[kong71286Participant@kong71286Join Date: 2009Post Count: 261]

May 7, 2010 - 12:53 pm

Heya Terry,

I had a brief talk about setting up Family Trust to purchase shares with Mark Unwin today and he mentioned something about the need to have someone else (a non family member) donate some money to the trust E.g. $10 – being short on time I didn't get to ask him the reason 'why' this needed to be done – if you or anyone else could elaborate on this, it would be greatly appreciated

Regards,

Kong

[kong71286Participant@kong71286Join Date: 2009Post Count: 261]

May 6, 2010 - 8:50 am

Hi Wealth4life,

Just like you, I have no experience in investing in Gold/Silver or Mining shares

However, I've read a few books on investing in Gold/Silver in the past few weeks and highly recommend the following ones:

– Guide to investing in Gold and Silver (Mike Maloney – part of Rich dad group)
– The collapse of the dollar and how you can profit from it (James Turk & John Rubino)

If you want to preserve your wealth by buying gold/silver I'd recommend:

http://www.goldmoney.com

As for leveraging your profits even further with mining shares, that's something I need to do more research on, and something that would probably require the appropriate Family Trust structure setup.

One thing that concerns me however, is the recent news about introducing a 'resource tax' on miners in Australia. Initially I was thinking of investing in mining shares in Australian companies, but because of the proposed changes, I'm starting to lean more towards investing in shares overseas E.g. Newmont, Silver Wheaton.

Hope that helps!

Kong

[kong71286Participant@kong71286Join Date: 2009Post Count: 261]

May 5, 2010 - 12:50 pm

Have you guys received your conference tickets yet? I'm about to head off to Melbourne tomorrow morning, but haven't received anything in the mail…

Everything is organized E.g. Transportation, accommodation. The only thing I'm missing is the '3 day mega conference ticket'

[kong71286Participant@kong71286Join Date: 2009Post Count: 261]

May 4, 2010 - 11:15 am

Hi MrProperty,

I don't know much about Coberg – The first time I heard it mentioned was at a seminar by Mark Rolton. He said something about the government spending billions of dollars on Coberg, and 'Where the Feds are spending their money, is where you should to'. Using this information you could deduct that the prices of properties in Coberg are likely to increase.

Who knows… they could reach the $1,000,000 median mark just like many of the other suburbs surrounding Melbourne

Kong

[kong71286Participant@kong71286Join Date: 2009Post Count: 261]

May 3, 2010 - 1:30 am

Thanks Terry!

[kong71286Participant@kong71286Join Date: 2009Post Count: 261]

May 3, 2010 - 1:25 am

Hi guys,

Does anyone know if we are allowed to bring notepads/pen to take notes at the '3 day mega conference'?

"PropertyInvesting.com Pty Ltd and / or its agents own the copyright to the material, both oral and written, presented at
the Conference. No portion of this Conference, including notes or other materials may be recorded or reproduced in any
way or by any means without the prior written consent of PropertyInvesting.com Pty Ltd."

I sent an email about 1-2 weeks ago, and haven't had any replies

Kong

[kong71286Participant@kong71286Join Date: 2009Post Count: 261]

May 3, 2010 - 1:22 am

Hi Andrew,

I think the impact of the tax changes on property investors is minimal, but its impact on the Australian economy as a whole could be quite drastic, depending on how the mining industry react to these changes

"The introduction of a mining tax will have disastrous consequences on the operations and viability of many mining companies that are still reeling and gradually recovering from the impacts of the global financial crisis," AMEC chief executive Simon Bennison said.

Personally, I am against the 40% resource tax – As the saying goes 'You shouldn't kill the goose, that lays the golden eggs', and if the tax goes ahead, companies and investors may seek to do business elsewhere

Hope that helps,

Kong

[kong71286Participant@kong71286Join Date: 2009Post Count: 261]

May 2, 2010 - 1:08 am

Hey Terry,

Thanks for your concise answers

With regards to the 'wording of deed' – can it be altered in the future, or is this a once off event, which you need to ensure you get right from the start?

Kong

[kong71286Participant@kong71286Join Date: 2009Post Count: 261]

May 1, 2010 - 11:44 am

Hey guys,

I just had a few more questions about using a Family Trust structure

1) Who can you include as beneficiaries of the trust? Is it limited to your wife and children? Or if you are not married, can you include your girlfriend? Brothers/sisters? Parents? Grandparents?

2) Would a Family Trust be a good entity to purchase shares under?

3) Should you have separate Family trusts for different investments i.e. one for shares, one for properties?

Your help is appreciated,

Regards,

Kong

[kong71286Participant@kong71286Join Date: 2009Post Count: 261]

April 29, 2010 - 12:47 pm

Heya Clint,

Provided you no issues with finances and sharing your profits, you should consider teaming up with another investor who has a lot of time on his/her hands, and/or ask for a longer settlement date e.g. 6-12months

Regards,

Kong

[kong71286Participant@kong71286Join Date: 2009Post Count: 261]

April 28, 2010 - 1:01 pm

Thanks for your input Josh – Appreciate it

[kong71286Participant@kong71286Join Date: 2009Post Count: 261]

April 26, 2010 - 11:39 am

===============
To Laurent
===============

Thanks, that helped a lot

===============
To Ally 11
===============

Yes.. I was thinking of getting a $20,000-$50,000 cash advance on one credit card, and then transferring it to a new Suncorp Clear Platinum card, which charges 3.9% pa for life of the balance. However there is a clause in the contract, which states "The 3.9% p.a. balance transfer interest rate will not be valid for transfers from other Citigroup or Suncorp Credit Cards", so I will need to do further research on which credit cards to go for. Furthermore Laurent stated there is a minimum repayment of 2.5% of the balance, so I will need to factor this into my decision of how much cash advance to go for

[kong71286Participant@kong71286Join Date: 2009Post Count: 261]

April 26, 2010 - 11:09 am

Hi Vincent,

Thanks for bringing this topic up – I've been thinking about investing in US properties for some time now, but most people I have talked to (including friends/family) think it is a stupid thing to do, and that I would be better off investing here in Australia even if it means paying 10x the amount of US properties. Although I try not to let other people influence me too much, it's hard to go against the advice of close friends/family who care about you deeply, and who have been there for you in the past.

