Hey Bushranger

Is the company the only beneficiary? I would have thought as a family trust it should have a few people as well – I know mine does!!

Having assets in a trust is a good way to protect your assets. You can also minimise your tax by paying any income to those on a lower bracket – or to your company where the rate will be 30% (I’m…[Read more]

Hey muppet

That’s normally my number of swings before I actually make contact with the ball!! Needless to say, last time I played golf I got sunstroke!![xx(]

That was quite a few years ago now.[]

Cheers
Mel

Greg

In regards to a Sydney property, I think that you’ll find that you can rent a much much better place for heaps less than the mortgage payments. Even for a rent to own, lease/option deal etc. if it were me, I’d be trying to recoup at least my costs for offering that sort of deal. Do your sums, but you might be better off renting, and using…[Read more]

I am yet to do my tax return for this year []. I have been recommended from a number of sources, including this forum that Tony Commisso is very good. Others also recommend Dale Gatherum-Goss if you are willing to travel to Melbourne.

Cheers
Mel

PS. Are you going on Saturday? There might be some others there who can give advice on people they…[Read more]

Hey Kewl Dude

Thanks for that! Now I don’t feel quite so inadequate![]

Cheers
Mel

Ah muppet, but six what? Fingers? thumbs? sheep?[][][]

Cheers
Mel

Simon, I’m with you on this one.

My understanding is that unless you are in business, any trip to purchase is not deductible, unless you already owned some in that area, and also had a look at them while you were there.

As to when you are ‘in business’ of property owning, would be up to an accountant to help here. I think the argument can be…[Read more]

Hi barrance

If you have a look in this forum for the post titled ‘bonus chapter’ Steve talks about interest rates in this. That might help to answer some of your questions.

Cheers
Mel

Hey doogs

I thought your idea sounded feasible, but only if you could handle having all that equity tied up, and the CP unencumbered. That’s why I did not comment. I have lots of issues with banks and others credit, as I too have joint ventures, so any new loan involves the bank examining every one of them’s loans etc. Pain in the @#$$

As for…[Read more]

Hey Arty, me too!! It said hit the dot, and I figured they were all dots, and I was trying to colour them all. Then….. I noticed that there was one black one, and I worked it out. I was -12 by then, so I restarted, and got 31. But our mouse sticks, and so I quit!!

I like Fishy better – our keyboard is good, and I’m determined to try and eat…[Read more]

Hey Fudge

You basically pay it forever, or as long as you owe the money anyway.

Although what the banks tend to do is give you a five year IO term, after which it reverts to P&I, and is a 25 year loan or something like that. If you want to keep it at IO, you just renegotiate with them for another term, or refinance to another bank.

Hope his…[Read more]

Thanks Simon, you’re a champion.[]

BTW, did you notice my softly, softly approach this time?[] I was not as certain on this one.

Cheers
Mel

Hey Fudge

I think it depends on how many properties you own – and the resultant paperwork nightmare etc. But to get around that, I’m hiring an employee to do it for me.

Personally I would buy as many properties as i can as fast as I can. If they all make money weekly, then they look after themselves, and you can also participate in any capital…[Read more]

Hi Shirley

Did he state why they were not tax deductible? We have claimed all reports that we have done in the past.

Cheers
Mel

Hey muppet, look, I’m a Silver Member too. Yay for me. Who would have thought. I’d like to thank my Mum, my Dad, my oodles of puppies, um, well, everyone for this honour.[][]

Cheers
Mel

In the books when Kiyosaki talks about ‘insider trading’ he clearly defines what he means. There is the insider trading that Rene Rivkin was convicted of – that is illegal. The insider trading that Kiyosaki talks about is where he or his friends CREATE the company, and then take it public. They are the ‘insiders’ that have basically created the…[Read more]

He’ll have to do a separate post about each individual rat. Then every time one moves, ****s, scratches, sleeps etc. Should be good for a few hundred at least!

Cheers
Mel

Hi Mike

We have just installed floating timber floor in 4 of our investment properties and 1 I bought for my brother. It works out to be quite expensive, but is long lasting, and easier to clean that carpet. I think an added bonus is that things tend to bounce a little more on the wood than they do on tiles [], so there’s less breakage.

In my…[Read more]

D’oh! Didn’t check that one!

Takes profit back to $3263.

Cash on Cash Return = 3263/40000 = 8.2%.

As Terry says, doesn’t take Cap Gain in.

Cheers
Mel

Luckyone

Personally, I think that posting that sort of comment is good, for the one posting and for us. If we think/know it to be different, we can offer alternate opinions. It can also make us question what we believe.

If I believe something is true, and I post it, I am more than happy to be corrected. If I believe it to be true, I will…[Read more]