Total Members: 153,790

Steve McKnight

  • After receiving a barrage of legal threats, it was just easier to remove the posts without prejudice.

    – Steve

  • Yep – this old chestnut!

    I suggest you search though the forums as plenty has been written on it.

    Highlights:

    > If you have maxed out your borrowing in your own name then you won’t be able to leverage your borrowing ability elsewhere. Maxed is maxed.

    > As Terry has said, Trusts cannot borrow in their own right (they are not separate legal…[Read more]

  • Yep – this old chestnut!

    I suggest you search though the forums as plenty has been written on it.

    Highlights:

    > If you have maxed out your borrowing in your own name then you won’t be able to leverage your borrowing ability elsewhere. Maxed in maxed.

    > As Terry has said, Trusts cannot borrow in their own right (they are not separate legal…[Read more]

  • Yep – this old chestnut!

    I suggest you search though the forums as plenty has been written on it.

    Highlights:

    > As Terry has said, Trusts cannot borrow in their own right (they are not separate legal entities as such), but the Trustee usually can (see Trust deed permissions)

    > Trusts cannot distribute losses, so buying -vely geared property in…[Read more]

  • Hey Jeremy,

    Thanks for making this post. Heck, you might just like staring at stats and spreadsheets more than me!

    I agree with your points, especially:

    a/ Real estate tends to not perform longer than it performs, but the growth period while performing are impressive.

    b/ Transaction costs make it unfeasible to enter and exit the market, so it…[Read more]

  • G’day Jaxon.

    Hmmmm. Seems like you are after a manufactured growth strategy.

    Well, there are lots of them on offer, but the question is how many of them make profit at today’s prices, rather than rely on continued growth?

    The best advice I could offer you is this: What will make you the most money, in the quickest time, for the least risk, a…[Read more]

  • I guess I mean a lawer usually makes a good lawyer, but that is not necessarily the same as a good business person.

    And perhaps you and I see the use and role of an accountant differently. You seem to narrow the application to compliance. That would be the same as saying that a lawyer is really only a word processor, or a filing…[Read more]

  • Well, let’s agree on what we agree on: that accountant’s cannot give legal advice.

    As for the rest: lawyers, in my opinion, usually run good legal practices (small businesses), but otherwise make poor accountants, business advisers, and financial planners.

    Just look at government: beset by ex-lawyers who argue for the sake of arguing, while the…[Read more]

  • No. I wouldn’t, that’s true. I went to a lawyer and got good advice and a tailored document. But accountants don’t offer to do wills, as far as I know! Maybe that is an emerging opportunity for them.

    Here’s what I’ve found happens pratically though re: trusts: accountants tend to work with a good lawyer (or major law firm) to get access to their…[Read more]

  • I think we’re just going to have to disagree on this one Terry.

    Regards,

    Steve

  • This might be one of those professional demarcation issues.

    I’ve always used an accountant to arrange my new structures.

    Whomever you choose, make sure they’re experienced and knowledgeable.

    Regards,

  • This might be one of those professional demarcation issues.

    I’ve always used an accountant to arrange my new structures.

    Whomever you choose, make sure they’re experienced and knowledgeable.

    Regards,

  • Amir,

    Thanks for clarifying. If you go into a project with the intention of ‘turning it’, say a renovation or subdivision, then it is unlikely to qualify for a CGT discount, as you may hold it for <12 months, and even if you don’t, your intention is not to hold it for long term gain, but to buy-improve-sell, and so the profit is likely to be an…[Read more]

  • G’day Justin,

    Biggest hurdles?

    If you want to own that many properties you’ll need to get your structuring and finance sorted, or else you will reach a glass ceiling pretty quickly and not be able to keep buying. Of course, you’ll need your own capital for deposits too.

    Here’s a conundrum: You’ll be unlikely to acquire that kind of property…[Read more]

  • Amir,

    They are right! You cannot distribute a loss from a trust, so to access the (so-called) benefits of negative gearing, namely to offset the income loss from the property against your other taxable income, you will need to buy in your own name.

    Are you wanting to negatively gear?

    Bye,

    – Steve

     

  • Hi,

    Sorry to hear about this!

    It does sound like a structural failure of the external building, which is typically an Owner’s Corp matter.

    I recommend getting a copy of the governing document, ascertaining whether there is a sinking fund, and then heading off to a friendly lawyer to seek further help. Getting a builder to attest to the issue…[Read more]

  • Dear Community,

    It is my professional opinion that anyone considering dealing with Nathan Daly or any of his Acumen organisations would be wise to exercise extreme caution and perform a thorough due diligence. A brief google search will reveal much.

    I would also caution people to research carefully the legitimacy of his claims, and watch out of…[Read more]

  • Dear Community,

    It is my professional opinion that anyone considering dealing with Nathan Daly or any of his Acumen organisations would be wise to exercise extreme caution and perform a thorough due diligence, including searches on ASIC registers.

    I would also caution people to research carefully the legitimacy of his claims, and watch out of…[Read more]

  • Dear Community,

    It is my professional opinion that anyone considering dealing with Nathan Daly or any of his Acumen organisations would be wise to exercise extreme caution and perform a thorough due diligence, including searches on ASIC registers.

    I would also caution people to research carefully the legitimacy of his claims, and watch out of…[Read more]

  • Dear Community,

    It is my professional opinion that anyone considering dealing with Nathan Daly or any of his Acumen organisations would be wise to exercise extreme caution and perform a thorough due diligence, including searches on ASIC registers.

    I would also caution people to research carefully the legitimacy of his claims, and watch out of…[Read more]

  • Load More

Steve McKnight

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