Hi Stuart,

Some time ago I researched the foreclosure market here in Australia to see if I could apply the information contained in some of John Burley’s product, such as his ‘Fortunes In Foreclosures’ and also his book.

What I found is that privacy laws here in Oz are a lot more strict than in the US, which makes some of the ideas somewhat…[Read more]

Hi,

Just be careful not to become confused between investing and lifestyle decisions.

If your goal in financial independence is to own your own home, then owning rather than renting might be appropriate.

In my case, Julie and I chose to rent because we wanted to accelerate our investing success and weren’t planning to live in the CBD in our…[Read more]

Hi Watto,

The software will automatically pick up what posts you have read and alert you to new ones by placing a blue folder as opposed to a buff or yellow coloured one when there are no new posts.

You can also see who made the last post and when.

The idea is that each post is logged or filed in sequential order (oldest to newest) so that…[Read more]

Hi again,

Thanks for your fantastic feedback – especially posters who have written about things that they do not like and would like to see changed.

I share some of your frustrations – particularly the part about the cursor in the ‘Free Newsletter’ box and also posting when not logged in.

I will pass these on to Eugene asap as areas to fix…[Read more]

Tara,

I agree with Terry’s point.

Why sell? You can always just redraw and use those proceeds to invest.

Tax deduction is still available and you are not uprooted from your home.

Regards,

Steve McKnight

Hi Corey,

Lots of questions here – what I plan to do is address them in the next newsletter that I write.

However, for the time being I can say that there is a pre-GST lease in place until 2004.

I have purchased the property in a trust / company structure, which is registered for GST.

Loan is with the NAB based on either 70% or 80%LVR (still…[Read more]

Hi,

Re: Qld property

I had to cut a chq for $18,000 for stamp duty on 21 units I purchased in Qld for $530,000 before settlement – which is not until October!

This was news to me as in Vic. stamp duty is payable on settlement.

Just another reminder about the different laws in different States and the everlasting education as a property…[Read more]

Hi,

I understand the nature of this uncertainty and cannot provide any hard and fast rules, except to say:

1. There is no tax law that specifically deals with wraps, and as such the information available is subject to opinion based on other the nearest legislation and case law.

2. In tax you need to establish a reasonably arguable position.

As…[Read more]

Simone,

It’s true… it is difficult to comment on what you are doing wrong when you don’t provide an outline of what you are doing.

However, if it is of any comfort to you, I look for properties in regional rather than CBD areas.

The question is not ‘do these properties exist’, rather it is ‘where do they exist’.

Try searching the Internet at…[Read more]

Good morning,

WOW! This forum is only a day old and already there is plenty of great information. Thanks to everyone who is already contributing.

As far as the role play for this first post goes, here are the answers to some of the questions that have been asked so far:

Light Industrial?

When I inspected the property in the early afternoon…[Read more]

Hi Mark,

Congrats. You are the first one to the forum.

This will be a good exercise for you since you haven’t purchased property before and I think you are on the right track.

To answer your questions…

Asking Price

$50,000

It is currently tenanted on a month to month basis at $120 per week. Tenants have good references, but there is no…[Read more]