Hi r_windows!
Just a quick note for yo on mortgage and deceased estates.
http://www.nmddata.com.au is a real estate listing site that lists only these type of properties and has some great deals.
Check it out when you can!
On the topic of setting yourself up for investing. I am considering setting up a DT and have heard that setting up a Trust will allow you to borrow more money, as you can go to another lender if the first one rejects you.
Is this correct or would your borrowing power be the same if the IPs were kept it your own name?
r_windows wrote:hi again…im half way through rich dad poor dad and was intrigued when the author was explaining setting up a corporation for tax advantages and asset protection…. would anyone recommend doing this or setting up a SMSF, what are the strengths and weaknesses of both.
I am wanting to learn more about accounting and financial statements and also the law and the tax advantages/loopholes as advised in rich dad poor dad.
I am currently studying commerce (1st yr) at uni thinking of majoring in property and finance and was wondering what peoples thoughts about chosen professions would be… property manager, funds manager, stock broker, financial planner etc?? Im mainly interested in tax advantages/loopholes as i find this topic alot of fun. Put simply what job would u choose if u could start all over again… preferably something in the property market as i find this most interesting.
hi every1,
r_windows, i was a property manager for about 6 months, from mid 2006 until early 2007. Unfortunately, i worked in a badly managed workplace, though the job itself taught me a lot about the property market. You mention you are mainly interested in loopholes. This is something i didnt learn a lot about in my time as a property manager. I now consider myself at least reasonable at evaluating the rental return on a property, esp. in south australia/adelaide. i left my position because in the 6 months i was there, i had learnt all that i was going to. Hopefully this helps you with some insight into what you want to do… It may also interest you to know that you do not need a degree to do prop man. and that it is generally only low – middle income.
Regards,
James
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