[bj in brisbaneParticipant@bj-in-brisbaneJoin Date: 2005Post Count: 19]

April 6, 2005 - 4:03 am

whoops, that should read $40 [lmao]

[bj in brisbaneParticipant@bj-in-brisbaneJoin Date: 2005Post Count: 19]

April 6, 2005 - 4:01 am

i didnt mind the lovely low set 14bed at colorado for a cool $14m[cowboy2][party]

[bj in brisbaneParticipant@bj-in-brisbaneJoin Date: 2005Post Count: 19]

April 6, 2005 - 4:00 am

some options might be to sell the home and rent a place, the equity could then be used for deposits

pay smaller deposits

do some bird dogging and use the income to pay for deposits

otherwise i dont know, get creative, settle on long terms with early access fix some places up and sell them before you need the loan use the CG to pay for deposits on more REI!!!

[bj in brisbaneParticipant@bj-in-brisbaneJoin Date: 2005Post Count: 19]

April 6, 2005 - 3:11 am

mate, if you could rent it out for a measely 140,000 per week it would pass the 11 second rule.

its a bargain at 20,000 per night!!! mere pennies really!!

[bj in brisbaneParticipant@bj-in-brisbaneJoin Date: 2005Post Count: 19]

April 2, 2005 - 1:25 am

no scheduled second session or anything?

[bj in brisbaneParticipant@bj-in-brisbaneJoin Date: 2005Post Count: 19]

April 2, 2005 - 12:52 am

Originally posted by Dazzling:

Foundation,

w.r.t. to question 2) Huh ??

Well I was wondering who was running “the show” over there ?? The “show” being – the largest property portfolio in the world by far.

How do they do it ?? Do they have property managers in each country…imagine their bulk discount on PM fees…who all report to one supremeo in a purple gown. Then what does he (no she’s in this property group) do with the info ??

I imagine they all get dressed up in their purple silk PJ’s, pop on their pointy party hats and sit around a big slab of polished oak with the ‘top dog’ up the end of the table in his white silk PJ’s and mull over their 200 Billion USD + portfolio…

I dunno – how do you think they manage it all ?? I’d imagine there’d be a lesson or two for all of us in that lot.

Maybe they are the ultimate masters in the “buy and hold” technique ??

ROFL!! “Buy and hold technique” A lot of property was bought below market value or donated and so on. Dont get me wrong there was some very smart and well educated people either working for or a part of the church. Knowledge was the key! Knowledge of what buy and where, and so forth, is what has helped to create this vast wealth.

The Pope certainly isnt the head honcho in my opinion, there is people in charge of his movements and so on, particularly in the last months where he has been more “weekend at bernies” than the manager of the biggest property portfolio in the world. Im not a close follower but it seems for a few years, hes been a bit behind tyhe eight ball.

[bj in brisbaneParticipant@bj-in-brisbaneJoin Date: 2005Post Count: 19]

April 2, 2005 - 12:47 am

Originally posted by Dazzling:

Folks,

There seems to be a generous smearing of religion wrapped up with many contributors to this site – probably attracted by Steve’s open acknowledgements in his books…evidenced by some of the quotes on their signature.

I was wondering what the religious people thought about the Catholic Church and their absolutely MASSIVE property portfolio around the world.

1. Do you think it sits well with the image they try to portray of poverty.
2. Is the Pope just the chairman with all the purply cardinals directors of the board ??
3. Do you agree that all their properties (many of which are in prime CBD locations on large landholdings due to the length of ownership) attract very little to no council rates ??

My trouble debating religous things is that someone can find a passage in ‘the book’ supporting their argument, and yet another can find a passage in ‘the book’ that refutes the first 180°…so they both think they are right…and hence arguments prevail ??

Religious organisations get all sorts of tax benefits, and they do not pay land tax on holdings. Where I live they occupy the top of every hill with a view of the city or the water. It seems a bit much. Although the church must be falling on hard times, as recently, I can think of four or five big developments in Brisbane, that have involved selling church land. Making subdivisons for housing/units or other.

