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Yarra
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@yarra
Join Date: 2001
Post Count: 20
June 29, 2003 - 8:17 am
Many seminars are worthwhile especially considering that just one idea can save or make thousands when investing large sums of money. Although it would be more pallatable if the cost could be realistic. Check this out for value! http://www.success.com/dtl.php?GetProduct=5466&offer=546942
Unfortunately some seminar presenters promote “get rich quick” so they can through selling seats.
Yarra
Participant
@yarra
Join Date: 2001
Post Count: 20
June 21, 2003 - 2:11 pm
Is the annual rental income derived from the rent paid to you by the lessee operating the business or from the B&B income? What length lease is with the property?
Yarra
Participant
@yarra
Join Date: 2001
Post Count: 20
June 19, 2003 - 9:42 pm
Hi Fred
Email me your details & I’ll get back to you
Martin
Yarra
Participant
@yarra
Join Date: 2001
Post Count: 20
June 19, 2003 - 9:36 am
HEY GUYS!!!
I thought this forum was full of action takers & opportunists
I havent received even one request yet
Dianne, I also attended a one day event where all the speakers were selling something. Wright thurston III was selling his retreats among other things so they must have at least a little value especially for free.
Anyhow, the competition has changed. I’ll give the free ticket to the first person to contact me.
“Seize the Day”
Yarra
Participant
@yarra
Join Date: 2001
Post Count: 20
June 18, 2003 - 10:08 am
Contact a town planner (look in the yellow pages) & pay the approx $1500 for a feasability study to determine your options & likely outcomes. You may find that once approval & plans are drawn up you could sell your property for far in excess of the costs to do so
Yarra
Participant
@yarra
Join Date: 2001
Post Count: 20
June 17, 2003 - 12:43 am
I have a fantastic solicitor who is 100% professional, has extremely reasonable rates and has offices above his jazz bar in a trendy CBD lane where you can drink wine or latte’s during consultations.
Last year when my finaance fell through while dealing with an “Investment” finance broker my solicitor helped arrange finance through another broker and they pulled out all stops to get settlement through. Even though a recision notice was issued & I paid penalty interest all parties won. Im sure it would have been a total disaster if I had a conveyancer.
If you are purchasing for investment solicitors are more likely to have the resources needed & its tax deductible, but find a good one
Yarra
Participant
@yarra
Join Date: 2001
Post Count: 20
June 16, 2003 - 10:41 am
Just a tip
Before you take out any insurance check the inclusions (and the exclusions) not all insurance is the same. It is a good idea to compare what you are paying for.
I use an insurance broker, tell him what I need and he then hunts for the best deal which may change each year
I’ve just had a thought. if anyone is about to take out insurance & they are going to see a broker if they mention that they may could bring LOTS of business their way (through this forum) the broker may be able to do a deal with one of the insurance companies.
My B&B in Daylesford is covered by such a group policy but they wouldn’t let me insure other IP’s as they were under a different category
Yarra
Participant
@yarra
Join Date: 2001
Post Count: 20
June 16, 2003 - 6:43 am
Hi
Real estate agents will do this particularly in resort type areas. In Daylesford there are 3 booking agencys that specialise in just holiday & weekend bookings. The Dandenongs near Melbourne also have similar.
This will only work where there is a huge demand for weekend rentals.
It works in seaside areas as well where the high rents compensate for lack of bookings in winter, however you would have to already own an IP as prices are now too high
Yarra
Participant
@yarra
Join Date: 2001
Post Count: 20
June 15, 2003 - 11:58 pm
I forgot to give it a free plug. its:
http://www.zelmancottage.com
It will also give you hints at the things you need to do to keep the bookings going
Yarra
Participant
@yarra
Join Date: 2001
Post Count: 20
June 15, 2003 - 11:16 pm
A good alternative (for me anyway) is a pocket PC or palm pilot.
I have loaded an excel spreadsheet in so all one has to do is enter the numbers.
I am pretty sure that there are also programs available. I had one that kept details of purchase price, outgoings, income, inventory etc but it didnt give cashflow analysis.
