Forum Replies Created
What about Western Union?
Most newsagents are agents…???…
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi,
These properties by themselves are neither good or bad.
The question to ask is “how will these properties deliver on my investing goals?”
Some things to look out for:
Property One: Watch out for the vacancy rate, management costs and body corp fees as they can really sink your cashflow.
Property Two: Is there market demand for a property such as this? What is the market rent? On a 80% lend it would be cashflow neutral at best, in which case your relying on cap. growth… how likely is this?
Property Three: Negative cashflow with depreciation benefits… hmmm, another capital growth property. Sure, you get a long term lease, but you are also locking yourself into a fixed rent for 5 years.
I make these observations to stress that the cash/profit outcome from investing in property must be related back to your underlying financial plan.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi Daniel,
Thanks for your post and I’m delighted that you enjoyed the book [exhappy]
What I would like is to ask if you can point me in the right direction of a book, seminar or website or whatever, that details on how to flip properties here in Australia.A ‘Flip’ is simply a property transaction that has a simultaneous purchase / sale date.
While the theory behind Flips (buy and sell higher) is a pretty straightforward, it’s really a niche rather than a wholesale market.
I don’t know of any specific products or seminars, which is why flips are perhaps best learned in the market place, with the aid of some thorough legal advice.
If you pioneer a process though it might become a good information product for you [wink].
Finally, a few words of caution:
1. Remember that there will be double stamp duty (and possibly triple stamp duty if NSW stamp duty changes are brought in!). This makes many flips uncommercial unless there is an appropriate margin.
2. If you regularly flip then your gains will be treated as income rather than capital gains (no 50% exemption).
3. It’s a strategy that works best when the market is buoyant and there are plenty of buyers. I’d be more cautious now the market seems to have changed.
Best wishes,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi,
Very funny! [biggrin]
Where did you get those Wealth Tips Tapes???
Hang onto them, they’re collector’s editions!
I’ll write more about the goal after 9th May.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Well,
Big W hey? I didn’t know they had placed an order… still these guys are not booksellers as such.
At the time of writing I am unaware of any book chain that has discounted it. Still, it’s sure to happen eventually though.
Thanks for the heads up…
Bye,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Let’s move on please.
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi Bec,
A life ban is a life ban.
All future posts will, sooner or later, be deleted and profiles you sign up with will be locked.
Your computer’s IP address is tracked on each post, so we can trace it back easy enough.
It’s time for us all to move on.
Bye,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
OK. Enough said.
I accept the criticism and agree that removing someone from the forum is a drastic and last step.
I did it in public for two reasons:
1. So that people wouldn’t wonder where Bec went. FYI, my original post was a copy of an e-mail I sent Bec.
2. To make it an example that continual and unrelenting personal attacks and defamatory comments will not be tolerated.
Still, while it didn’t work out, I nevertheless wish Bec much happiness in the future.
It’s time for us all to move on.
Bye,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
OK,
This has gone to the appeals tribunal and the verdict is…
…life sentence has upheld.
I contacted Bec previously and asked her to adhere to the rules. I’ve deleted her inappropriate posts. I’ve edited her inappropriate posts. In the end though, if I can’t rely on people to follow the rules then its time to move them on. I’ve done it before and no doubt I’ll do it again.
It wasn’t the differing opinions that I was worried about. No, it was the personal slander that was totally unacceptable.
And as I said, enough was eventually enough.
Those of you who agreed with Bec are encouraged to continue posting alternative views – just make them polite and constructive rather than full of scorn and sarcasim.
As for other members crossing the line, and in particular Pisces. I believe that he was responding to personal attacks more often than not – however, I’ll continue to monitor the forums and when things get out of control I’ll take the necessary action – which is what I did with Bec.
Onwards and upwards for us all.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
OK
This topic seems to have gone a little left of centre.
It’s time to move on.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Bec,
Whatever…
Go on believeing what you will – I’ll worry about the business of helping people create wealth.
Have a nice day.
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi,
Since everything that I say on this topic seems to be misquoted and taken out of context, the only comments I have to make are:
1. 4 people in the MAP have acquired more than $1m in r/e in well under a year. This was mentioned to MediaWatch, but they decided not to use it because it blows their argument out of the water. Others in the MAP, with less real estate, have nevertheless substantial profits.
