[RodCMember@rodcJoin Date: 2002Post Count: 335]

September 30, 2003 - 11:40 am

G’day Hot Rod,

I haven’t done any LO’s (so my opinion is probably worth nothing []) but I would have thought that most are done without the involvement of everyday RE agents. I would think their lack of enthusiasm is based on a lack of knowledge. If this is the path you want to follow you’ll probably have to find someone who’s already doing LO’s to guide your or else make your own system.

Rod.

[RodCMember@rodcJoin Date: 2002Post Count: 335]

September 30, 2003 - 5:26 am

Hi there,

I think you mean Quantity Surveyors.[]

This question has been asked a few times recently, If you do a search you’ll find plenty of recommendations. Personally, I’ve been pleased with the results I got from Deppro.

Rod.

[RodCMember@rodcJoin Date: 2002Post Count: 335]

September 30, 2003 - 4:09 am

Excellent post Steve,

I don’t agree with everything in your book but I agree 100% that the opportunites are out there. I’ve found several in the last few weeks which more than meet the 11 second rule.

Unfortunately most of the knockers here are focussing on the 11 sec rule and trying to apply it in their own backyard (suburban Melbourne or Sydney), where it often doesn’t work.

Human nature being what it is those that say it can’t be done are probably right – for them. I say it can be done and I’m going to do it.

Thanks for the book and this fantastic forum.

Rod.

[RodCMember@rodcJoin Date: 2002Post Count: 335]

September 30, 2003 - 3:35 am

quote:

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A crash can never happen again

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Never say never!

Rod

[RodCMember@rodcJoin Date: 2002Post Count: 335]

September 28, 2003 - 11:29 pm

This may vary from State to State, but you can probably get your solicitor to request that the deposit funds be released. This will be done through the buyers solicitor and the buyer is not obliged to agree.

Rod.

[RodCMember@rodcJoin Date: 2002Post Count: 335]

September 26, 2003 - 10:01 pm

I agree with Simon, I’ve used Deppro for a couple of IPs which are greater than 12 years old and was very pleased with the result.

Rod.

[RodCMember@rodcJoin Date: 2002Post Count: 335]

September 26, 2003 - 5:57 am

I agree with the blonde (Sue that is).

There’s no reason you should have to touch that $50K provided you meet all of the lenders other criteria (deposit, serviceablity etc.)

Rod.

[RodCMember@rodcJoin Date: 2002Post Count: 335]

September 26, 2003 - 4:55 am

Hi there,

No way, they shouldn’t be charging you a finders fee for an existing tenant. Also as you’ve purchased through them you may well be able to negotiate a discount on the management fee.

Rod.

[RodCMember@rodcJoin Date: 2002Post Count: 335]

September 24, 2003 - 8:11 am

Hey Arty,

Your work sounds just like mine.

Hang on, so does your home – maybe we’re twins[?]

Rod.[8D]

[RodCMember@rodcJoin Date: 2002Post Count: 335]

September 24, 2003 - 8:01 am

Bandit,

It certainly can be done, but I don’t think you’ll find them in Brisbane (or any of the capital cities) unless you can get very creative.

Rod.

[RodCMember@rodcJoin Date: 2002Post Count: 335]

September 24, 2003 - 7:54 am

Hi Pinky,

You’re going to hate this answer but “It Depends”.

Really you need to balance out what your aims are at this point in your investing life. If it fits your aims and you’re confident of the growth potential and willing to fund any losses (though with various deductions these may be ver small) then go for it. If it doesn’t fit your criteria then move on to something that does.

Personally, I’ve done very well out of some -ve geared properties that I’ve got, these have given great capital growth. I’m now using the equity in these for +ve cashflow IPs as I can’t keep buying -ve ones (the bank won’t let me).

The 11 second rule is just a filter. At the moment if a property doesn’t easily pass it I won’t buy. However IPs I’ve bought in the past don’t qualify and I can certainly see that I will buy some in the future that don’t pass either.

Rod.

[RodCMember@rodcJoin Date: 2002Post Count: 335]

September 24, 2003 - 2:42 am

Hi Bob,

I didn’t actually add a new posting, I just edited an old one to get rid of the email address and I think this bumped this topic back to the top again.

I had a great trip – spoke to lots of people and learnt heaps. There’s only so much you can learn via a computer screen. You get a much better feel for any place by meeting locals and walking the streets.

Rod.

[RodCMember@rodcJoin Date: 2002Post Count: 335]

September 24, 2003 - 2:30 am

Battz,

Great job, very inspiring.

Arty, they are out there. But they’re certainly harder to find and you may have to go further afield. I’ve got offers in on a couple at the moment (no, I’m not going to tell you where [])

Rod.

[RodCMember@rodcJoin Date: 2002Post Count: 335]

September 23, 2003 - 10:04 pm

I wouldn’t have thought being rentals and an offshore investor would preclude you from having a LOC. You might be able to get a split loan – part P&I part LOC.

Some of the banks in NZ will pay some of your legal fees as well, I don’t know if this applies in your case, Mini, as you already own the IPs but it’s worth asking the broker about.

Rod.

[RodCMember@rodcJoin Date: 2002Post Count: 335]

September 23, 2003 - 1:09 am

The amount of tax payable on the income will depend on how the trust’s income is distributed. Also doing this will mean you lose the PPOR CGT exemption.

Rod.

[RodCMember@rodcJoin Date: 2002Post Count: 335]

September 22, 2003 - 5:12 am

Mini,

You’re a legend []

Rod.

[RodCMember@rodcJoin Date: 2002Post Count: 335]

September 15, 2003 - 5:01 am

Mmmm…. Pinky,

What sort of movies have you been watching[?]

Rod.[8D]

[RodCMember@rodcJoin Date: 2002Post Count: 335]

September 14, 2003 - 10:27 pm

Hi Marybeth,

This has been discussed here a few times, If you do a search on the forum you should be able to find some answers.

Generally though it would be better to purchase +ve properties in a trust structure. If you purchase in a company you’ll be up for the company tax rate on all income.

Rod.

[RodCMember@rodcJoin Date: 2002Post Count: 335]

September 14, 2003 - 10:17 pm

I seem to remember a similar “outcry” about this time last year about FHOG being used for million dollar properties. I think this must be when the latest figures are released.

Funny how the stamp duty hasn’t been really mentioned since the state election campaign, the politicians have no incentive to reduce it. They like the revenue too much.

That airbrushing thing is quite interesting, can’t say I’m surprised though. Sooshie, I think your cynicism is well justified.

Rod.

[RodCMember@rodcJoin Date: 2002Post Count: 335]

September 10, 2003 - 9:33 pm

Hi Casey,

Probably best to put together a plan to pay out the current debts as quickly as possible. The interest you’re paying on these isn’t tax deductible and the repayments will be affecting your serviceability for other loans.

While you’re paying these debts off take the opportunity to do as much research as possible (this site is a good starting point). Owning your home outright will probably give you a good equity base to start off with.

regards

Rod.