Forum Replies Created
why wouldn’t you?
Jaxon | Jaxon Avery – Financial Adviser
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hey Sstar,
Good to see your learning,
Never heard of him, However, I did review a few vids as I was interested.
The way I see it, everyone has a lesson.
You watch for both sides of the positive & negative and you’re going to learn a lot more than just picking up one side.
I personally am not a big fan of getting in debt for assets that loose money on the hopes of only growth to sustain your portfolio, I rather strong returns with the capacity to add value & buy under market value. (generally, some exceptions)
Wish you all the best!
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
Hmm, interesting issue mate,
So firstly this is a potentially complex legal issue that you would need specific professional advice.
It would be an expensive exercise to follow through with depending on what outcome you’re after?
there are lots of cases & lawsuits against x y & c to recoup damages you incur.
there are lots of cases you can review to get a basic understanding but go seek some legal advice
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
Good Day Jaidyn,
are you talking in relation to purchasing a property? generally, they both serve the same purpose if its simply to assist the transfer of ownership to you?
Enjoy your week!
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
Good Day David,
Mate, I am based on the gold coast but love talking to anyone about the financial value of properties & happy to try to answer any & all questions.
the value on this website is unreal & has so many great “value adds”
I hope you find some great people to deal with locally as well :)
Enjoy your week!
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
Is there a question hahaha?
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
Crasy! ahah.
Great post, I think this shows the importance of a few really key financial basics.
Compounding
Reducing expenditures (to better invest that created excess)
Minimizing Taxation / structuring
Love forecasting for myself :)
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
Good Day Mandar,
I agree for most situations I do not see why you wouldn’t get an asset that makes money instead of losing it. :) (some exceptions)
So not always remote (depending on your view of such)
So you study the vacancy rates / call agents, study the area & understand the staple local economic situation e.g. farming/mining vs tourism/business etc
that is such a good question about population & I do have a view that’s quite multi-layered but a simple answer would be review
-risk of low population (how many renters vs owners / vacancy rate / growth of sales prices / industry reports)
-future calculations of growth based on reasons to live there
among many other things.
if you can learn to understand these things & more you will see the risk’s for what they are.
(once again this is not catered to you in any way this is just my general view of your statements)
Enjoy your week!
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
Good Day Ari,
Firstly the fact you are aware & cautious is an absolute virtue & not making a bad step early & knowing what & how to navigate can change your financial future & be wary of anyone selling you a product
I can’t stress enough how many great pieces of information are on this forum & if you do not understand something then why would you do it?
I think you are in a unique position & realistically have a variety of potential options to reach your end goals. (whatever they may be)
I am actually one of the few financial planners that actually spend time reviewing properties for clients, similar to a buyers agent in a sense although I have no financial interest in if a client buys the property or not.
in relation to the Campbelltown property, I would say there is nothing of those numbers that really amaze me on face value & if you enjoy your reading I believe the -“nathan Birch” model of
-Buy Under market value
-Positive/Neutral cashflow
-Ability to add growth (reno, sub div, reval)
is arguably one of the best overview strategies to add money into your portfolio.
what is the goal for that purchase? how is it part of your plan to financial freedom? or your end goal?
Enjoy your week!
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
Cohuna, Moe, Ballarat, traralgon and many more.
in these areas & many others there are properties 100-250k with similar options as the one mentioned.
All the best!
Most of these areas & more will have similar properties that have been sold renovated which will be an easy indicator its met your area (if you can produce a similar product (PROPERTY)
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
Good Day Scott,
Terry &Richard both are experienced and exceptional at what they do.
Your plan/strategy has merit although compared to other options & plans it may, however, be a slower process to reach your “end goal”.
the fact you are at this stage & understand a fairly good idea of where you would like to end up is massive,
now comes assessing the different options & truly understanding the pro’s con’s & unforeseen that may result in each different option and path.
So for me, it all comes down to the numbers behind the properties, meaning the Return on investment, the ability to add value to the property & the perceived growth likelihood.
I think the more you read & understand all the different views & potential outcomes it will really open & define what suits yourself.
wish you all the best & if you had a specific question always happy to chat.
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
If the numbers add up and it fits your current strategy and position then there is no question.
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
Personally I bought properties I have never seen.
-study the area online
-call local real estate/property managers to learn about area
-ask questions
-get reports from everything relevant
-if everything adds up and you have insured the downside you have the capacity to add more value, open yourself to more areas of growth with greater ROI
All the best!
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
“do something you love and you wont work a day in your life”
BB I came to a similar point I realized I needed more income to grow the portfolio I wanted in the time frame I desired.
Think more about what your willing to do and look at what you want, lifestyle, hours, study, etc.
everything in life has a cost, work out what your willing to do for that income, for e.g. mortgage brokers can earn really good coin and the study requirement is fairly low, so essentially you could do it on the side for cheap while still working and get accredited before you even quit your current job, then start off on a possibly higher starting salary.
(as an example, not stating in any way this is specific and you should do this)Kind regards
Jaxon Avery
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
Ok, providing it complies with the body corp bylaws and your not altering any external space you can do this, the issue is it technically is not zoned, approved as a 2bedroom so for resale you should and can list as a 1bed or 1+
but I have heard of cases of people being compensated for buying a 3b that was legally a 2 bed and study.in regards to rental return, that is fine, yes you would likely get a better rental return.
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
Sorry, yes in the above case its for PPOR, which is not deductible.
and you answered the question I had as well, as I thought.
now in relation to the above
is there a work around for deductions on that IP if he uses it eventually for PPOr
for e.g. putting equity from IP into Term Deposit then parking in offset, does that mean the debt created in the IP becomes deductible?
why is it a case of only the $120k is deductible? If its refinanced why wouldn’t that now have tax advantages?
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
The use of funds is for an IP? an income producing asset?
So if he used those funds for another IP, then the interest is deductible?
There is no private purposes. just using equity in IP 1 to buy IP 2.
no mixing at all?
would this then work?
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
Terryw,
even if he created a new loan on the current IP, that would be deductible wouldn’t it?
its not mixing the loans, its creating a new one at the full loan amount? that way the interest is deductible?
or am I missing something.
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
Mate would love to hear the outcome,
I would simply weigh exactly what Ethan stated about the sale price for the land and approved plans, you could also get an agency to sell the plans before you spend anything on the build (much like a new development sale and some pre designed pictures, then sale can include extras they want)
this means no overheads to start, contract pre done, is this something you’ve looked at?Curious as to how this all played out?
Thanks
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
Hence why your understanding of the field must be largely valuable to people planning for such as from what I understand that is your expertise?
I think that’s a great idea mate, the main point I personally find valuable from asset protection is LVR, Ownership setup and Cashflow In and building a safety net, in regards to the areas your talking about I think a clearly Australian book that breaks it into clear pieces would be very valuable so people can understand the levels of value of Wills, Trusts and company and even references to historical events, man that would be a great book.
Look forward to it Terryw.
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
