus no assessable income has been ‘gained’ therefor no deductions will be allowed…

However…[Read more]

Another thing…

About 5 or so years ago the then CEO of General Motors – one of the biggest companies in the world said (something along the lines of):

“WE ARE NOT IN THE MOTOR VEHICLE INDUSTRY, WE ARE IN THE LENDING AND FINANCE INDUSTY”

If one of the most successful companies in the world believe that they make there profit from doing…[Read more]

Doing a lease/option like any other investment opportunity is not about the property (or stock) itself its about the cash on cash return…

quote:Andrew secures a 3 bedroom property on a large block just outside of Geelong (Victoria) for $80,000. The property was purchased vacant but previously rented for $170 per week.

Andrew ran a classified…

[Read more]

In my opinion the premium charged is simply up to the vendor/invesor..

Some people might work off a formula – if any of you are out there please enlighten us…

…Beware of the dreamtakers…

quentin is spot on the money, however…

One thing that you must keep in mind when giving excessive gifts to employees is the issue of Fringe Benefits Tax, which is payable by the employer on excessive ‘gifts’ which are possible replacements for salary…

Pete

…Beware of the dreamtakers…

Congrats….you seem to be heading in the right direction..

But, did you have a question??

…Beware of the dreamtakers…

Kind off the topic but thinking from a different angle, not the $$$ view..

Ever thought about offernig the $$ the vendor is after (even slightly more then you could get it for) but trying to win on the terms of the deal…

Such as
– longer settlements
– early entry to property (prior to settlement for renovations)
– Them ‘fixing’ aspects of the…[Read more]

Also I was wondering what ‘home study’ / ‘take home’ materials accompany the camp.

Cheers
Pete

…Beware of the dreamtakers…

Polaris,

Ok, well in your senario I don’t think i can help much,as I am only aware of L/O in investmetns terms. I have no experience or knowledge when the property being Lease/Optioned is the primary place of residence…

Lets hope someone else can shine some light….You have me interested..

Pete

…Beware of the dreamtakers…

In regard to what the property owner gets as a kick back from writing a lease/option. It is often the case where the option premium is greater then the 1k you suggested and around the 3-5 thou range. Also it is common to make the strike price (purchase price for leasee) around 10 – 20 % higher then the investors purchase price, thus giving 2 forms…[Read more]

Enlighten me on why you would want to do this?
I am not sure what you are trying to achieve.

Cheers
Pete

…Beware of the dreamtakers…

Check out:
http://sites.ninemsn.com.au/minisite/property/services/propertyqa/default.asp

Again it is Steve, but this is his points/views etc….

…Beware of the dreamtakers…

Check out some other posts such as
https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=1359
https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=1172
https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=1217

They deal with the costs/benefits a bit…

Pete

…Beware of the dreamtakers…

Just briefly the set-up costs of setting up a company are around $1000 plus accounting fees. There is also the ongoing fees associated with companies as they have to loge tax returns annually which are around $550 (all costs depend on acocunt)

In regard to TAX reductions, you sure can. That is one of the biggest benefits of having a company. As…[Read more]