Forum Replies Created

Viewing 20 posts - 101 through 120 (of 382 total)
  • Profile photo of Luke TaylorLuke Taylor
    Participant
    @world-changer
    Join Date: 2005
    Post Count: 415

    Ok thanks alot !

    Do you know if i can  declare the price received for the property (after rebate)at  tax time
     or will i be liable for the front page contract price?
    Im just not keen to pay tax on a figure that i didnt actually receive for the property .

    In yr experience will the bank still lend on the higher price when finding out a rebate will be given on settlement?

    Luke Taylor | Hope Property Investing
    http://hopepropertyinvesting.com
    Email Me

    Property Support,Strategist and Buyers Agent

    Profile photo of Luke TaylorLuke Taylor
    Participant
    @world-changer
    Join Date: 2005
    Post Count: 415

    Hi Terry,

    I didnt know it was classed as a rebate.
     The idea of the price reduction is so the buyer can borrow more
    due to the bank lending on the (higher) front page contract price.
    Then we give a reduction on settlement if settled by a certain date (written on the contract.)

    What are you saying by you must take this into acct?

    thanks man

    Luke

    Luke Taylor | Hope Property Investing
    http://hopepropertyinvesting.com
    Email Me

    Property Support,Strategist and Buyers Agent

    Profile photo of Luke TaylorLuke Taylor
    Participant
    @world-changer
    Join Date: 2005
    Post Count: 415

    Hi Mel,

    well done !
    you must be pretty excited hey !!
    I read yr story and like how you didnt rush into the market but strategised first.
    Keep up the good work!

    Luke Taylor | Hope Property Investing
    http://hopepropertyinvesting.com
    Email Me

    Property Support,Strategist and Buyers Agent

    Profile photo of Luke TaylorLuke Taylor
    Participant
    @world-changer
    Join Date: 2005
    Post Count: 415

    hi guys,
    I was recently recommended a product lately which ive since used.
    Its called Zinzer and theres 3 different types but basically what it does is cover anything and can be painted strajght over(including missed grease spots,stains etc)
    .it then gives an awesome glossy finish on the top coat and you dont need to remove all the old paints.

    anyway worth a thought anyway

    Kind regards

    Luke Taylor | Hope Property Investing
    http://hopepropertyinvesting.com
    Email Me

    Property Support,Strategist and Buyers Agent

    Profile photo of Luke TaylorLuke Taylor
    Participant
    @world-changer
    Join Date: 2005
    Post Count: 415

    Hi JL,

    in my experience once a tenant gets behind it is near impossible to get them back up.Especially if they have rented yr house only weeks before stopping paying .
    I have just had this problem and was trying to work with the tenants feeling for them as they were giving me stories that they will catch up etc etc,
    eventually i found out they had no intention to pay the rent and i had to take them to court.Some tenants know the law and use it for every house they rent so they never pay rent.(this may not be the case in yr situation but just be aware.
    At the end i got them out after paying $1600 of the $7K owed and they trashed my house for good measure on leaving.At the end of the day also ,the real estaet agents dont take any responsibility ,thats why yr better off controlling it yrself.

    I would evict them and manage it yr self.Even advertise locally for a tenant,travel there and choose a tenant yrself,
    then set up a direct debit into yr account.
    or what i am now doing with centrlink tenants is get it paid staright from the gov into yr account.

    kind regards

    Luke Taylor | Hope Property Investing
    http://hopepropertyinvesting.com
    Email Me

    Property Support,Strategist and Buyers Agent

    Profile photo of Luke TaylorLuke Taylor
    Participant
    @world-changer
    Join Date: 2005
    Post Count: 415

    Hey guys,
    ha ha Bardon man you feel like employing someone like that to manage people definately . very funny.

    In fairness though we did end up finding a few guys with integrity ,over there eventually ,
    but after dealing with issues and losses for around 30 months straight and having ongoing issues still it gives you a bit of a shift in thinking.

         Ive learnt thought that losses in business are the best lesson to take you to the next level in yr business and investing.I found it
    takes away a bit of the cockiness, or i guess complacency, that can come after being very successful for a long period,in my experience anyway.

