Forum Replies Created
TMA
Veteran Forum Contributor [3794 posts]
Posted 03/07/2005, 18:58:16I 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, 11:42:13Yep. 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 never owned a PPOR.
Hi TMA
Well thats a good reason thenDo you find it more advantageous to rent as apposed to having your own PPOR?
Badgers r Us
Here is a new quote for you.Cheers Rob
“The secret of getting ahead is getting started. The secret of getting
started is breaking your complex overwhelming tasks into small manageable
tasks, and then starting on the first one.”Mark Twain
1835-1910, Writer“Every family is born with a father as the banker.
OK TMA
“Every family is born with a father as the banker.
Sorry TMA
I don’t have a specific point to make.
Just wanting to start a disscusion based on that sentence.
What are the reasons that you would favour buying appreciating assets in a company structure? Maybe against as well.
As coasty Mike mentioned CG is paid on the total gain. Hi Mike , Terry. Mike apart from holding assets personally do you think that the only other entity should be trusts?
TMA please explain a bit more about lessening the tax implications that you mentioned.Cheers guys
Rob“Goodness is the only investment that never fails.” — Henry David Thoreau, 19th-century American essayist and nature writer
And when buying a property will the interest on a loan taken out by a company be more than a personal home loan.
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.
Hi guys
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.
Hi Michael
Its a pleasure to see you in this forum
Cheers
Rob WP.S you never rang back
“Every family is born with a father as the banker.
Hi Boothy
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.
Hi Tas
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 expences and on it goes.
The structures that exist allow for different outcomes. what outcome you wish for will depend on your structure.
One of the most important things people overlook is the fact that TAX needs to be paid in order to have real net wealth.Cheers
Rob“Every family is born with a father as the banker.
Hi riegaz94
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
Rick & Kirby
quote:
when I buyRemember to always ask “who gets paidRegards,
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 lend you an umbrella in fair weather and ask for it back when it begins to rain
Hi Matduqua
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 deal that income exceeds expenses that is +ve.
When its -ve you are losing on the day,(unless the loss is a book loss ie depreciation), when its +ve you are making on the day. Take your pick.Hope its a help
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
Hi Ireland
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 a place where where they lend you an umbrella in fair weather and ask for it back when it begins to rain
Hi Young gun
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 develop a huge info base that helps you filter out what works , what doesn’t ,what might suit you and what might not.You also need to follow up with ACTION as this is the basis of making it happen.
There is far more than can ever be posted so I wish you a fun journey.
Ciao 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
Hi all
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 means that for every $100k you borrow you will need to find another %2000 p/a in interest if your loans are variable. If they are fixed there will be no change.quote:
2/ A tenent can not be found for a property for say 3 months.
Make sure you have a contingency fund.
Don’t design a way in without also designing a way out.Very important!!quote:
3/ The banks want more security when times get tough (investment doesnt come up to valuation)Regardless of what a property is valued at or worth shouldn’t matter to a lender as long as the repayments are kept up.However should you wish to borrow more with the same security and it has not been revalued higher , then the lenders are really doing you a favour.
Cheers NAIVE 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
Hi All
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
Should I pursue this or is it a lost cause? If we are entitled to it why are they making it so hard to give us the entire report?
[/quote]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 is usually paid for by the the borrower so rightfully it belongs to the borrower.If its what you want and they won’t supply, move on.
Interestingly, last year a property that we purchased was of course valued by the lender,val was supplied to us and the deal closed.Now the property was a 4bed but the valuer (for some reason ) missed that fact and valued it as a 3bed.Now that gave us instant equity of an extra bedroom without doing, or spending a thing!!!!!!
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:
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 an umbrella in fair weather and ask for it back when it begins to rain
Greetings Arnaldo
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 written up.Make sure any problems that the tenants have with the property are quickly followed up , which keeps them happy and can also be an opportunity to check out the property.Self insure youself by having access to funds should it ever be required
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
Welcome Tails77
It’s a great concept Tails77.
Personally I reckon it’s more effective to have one lion and an army of sheep than to have an army of Lions
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