2. The three people selected by TT as part of their ‘Millionaire Challenge’ (their title, not mine) are entitled to the following:
A. Online mentoring for a year
B. A ticket to one of my seminars
C. A selection of products that I have writtenThey are in fact NOT part of the MAP!
3. Due to personal circumstance, the TT online mentoring began in late Jan 03, and given Media Watch rang up at the start of March – that’s why not much had happened to date on that front.
4. Media Watch told half truths and then pick and chose their way through the answers to mount an argument that was high on hype and low on substance. But why let the truth get in the way of a good story? Hypocrites!
5. I’m now writing my second book that takes the story of the MAP and presents it in its full, warts and all, glory. It is due for release later this year.
Bye,
Steve McKnight
P.S. No pills for you!
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi,
Two things for you to consider:
1. If you don’t have money then look for someone who does!
2. There are many ways to buy a property and leave little money in the deal. Check out this link: https://www.propertyinvesting.com/strategies/creativefinancing.html
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi,
FHOG & Aussie Property
As per Chans post, it seems that the only property that knocks out eligibility for the FHOG is Aussie Property.
A person is not eligible if they or their spouse (including de facto spouse) has had a relevant interest in any residential property in Australia (emphasis added) prior to 1 July 2000, whether they live in it or not.Re: stamp duty in NSW
Reviewing this document , is seems that owing offshore property does not imact your eligibility for stamp duty exemptions / concessions under the First Home Plus scheme.
From the NSW mini-budget:
Today I am pleased and proud to announce that the Carr Government will abolish stamp duty completely for almost all first homebuyers.There will be a complete exemption for homes costing up to $500,000, with the concession phasing out between $500,000 and $600,000.
So, it seems the landscape may be changing, so be sure to stay alert to changes as they happen.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi,
Rick Otton was selling them a while back… 1300 888 450
Tell ’em Steve McKnight sent you [wink]
Bye
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
I can’t help but strongly disagree.
We are taxed to the absolute hilt in this country – and one of the platforms with the introduction of GST was that stamp duty was going to be phased out.
Not only is this not the case, now we have a situation where a new tax will be introduced when a property has been sold.
And this particular tax, one on the sale of property, is fundamentally wrong in every way. What happens in a situation where a property keeps pace with inflation, say over 5 years, and then is sold? It will exceed the threshold and be taxed, yet no real gain will have been made.
Further, if one investment property is sold to another investor, then:
Investor A pays stamp duty on the way in
Investor A pays stamp duty on the way out
Investor B pays stamp duty on the way in, on a property that is being already taxed on the way outThis is like GST without any input credit!
No, I’m all for equality across the community and those well for help those who are not – but I can’t abide by this crazy nonsense of taxing people more to hide the chronic inability of governments to govern.
The property investors of NSW need to take a stance and say enough is enough.
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi,
I can think of two options:
1. Call in and pick one up from the office. We’ll be open until 5pm but call first 03 9897 1477
2. We could try and courier one out to you… again, call the office to see what can be done.
Bye,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi,
My understanding is that so long as your are not charging a commission for the sale (only a fee for research and passing on information as it were), or acting as an agent for the sale (ie. instructed by the vendor to find a buyer), then you should be OK.
Would be wise to obtain proper advice though.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi,
What this may mean is that investors will be inclined to refinance rather than sell, since that way profits can be accessed without the payment of stamp duty.
This may be OK for some, but if the additional borrowing is used for paying lifestyle expenses then it is a recipe for absolute financial carnage (as a result of the tax implications)!
Further, more debt means more risk.
In a boom market the government’s policy shift could be passed off as a speed bump and may even cause prices may rise (supply shortfall as investors refinance rather than sell).
However, in the current environment where the headlines are already doom and gloom, this sort of policy may be the tree trunk that snaps the property camel’s back.
Time will tell. Maybe commonsense will prevail.
Bye,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi Tim,
Welcome to the forums mate. Glad you enjoyed the book.
Surely this can only lead to disaster for NSW property investing. Investors will simply head for other states where the laws aren’t so draconian.
Someone with some sense needs to sit down with the Carr government (and all others for that matter) and outline that the way forward is not to tax more but run an efficient government.
Once upon a time it required skill to govern, nowdays policitcal inefficiencies are covered up by higher taxes.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
