Total Members: 158,200

Simon Plummer

  • Simon Plummer‘s profile was updated 5 years, 3 months ago

  • Simon Plummer‘s profile was updated 6 years, 4 months ago

  • Simon Plummer changed their profile picture 6 years, 4 months ago

  • Plummer replied to the topic Does property have an asymmetric risk/reward profile? in the forum Opinionated! 9 years, 1 month ago

    Spot on :)

  • Plummer replied to the topic Good taxation lawyer abt foreign income in Nsw in the forum Legal & Accounting 9 years, 1 month ago

    I company by the name of SMATS do a lot of work with foreign income. Mainly non-resident expats living abroad.

  • Plummer replied to the topic Does property have an asymmetric risk/reward profile? in the forum Opinionated! 9 years, 1 month ago

    The All Ords is just an index and to beat it you could buy all shares bar a couple that have poor outlooks. Out performing the market can be done in share investing if you diversify less. This however increases risk or so the theory goes.

    According to the theory, buying a $300k property is going to be on the high end of the risk/reward scale. You…[Read more]

  • Plummer replied to the topic Hedging against interest rate rises in the forum Finance 9 years, 2 months ago

    30 years!! That’s crazy talk! :)

    That would definitely make life simpler.

  • Plummer replied to the topic Does property have an asymmetric risk/reward profile? in the forum Opinionated! 9 years, 3 months ago

    Thanks for your comment Andrew.

    This is generally the strategy used by billionaires like Carl Icahn, Warren Buffet, Jack Bogle, David Swensen etc. Albeit more sophisticated models but in essence a huge amount of diversification to optimise this risk/reward profile. This is also quite a common methodology in the US for individuals seeking…[Read more]

  • Plummer started the topic Does property have an asymmetric risk/reward profile? in the forum Opinionated! 9 years, 3 months ago

    I’ve been doing a bit of reading recently on strategies used to obtain financial freedom. Of particular interest is the stuff I’ve read on asset allocation and modern portfolio theory. So the theory goes that with any asset it will have a profile of reward relating to risk. The higher the risk, the higher the reward. Modern portfolio theory…[Read more]

  • Plummer replied to the topic Hedging against interest rate rises in the forum Finance 9 years, 3 months ago

    Thanks for your comment Redom.

    My investment horizon is a lot longer than the 5 or so years lenders will generally fix for. I guess I am more interested in a hedge which is not limited to a time frame like this.

  • Plummer started the topic Hedging against interest rate rises in the forum Finance 9 years, 3 months ago

    Most people who have LVR’s on the higher end of the spectrum are quite sensitive to interest rate rises from a cash flow perspective. A 2% rise on a $1m debt is an extra $20k per year of outgoings which can turn a balanced portfolio south in no time at all.

    To me it makes sense to hold a short position on a government bond at a level which…[Read more]

  • Plummer replied to the topic Business or PAYG Employment? in the forum Finance 9 years, 4 months ago

    Hi Richard,

    Quite interesting I must say. To complicate things a little more I have been a non-resident for the past two years while working overseas so this may hinder also. These things seem to stack up negatively and it becomes harder and harder to obtain finance.

    Good fun trying though!

  • Plummer replied to the topic Business or PAYG Employment? in the forum Finance 9 years, 4 months ago

    Thanks for your comments guys.

    I think it might be best to get some structuring advice on this one. Once we have a structure which protects both of our interests then I’ll be able to clearly see the options with regard to future finance.

    The majority of my wealth accumulation is coming from property so if the venture compromises this then it may…[Read more]

  • Plummer replied to the topic Business or PAYG Employment? in the forum Finance 9 years, 4 months ago

    Thanks for your comment Terry.

    Another option I thought of would be to buy in to my business partners entity (50% share) which will of course provide me with two years of tax returns.

    If this were to occur, would a lender consider 50% of the after tax profits to be my net income? Or is there a more complex way of calculating?

  • Plummer started the topic Business or PAYG Employment? in the forum Finance 9 years, 4 months ago

    Hi everyone,

    I am currently in PAYG employment however have a good opportunity to partner up with an existing business owner to run a business in my industry. The business is profitable and has been running over two years. This will likely give me higher income with room for further increases.

    Whilst I will obtain some advice, I envisage that…[Read more]

  • Plummer replied to the topic Tenants in Common in the forum Help Needed! 9 years, 4 months ago

    Do you already own the property?

    In NSW at least I’m pretty sure you need to pay stamp duty when making ownership changes like that which generally negates the benefits.

    This is declared at purchase time.

  • Plummer replied to the topic 0% startup and buying a cashflow property in the forum Finance 9 years, 4 months ago

    I used credit cards when starting out to get a foot in. Instead of cash advances though, I used them for most of my expenses so I could save my salary. I would then balance transfer it to another card. Then when that interest free period expired, I’d do another balance transfer. You can keep doing them until you run out of banks really.

    Although…[Read more]

  • Plummer replied to the topic Current Situation – Would like advice in the forum Help Needed! 9 years, 4 months ago

    Definitely sell the car.

    If you can sell your old car also and upgrade to one that suits your needs better for $5k, you’re going to be $45k better off and have a car that suits your needs. In 5 years time you’re going to end up with a not brand-new car anyway so you’d rather be $45k closer to financial freedom.

    Once sold, get rid of that $30k…[Read more]

  • Plummer replied to the topic Buying parents house in the forum Legal & Accounting 10 years ago

    Is your mum even going to be entitled to get the government pension?

    I don't know a huge amount about the criteria but I can only assume that someone with a $500k house/unit mortgage free, $2,000/month passive income for the next 20 years plus $500k in the bank isn't going to be entitled to a whole lot. If the $500k is earning 5% she'd be looking…[Read more]

  • Plummer replied to the topic Developing Strata Titled Property in the forum Help Needed! 10 years, 1 month ago

    A Strata Company (Body Corporate or Owners Corporation in other states) is just the collective of all the lot owners.  I'm not sure what the agent means by none exist. Perhaps he/she means there is no Strata Manager.

    You would definitely need majority (if not unanimous) agreement from the other lot owners to develop. This would need to be fully…[Read more]

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Simon Plummer

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