Forum Replies Created
Ian's distinctions between coaches, mentors and gurus is really helpful.
Out of the 3, I think that the best is a mentor.
They actually know what it takes to get the result you want, and they have a proven track record of doing it themself. Therefore, their advice would be very valuable.According to the latest news, it's a good time to get a home loan for new home buyers due to the recent rate cut.
See: http://www.bigpondmoney.com.au/get-the-best-from-your-mortgage-and-the-banksThe article above also has some good tips for people looking for a home loan, and talks about the different characteristics of different people such as the DIY-er, delegator and researcher.
I suppose your personality also has an effect on how you approach your home loan
Hmm. I think I should re-read Steve's stuff. I don't think I've really delved into his stuff as much as I did with Kiyosaki's work.
From your comments, it seems Steve may give better nuts and bolts info
Thanks
Be clear with what you want.
If you don't write down exactly what you want, then any old property will be good for you.In order to determine the criteria for what you want, that's where the reading and learning comes in. Learn form other successful investors and use their criteria for your own success.
The ABS website may be hard to navigate for that info. You could try calling them up or you could try and work with a market research company (but you may have to pay for that info)
I'd agree with Ashley that when it comes to subdividing, it may be better to get help with it rather than doing it all yourself. You may save money doing it all yourself, but there's the time and energy you'll waste and the learning curve you have to overcome.
If you want to do subdividing on a regular basis and make money from it ongoingly, then fine, you can learn to do it. But if it's only a one-off thing, then getting help may be better.
Early this year I set out to get my own accountant for my businesses and portfolio. For me, number 1 and number 21 were major factors for me. I didn't want the hassle of dealing with the accounting (which bored me and I was not good at), and I wanted to minimise tax as much as possible
Hey Daniko,
Student accomodation has it's benefits – as seen with Hamish's example of immediate positive cash flow.Although your idea of subletting may be challenging, as many landlords don't allow it in my experience. However, if you do enough research and ask around, you may be able to find one.
Good luck!emptyvessel wrote:ummester wrote:….more being sunk into invention and productivity will be beter for Australia overall.We are in complete agreement on this point. This may be the biggest challenge our nation is facing right now. I reckon we all start talking about this more with our contacts, friends, family and colleagues. The media and politicans will catch on later. We really need everyone discussing this and thinking innovation and productivity. Those two concepts together will turn this mining windfall into a long-term prosperous outcome for all Australians.
I would like to propose the following;
Let's create 5 ideas on how we can dramatically boost innovation and productivity in our country.Here are my 5 just plucked out of the air;
1) ALL scientific and associated product engineering research receives a 200% tax benefit.
2) A 200% tax benefit for any business that successfully brings a product developed from (1) to market to be sold anywhere.
3) Creation of a simple to understand and widely publicised process for linking (1) with (2) to speed products to market
4) A national ideas forum equivalent to TED (www.ted.com) but focused on Australian innovation and productivity. Every school, university and registered business is mandated to participate. Funded by the Future Fund and the NBN.
5) Direct NRAS-style incentives for any individual investing funds into (1) or (2).All I ask is that you work with the ideas and refrain from any critical/negative analysis at all. Let's be creative, innovative and productive! We clearly have some very smart people here, I am sure we can come up with at least one really good, workable idea that could change our nation for the better.
Comon, gimme your "5"!
Personally, I'm a fan of the TED ideas forum that is based in the US. It'd be great if we had that kind of thing here in Australia. Apparently there are some TEDx events in Australia (which are similar to regular TED events but smaller).
Apart from just the forum teaching ideas, it would be a great networking tool for innovators and entrepreneurs to join forces.
Sounds great. Having useful tips for people via a real estate blog is a great way to drive more people to the site
Hey Lesia,
I haven't bought/invested in self storage units myself, but I was seriously considering getting into it recently after reading some books about the benefits of it.I think one of the benefits that stood out for me was the potential passive income stream from it, as well as the lower cost to invest as compared to other forms of property investing.
Joe,
Funny comments mate.I think it just goes to show that we need to be smart when dealing in with the real estate industry.
Know what your criteria is in advance, and don't get carried away by the fluff!Hey Dennis,
I'd agree that you could take a look at suburbs your familiar with. However, as a caveat to that, I would suggest to check up and make sure that those suburbs you know are actually investable.If you do your research, you may find that some suburbs you know are BAD places to invest in.
All the best!Hi,
I'm based in Sydney and haven't had much experience with solicitors on the Gold Coast.
I'd suggest, though, that when choosing a solicitor, you interview them first to see if they're the right fit for you. Ask if they specialize in JVs, wraps and so forth, and ask for any references that they can give you.
This can ensure that you don't pay too much for a generalist solicitor.
I'd agree that 95% lends never left. You just had to be able to do the research to find them!
It may just be more hype about them now – and you happened to be amidst it.
I reckon 95% lends are useful to get your property easily – and perhaps even get more properties faster for your portfolio
I haven't heard about Real Estate Investar before – but I checked it out on Google, and it seems that its a software based in NZ.
I wonder though if it has capabilities to work for the Australian context? or just NZ
That's something you should take into consideration I suppose
Yeah, iphones are the craze in Aus – many companies in property are making apps too for the iPhone.
An iphone compatible version of PI is a great idea… what about an app too?
In my opinion, my biggest annoyances with some property managers is the lack of communication
You mentioned these points:
*property managers never phone back
*emails are never responded to, or if they are, its days and days laterAnd it's those ones that annoy me the most…
Meeting up and creating a mastermind group or mentoring group is a fantastic way to learn VERY quickly!
I've seen some meetup groups in Sydney posted up on the internet, but haven't had the time to join them regularly myself.
Instead, another way that I stay motivated and informed, is to use forums such as this one, or attend yearly conferences, and read books (like yourself). These suit me much better in terms of managing my own time – but still getting the benefits of learning from others!
Good luck
I don't claim to be an expert on CGT, however I do want to point out that I did like these 2 options as mentioned above:
1) "It may be possible to reduce your taxable income by making a deductible contribution to your superfund, and this will therefore reduce the CGT payable"
AND
2) sell the property and hence get the CGT during a low income year (especially a year in which you may lessen your work and income)