            It reminds you that its not as easy as you think ,its just youve got used to what you do and forgotten to appreciate yr abilities and being successful at it .
            This is not in everyones case of course ,and some of what happened over there to many people was because of deception from people in the industry and some stretched truths to be honest ,
      but  even some of the agents/ sellers that were onselling /birddogging got caught out as well i know that for a fact .
        Of course this doesnt excuse what some agents/sellers did, but it just reminds you that before you part with any money for a service ,or whatever ,you have got to be careful and check 2 or 3 times what the people are telling you and what they re being told first .
          
         But  there is also ,unfortunately  ,many people out their (especially in the real estate industry) that are looking for quick profit before integrity so be careful.
    So, unfortunately , sometimes it doesnt always prevent losses, even if you dotted every i and crossed every t  thoroughly,

         This, i found is much more common when yr dealing into another country as it seems that ocean in the middle can give an idea that yr not close enough to follow up and check things,which is partly true.

    delt i hope you didnt lose all yr funds man ,really feel for you , but dont feel bad as alot of people have given it a go from Oz to overseas and taken big losses and learnt even bigger lesons from it,even some of the local " Guru's"

    all the best guys and gals !

    Luke Taylor | Hope Property Investing
    http://hopepropertyinvesting.com
    Email Me

    Property Support,Strategist and Buyers Agent

    Profile photo of Luke TaylorLuke Taylor
    Participant
    @world-changer
    Join Date: 2005
    Post Count: 415

    Mate ,
    another option may be just mortgage it out to the max ,thus reducing the risk of someone sueing you for the equity(low equity makes it a waste of time to take legal action agaainst it) then continue regularly drawing down on the equity keeeping it low)
    Then use the equity drawn from the property to start a fresh buying in yr trust,thus getting the best of both worlds.

    Luke Taylor | Hope Property Investing
    http://hopepropertyinvesting.com
    Email Me

    Property Support,Strategist and Buyers Agent

    Profile photo of Luke TaylorLuke Taylor
    Participant
    @world-changer
    Join Date: 2005
    Post Count: 415

    Hey guys ,
    hope yr well !

    ha ha far out Bardon ,i miss you man ha ha Thats a classic.

    a few things i'd add would be

    let yr house out for long periods to people who dont believe they should pay you any rent ,as its their "right"not too

    pay an agent 20% of the price of yr house to sell it ,   i mean" shift it "as cheap as possible

    pay an accountant to do yr tax returns both franchise tax for the government and normal returns .,the pay an aussie one as well for yr home stuff

    get yr house insured with a reputable company who later tells you when you try claim yr house wasnt covered when it was vacant

    Find people you think you can trust ,then try them out for 6 months whilst losing svereal thousand dollars each time ,then repeat the process trying to find new people you can trust ,see how confidant you are investing from overseas after trying a few different "proffessionals:".

    when emailing ,wait till youve sent  at least 4 to 10 messages before expecting any reply,then when you receive it ,dont trust the answers to yr questions.

    Then if yr only resort left is to go over and sort it out yrself,expect tp pay $5K up wards for 2 or 3 weeks stay by the time you add up the costs.Then have some more money ready to get yr property issues sorted out.

    Guys at the end of the day there is some good opportuities in the usa now,but to try and make it work from another country is
    not realistic.
    If your heart is to make some money out of the market ,go and live their and do it for a few years then come back .
    thats my recomendation.
    I personally gave it a big shot  ,managing the investing from australia ,but it is heartbreaking.
    These few things that Bardon and i have mentioned are only probably 30% of the problems over there.
    I have experienced most of them and alot lot more ,and i take full responsibility for my part and giving it a go,
     but please just take it as a warning , 
    go for  property deals over there but do it yrself on the ground while living there full time.,otherwise run with the abundant opportunities in OZ at the moment.

