Hi,

Presumably we are talking about Henry Kaye here?

I noticed that he is featured in a front page story about the ACCC and ASIC doing investigations.

You know, a lot can (and has) been said about Henry Kaye. But I think it is a very long shot to suggest that he is responsible for the property bubble (as put forward in The Age).

Remember that…[Read more]

Hi Doug,

Thanks for your post.

quote:1) Is the Deposit that is used to purchase an Investment Property tax deductible?

No – it forms part of the cost of your property.

quote:2) Is the amount of cahflow received that goes into paying off the loan on an IP also tax-deductible, or is it purely the amount that is used to pay off the interest rate…

[Read more]

Hi,

There is some good advice here. Ultimately you need to trade the passive:active nature of yourself with the passive:active nature of your rental manager.

The problem that I see investors making is that they think buying the property is the hard part. Any chop can sign a contract, the real skill kicks in when you try to achieve above market…[Read more]

Hi Erika,

I guess sucking up never hurt… but in this case it won’t do you much good unfortunately.

Thanks to everyone who has posted thus far.

My reason for making the post was just to put some balance back in the forum. It seems to me that too many people were focusing on why they can do it and coming to the conclusion that it must be…[Read more]

Hi,

He’s a lawyer and probably more expensive than the average conveyancing clerk, but all our NSW deals are done via the offices of Tony Cordato.

Ph: (02) 9290-2773

Tell him I sent you as I am trying to get a free lunch out of him []

Bye,

Steve McKnight

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Remember that success comes from doing things differently.
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Steve to the rescue!

Still, here… just about to upload a free bonus chapter from the book re: mitigating investment risk.

I come to the forums many times a day… it’s just that I’m also trying to get the Wrap Library completed too!

Thanks for caring!

Steve McKnight

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Remember that success comes from doing things differently.
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Hi,

Here is my response to Terry Ryder’s articles which I have submitted to Neil Jenman (at his invitation) for publication on his site:

>>>

Thanks for the opportunity to comment on Terry Ryder’s articles as published on your website.

I thank Terry for his comments, as I feel his heart is trying to protect those that might be disadvantaged by…[Read more]

Hi,

This article was brought to my attention last night. I immediately called Terry to offer him the professional courtesy of getting the facts right before making claims that might be wrong (something he did not offer me).

We had a long chat and I left it that he was going to conduct further research before either standing by his claims or…[Read more]

Hi,

It would pay to check this with the State Revenue Office, but my understanding is:

1) All you need is an intention that you will live in it. To this extent there is a substance over form approach to the grant. Before you get too creative, we’re talking $7k here and, to point out the obvious, defrauding the Commonwealth is a crime.

If you…[Read more]

Hi,

All good points and action is being taken to correct this.

Thanks for your concern.

Steve McKnight

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Remember that success comes from doing things differently.
**********

Hi,

Just clarifying here…

We are moving from Snitz forums (on a asp platform) to new forum software (on a php platform).

What all this means is that the PI.com tech heads get to drink lots of coffee at weird hours while we sleep. In the end we will all hopefully benefit from a faster and much better website.

It shouldn’t be too much longer.…[Read more]

Hi,

Thanks for having the courage to make your first post! Welcome to our community and I hope that we are all able to learn from your (life and investing) experience in the future.

I think you raise an excellent point about fear, and it’s this issue that I’d like to pass a comment on.

To me, investing success is about finding a system that…[Read more]

Hi,

If you are adopting a buy and hold strategy then cheaper properties will help you to maximise yield, as rent and prices do not raise at comparative rates.

For example, a 3Br home in a regional area might rent for $180 per week and be worth $90,000. A 3Br home in a metro area might rent for $250 per week, but be worth $250,000!

As such, if…[Read more]

Hi,

Motivational stories are always welcome because they inspire us to ‘have a go’ and think about pushing beyond our comfort zones.

Yet, when oush comes to shove, there is no substitute for taking action – as there is no room in investing for armchair experts.

‘Would of, could of and should of’ are words you don’t want to use. Instead ‘I did…[Read more]

Hi,

I thought that I’d jump in here as:

1. I know the Mackay area reasonably well (i’ve lived there for a short while and that’s where my wife is from and her parents remain!)

2. I actually looked at a similar property some years ago (near the gooseponds / Mt. Pleasant area).

So having said that, my observations were:

A. The block that I…[Read more]

Hi again,

OK – I’ve had a chance to check out the figures and I agree doogs that there is an error.

For what it is worth, the purchase price in one earlier addition was $250,000, but it paid too negative a spin so I adjusted it back to $230,000. Anyway, this seemed to have slipped through – my fault.

Anyway, the figures should read:

Likely…[Read more]

Hi,

Yep – we know about this.

There used to be a forum called Meeting Point but it was taken down due to issues of people advertising in a way that might have broken ASIC requirements.

I’m looking into it and will re-establish this forum, hopefully in the very near future.

Bye,

Steve McKnight

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Remember that success comes from doing…[Read more]

Hi,

Thanks for your post.

I’ll have a look at this and get back to you soon.

Cheers,

Steve McKnight

**********
Remember that success comes from doing things differently.
**********

Hi,

The critical figure you mentioned was:

quote:total cash expenses 23759 (-6033)

How many of these properties could you afford to own? Re: depreciation… read: http://www.propertyinvesting.com/depreciation

What doesn’t make you rich will end up making you poor.

I’d be looking elsewhere if you wanted a positive cashflow return.

Bye,

Steve…[Read more]

Hi Mel,

To me, the measure of how much you know is how much you help others.

Thanks for your valuable input.

Regards,

Steve McKnight

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Remember that success comes from doing things differently.
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