Forum Replies Created
OK well thanks for all of that [
]The reason I have said that I may need to consider CF +ve properties is because I don’t want to work for an employer! If I am not employed, and thus not getting a wage each week, I can’t keep funding negatively geared properties can I?
I understand what you are saying about -ve now, +ve later, and I would like to think that I have more than 30 years left in me….but my aim is to do this all full-time, and as soon as possible. I therefore need to start focusing on investments that are going to produce an income.
My current situation is this:
Income:
Me – $60,000
Wife – $35,000
Rent – $10,500Debt:
House 1 – $165,000 (valued at $320,000)
House 2 – $225,000 (-ve geared – valued at $280,000)I re-financed my place late last year before things started to slow down in Sydney, and I have a LOC of $85,000. I currently have $50,000 remaining.
I guess I am still working through what will work best for my situation and what I want to achieve, and as such, all of your opinions are invaluable. They help me to think and challenge what I already know, and that is the main reason I am here. I am old enough and ugly enough to make my own decisions and mistakes in the end.
Thanks for all of your responses…greatly appreciated
Happy Easter to all as well
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]I have gone over a lot of these issues with my accountant, and for my situation at the moment, it is best to continue operating under my name…
What you said sounds about right, and yes, you will be up for a number of expenses if you establish a company…you could even consider an over-seas company which will cost about twice as much as an aussie company, but all profits will be tax free. The only problem is when you want to bring the money in to the country, you will be hit by the tax man, but there are ways around this, but it gets quite complicated. But imagine if you like to travel O/S to a particular company regularly….
It all depends on your own situation, how much profit you are making, and how far you want to take your investment business! In the end it will be down to you and your accountant and what you feel comfortable with…
Not much help am I?
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