    Kind regards

    Luke Taylor | Hope Property Investing
    http://hopepropertyinvesting.com
    Email Me

    Property Support,Strategist and Buyers Agent

    Profile photo of Luke TaylorLuke Taylor
    Participant
    @world-changer
    Join Date: 2005
    Post Count: 415

    Hi Mocacam,
    after investing in the US for a while now i have a different opinion for you.
    Investing in the states is not easy ,especially being so far away!
    There are issues of the exchange rate(can go up or down anytime risking losses ,) getting good trustworthy people to look after yr properties,getting integral trademen etc etc etc.
    So there are alot of pitfalls,
    But,
     if your totally keen and want to give it a go over there ,I would recommend you first buy something in yr own name and just get a good public liability policy (an extra 1k ish per year to the normal 100k limit policys they give you on a single family)and give it 12 months before you go any further.
    This way you have lower yr risks if its not for you and y'll get a better idea of actually what its like trying to run things from another country. Also yll get finance alot easier too.
    Then ,if its for you and yr happy to go further ,set up an LLC or the like and transfer the property into the LLC.This costs about $700 to set up and about $200 to transfer the property into it.

    all the best
    kind regards
    luke

    Luke Taylor | Hope Property Investing
    http://hopepropertyinvesting.com
    Email Me

    Property Support,Strategist and Buyers Agent

    Profile photo of Luke TaylorLuke Taylor
    Participant
    @world-changer
    Join Date: 2005
    Post Count: 415

    Hi Corey,

    hope yr well man !

    I spoke to Chad recently ,he is doing well .He has been really good to me actually helping me out with some great connections in San Antonio .

    I hope you and yr wifey have had success with yr property since sorting things out over there man.

    kind regards

    Luke 

    Luke Taylor | Hope Property Investing
    http://hopepropertyinvesting.com
    Email Me

    Property Support,Strategist and Buyers Agent

    Profile photo of Luke TaylorLuke Taylor
    Participant
    @world-changer
    Join Date: 2005
    Post Count: 415

             I am really surprised people have forgotton so quickly ,only 6 months on from, labours constant  ongoing displays of fighting and disunity  ,all from within their own ranks, now we have voted them in to run the country.
                  This country is the best it has been for years under Johnny and Peter ,s phenominal leadership,and the huge surplus we have now!!
        I just hope Rudd doesnt spend the countrys hard earned savings fund like he  announced he was going to ,spending 50% of it straight away on schools and hospitals he reckons.

    Luke Taylor | Hope Property Investing
    http://hopepropertyinvesting.com
    Email Me

    Property Support,Strategist and Buyers Agent

    Profile photo of Luke TaylorLuke Taylor
    Participant
    @world-changer
    Join Date: 2005
    Post Count: 415

    Hi Tarik,
    How much? I dont know .How much do you want it ?
    I think steves sells them for $390 odd?
    I guess flick me $290 and illl post it out to you.
    it is as new by the way.

    kind regards
    Luke

    Luke Taylor | Hope Property Investing
    http://hopepropertyinvesting.com
    Email Me

    Property Support,Strategist and Buyers Agent

    Profile photo of Luke TaylorLuke Taylor
    Participant
    @world-changer
    Join Date: 2005
    Post Count: 415

    I would defiantely go and talk to the tenant and see where he is headed in the future,.as he may be planning to go with family soon you never know,or if encouraged that the rent needs to go up due to yr new expenses with the bank(explaining you are paying more for the property than the current owner, due to the market increase so you need more rent to pay for it),ie not yr fault),he may look for other (probably quite acceptable for him) options for living .
    Or work something out with the tenant that he pays an extra $10 to $15 per week ,and manage the property yrself saving on agents commission but explain to the tennat he needs to look aftre the property aotherwise the increase will have to cut in fully. or:
     just bless the guy taking this off yr profit for the next few years hes alive if its on yr heart to go this way
    .Once talking to the seller and the tennant you will be able to weigh it all up ,including what price you can negotiate the deal for,you will know which way to go.

    Luke Taylor | Hope Property Investing
    http://hopepropertyinvesting.com
    Email Me

    Property Support,Strategist and Buyers Agent

    Profile photo of Luke TaylorLuke Taylor
    Participant
    @world-changer
    Join Date: 2005
    Post Count: 415

    Hi Eller,

    welcome !

    Take yr time in deciding what and where yr going to buy,there is nothing to be anxious about.There are always deals out there.

    but in saying this once yve made yr decision step out and do it .

    Queeny and adelaide are both great areas to invest in. I like SE queensland due to growth rates but Adelaide have got some lower priced deals still available and heaps of room for development too.
    I would suggest you go and check out the areas yr interested in on the ground and have a snoop around ,see what takes yr fancy for yr first and then buy in the other area as well on yr second if you want to diversify later.

