I’m one of the ‘singles’ – a 23y.o recent University graduate. I know what you mean about not having a someone (partner) to bounce ideas off as couples do. I’m a big believer in having a good team behind you and personally Im quite fortunate enough to have some financially like-minded friends who I can talk to about finances and…[Read more]

Good luck with your property hope you manage to do well from it. Places like Rockingham definetly get the thumbs up in my book. It always amazes me driving around Mandurah how far that has come along and looking at all the very impressive houses along the canels. A friend of our family went down to Mandurah a few months ago to look at a…[Read more]

I couldn’t really see any government removing negative gearing here in Australia. Stamp duty is enough of a pain in the butt without…[Read more]

On a related issue, there are several posts now and then…[Read more]

quote:
G’day Brett,

Getting 6 IP’s in Sydney metro on average salaries over the last 5 years, I would say my secret was a great mortgage broker. This guy switched companies 3 times, and I always followed.
Last year I started a broking business with him and now we help people get into IP with a smile.
We specialise in people who want to be…

[Read more]

quote:
I would like to retire early on a passive income.

If this is really what you want, then the answer is simple – door No.2 []

Regards,
Brett []

“Even if you’re on the right track you’ll get run over if you just sit there.”

I am actually the person that recommended Ken Tatam. He is the father of one of my best friends and is an absolute gun when it comes to accounting and taxation. He used to be in a large accounting firm beside heading out to start his own one which is in the Churchlands area. A very hard working and intelligent person (and very nice) he…[Read more]

Regards,
Brett []

“Even if you’re on the right track you’ll get run over if you just sit there.”

Regards,
Brett []

“Even if you’re on the right track you’ll get run over if you just sit there.”

quote:I have big plans and goals over the next 8-10 years, but I am not too sure how to get there

This seems like a good place to start [] Perhaps if you explain to us what your goals/plans over this time period, it would put us in a better position to help you achieve them.

Regards,
Brett []

“Even if you’re on the right track you’ll get run…[Read more]

Regards,
Brett []

“Even if you’re on the right track you’ll get run over if you just sit there.”

quote:How many of you are retired??
My guess is none! Prove me wrong

What is the purpose of this question?

My assumption is that you intend to highlight the fact that nobody on this forum has retired yet as a result of building up a cashflow positive investment portfolio with the aim of supporting your position that this is all a ‘sham’ as you…[Read more]

Regards,
Brett []

“Even if you’re on the right track you’ll get run over if you just sit there.”

Regards,
Brett []

“Even if you’re on the right track you’ll get run over if you just sit there.”

1. “The Journey”

2. “Live The Life You Imagined”

3. “Home Sweet Home”

4. “Absolutely Positively”

5. “Property Porsche: From 0 to 130 properties in 3 years”

Regards,
Brett []

“Even if you’re on the right track you’ll get run over if you just sit there.”

Looks great Steve and I am sure it will inspired those looking for something to kick start them on the path.

Couple of things:

Firstly, as an introduction to the book, when you ask “Should I buy this book” I would just naturally assume that if a person was reading the intro, then they had already purchased the book [] (though I…[Read more]

At the risk of being a pain, I’g going to answer your question with a question of my own.

Your Q: If you were in my position where would you start?

My Q: Where would you like to finish?

Personally I’ve never been big on planning or setting goals, but if there is one thing I have learned so far, its that it is of VITAL…[Read more]

McDonalads is the wealthiest land/property owner in the world.

As always though, your due diligence should be telling you wether or not you should or shouldn’t be buying.

Regards,
Brett []

“Even if you’re on the right track you’ll get run over if you just sit there.”

Whilst I complete my University degree, I work part-time as an IT Support Officer at AMP’s West Perth offices. (I’m assuming everyone knows who AMP is) As someone who has taken a very active interest in their personal finances/creating wealth through investments etc. I’ve found this to be a great opportunity in this respect because I…[Read more]

The site is working now and as such I’ve been able to download a copy of the software [] Here are my initial impressions/comments:

* I like the way the task list pops up at the start as a reminder for what needs to be done. When selecting a printable version though there are little boxes on the right side of the page which appear. I…[Read more]

Think something might be wrong with your site. I received a “This page could not be displayed.” message.

Regards,
Brett []

“Even if you’re on the right track you’ll get run over if you just sit there.”

You mentioned you dont want to be millionaires, but want to build up a portfolio of cashflow properties – approximately how many are you looking to acquire by when? The reason I ask is because when it comes to financing your deposit, if you are not looking to acquire several properties over a short amount of time, then either saving up…[Read more]

Regards,
Brett []

“Even if you’re on the right track you’ll get run over if you just sit there.”

When you say loan structure, are you referring to Variable vs Fixed Interest rate, Interest only bs P&I etc?

Regards,
Brett []

“Even if you’re on the right track you’ll get run over if you just sit there.”

Interesting assessment thats for sure []

About 8 months ago a good friend of mine gave me the book “Rich Kid, Smart Kid” written by Robert K. For those who havent read the book, its general aim is towards educating your children about money and trying to give them a head start in life by teaching them sound financial…[Read more]

quote:
I am a strong believer in having control over one’s finances, but you won’t need to budget at all if you have a tough mindset of ‘just saying NO’ unless there are overwhelming benefits.