Yarra
Participant
@yarra
Join Date: 2001
Post Count: 20
June 15, 2003 - 11:10 pm
Hi
An alternative to the B&B is a self contained cottage.
We have one in Daylesford (Victoria)and it is managed by an agency. Fees are 15%! however for their money they take all bookings, arrange cleaning, repairs, maintenance and deposit money in our account monthly followed by a report.
It does achieve +ve cashflow but prices around there have doubled in recent years so it would be more difficult to achieve.
The trick is to make your cottage fun and romantic so you achieve higher rents & more consistant bookings. The side benefits are that you can use it for yourself (off season of course)
Hope that helps[]
Yarra
Participant
@yarra
Join Date: 2001
Post Count: 20
June 13, 2003 - 11:21 am
It has been reported that due to the oversupply of inner city apartments many new projects not started have been put on hold until demand catches up.
Therfore once demand does catch up these projects will begin again thus ensuring that real capital gain in city apartments will be years away.
Yarra
Participant
@yarra
Join Date: 2001
Post Count: 20
June 11, 2003 - 10:51 am
Hi Lizzie
Dont always take what an agent tells you at face value. Even though he may sound very nice he may have an ulterior motive. Pass the reasons by the forum and I’m sure they will come up with creative ideas to make the purchase of your property worthwhile. e.g. it may not be a good renter but you may be able to renovate & sell to help springboard you onto a better property
Good Luck
Yarra
Participant
@yarra
Join Date: 2001
Post Count: 20
June 9, 2003 - 7:13 am
The “free” simulator is even funnier. Send them your name, address, how much you earn, etc. and they then say thank you for your submission! What a great mailing list that will make
Yarra
Participant
@yarra
Join Date: 2001
Post Count: 20
June 7, 2003 - 10:01 am
Hi Leigh
I meant CGT but Im sure ATO would charge FBT if they could[]
Yarra
Yarra
Participant
@yarra
Join Date: 2001
Post Count: 20
June 7, 2003 - 8:15 am
Leigh
I’m no accountant but if you sold your PPOR to your trust wouldn’t you have to pay stamp duty plus FBT if you decided to sell which ordinarily would be exempt?[?]
Yarra
Participant
@yarra
Join Date: 2001
Post Count: 20
June 4, 2003 - 11:18 am
Fun
These guys have been featured in an expose on 4 Corners recently. They teach you at your (great) expense how to invest in their own developments which they sell to you at a huge discount (after inflating the price by an equal amount and then some).
Save your money and invest in some of the products available on this website and educate yourself by reading a wide range of books with different viewpoints.
Good Luck
Yarra
Yarra
Participant
@yarra
Join Date: 2001
Post Count: 20
June 4, 2003 - 10:42 am
Hi Steve
The game went a long way in helping overcome a number of fears in just getting out there and doing it. Roleplay is a wonderful way of experiencing life in safety.
Can I make a suggestion that someone (I would volunteer but at the moment I am working 16 hour days)organise game nights where participants can hone their skills and develop new ones? (Brent did a wonderful job of Cashflow parties)
Anyway maybe others have thoughts on this?
Cheers
Martin
Yarra
Participant
@yarra
Join Date: 2001
Post Count: 20
June 4, 2003 - 10:21 am
Thanks guys
just to let you know I picked up my copy[]
Yarra
Participant
@yarra
Join Date: 2001
Post Count: 20
June 2, 2003 - 4:19 am
Hi All
My Journal
Sunday 1 June 2003
Dear Diary,
What an awesome weekend I have had. So much information gleened from an incredible seminar I attended at Albert Park. I hope the excitement & enthusiasm of this event won’t leave me for a couple of weeks, or until I’ve made at least one real estate deal which will then provide the momentum to keep going.
I’ve already begun looking for potential deals on http://www.realestate.com.au. It really is too easy so I’m sure it won’t be long before my portfolio is looking like Steve & Daves.
Well weariness is starting to creep up, must be off to bed