    Luke Taylor | Hope Property Investing
    http://hopepropertyinvesting.com
    Email Me

    Property Support,Strategist and Buyers Agent

    Profile photo of Luke TaylorLuke Taylor
    Participant
    @world-changer
    Join Date: 2005
    Post Count: 415

    Great work man!

    Are they giving you a fixed price on the dwellings?
    It would be interesting to see the figures if possible .

    Luke Taylor | Hope Property Investing
    http://hopepropertyinvesting.com
    Email Me

    Property Support,Strategist and Buyers Agent

    Profile photo of Luke TaylorLuke Taylor
    Participant
    @world-changer
    Join Date: 2005
    Post Count: 415

    Hi Frosty,
    mate the way i see it is you can get them done for under a grand including a trustee company.
    But,at the end of the day you are using it for assett protection and negative gearing with property investing, so you really want to pay someone whatever it costs (up to $2500) to make sure the trust deed is going to stand up to any discrepancies you may have down the track. 
            For example you may get sued or the ato may have a problem with you claiming certain things if not written correctly for yr circumstances. I personally used Dale gatherum Goss( who uses a macquarie bank deed) as he is connected with Chris Batten who has high connections with the ato.So when issues arise you are kept in the loop and Dale even offered to rectify any changes needed in the deed if the situation arises.(for ex,currently there is a situation going through the ato with a discrepcancy)

    Luke Taylor | Hope Property Investing
    http://hopepropertyinvesting.com
    Email Me

    Property Support,Strategist and Buyers Agent

    Profile photo of Luke TaylorLuke Taylor
    Participant
    @world-changer
    Join Date: 2005
    Post Count: 415

    That would be a great idea Emma !

    I would ask him to take a pen and paper and write everything down he sees. Including any visible issues with the house,
    tenants, surrounding properties,etc etc.Look hard for reasons you wouldnt buy the house.,incl any possible issues that may arise down the track. Have yr buiding inspections,valuations,market opinions and RE agents done while hes there if possible.
    give him a list of questions to ask all yr inspectors .Also get him to go local and talk to the locals .Maybe evn place an ad in the local paper telling people you are a lady looking for a house.

    You never know he might end up finding a beeter deal while being there on the ground .Things always look very different when yr there physically.

    All the best with it !

    Luke Taylor | Hope Property Investing
    http://hopepropertyinvesting.com
    Email Me

    Property Support,Strategist and Buyers Agent

    Profile photo of Luke TaylorLuke Taylor
    Participant
    @world-changer
    Join Date: 2005
    Post Count: 415

    Hi Mate,
    i have  a copy of the wealth gaurdian  kit .I may consider selling it if you are interested.
    Send me a PM,

    kind regards
    Luke

    Luke Taylor | Hope Property Investing
    http://hopepropertyinvesting.com
    Email Me

    Property Support,Strategist and Buyers Agent

    Profile photo of Luke TaylorLuke Taylor
    Participant
    @world-changer
    Join Date: 2005
    Post Count: 415

    Mate ,i would be very careful buying a property sight unseen.

    I have done it before and regretted it.
     There is always little things that you miss,which you would have seen if you were there physically.
    Make the investment ,travel and go look at the property yrself,you wont regret it!!

    Of course get building inspectors etc etc to look at it but how well do you know them? Can you fully trust their work?
    Get many different opinions.
    also how well do you know the area? values etc?
    These are things you need to consider when spending yr hard earned , and the banks money .

    Luke Taylor | Hope Property Investing
    http://hopepropertyinvesting.com
    Email Me

    Property Support,Strategist and Buyers Agent

    Profile photo of Luke TaylorLuke Taylor
    Participant
    @world-changer
    Join Date: 2005
    Post Count: 415

    Hi Dave,thanks alot man ,
    Ha Ha the buffalo thing Its definately very tempting  man!! ha ha love it !!

    Luke Taylor | Hope Property Investing
    http://hopepropertyinvesting.com
    Email Me

    Property Support,Strategist and Buyers Agent

Viewing 20 posts - 101 through 120 (of 382 total)