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Just went to a seminar from Barry Pickering, ADAYOUN Capital Markets. Anyone heard of this company before, I googled him and it came up with another company name onsite direct. Just wondering what people think of his practices and strategies. That way i can make an informed decision. His fee is $250 to be a wealth coach. not quiet sure what that entails but i had to leave the seminar before getting to talk to him.
If anyone can shed some light that would be good.
Damo
Ummester,
I have figured out how you can afford to get the home off your dreams. Take you saving and head down to the casino and put everything on black. You either get a whole heap of money and buy your home or you loose it all and then you can get a government home and winge to them. That way we greedy invester don't have to listen to you wingeing that we are robbing the poor to feed the rich. It seems to me that you have solved the Australian housing problem without anyone elses help. I suggest that you go down and knock on the PM's door and explain it to him.
Damo
Ummester,
You seem to look at investors as these greed pig-like people that just want to feed off the poor tenant who is paying the rent. Its seems to me that you aren't looking at it the right way. To me having a investment property is a way that I can provide for my daughter's education and my life after I leave the work force. At the moment I am 30 years old and still have of time in the work force before I retire but that doesn't mean that I should wait until I am ready to retire before I decide that I don't have enough money to live on for the rest of my life. I look at my grandparents who are living on the pension and they get their money from the government but it isn't enough for them to do much except stay at home and watch the world as it passes in front of their house. While this might be good for neighbourhood watch it doesn't leave them with much to want to wake up to each day.
You mentioned that you are becoming a patriot, well that is good, we need people to be proud of Australia as the boundaries between countries gets blurred. As a patriot, I have seen some very bad places where the difference between rich and poor is so large. Gold taps and bath fittings, to mud brick houses with a satellite dish. These places the gap is too large for the majority of people to even get a look at it. So even though you don't think that NG is a good idea it helps people to get that little bit of a better life style. What I have read of your posts it seems that you would like the government to house everyone, maybe we could all live in the same style of housing and wear the same style of clothes and no matter the job get paid the same money. We could even line up for bread. Because without people tiring to better themselves and make money we would be living like that.
Maybe if you would like to live in a place where everyone is treated equal you could move to Cambodia.
Damo.
Hi,
Haven't been on the forum for a while. I looked into middlemount for awhile in Feb this year. Seemed like a good place to buy, I was looking into the oasis development. Has anyone bought one of these properties and can you confirm that you are getting the rent that the web site claims. I am looking as a 1 IP invester thinking bigger then my budget can affort. It would make me happy to find out that my short 2 weeks of property searching after my baby was born and I was at home with my wife was worth it.
I know that the prices have gone up by about $80 – $100 k since I looked in Feb. But I am worried that they won't get much higher than what they are now. The rent is good but I guess you would only want to hold onto the IP for maybe 3 -4 years and then sell. That way making sure that you didn't get stung if the boom slumps.
Thanks for all the info about the bowin basin. I wish I had seen this thread sooner.
Damian
Gday Jarred,
I'm in Darwin, i got the old $80g loan. was very interested, try this website. it tells you all about the new scheme.
http://www.defence.gov.au/dpe/pac or
Intranet: http://intranet.defence.gov.au/pac
I haven't looked at it for a while but it really adds up if you have been os for over 6 months for warlike service. and really who hasn't been in the last few years.
Interest rate go up and down. Its just something that alot of people forgot when they decided to go looking for a house to buy. They have gone to the bank or money lender and been told you can have so much money so they go out and buy a house for the amount the bank has told them. In a way the have gone i want the biggest house i can get, instead of going this house could cost me heaps more if the interest rate increase what could i afford to pay before i have to stop living the life style i want to live. I know that for my PPOR my wife wanted to look at houses which where at the upper end of our budget. I put the brakes on because i remember paying higher interest rates and how much it affected my wage when the rates went up. To factor in any rate rises i limited what we would buy to $130k less then the bank told us we could get. That way i included any rate increases knowing that we had that buffer. That way we didn't have to scrape together each loan repayment when interest rates were low. If you have to do that what happens when the rates increase then scraping together fails to meet the bills then your stuffed.
