Hi Guys,Just finished Steves new book $1m in 1 year,Fantastic insight of ordinary people acheiving extrodinary Success,He sounds like a tough Mentor.His problem + Solution = Profit just means that now deals can be done close to home as you re-adjust your way of thinking and stradegy’s not just on 10% plus yeilds.I need to clarify the difference betwwen Finders Fee ( Buyers agent)and Spotters Fee,are they both the same even though they are a capital expendiuture.
I would graetly appreciate response to this.
Yeah, it adjusted my thinking too, just finished it today. I think in the context you’re talking about they are both the same just different names. Buyers agent, spotter, bird dog charge fees for finding investors properties.
The fees involved would be revenue for a spotter/ bird dog/ agent and an expense for an investor. There is currently a debate going on about whether spotting is illegal or not, but there are plenty doing it and both spotters/investors benefit greatly from this service.There is no problem with claiming a spotters fee as long as you don’t involve yourself in negotiations or advertising a particular property. If you are introducing people you will have no problems. I have spoken to Consumer affairs regarding my own activities in this regard and they do not have a problem, but you should probably speak to them yourself to be safe.
What i really want to get straight is, Is it a invoice transaction with GST or Just here are my bank details put the funds in here!!.
Freedom I think this is more of an accounting question re registration for GST purposes. have a read of http://www.ato.gov.au and see if you think you’ll hit the threshold for turnover. Either way you’ll need to declare it as income as well.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
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