Hi IB,

Thanks for your post and welcome to the property investing community.

You ask:

quote:
What I am wondering is if anyone has quantified
how much it costs to get going with wraps.
ie. solicitors fees, accountant’s fees, etc.

I’d recommend perhaps doing the first one in your own name… only to see whether or not you like the strategy and…[Read more]

Tara,

I wrote an article about finding a great accountant a few years back.

Download it from http://www.wealthtipsonline.com.au

Re: other members… contact AD as he is standing out like beacon for Qld members who are looking to network.

Regards,

Steve McKnight

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

Dan,

Can you be sure if you have never tried? I wish I had $30,000 of income when I started seeking finance!

There’s always a way when you see the problem and work thru it.

Bye

Steve McKnight

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

Hi,

Yes. I think that the repsonses here have just about nailed it!

DavidU… I think LVR does matter, not at the CRAA level, but at the mortgage insurance level.

Sooner or later they’ll call stumps for you and then that will be it. Then you’ll have to go with non-conforming lenders if you can’t get back to 80% LVR lends.

I deliberately…[Read more]

Hello Belladonna,

What a lovely name!

Thanks for your post and indeed to all who have replied too (especially Ursh246….welcome to the community Ursh!)

We all have to start somewhere as the road to 100+ properties starts with one.

For me it was May 1999… I didn’t own any property at that time, nor did I have much of a clue what I was…[Read more]

Hey FW,

I couldn’t have said it better myself []

Bye

Steve McKnight

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

Hi again,

Hmmm – could you please expand upon your problem of why you couldn’t settle? I’m a little confused.

As for property software… I can remember a post a few months back that outlined what people were using. I recommend using the search function and using the words “software” and seeing what comes up for the last 90 days.

Personally,…[Read more]

Hi,

There is a golden rul of tax planning which is not to buy appreciating assets like property in a company.

This is because companies cannot claim the 50% discount for CGT.

Re: Trusts

As Trustee you decide who gets money, so it doesn’t matter how many beneficiaries there are… at the end of the day you decide who gets what, and if you only…[Read more]

Please make future posts re this thread in the general forum.

Thanks

Steve McKnight

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

Hi,

Am I right in understanding your question?

You currently have a home on which the interest is not deductible and you want to work out a way where it would be?

Well, one option is you could set up a new entity (such as a Trust) and then sell the property to your trust. Of course, the major hurdle with this would be the stamp duty and…[Read more]

Hi,

We have done well out of Nambour in Qld as it seems to be a region that is experiencing good growth.

I understand there is a multi-million dollar refurbishment of the shopping centre in town that is helping the local economy mushroom.

And then there’s the Big Pineapple just up the road that’s sure to pack ’em in []

Bye

Steve…[Read more]

Hi Moneytree,

Thanks for your post and welcome to the Property Investing.com community.

The great power in property is your ability to leverage (ie. borrow usually 80%+ meaning you can get good returns since your capital outlay is low).

If you don’t leverage then your returns will be much lower as a % (since your denominator is higher), but…[Read more]

Hi,

I am just putting the finishing touces on a new product called Wealth Guardian that outlines the different structuring options when it comes to property investing. I expect this will be available by mid-late February.

It is difficult to explain trusts easily, since it is a confusing and complex topic.

Still, I’ll try to give an…[Read more]

Hi,

I have no idea about that area, but tell me three things:

1. How much does it cost to rent an average 3Br home?
2. What is the current median house price?
3. What has been the movement in population over the past 10 years?

Some of these factors can be found for free using the postcode profile review…[Read more]

Hi,

You ask:

quote:
…all i think i am heading in the right direction, what do you think ??

I doubt your plan will eventuate in fincial freedom in the medium term, since you lack cashflow… but the real question is:

Are you getting what you want from your property investing?

If the answer is ‘yes’, then you are making progress towards your…[Read more]

Mike

Let me get this right…

You purchased something fitted out as a biotech lab that you want to turn into a bar, except this plan has been harpooned by the “body corporate” – presumably a committee of other owners of suites / offices on the remaining levels of the building?

I’ll proceed on the basis this is a correct assumption.

I think…[Read more]

Hi CJ,

I have an article in front of me from The Age 14/09/02 titled “Things are looking up in the Latrobe Valley, thanks to a new coat of paint”

It begins:

quote:
“The refurbishment of former SEC houses, which previosuly defaced streetscapes in the troubled Latrobe Valley, has sparked a modest property boom.”

If you are interested in the area…[Read more]

Hi,

I’m not sure about this since I have never purchased vacant land as an investment.

I guess you’d have to ring around various lenders to see what is the best deal you could get.

But why do you want invest in something that has a 0% cash on cash return?

What makes the land you have your eye on so good?

Bye

Steve…[Read more]

Tony,

What is wrong with you?

I have written to you advising that your posts breach the acceptable advertising policy of this site.

Now you blatantly disregard what I have have suggested.

So now you leave me no option but to make an example of you. OK – So be it.

I recommend that all forum members take note of this member as an example of…[Read more]

Well,

From my limited renovation experience I’d say this:

1. You can usually get an immediate discount (even if you are not a tradesperson) by setting up an account with the local stores rather than paying cash at the counter. This has two benefits… 1. You can save your cash and 2. You get a discount []

2. If there is an absolute must when…[Read more]