Hi Guys & Gals,

Thanks for your replies. I don’t mind paying tax because it means I am making money, however obviously I do like to minimise this wherever possible.

oh well…so be it!

Regards,

Tim Wilson.

Hi there,

Being that you are only relatively new to IP my suggestion would be that you do some further education before making more purchases. One of Steve’s courses or resources available on this web site would be a good start. This will come at little cost, and will ensure you feel confident about the direction in which you are heading.

You…[Read more]

Because not everyone can seperate their emotions from fact!
I mean heck, it’s the great Australian Dream to own your own home and since we don’t like waiting for things we go out and get ourselves a mill stone around our necks by the way of a mortgage.

Renting makes a lot of sense to me providing you save your money to pay cash for a house later…[Read more]

Thanks everyone for your responses. I appreciate it. I am still of two minds though.

Regards,

Tim.

Hi Pisces.

Thanks for your reply.
A Cattery is boarding for cats. The business is called The Cat Comfort Motel, and surprisingly is quite profitable.

I am unsure of the minimim land requirement for sub-dividing in Rural Zoning for this coucil; however I will endeavour to find out and get back to you.

Thanks for your time.

Regards,

Tim Wilson.

Hi Yack,

Thanks for that. All good points. The thing that gets me about that is the land in question is on the outskirts of a small town (Latrobe Tasmania), and not far from a major highway. I can’t see that it would be all that usefull for rural purposes anyway, not anything seriouse at least.

Anyone else have some wisdom to…[Read more]

Hi Still_in_school,

Not sure whether this will be of any further help to you but:

To be a mortgage consultant in Australia you need to be a member of MIAA (Mortgage Industry Associate of Australia) http://www.miaa.com.au. To apply as a member you need to have completed one of the pre-requisite courses which are listed on their web site.
A good one that…[Read more]

Hey great to hear you are coming to Tassie – more the merrier I say – word had to get out some time didn’t it[]

Tim

My feedback:

– Yes I have – to two.
– I thought it was fantastic
– Absolutely worth every sent I paid – I wouldn’t waste/spend your money elsewhere
– Yes, and much much more, in regards to what you get out of it, don’t forget this depends on what you are prepared to put in.

I would immagine you would need to seek taxation advice from your accountant. Not having done it myself I am not sure of the issues here – however I imagine there would be!

Regards,

Tim

I would immagine you would need to seek taxation advice from your accountant. Not having done it myself I am not sure of the issues here – however I imagine there would be!

Regards,

Tim

Now I know what they get up to at those Real Estate agent courses

Terry,

Normally yes. It depends on where this passive income is coming from. i.e. if it came from IP’s rented then the bank will accept up to 75% of this as income.
Not sure about other asset classes.

Regards,

Tim.

Hi Everyone,

I thought I might as well throw my hat in the ring as well

I am an IT consultant during the day, Lifestlye Planner at night and property investor in my spare time

Life is to short to be doing only one thing at any one time – so long as you are doing what you do well!

Enjoy your day.

Cheers

Tim Wilson

Hi Shane,

Yes, the numbers for Queenstown would stack up, but if you had been there you would probably understand why!
It’s an old mining town which is now more of a tourist destination now than anything else. i.e. stagnate if not declining population growth, and very little reason to live there.

I would suggest you should stick clear of…[Read more]

Hi Mitivated,

Yep I have to agree with Tas Investor on this one, at least from a long term view point.

While Devonport is (and will continue to in the short to medium term) experience some good growth in property prices there are other areas of the state out performing Devonport.
After some research I believe that has to do with a fundamental of…[Read more]

Hi David,

Good to see you are getting on board and educating yourself at such a young age – you won’t regret it!

While I am not in Hobart, I do operate in Tasmania based in Devonport. So feel free to drop me an email ([email protected]), or call me on 0429 655 630. I would be happy to have chat with you.

Regards,

Tim Wilson.

Hi Nick,

Yep, based on the advice I have also recieved you are right on the money, however I would urge caution. Is this something from an ethical standpoint you really want to be known as doing? You’re integrity is worth a lot more than $7000 – believe me!

Regards,

Tim Wilson.

“Poverty is not an option”

Quickly – in summary, yes it would make it look like a genuine offer and this is part of the reason.
The deposit will consist of part of the purchase price, you are correct in that assumption. Also be careful, as some RE agents will try and push you in to paying a higher deposit, mostly this is because they want thier money sooner. But maybe I am…[Read more]

Hi Terry,

Thanks for clearing that up.

I guess at the end of the day, so long as you ensure you (or your company) is able to service the loans addequately then I guess there is no reason for alarm.
Also we are finding that a vital aspect of this is to develop a close relationship with a financier – almost a “I’ll scratch your back if you scratch…[Read more]