No offense to anybody intended. I went to a catholic school, I am merely pointing out a few facts.

[bj in brisbaneParticipant@bj-in-brisbaneJoin Date: 2005Post Count: 19]

April 2, 2005 - 12:42 am

mate, redlands shire council i believe is in charge of all the little islands.

My uncle has a house on Macleay Island. I have heard recently that the barge company taking houses over to the islands was looking at closing down, or has ceased operations (from a good source) But stupidly did not get all the inforamtion.

Anyways, it should not be too hard to get a different barge company to take the house over there if you can get council approval. I was looking into this option for the company I work for.

[bj in brisbaneParticipant@bj-in-brisbaneJoin Date: 2005Post Count: 19]

April 2, 2005 - 12:35 am

stones corner is a popular wholesale shopping outlet area here in brisbane, close to the CBD, and woolloongabba, close to transport infrastructure. yadda yadda yadda

what would you like to know??

[bj in brisbaneParticipant@bj-in-brisbaneJoin Date: 2005Post Count: 19]

April 2, 2005 - 12:26 am

A year ago this would have been a difficult question, but right now, I know, the reason im investing in property is not so much for financial gain, but more for time wealth.

Working 11hr days six days a week, with demanding hobbies and life commitments, makes you appreciate time an awful lot. But I am slowing down now.

QUESTION:
A forked road appears ahead of you in the bush, which one do you take?

[bj in brisbaneParticipant@bj-in-brisbaneJoin Date: 2005Post Count: 19]

April 2, 2005 - 12:07 am

Originally posted by jhopper:

The man has the hiccups and wants the water to get rid of them. The bartender scares him with the gun so he dosn’t need the water anymore.

Had to really search the memory banks for that one!!

Ok, an oldie. What is the biggest number you can form using two numbers (using two real digits only).

Or it was a “water” pistol or the drinks gun??

[bj in brisbaneParticipant@bj-in-brisbaneJoin Date: 2005Post Count: 19]

April 2, 2005 - 12:01 am

Originally posted by emcdonald:

reminds me of those song lyrics…
“remember you can wear your underwear four times without washing it, forwards, backwards, inside out forwards, inside out backwards”[biggrin]
just read the riddle, still thinking…

e x

that song is:

“Not the sunscreen song” by John Safran, a sendup of “The sunscreen song” by Quindon Tarver Around about 1997/1998 they were released. (Confessed muso head)

[bj in brisbaneParticipant@bj-in-brisbaneJoin Date: 2005Post Count: 19]

April 1, 2005 - 11:36 pm

GOLD!

[bj in brisbaneParticipant@bj-in-brisbaneJoin Date: 2005Post Count: 19]

April 1, 2005 - 11:31 pm

is there a way you can search for all posts by a particular user?

some users have consistently great info, and it would be a good idea. It could also help you to guage how helpful an individual is being, based on there previous responses, and might show us which (l)users to ignore? [biggrin]

[bj in brisbaneParticipant@bj-in-brisbaneJoin Date: 2005Post Count: 19]

March 30, 2005 - 6:56 am

Originally posted by natwayne28707:

My partner thinks that I am contributing to Steve McKnight’s and Robert Kiyosaki’s retirement funds by buying all of their books. I think that if we got rid of Foxtel my partner would be more motivated with property.

ROFL!!! Seems true. A friend of mine, said, why waste all the money on the books. Yet a $5k TV and Foxtel, is what he recently purchased. I beleive the books contain valuable information to educate my mind, these guys have gone out, and done what they say, and know what to do and what not to do, and in some cases it has taken them 10 years, and i can knock it over in a weekend… thats accelerated learning.

[bj in brisbaneParticipant@bj-in-brisbaneJoin Date: 2005Post Count: 19]

March 30, 2005 - 5:30 am

Originally posted by marliw:

From a novice’s point of view, there seems to be 2 ways of approaching this – from the unemotional, investor ie sell; or 2nd from the angle of giving something to your in-laws. Have you asked what they want to do? Maybe they want to downsize? Maybe if you discuss your dilemma with them they can help you come up with a solution?
Marli

I think that is a great idea, maybe they are looking to downsize, and that would help you come up with a solution.