I know that the banks and other lenders are out to make money but maybe saying to people that you need to factor in interest rate rise costs would help. But its not the banks job to teach people to manage there own money. maybe the schools should cover finances a bit more. You can point the blame at the banks or schools but in the end if you don't borrow out side of what you can afford to pay then you will be fine. if you can't control you money then stay in a rental property and make me money.
i got 416, not bad i guess.
Hi Nejas,
I've got a post war cottage in brisbane and i had a quantity surveyor look at it, we have renovated the laundry, outdoor patio area and the kitchen had been done by the previous owner. The report cost $600 and lasts for 10 years. the report covers everything you need and although i didn't get what most of it meant or was needed for, my accountant did and it helped for my tax. I went through BMT & Assoc. They go the job done fairly quickly considering I live in the NT. If you have read Margaret Lomas's books she mentions BMT & Assoc. I didn't go with them because of this, as i have only started reading her books a few months ago, but i guess there is 2 recmmendations. Just so you know they haven't paid me for that. Everything was sent through email and i printed out the report for the accountant my self. You can get them to send it to you if you want but having it in email was easier then waiting for snail mail. I am sure that you would of had some work done to the property that is after 1985 so they can work on it. everything from aircon units to hot water systems to the oven can be used to help to reduce the tax amount you pay. I will use BMT again as it was just easy, when you contact them if you have the invoices at you finger tips for any works you have done then it will help them so that they don't need to estimate what the cost of the works was. They will get the original construction amount from the council. The more info you can give them the faster they can get the report back to you.
Good luck
Damo
Thanks for the comments, I have ordered a couple more books online, Got steves 0 to 130 prp and Margaret Lomas +cp investing, already so i am getting to understad it a little.
Damo
Thanks Cales405,
I did a search on the net and sent away for the free dvd, even searched on the asic website to see if the company was legit. I hadn't bought any books at that stage and thought that it might be the wonder course but now that i have read a few books they all have there litle spins on +CF IPs and as long as I take way from the book the general ideas and put them into place then i should be doing better. I just wondered about the age of the package and how much would be relevent to todays markets. With that in mind i am trying to get books that have been published either 2007 or 2008 so that they are up to date.
Cheers
Damo
Gday Adam,
I had the same question yesterday and i gave the tax man a call. I also went onto http://www.ato.gov.auand read up on the cgt. as long as you have proof that the property is you r ppor and you haven't bought another property which you are living i then you don't have the cgt. That was the understanding i got for the bloke on the phone. Just b sure that you sell the ppor before the 6 years is up or it is just another IP and it will have the cgt on it.
The taxman said, to that it was your ppor you would need to have mail going there and have it listed as you address on the electoral roll then you are good. Apparently there is know time limit for how long you have to live in the property either
Damo
Cheers
Thanks for the info, Just trying to get to understand +CF so i am reading lots and googling heaps. I have seen a few sites offering 2 day courses with so called experts but i hesitate at the cost of these courses with most going for $2000 per person, how much information can they pass on to you which you can retain. From what have read they are just there to get more money out of you.
So far I have read Steve's book 0 to 130 properties and Margaret Lomas pocket guide to +CF Property. Any other books anyone can recommend to read as i build up some capital to fund my second IP.
I have read in one of the forums that you can't learn it from a book or siting in fron of the computer but at this stage i am trying to get a foot in the door.
Damo
I have only one IP and the property manager i use is great, When i was looking into different companies i was overseas and many of them didn't even bother to answer my email enquiry. many of the ones which did just passed on their phone number and said to call them during business hours. Which was a bit hard to do in the middle east. As i like to do alot by email as i can do it outside of normal hours having a manager who was willing to get and retain clients through email was important. Maybe try canvassing the agents via email and seeing what the response is like, my opinion is that if they can check and reply to an email request in which you have given te details of the property then when you do contact them by phone they can already know what sort of tenants you want and give you informed answers. My IP has been rented nonstop for over a year with tenants bidding for the right to live there. I have had no costs for advertising as the real estate agent has a good steady supply of tenants.
Damo
Another finance question,
If you are looking for IP's can you claim flights, car hire, etc. If you haven't put a contract or pruchased a property. Can it still be a tax deduction?
just found a website called www. cashfowcapital.com.au. Anyone used it before, good or bad
I have been looking at homes under $400000, Looking for properies that are priced lower then most for the suburb or town but most of the rents are around the $250 for $250000 house. so I'm a little bit stumped as to get a CF property
