Forum Replies Created
Sorry David,
I was trying to see where these costs would be accounted for in the case studies that were given to us at the course.
Thanks and regards
4wallsHi there,
Given the case studies from the seminar. Would one assume buyer’s agents fees to be worked into closing costs?
regards
4wallsHi Cookie,
Thanks heaps.
regards
4wallsHi Ksheather,
We are considering setting up something offshore at the moment. We have an appointment tomorrow with the trust guy…..He mentioned something about there being no need for a BVI Trust and just setting up a straight BVI. Also if the directors are Australian citizens then there should be no issues with FIRB.
regards
4wallsjulia b, well done.
I have 3 names of buyer’s advocates.
1. buyer’s advocate at spring hill
2. buyer’s agent at stone’s corner
3. property research at redhillAnyone have any thing to say about these guys or recommend someone they have dealt with please.
thanks and regards
4walls
Tiffany,
Well done. Would be interested to hear what your customised terms and conditions are. You can email me at [email protected]
Please pardon my ignorance if this is something I am not supposed to ask.
regards
4wallsHi Cookie,
I too would like some feedback on this topic. I remember reading that Sooshie said using a Buyer’s Agent was for the passive investor. I can vaguely remember Steve saying that this was giving up control. So, how do we keep control and be non-passive. Do the research so you will be stipulating location, type of dwelling, purchase price to the buyer’s advocate. Am I missing something. Is this classed as non-passive action? Here comes a stupid question…..at what point do you factor in buyer’s advocate costs…..purchase price or against future rental income. I guessing the first one?????
regards
4wallsHi there,
Did you manage to find an answer to your question “capitalizing stamp duty”?
I emailed my accountant, who came back with this answer.
You cant claim depreciation on Stamp duty. Stamp duty forms part of the cost base of the property.
Which was outlined by Michael & Kaye.
regards
4walls
Hi Tiffany, Danielle here. Honour to meet you and Brett at the seminar. Tiffany, 3 kids and 1 on the way, your a champion!!!!. I’m rooting for you on being chosen for the mentoring programme. You guys sure stand out as exceptional. Keep it up, and may your hard work pay off infinitely.
best regards
4wallsExcellent!!! Wishing you much success…
love to see a flyer too please.
regards
4wallsHi Essykay,
We are currently going through the same tough decisions!
I don’t know if you have a chance to attend Steve McKnight’s seminar in Melbourne over the weekend. It was fantastic to see people from all walks of life just going for it and making it work.
I’m thinking, that the net below our trapeze can sometimes be our undoing!!!!!
Would love to know what you decided.
Please email me at
[email protected]regards
4wallsHi there,
Excellent weekend!!!!
Hubby picked me up from the airport in Singapore
at 6.30am this morning. I dropped him off and went home to see the children – took my daughter to school. Then came home and called a new real estate agent in QLD to help us solve our vacancy problem.My husband says I’m on fire….!!!!!!!
I think he will call me several times today just to make sure it really is me who came back!!!!!I would like to say a big thanks to the presenters for their selfless flow of information.
This act alone was priceless.
regards
4walls
TheEnjolLady,
Yes, don’t mean to sound like a pompous git. I now recall a conversation I had with a realestate agent around3 years ago. A major high profile corporation had rented a house for one of its executives. He had had a major party and done some real nasty damage to the house. The rent wasn’t cheap.
I guess I just got the wrong impression from reading “renters from hell”.
No offence was meant if anyone was reading my post please.
Anyway would still love input on this argument in the fors and against. Lets delete the comment about renters of cheaper properties and their behaviour. After all, we too were once VERY low cost renters.
Many thanks and best regards
4wallsWe are working out the logistics to come down for the seminar. Have already postponed a trip to Perth in April. We have to see if we can get the outlaws to come from Canberra to look after the children for the weekend, book the air tickets and hotel accommodation for Melbourne and go via Perth to see the folks on the way home to Singapore.
Of course we have to book in for the seminar yet. We will be trying our hardest to be there.
We look forward to seeing you.
regards
4wallsHi Wilandel
An interest only loan is suitable if your goal is to achieve positive cashflow on your investment. Basically, with an interest only loan you are actually making your money (that you put down as deposit) work harder for you. I see no reason to increase equity in your investment if your goal is to achieve the maximum return on equity. For example if you bought a property for say, $100,000 and you had to put down 20% deposit, so you’re borrowing $80,000. At an annual interest rate of 6% your annual cost of servicing the loan is $4,800. Say your property rents at $125 per week, or $6,500 p.a. Assuming that that is all your cost of investing in this property, your net +ve cashflow = $6500 – $4,800 = $1,700. Hence your return on equity = 8.5% ($1,700/$20,000). Now if you were to start paying “principal” toward your loan, your equity indeed rises, but your ROE drops making the return on your property less attractive.
Again, this is a simple illustration without taking into acount stamp duty, real estate fees etc but the formula is simple and applies to most investments. I agree with Felicity in that, if your goal is to accumulate rather than increase ownership in the one property, defer or avoid paying off principal. One thing to note though is to put down a deposit that you think would cover a potential “adverse” move in property prices in general. Good luck.
regards
4wall’s husbandWhat is an aussieism for stupid(?).
I have had the biggest laugh, albeit at my own expense.
Good news – the expense sheet doesn’t look so bad and that makes me heaps happy.
regards
4wallsI guess if I am an Australian living in Singapore, but attend your course I will be out of the race?
regards
4walls
Wow!!! A reply from Steve McKnight no less. Thanks a heap…..
We did engage someone professional to find our last property. To cut a long story short – it was not a good experience.
But its a good idea – and I will discuss with hubby about trying this again.
Thanks for your insight.
I’m off to download Buyer Beware!
Talked to hubby earlier about the seminar and he wants ME to go. I’m an idiot when it comes to maths and formulas – will I be able to understand it?
regards and awesome day to you too!
4walls
Hi Dianne,
I must be confused about your post. I emailed a portion of your post to my solicitor and asked her to investigate. I thought that we maybe able to get a concession or something on land tax as we have have sold our house and are settling in March. As you know land tax is charged Dec-to-Dec. We have never lived in the property.
The solicitor came back with a reply in reference to your post,”its only applicable if the purchaser moves in before settlement”.
Just thought I would run this past you to see what you thought and if I have my wires crossed.
regards
4walls
