[miikeParticipant@miikeJoin Date: 2008Post Count: 111]

March 9, 2010 - 9:21 pm

Some basic's for ya…

Make a decision on the strategy for the property.

i.e. Is it an investment or a home.

There are pro's and con's for each type of structure and can be costly depending on your decision. i.e. Trusts, in your name, etc…

I also recommend having a checklist of things to look out for. There can be many hidden issues with properties and unless you are looking for them you will not know the true cost until you take ownership. Checklists should consist of the small things to look out for, the idea at the end of this is to work out a cost benefit analysis of the property and if it is a sound financial decision.

You wouldn't buy a sport membership if you found out later that if required further costs in order to get into the stadiums.

Strategy is everything in investments, regardless of the market, shares, currency, warrant, bonds, property, options, etc…

Every strategy has pro's and con's, but essentially includes the following:
(1) Research/Analysis
(2) Specific Cost Benefit Analysis
(3) Entry
(4) Analysis
(5) Exit

Make sure you have these completed before entering, you wouldn't go buying shares blindly on the decision of a friends hearsay, so have a secure way of exiting if the shit hits the fan.

Some examples of property strategies are:
(1) Buy and Hold
(2) Buy off Plan, Rent
(3) Buy, Rent
(4) Flipping
(5) Buy, Renovate, Rent
(6) Buy, Renovate, Live in it
etc….

Do your own research and discuss with a financial planner if this decision is right for you….I'm not a financial planner!

Cheers,
Miike

[miikeParticipant@miikeJoin Date: 2008Post Count: 111]

January 14, 2010 - 12:45 am

Great place, I'd recommend avoiding the Sunday crowed!

I'll try and join one of the meetings on return from traveling in march…if they are still going

Cheers,
Miike

[miikeParticipant@miikeJoin Date: 2008Post Count: 111]

January 13, 2010 - 12:26 am

Nice post.

I'm starting a new internet business idea. There is nothing that exists out there like this and will really be a powerful site for the average person to take advantage of.

I'll elaborate on this once I am starting to develop the idea…may even get some people as testers if interested due to the nature of the site.

Cheers,
Miike

[miikeParticipant@miikeJoin Date: 2008Post Count: 111]

January 10, 2010 - 5:17 am

Hi aaabbbccc,

This is an excellent initiative.

I would like to participate in a social gathering to have a discussion about investment.

Unfortunately, I am not going to be in Melbourne until March….going traveling.

Can you PM me with your email and I'll see if thins will be an ongoing or another meeting in March.

Cheers,
Miike

[miikeParticipant@miikeJoin Date: 2008Post Count: 111]

January 4, 2010 - 10:50 pm

Just to add.

Only Loan specific accounts will affect your ability to obtain finance.

e.g. Investment Loans, Property Loans, Business Loans, Lines of Credit, etc..

Saving Accounts are seen as a cash account by an organization providing financing. However, not the only thing factored in during due diligence for financing.

Cheers,
Miike

[miikeParticipant@miikeJoin Date: 2008Post Count: 111]

December 29, 2009 - 11:01 pm

Hi Guys,

Honestly, looking for hot spots will just confuse you and make you chase your tail.

Yes, hot spots can be found, but generally by the time they have been declared a hot spot, so many investors are snatching up property that it causes false momentum in the suburb, that cannot be sustained which causes the value of the property to remain dormant or devalues in the short term.

Instead, try specializing in a few suburbs of interest that you find is generally a stable area (i.e. very minimal drop in price when hit by GFC or a downturn, etc).

Some questions you should ask yourself and know is:
– What do buyers want in the area
– What renovation changes give you the best return, i.e. more bang for you buck
– Which changes can give the best returns in the area, i.e. structural vs cosmetic
– Which streets return better prices than other streets. i.e. too close to shops will not return a value as great as it has issues with cars parking there often. i.e around 50mitres down one street may return better value.
– What changes are occurring in the area. i.e. shopping centers, big chain companies (i.e. gyms).
– Are there any new infrastructure being built and is the council investing in maintenance of the suburb.

As you can tell, knowing these things will provide you with the greatest power when purchasing a property for renovation, as they will determine the success, and not relying on a shit talker to tell you that a suburb is a hot spot.

You really need to know your shit so you can dilligently know that an individual property is a great deal or not.

Remember, that the way of making a larger profit  in property is buying at the right price!

…don't take my word for anything, I am not a financial advisor!
…do some research and learn as much as you can before you make investment decisions, they can cost you years of urnings if not done right!

Have a big 2010!

Cheers,
Miike

[miikeParticipant@miikeJoin Date: 2008Post Count: 111]

December 9, 2009 - 1:49 am

Check out:

https://www.propertyinvesting.com/resources

Look under: Out Of Stock / Past Events

Cheers,
Miike

[miikeParticipant@miikeJoin Date: 2008Post Count: 111]

November 26, 2009 - 5:31 am

There are plenty of different structures available.

