I didn’t say I “favoured” it… just that I could think of many reasons for it.

TMA
Veteran Forum Contributor [3794 posts]
Posted 29/07/2005, 11:42:13

Yep. That is why I buy property in a company name. If I want to live in it, I just ‘rent’ it from the company. I have…[Read more]

“Every family is born with a father as the banker.

Master REL

You will find in generally a higher interest rate and much shorter loan repayment period.

Cheers Rob

“Every family is born with a father as the banker.

we’ve found microsoft excel to be the most useful tool

Try it

R& J

“Every family is born with a father as the banker.

Its a pleasure to see you in this forum

Cheers
Rob W

P.S you never rang back

“Every family is born with a father as the banker.

What is it you would like to achieve?

Once you can answer that then a course can be set.

Cheers Rob

“Every family is born with a father as the banker.

futher to steve’s reply is that once you have funds in your corporate benificiary and paid tax @ 30% you then are only holding the funds. If you want to distribute from then on ,you can pay franked dividends to the share holders or wages to the employees if it is a trading co.If it is a trading co then the funds can be spent on deductable…[Read more]

1) pay it down

2) value add

3) capital growth

Cheers
Rob

“A bank is a place where where they lend you an umbrella in fair weather and ask for it back when it begins to rain

quote:when I buyRemember to always ask “who gets paid

Regards,

Steve McKnight

I believe this answer is very important as it applies to the food chain concept

Cheers Rob

“A bank is a place where where they lend you an umbrella in fair weather and ask for it back when it begins to rain

quote:I was wondering if anyone has purchased property with the assistance of any Melbourne based property Investment companies ?

Hi Rick

We never have to date, as we prefer to have total control.The more people along the food chain the more careful you need to be.This is not advice Rick ,only what we do.

“A bank is a place where where they…[Read more]

I

quote: just recently bought a -ve geared property (my 1st IP), I definetely bought it for Capital Gain ie buy & hold, waiting for the price go up. That is the only way I can see/understand at the moment

.

At the moment the property is costing you money reason is expenses are more than income.That is -ve. Should you structure the…[Read more]

Just a thought

quote:Buying these cheap arse properties are not going to make you a millionare.

I presume you are obviously a millionaire to be able to know what won’t work. That being the case it would be great to hear of how you have been able to get where you are

Looking forward to reading your post

Cheers Rob

“A bank is…[Read more]

One of the things we did years ago was visit bookshops in search of information. You will find that there are a lot of books on wealth ,property, shares and mindsets. Over time we have read lots of books that lead you to search for more info again. Still to this day we will visit bookshops and see whats new.Over time you will…[Read more]

This has been the most entertaining discussion so far.

Tails227. I too would love to hear a little more about your uncle & father.

quote:1/How would a 2% increase in interest rates efect a property

.

A property may not sell for as much as when the rates are higher. Or if it is a desirable property it may have no affect.
2% increase…[Read more]

Yep what a great site. We all stand to glean a bit if extra info.There seem to be a lot of doers on this site rather than talkers.Good on ya all

As

Harrison says thanks Steve and all

Cheers Rob

“A bank is a place where where they lend you an umbrella in fair weather and ask for it back when it begins to rain

Evening all

Ursh246

It is quite possible to get a full copy of the valuation done for a lender. You need to locate a lender that will do so and if not it is up to your negotiating skills.A valuation’s cost…[Read more]

quote:
What is so good about having this equity? I assume the lender is more likely to give you more finance if they think you can sell your property to pay off your bad debts?

Very true Gracie.

Personally we have never yet cross collateralised

Enjoy the move out of your comfort zone

Regards

Rob

“A bank is a place where where they lend you…[Read more]

When you insure the house it should cover you for Public Liability.

As Steve says about landlord insurance it can be an avoidable cost.It will add another $200 expence p/a. We send all our tenants Xmas cards and that seems to help as well as making sure your properties are inspected every 6 months and a condition report is…[Read more]

quote:
What are the thoughts on Quantity Surveyors? Any help appreciated.

A quantity surveyor will be able cost depreciatable items for you.This can then be supplied to you accountant.

It depends on whether you are buying new or older places ,whether you are buyin to hold or just resell . Whether or not you even want to…[Read more]

You need to work out what your aim is :ie do you want to make a business out of property’or are you wanting to get only a few?
Do you want to employ people or not?
How much do you intend to make?
Do you want sucession?

These and more questions you need to ask yourself first . It will help you then decide what struture to use.Make sure…[Read more]

one of the best feelings you can have is Knowing that you have a raincoat on underneath

Cheers
Rob

“A bank is a place where where they lend you an umbrella in fair weather and ask for it back when it begins to rain

Some thoughts for you

Any interest on your own home in non deductible , while it is deductible on your investments.

It is possible to rent for less than to buy to own. If the difference is used wisely and religiously then you have a way to fast track.

It all depends on what you want to achieve

Rob

“A bank is a place where where they…[Read more]

What an inspiring list of goals.

Angie – That is a great way to go as it is another form of leveraging and one that can be accelerated as fast as you can drive it.

Regards
Rob

“A bank is a place where where they lend you an umbrella in fair weather and ask for it back when it begins to rain