Forum Replies Created
Angie!_____________
Good on you !! Congratulations, that first one is sooooo hard to do. As a wonderful friend of mine said to me “you have moved through a lot of fear….”.
Leigh______________
11 Sec solution or rule is:
(weekly rent / 2) * 1,000 = Max buy priceIt gives a yield of around 10%, and yes, same numbers that you mentioned. It is a great filtering tool as the first of the many steps of due diligence.
A while ago I heard an agent tell me that he had all of these “out of town” buyers paying exactly the 11 sec solution price for houses, even when it was possible to negotiate lower !! It did occur to me that maybe the purchasers didn’t have the benefit of actually knowing WHY they needed to use that rule…. Mmmm…. maybe they overheard it at the pub ! [
]cheers
the B
Ty
due to a “plethora” (isn’t that a great word) of reasons:
- transfer interstate
- death
- sickness
- separation
- financial woes
- divorce
- YOUR great negotiation skills
i.e. TERMS
especially don’t discount the last one. If you are going with the ‘triple win’ philosophy (Vendor, Purchaser & Agent all walk away happy) it is amazing what you can achieve.
cheerio
the Bruce [
]Hi Terry
Good call (! [
]), but, the info on changes was from two of our advisors who are in touch with a number of policy makers.You may / may not recall that a bill that enabled entity taxation was defeated only just before last election. If it had gone through trusts would have had to register for TFN’s and would have become taxable entities, unlike the situation now where (for instance) family/discressionary trusts are the conduit to distribute assessable income between their beneficiaries.
regards
Bruce
AD
are you saying the Elliott waves occur in the property market too ??
Mmm is this a dumb question??
the Bruce [
]hi Leigh
Wellllllcomne to PI.com [
]what a great forum name !! (are you really ????)
In answer to your question, have a look at :
https://www.propertyinvesting.com/strategies/wrapsthat should get you started.
Also, searching on “WRAP” should bring up a post or two [
]cheers
The Bruce
PS: Do you (or your legal advisors) know anything of the effectiveness of trusts being reduced in the UK ?
AD
remember…. “Smell the Roses!!” [
]Congratulations and good on ya maaaaaaaaaaaaate!
The B
Hi 111111
Do you realise that is 63 in decimal??
But I digress, I did a search for you :
http://www.businessmall.com.au/cache/item-28public.html?cache=noThere are some others that I have heard of, but I can’t recall the names, (sorry)
You also should address that practical aspect of all this in that you should talk to your solicitor. The law and policy with respect to trusts is shifting sands. I have heard that there is a general movement in the policy makers to lessen the effectiveness of trusts as has apparently happened in the UK. So, you need to talk to someone who can research the latest info for you.
cheers
The B [
]Hi Tamara
how about adding some info like your rough time frames for investing remotely and returning too.
Bruce [
]ps: is Brunei pretty ??
Hi AD
you are very kind.
In the reality that we are manifesting in this community:
- everyone helps each other out,
- no one’s input is worth any less that anyone else’s (as everyone has a different ‘take’ on it),
- we all get to grow together.
Bruce
ps: If you aim to keep learning new stuff, surely you must always be a newbie ! [
]Hi AD
Yes I will be helping out in Melb this year, it would be great to meet up in person !
Now, is it just cause I am a junkie ??? No, actually I really liked the game where I got to be a lender and exorcise all of my finance angst [
] (Beware “Honest Bruce’s Mortgage Brokers”, loosely associated with “Honest Joes Valuations” [}])Thanks for all the info.
Mmmm, I reckon that on behalf of the huge number of the folks that you have helped (incl. me), a big thankyou for spending your time here, especially since money and resources are infinite… and time….. is not…..
TTFN
Bruce
“Gotta go, cat’s stuck in the printer…”
Ally
sounds like you are not only on the right track, you are cruising along it [
]There may well be good reasons why they offered you that advice, i.e. leverage in with small deposit, don’t buy your own home and invest instead.
If you get a chance why not cross examine her/him a little and see what come out of it?
Remember, in life experiences are neutral, we decide if they are positive or negative….
TTFN
Bruce
Semesteve
to give you an idea of a timeframe, our experience thas been that it takes a few years to build a solid business and relationship with your lenders.
R.Kiyosaki (All Hail…… – sorry! I really do think that he has a fantastic message, but it has been a long day and my sense of humour is just getting away with me right now [
]) mentions that he allows about 5 years to build a business to the stage where it can pay him. The rest of the time he is supported by other interests, and of course, originally that was his J.O.B. that he talks about in his books….the Bruce [
]hi Hiu
Mmmmm, well after six days I am glad that I found the time to read, digest, and find some constructive things to say !
Don’t be too fussed if you don’t get an answer on this forum straight away. There are a lot of really “happenin'” investors who check here regularly, but many of them are too busy actually doing deals to answer all of the time; unless your questions are specific (i.e. can answer while doing 5 other thing& drink your cuppa ! <grin>)
Anyway, after reading one of your other posts mentioning elements of discounted cashflow analysis, I reckon that you probably have the numbers pretty well sorted….. [
]Given that, is the issue really one of management ?
If so, Steve’s Wrap Secrets reveled deal swith a lot of the issues and is really good all round resource. I have also heard the Rick Otton’s Wrap pack is good. There was a post reviewing both some time back, so go do a search.
Australian Property Investing Masters is a “must do”.
Building a relationship with an agent whom you trust and can safely empower to spend your money up to level “x” on maintenance, etc is great. We have a couple of remote places we manage ourselves, but nothing more than 3 hours drive away. Mmm I reckon that AD and a few other folks will read this and laugh about that tiny amount of time [
]Structuring is covered at the Oz PI masters event, but Steve McK & Paul Harper releasing a product called Wealth Guardian in the next month or so that should be invaluable in getting the comcepts into your head. The notes that were provided at the event were EXCELLENT and helped de-mystify a great many misconceptions; and the new product is an enhaced version of them.
I guess that it is worth reading other folks thoughts on the event to see what came out of it. So go search the data base again.
Anyway, howzat ?? Hope that I have helped out a bit…..
cheerio
the Bruce [
](And now for your viewing pleasure, I will get into the swing of having a catchy last line….)
“Luck is the meeting point of preparation and opportunity” – loosely taken from Erasmus, a Roman scholar
Hi Karen
As I have said to a number of folks recently, look at Steve’s Wrap Secrets Revealed when it is available. The content is HUGE! [
]the Bruce
Hi Gordy
Welcome, welcome to PI.com ! [
]All depends I am afraid….. everyones circumstances are different.
I started out with hummungous credit card debt and a line of credit maxed out, but, I had a job that threw of enough $s (in the lenders assessment) to support other investment and allow me to service all of the bad debt.
Made a decision to only do deals in excess of the interest rate on the bad debt, else pour money into paying off the bad debt.
2 1/2 years later all is resolved and we have a property portfolio.
My feeling here is that if I can mend my ways, anyone can !!! (though I must tell you that there is probably a business somewhere else in the universe that has gone under because I finally learnt to spend less that I earned…) [
]best of luck and fun on the journey…
the Bruce
Semesteve
Anything really worth achieving takes effort
I have had similar conversations, with lenders whom we have established good relationships, as to when they think that we can do that. It is very interesting hearing their take on it….
The good news is that it is possible [
]Bruce
]
]
]), but, the info on changes was from two of our advisors who are in touch with a number of policy makers.
]