Either way, when you transfer land/property from the name of a person into another company or person. You are affectively changing ownership of the title, thus stamp duty will apply.

Please seek further information from a licensed professional that specializes in this. http://www.chan-naylor.com.au may be a good place to start.

Cheers,
Michael

[miikeParticipant@miikeJoin Date: 2008Post Count: 111]

November 26, 2009 - 4:59 am

An accountant can help you discuss the movement of the property as per ATO regulations, however a lawyer is the appropriate person to speak to regarding asset protection.

Ensure the structure matches your aim, be it asset protection or reduction of tax.

Cheers,
Miike

[miikeParticipant@miikeJoin Date: 2008Post Count: 111]

November 10, 2009 - 11:14 pm

The best thing you can do is work out your budget and stick to it as everyone is telling you….

I recommend also having a test budget to see if you can stick to it with a mortgage and make sure you are not going to be in trouble later on…assuming your wanting to buy a property

Cheers,
Miike

[miikeParticipant@miikeJoin Date: 2008Post Count: 111]

November 9, 2009 - 6:08 am

If you want stats…most of the time there will be a cost. i.e. A Residex reports or a magazine such as API.

Remember, the best stats will be your own due dilligence performed on the area…

You need to know:

– what improvements will increase value or rent
– what types of properties attract the buyers or renters you want
– etc…

not just if the area is worth buying into

good luck!

Miike

[miikeParticipant@miikeJoin Date: 2008Post Count: 111]

September 3, 2009 - 1:38 am

Honda Integra VTI-R 98SE

Has a hatchback, but looks like a coupe, good for stuffing shit into it during renovations, has done me well….dreaming of an upgrade to an SR5 with all the extra's …Maybe another property or two and I'll invest in myself lol!!!

…miike

[miikeParticipant@miikeJoin Date: 2008Post Count: 111]

August 6, 2009 - 11:45 pm

Thanks Guys.

Cheers,
Miike

[miikeParticipant@miikeJoin Date: 2008Post Count: 111]

August 6, 2009 - 9:46 am

It is a unit

Cheers,
Miike

[miikeParticipant@miikeJoin Date: 2008Post Count: 111]

July 28, 2009 - 12:51 am

Don't forget to perform thorough due diligence.

Factor in what you can afford. e.g. If the rates were to increase 2%…

Cheers,
Miike

[miikeParticipant@miikeJoin Date: 2008Post Count: 111]

July 28, 2009 - 12:41 am

Easy things:
– Bed, Lounge, Hallways – Repaint, Polish floors (pending floor type) and new curtains.
– Redo cupboards with new flooring and paint if needed

Hard things (non-cheap):
Kitchen – Cheap Cab's, new benchtop (stone or laminex, pending your target and goal), new flooring, splashbacks
bathroom – new cupboard and basin, clean and possibly replace old tiling, new flooring,

Cheers,
Miike

[miikeParticipant@miikeJoin Date: 2008Post Count: 111]

July 22, 2009 - 4:05 am

Thanks Richard,

I'll investigate this…

Cheers,
Miike

[miikeParticipant@miikeJoin Date: 2008Post Count: 111]

July 22, 2009 - 3:10 am

Hi Richard,

What is a DFT?  I haven't heard of this before…

Cheers,
Michael

[miikeParticipant@miikeJoin Date: 2008Post Count: 111]

July 22, 2009 - 2:00 am

Thanks for the replies guys.

As per the above:

I am 25, single, happy what a wonderful world…

Looking to setup my structure in order to have asset protection, ownership portability and affective tax.

I Have:
– 1 PPOR, under my name
– Multiple Shares, under my name

I am looking to use the PPOR and have borrow against the equity to the total amount possible. Use the equity as capital for the next property acquisition and have the new loan in under my trust structure.
I will also be looking at swapping my PPOR to an IP, unfortunately it will have to remain in my name and cannot be moved to the trust as I F^CKED up by taking the FHOG, what a bad mistake.

In the neer future I am looking to:
– Acquire further properties, renovate and either, flip or hold/rent…depending on the property etc.
– I am also looking to trade shares and currency (forex) under my trust.

My understanding is the best structure for me would be to have:
– DHT which owns all assets (shares, properties, forex) and;
– Business which would own the DHT (with myself as the director, beneficiaries, etc)

– This would allow me to avoid stamp on portability, if I was to sell part of the business later;
– All costs would be classed as business tax, not income.
– I would be protected from any future girlfriends/gold diggers (yes, they are around!)

Any thoughts…

This is all very appreciated as I want to fill my head with as much understanding of the best structures (and understanding of them) before I go to discuss this with an accountant.

Cheers,
Miike

[miikeParticipant@miikeJoin Date: 2008Post Count: 111]

July 15, 2009 - 3:03 am

Hi,

Check this thread…

https://www.propertyinvesting.com/forums/property-investing/help-needed/4328089?highlight=%22aussie+rob%22

Cheers,
Miike