Right now I am planning to invest in US properties starting from the end of 2011 onwards when foreclosure rates are set to peak/double, but being relatively new to property investing, I thought it might be a wiser idea to start investing in a few properties here to gain experience, before investing overseas. Obviously there is a lot of research I need to conduct before heading off to the US – what is your advice with regards to the following:

– What entity should properties in the US be bought under?
– How do you finance properties in the US? Do you have to apply for an IRS number? How can you improve your US credit rating?
– Do the laws differ much from Australia? Can you explain 1031 tax–deferred exchange?
– Where do you get your raw data for analysis? In Australia, we have brilliant resources such as RP data and Residex – are there similar organisations in America? How do I find out about which properties are undergoing foreclosure?

Your words of wisdom would be appreciated,

Regards,

Kong

[kong71286Participant@kong71286Join Date: 2009Post Count: 261]

April 25, 2010 - 11:04 am

AndrewH wrote:

He recons he can gurantee 10% per annum return ATLEAST!, the prob is his Fee is $45,000, he says he will do all the paper work from the bank, solicitors, purchase of the property , looking after the property, rental tentants, insurance Etc. He works with around 8 people, who have been in the investing industry for a long time now. He says one of his people even rubs shoulders with the councils to determine plans for the suburb etc.

Hi Andrew,

Personally I think $45,000 is quite a lot, and even if he can 'guarantee' 10% per annum it would still not be worth it, as you would still be losing money. Rather than spending such extravagant amounts of money, you would be better off spending a few hundred dollars buying reports from http://www.residex.com.au/

Regards,

Kong

[kong71286Participant@kong71286Join Date: 2009Post Count: 261]

April 21, 2010 - 2:19 pm

I'll be attending the 3 day mega conference…

I'm looking forward to expanding my context, and learning as much as I can from the 'gurus'!

[kong71286Participant@kong71286Join Date: 2009Post Count: 261]

April 18, 2010 - 8:04 am

Hi guys,

I have recently finished reading 'Guide to investing in Gold & Silver' by Michael Maloney, a Rich Dad Advisor, and I highly recommend it to all investors out there, especially if they are considering investing in gold/silver

Regards,

Kong

[kong71286Participant@kong71286Join Date: 2009Post Count: 261]

April 14, 2010 - 1:05 pm

Hi mattnz,

Thanks for your words of wisdom

I agree with you… Silver is highly undervalued, and likely to be the best performing commodity in the next few decades – For this reason, I intend to purchase as much silver as possible during the next few years. What are your thoughts on purchasing commodities such as gold/silver from goldmoney.com in comparison to holding physical gold/silver?

Looking forward to hearing from you,

Kong

[kong71286Participant@kong71286Join Date: 2009Post Count: 261]

April 13, 2010 - 11:23 pm

Hi Richard,

No, a good reputation does not mean repeated actions by ASIC – knowing this fact your alarm bell would probably go up, and you would want to do further investigations on why ASIC took those actions on Wayne Ormond, and then you would have to weigh the risks/benefits of doing business with Refund Home Loans. And you are right, you cannot base your decision on what other people say (i.e. just a few very happy franchisees and customers), but you need to do your due diligence

I'm glad you pointed this out, and its good to know that we have Finance Brokers like you who are up to date with the news in their industry, and who educate the public on finance matters – Keep up the great work Richard!

Regards,

Kong

[kong71286Participant@kong71286Join Date: 2009Post Count: 261]

April 13, 2010 - 11:37 am

Hi Terryw,

I understand your time is limited, and its a good thing you are selective about your clients, and making most use of your time

According to the Pareto principle, 80% of a business income come from 20% of its clients, and in your case it looks like you want to focus on this 20% good clients rather than wasting time on the other 80% i.e. tyre kickers

I'll be honest with you – Having only graduated a few months ago I am not intending to apply for any loans for another 1-2 years. For the time being I am happy to continue investing in my financial knowledge, saving $700 per week, and seeking advise about my future plans

Regards,

Kong

[kong71286Participant@kong71286Join Date: 2009Post Count: 261]

April 13, 2010 - 10:35 am

Hi Matt,

I would like to commend you for thinking about investing so early on in your life, and am glad to hear you have so much support available in your family – you are already off to a very good start, and the fact that you have already saved up $25,000 despite only being 20 years old, shows something about your character. Most people your age only care about 'instant gratification' and having fun now, without thinking about the impact their lavish lifestyle will have on their financial future. Once, again I commend you for being different from the crowd…

From what you have said above, I understand you would like to invest but don't know where to start and how to go abouts it. My advice is the same as ouchiemama – 'take it one step at a time'. Before you start investing in properties you need to invest in yourself first (E.g. reading books, watching DVDs, attending seminars) and do some serious/honest thinking (ask yourself what you want to achieve out of investing, have strong 'whys' and set yourself a time frame – but be realistic). By having clarity in what you want, you can then be more specific on what strategy to use, who to target etc… and then you can just go for it!

Hope that helps!

Kong