I disagree with this. Although I’ve only recently finished putting together a budget for the first time, I think that budgeting is more about understanding…[Read more]

The domain is http://www.grafx.net.au

There isnt much there besides a splash page, I just use it as a dumping ground for files etc but would be more than happy to have it used to help WA investors in whatever way

Regards,
Brett

It’s great to see such a wide range of people willing to band together to ideas and resources in the Perth property market []

Dan thanks for the email re: Action group I will reply to that shortly, but what I wanted to add was that I have a personal domain and web server space to contribute to help out with organising some things online. Im…[Read more]

Some of my picks are below. I also missed the article on ACA regarding Perth.

Belmont – Excellent amenities and is close to the city and river

Currumbine – Good family homes relatively underpriced

Doubleview – Affordable established oceanside suburbs with a variety of property types

Mindarie – Good lifestyle infrastructure and near…[Read more]

Interesting idea []

I certainly think that there are opportunities to be had by pooling ideas/resources/information and I am quite open to doing such. As I have touched on in previous posts, my own position is that I’m 22, completing a final semeseter at University. I don’t have any properties at the moment (only came to fully appreciate…[Read more]

Im also in WA. My best friend’s father runs a small business called Advanced Taxation Consultants in the Floreat/Churchlands area which you can reach on 93878000. They guy you are after is Ken Tatam, although he is currently away in Singapore at the moment and is due back Friday afternoon. He is an absolute JET when it comes to tax…[Read more]

Im going to be using the time to continue my research into the area of property investments, understanding buying and selling processes, dealing with banks, forming my financial team, keeping abreast of property trends and news here in Perth, as well as improving/developing my system for finding good deals so that when I am a…[Read more]

Anyone else on the forum want to give their insights how they are ‘getting bigger faster’ or how they intend to?

Regards,
Brett

I’m still in the process of doing my research but the question of wrapping in WA was raised in a previous thread in this forum, regarding wether or not you needed a Credit Provider’s License to do it..

quote:
Your exact question was raised in the first WA Vendor Finance Association Meeting held last week.

The answer is ambiguous in…

[Read more]

I’m also in Perth. The best starting point I can give you for learning about ‘Wraps’ is https://www.propertyinvesting.com/files/content.asp?cid=wrapintro

Steve goes through the process in a very easy and understandable manner. Wraps are one of the many different strategies which you can use when it comes to positvely geared properties.…[Read more]

I’m in a similiar situation myself in that I’ll be spending a lot of my summer holidays continuing my research into property investments and start taking some action. With regards to the issue of Property Management, if you would prefer to manage your own properties to begin with in order to save the extra dollars, my advice would be to…[Read more]

Unless someone will physically take you to a good cashflow (or capital growth) property and say “buy this one” your best first step is to start planning. I used to prefer just jumping straight into things but Im finding out each day how important planning is when it comes to property. If you want to start in investing first decide what…[Read more]

I can only echo AD’s advice on having goals. It doesn’t matter how ‘grand’ they may or may not be, its important to have some kind of idea with where you are trying to go with your investments so spend a little time deciding that first. []

Ideally with your $60K as mentioned you want to get as much leverage as you can with that…[Read more]

Just quickly so my understanding is correct, when you say you have a positive cashflow of 0.5%, Im assuming that to be $5,500 a year ($1.1mil x 0.5%) if I’ve got that mixed up just let me know.

As to how you are doing, unfortunately I dont think we could really give you an appropriate answer, and its not because we dont want too []…[Read more]

This site is a great wealth of knowledge and I am sure you will pick up a great deal from discussions with other like-minded people.

Regards,
Brett

1. Spend a small % of your cashflow on getting proffesional property management so that you have more time to look for bigger and better deals.

2. Manage the properties yourself, increase your cashflow a little bit but spend more time dealing with tennants, problems, learning how to…[Read more]

This is a situation I will find myself in a bit later once I make my first purchase. My personal view is that time is your most valuable asset. By buying the services of a property manager you are infact buying yourself time that would otherwise be spent dealing with the tenant, fixing toilets etc..etc.. If you get a property manager,…[Read more]

This sounds like something a tax accountant could help you with. Do you know one or have one as part of your investment ‘team’ yet? If you dont I would STRONGLY recommend doing so as he will be one of your most valuable members in minimising your tax liability. If you already have one, have you consulted him regarding your…[Read more]

Regards,
Brett

quote:
I want to ask, risky for whom? The investor or vendor financier or the wrappee? The answer to the question depends on your clarifying answer.

Hi Sooshie []

My presumption is that the reason someone is coming to you to buy the property and accept financing from you (at a slightly higher rate than normal) is because the person cant get…[Read more]

From what I can tell the website looks very sleek and well put together (I do web design myself), so good work there. []

My suggestions for ‘improvement’..

1. Forum Contributions
Jeff Rosales brought up some excellent points concerning the value of contributions made to the forum. Admittedly this isnt something which can be directly…[Read more]