[bj in brisbaneParticipant@bj-in-brisbaneJoin Date: 2005Post Count: 19]

March 30, 2005 - 2:32 am

Originally posted by FW:

Grrr my ISP had a glitch and lost the really long answer I’d typed to this!
[angry2]
anyway, when I started out it’s fair to say hubby wasn’t keen. He was working ridiculous hours, and didn’t want to know. Initially I started doing some small share trades, and talking to him occasionally about it, but property was just too big a thing for him to contemplate. All he wanted was to pay off the house and no more borrowing.
Anyway, one day he read Rich Dad, Poor Dad by Robert Kiyosaki. It didn’t change him over night, but it certainly opened his eyes to a lot of things. Finally I convinced him to let me buy a rental property. We’ve moved on from there.
I have to say that even today a lot of what I do scares him, he’s not really comfortable with it all. But having said that, he took a package just over a year ago, spent last year studying full time in Children’s Ministry, and is now contemplating how best he can work to help primary school age kids at risk (and it doesn’t matter if it’s paid work or not).
He’s still not entirely comfortable with what I do, and still has a tendency to be a negative nellie when I come up with ideas, but considering where he’s come from, I think it’s brilliant!!!
I’m still the main investor, I still read the books and go to seminars by myself – I don’t know if that will ever change. His passion is helping kids, mine is investing. But at least he’s on the same page now. And he will bounce ideas around with me!
And right from the beginning, even when he didn’t want to know, he still reluctantly supported me.
So I guess what I’m saying is – take it one step at a time. It’s good to paint a rosy picture of the future, maybe even chuck in an incentive or two, but if you try to present the bigger picture right from the start in terms of how many houses you want, etc, you may just scare your partner so much that you’ll never get anywhere.
I started with little share parcels, then options trading, then one rental house, then two rental houses, then wrap houses, and so it goes.
The journey of a thousand miles starts with a single step – take your wife one step at a time, and you may be surprised.
But if she’s never interested in being your partner in investing, that’s okay too. All she really needs to do is not block you!

Keep smiling
Felicity

I like felicitys idea.

Let them educate themself, with some small prompting from yourself.

Get them to read steves first book aswell… it is very close to an australian version of rich dad poor dad… just with a property focus

[bj in brisbaneParticipant@bj-in-brisbaneJoin Date: 2005Post Count: 19]

March 30, 2005 - 2:10 am

I was keen to go to the brisbane one, and noticed it was full…

Is there going to be another day in brisbane, or is there perhaps another way to get along?

???

Rob

[bj in brisbaneParticipant@bj-in-brisbaneJoin Date: 2005Post Count: 19]

March 21, 2005 - 2:30 am

Originally posted by Benny:

As “Debtdogg” said

That being said, if you do not have another income against which you can claim deductions then surely if income (rent) less expenses (rates, interest etc) gives you a negative figure you have negative gearing.

Probably the most important thing to understand is this:-

If you are positive geared, then a positive cashflow is a given – your expenses are all covered, with an amount left over for your pocket. Any Tax deductions will only serve to increase that cashflow.

If you are negative geared, it’s possible to still have a positive cashflow, BUT ONLY if your deductions give you a Tax refund big enough to offset the losses that you would otherwise have.

Lose your job, and you will have paid no Tax, thus no refund, resulting in a negative cashflow because of the negative gearing.

Better?

Benny

I understand and agree.

Cashflow and gearing are two different things.

If you have too many properties that are positively geared (marginal or no cash on cash return) but some ROI through rent + tax deductions, then, it will reach a “critical mass” (As Steve Says) whereby you have to work harder therefore earning more tax to claim the same or similar deductions. Or it will reach a point where your tax deductions arent claimable because you are claiming them all. Then no more tax deductions allowed on additional properties.

Depending on your interest rates, and rate of pay from your employer and a host of other factors, you could only afford so positive geared properties.

(This is my understanding, because I beleive that there is a difference between positive gearing and positive cashflow)??