Sonja,

Do you know how I can get in touch with them?

Cheers,

Aceyducey

In theory, there is no difference between theory and practice. But, in practice, there is.

– Jan L.A. van de Snepscheut

Originally posted by hoarel:
I don’t know how old you are or what your plans are. But for me being in my 20’s, with a 3 and a 1 year old and another unborn. 80 years is bugger all in a plan for this generation.

Hey hoarel,

33 & I plan on being around for awhile – as will my Trust.

I reckon it’s a trivial issue & doesn’t require 50+ years of…[Read more]

Originally posted by hoarel:
I found out that trusts only last for 80 years. How are you going to pass the trust to you kids when the trust expires and they have to transfer everything to a new trust and pay CGT or sell everything and pay CGT?????

How do you get around this??

Isn’t 80 years long enough

Cheers,

Aceyducey

In theory, there is…[Read more]

Surudoi,

There are regular ones scheduled through Somersoft’s Meeting Point (http://www.somersoft.com/forums).

Sorry if I just doubled the amount of reading you need to do [biggrin]

Cheers,

Aceyducey

In theory, there is no difference between theory and practice. But, in practice, there is.

– Jan L.A. van de Snepscheut

Mark said:

I don’t like the idea of wraps because I don’t want to have to deal with the emotions of the person who I am taking advantage of.

My comment about wraps was purly my opinion. I’m sure there the sort of investment that really suits some people.

hmmm, who’s throwing insults [biggrin]

I feel that insulting people who wrap by calling…[Read more]

Mark,

On your first point I’d suggest that you have a standard contract drawn up that the seller can use.

Make sure it’s fair & it will cut down on the time required to reach a conclusion.

Cheers,

Aceyducey

In theory, there is no difference between theory and practice. But, in practice, there is.

– Jan L.A. van de Snepscheut

Originally posted by mark76g:
A truly rational person would have said something like “I don’t agree with you and here are the figures or this is the reason why”

Mark,

I’m sorry that none of the very experienced investors who replied to your post qualify as ‘truly rational’ in your book (which is clearly the textbook on the topic).

And I’m sorry…[Read more]

Einstein once said: “If I had my life to live over again, I’d be a plumber.”

Perhaps we need to encourage more kids to follow this path

Cheers,

Aceyducey

In theory, there is no difference between theory and practice. But, in practice, there is.

– Jan L.A. van de Snepscheut

Wrappack,

If you use a unit trust & lend your personal money to the trust, you can negative gear just as if the property was in your own name.

Trusts can accumulate losses over a number of years and spread profits across different beneficiaries, making it much easier to minimise CGT.

Cheers,

Aceyducey

In theory, there is no difference…[Read more]

NEWGEN,

Bad luck – but you’ve learn a valuable lesson….

You CAN trust your instincts – they are spot on!

In future you’ll be able to pick this type of issue straight off.

Cheers,

Aceyducey

In theory, there is no difference between theory and practice. But, in practice, there is.

– Jan L.A. van de Snepscheut

Jerome,

Here’s my tip: Don’t do it!

Research Trusts.

Cheers,

Aceyducey

In theory, there is no difference between theory and practice. But, in practice, there is.

– Jan L.A. van de Snepscheut

Milly,

Why not look at some form of staged payout of the unit over 5-10 years via some kind of installment contract.

On this basis you do the contract upfront & pay enough at the start to cover your Dad’s costs & tax…then pay him off over time.

It makes the property positive-geared…the longer the contract term for payout the greater the…[Read more]

Peter’s been posting over in Somersoft if anyone is interested in the ‘nearing from horse’s mouth’.

Cheers,

Aceyducey

In theory, there is no difference between theory and practice. But, in practice, there is.

– Jan L.A. van de Snepscheut

Originally posted by mark76g:
I don’t like the idea of wraps because I don’t want to have to deal with the emotions of the person who I am taking advantage of.

Mark,

Now that’s an emotionally-laced statement

So are your comments about ‘crappy places’, about the possibility of tenants wrecking the place and being bogged down for years.

I…[Read more]

Cherub,

The way rent guarantees can be guaranteed is by increasing the purchase price.

So you are paying for the property PLUS the rental.

Generally short-term rental properties have higher management fees & costs (more management required). Vacancy rates can be significantly higher & more dependent on the business or tourism cycle than…[Read more]

Originally posted by WallFlower:besides ‘Shakes’, what do others use as their ‘instruction manual ?’

I lost mine, so now I just press buttons to find out what they do.

Cheers,

Aceyducey

In theory, there is no difference between theory and practice. But, in practice, there is.

– Jan L.A. van de Snepscheut

Aesop told fables, but they still had the power to change lives.

I believe in focusing on one thing, getting it down & then moving onto the next….it’s how babies learn – and it seems to work for them.

However if something DEFINITELY isn’t working, move on &^ come back later…..

As the saying goes: ‘try, try, try again – and then give…[Read more]

Salacious,

Removing asbestos is a job for professionals (with very good health insurance).

You don’t want to break an asbestos board!!!!!

It’s safer to be a 30-a-day smoker.

Cheers,

Aceyducey

In theory, there is no difference between theory and practice. But, in practice, there is.

– Jan L.A. van de Snepscheut

You can leverage shares up to around 70% depending on the share & the margin lender. However beware of margin calls

Dividends are reasonably well guaranteed by the big companies – and if they fail to pay one you can always jump ship quickly….much quicker than you can jump ship on a property which proves to be hard to tenant. Of course you pay…[Read more]

Try the PMT function in Excel.

Cheers,

Aceyducey

In theory, there is no difference between theory and practice. But, in practice, there is.

– Jan L.A. van de Snepscheut