On simple face value they seem to meet the ’11 second solution’…so good job. It sounds promising….

Pete

P.S. If you dont take them up let me know (shoot me an email) and I might be able to do something with them and get you a finders fee – []

…Beware of the dreamtakers…

I cant really answer your question but I can offer a similar project Real Estate Guru Dolf deRoos, a RichDad Advisor, is backing/organising in NZ

http://www.propertyventures.co.nz/

I know it doesnt really help you Gatebe7 but it is another similar avenue people can look into..

Pete.

One more idea….

Try ‘Concise Corporations Law’ by Julie Cassidy

She was my lecturer at Deakin Uni and is sensational. Again its more aimed at students but covers everything from formation to directors duties to other entities etc.

It is published by The Federation Press (www.federationpress.com.au)

Another idea is if you can get to a…[Read more]

Try http://www.butterworths.com.au

They are legal book publishers and produce some great resources…they are more aimed at students but nonetheless they are good and informative.

Pete

Hi getting there –

Is it a real estate related product?

I second TheENJOLady’s comment…Its a great resource Steve and Co.

If I had it during UNI it would have made my TAX LAW subjests a hell of a lot easier…

Pete

Ok…its a little early here so my brain isn’t at full capacity…

But I am a little confused by

quote:is the CGT the same in a trust within a company ?

Are you saying the trust is the beneficiary?
In this case no, as the profits are taxed at their level and they are not entitled to a 50%discount. However if another beneficiary was an…[Read more]

One other tax benefit i forgot to add was CGT.

As the trust profits are distributed, the
a CGT discount is also avaliable. That is, if the asset is owned for more then 12months a 50% discount of that profit is allowed.

Where as Pty Ltd’s are not entitled to any CGT discount…

Cheers
Pete

Just to start the creative juices flowing….

One benefit of owning income producing assets in a trust is the TAX advantage, in that all income is passed on the the trusts beneficiaries and then taxed at there marginal tax rates. Whereas all income a Pty Ltd makes is taxed at 30%.

Pete

I actually have no idea if this would legally work and the concequences of it but wouldn’t it be possible to put a “and/or nominee” clause into the original purchase contract and then get them to simply assume the contract for your purchase price and just give to the difference as a kind of finders fee???

Pete

Mu understanding is that all you would need to do is get a solicitor to write up a 2nd mortage contract.

Carleton Sheets – a US ‘guru’ talks alot about this is his programs….
http://www.nodownpayment.com

Pete

Well, firstly congrats on getting your feet wet. Did you actually have a question or query?

Anyway, did you get a rental guarantee from the developers to confirm the $270/300 rent level?

Either way, congrats..

Pete

Ok as far as I am aware, although this is an extremely common practice in the USA its a lot harder to complete here.

My understanding is that Aussie Banks don’t have what they call fully assumable loans here, that is there a clause in the loan contract which states that the loan cannot be assumed by another person. so basically the only thing you…[Read more]

I am having trouble wording this response..so please bare with my jumbled reply….

The tax department look at the issue from a physical time standpoint rather then a tax period standpoint. That is you must be physically be receiving assessable income from the asset (IP) prior to being eligible for deductions.

Basically, all costs incurred prior…[Read more]

PAYDAY rocks….that simple.

I actualy started playing that before I ever played Monopoly…I had the kids verision and really enjoyed playing it with my parents when I was young. Good education base…

Pete

TerryW

Good point…I would have to agree with you on that one.I can’t see why this would not be allowed…

Pete

Hey Andrew,

I was there today too, actually as a volunteer staff member…even though i wasn’t able to hear Roberts entire presentation, as usual I found it inspiring..

Your thoughts? Enjoy yuorself?

Pete

Something to keep in mind is that you can definetly claim the costs of inspecting properties you are currently recieving taxable income from.

However you can’t claim the expenses for properties you are not currently claiming taxable income from, such as posisble purchases or going to renovate the property..

Also O/S trips are also definetly…[Read more]

Hi

In reply to your question

quote:Now, if it’s not too much to ask – how can I add maximum value for minimum cost????

There a number of simple things you can do to maximise value in terms of increasnig rents which will hopefully drop your weekly out of pocket expenses.

Things like give the tents a ‘free’ fridge or dvd player but increase their…[Read more]

Are you referring to buying a property by ‘assuming’ the current loan?

Pete