Forum Replies Created
Thanks Redwing,
Very busy these days reading, (bought Neil Jenman’s “Don’t Sign Anything” today) and learning from others! Soon I’ll get to put it all into action!!
Cheers
BronThanks Mel,
Also fell on the floor……. laughing. Ha Ha!
Cheers
BronChan$,
I guess you have to buy an IP before you can sell it!! (First one coming up soon!) We’re on Macs which both complicates things and make them easier at the same time. If I could afford a waterproof Mac it would probably pay the deposit on 2 IP’S!
Also, if I smile nicely, will you buy me a spa too? Just a small one would do!!
Bear,
Sad and hot story! I sympathize! Did you REALLY need to stay in the caravan? Makes a good story later on I guess! I hope you found an IP or 2 for all that effort! BTW, are all those kids yours?
Pisces,
Where can I get me some o’ them shoes?
For anyone else out there who’s feeling the heat, a friend gave me some good advice for the bathtub today….icecubes!!
Cheer All!
BronOK Pelican! You win!!
Thanks Guys!! It wasn’t really too serious a question. My brain just gets a bit deep fried in this weather. It’s been going on for weeks…..MMMMMMmmmmmm, airconditioning!!
I do know I won’t be moving to Singapore in the near future though!
Stay cool!
Bronitsa!
Congrats on your first IP!!!!
As another new player I’m here to say – Love to see your checklist!!
Have had Steve McK’s “Buyer Beware” package for a week, which seems pretty good to the untrained eye. I’m sure I’ll develop my own over time but looks a good place to start!
Cheers
BronThat’d be right!! Trade in your old faithful bike once you become an investment tycoon!!
Seriously… Thanks for that and good luck with your plans!! I’ll be keen to know how things are going for you!
I think I’m headed in the right direction.
Cheers
BronBTW I’d still like to hear from anyone else’s experiences!
Bron
Thanks Chan$, Yack, Leigh K and Shaun!!
That stuff is really just so helpful right now! All the specifics about making the most of tax and the intricacies of legalities are going to become more and more useful and important as time goes by. (Soooo much to learn!) But getting really broad info gives me more confidence to make a start.
Maybe one day I’ll get to give someone my considered opinion!! For now it’s just great tuning in whenever I can and being able to ask the simple questions.
Cheers
BronThanks Leigh K! Thanks SIS!
I think being cautious about an accountant sounds like good advice. SIS you mentioned a good accountant up our way in a past post, who we plan to visit in the next couple of weeks along with some others. Is it usual to “interview” accountants?
How do you do due diligence when sometimes you’re not quite sure of the questions to ask?
A leaning to +ve cashflow properties?
An understanding of the most suitable type of trust?My experience with accountants in the past has involved me suggesting options to them rather than the other way round.
What about solicitors. Do you “interview” them too?
Cheers
BronHi Foston,
No, haven’t read it (sorry) but would be interested to know about it too!
Cheers
BronHi Warren,
Thanks for your reply.
Before we go too far there’s a couple of things I need to clarify…..
Firstly, the “Steve” I am referring to is Steve McKnight!! His advice is not to use more than 40% equity in your PPOR.
Secondly, there is a typo in one of my posts (and some dodgy maths as I was racing out the door yesterday)
Sorry for the confusion. But to cut to the chase…
We would have a total of 280k cash with no debt if we sold our PPOR. If we kept our PPOR, 100k cash and 72k available in equity (Going by Steve McKnight’s 40% suggestion) and a debt of 120k. So a difference of 108k or so.
I guess my question is – Surely it’s worth selling to access the extra 108k?
Do any of the more long term investors here use 90% equity in their PPOR? Is this common?
Thanks
BronAlso Simon, our PPOR is a nice place to live for now but not our “Dream Home”. I also don’t really know if it would be very rentable. Nice house but steep block.
Bron
Thanks for your reply Simon,
Our line of thinking was that we could utilise the 280k to finance more IP’s inaddition to the 100k, thereby accelerating the whole process.Rather than just using the 40% equity ie 120k.
Cheers
BronNot sure if it’s OK to post this on this site but…. I have read some of the feedback from their workshops on http://www.financialsuccesssystems.com
You’ve probably thought of this already, but just in case…..
Bron
All the best Huey
Regards
BronSorry to hear about the loss of your friend, Huey.It’s always a tragedy when a person decides to take their own life. Those closest always spend time agonizing over what they could have done differently, but really, most of the time, there’s really very little. It’s so hard for those left behind who now have so many questions and little opportunity to find answers. Please don’t be too hard on yourself. Sounds like his partner and kids will be needing some extra TLC. Maybe that could be a way to find some meaning in all of this.
Be kind to yourself
BronHi 2004, Wildly Wealthy, Ricksta and Freedom8,
If any of you, or anyone else local, would like to chat drop me a line – bmckay@paa org au
I’m from Buderim (Sunshine Coast). What a great part of the world!
Cheers
BronThanks for the reply Cornel,
(I’ve just got back after a few days away)
Finding any sort of proactive accountant isn’t easy. Finding a specialist accountant – well.. to really see their worth – you only get one go every year! Any tips are worth their weight in gold!
Cheers
BronFascinating stuff!
As a property investing beginner – this is my first post to this site – I’m doing some serious research before taking the plunge and checking out a number of accountants (bad past experiences) before choosing one to help me out with this stuff.
Did anyone find out the details of the “secret” accountant before they were deleted?
If not… any suggestions for accountants in Brissy would be much appreciated. Be patient with me! I’m sure this question has been asked lots of times before but I’m finding there is just soooooo much great info to wade through on this site.
What a great site! Thanks to everyone who contributes! It’s great for me to be able to sit in on chats between those of you who’ve been there and done that. The more I read and learn the more there seems to be to know. A matter of just taking the bits you need I guess. It’s great that there’s so many folks willing to share their (expert) opinions and experiences.
While I know I’m going to make mistakes, I’m grateful to learn as much as I can – Life’s too short to make all the mistakes yourself!
Bron
PS Sorry PG. I thought it was funny too.
