New deal for the naysayers.... Chester Hill Sydney

Great point,

Thanks for raising this question.

As mentioned, this is not advice we just share ideas just like on this forum we all enjoy.

Everyones accounting needs are different and you should endevour your own research into what is best for your siuation. I am not an accountant, nor will I get involved with an irrospective clause from the bottom draws of the ATO website. Im sure with the experience you have gained over the years you can get the right help from a your tax professional if you dont already know this answer.

Regards,
Nath.

I been doing this long enough to have eyes and ears just about everywhere, not just a finger on the pulse in my areas of interest.
Question you?
This is the Real Estate & investment industry, everybody should question everything.
Caveat Emptor

And btw your accounting "expert" seems to forget that if you claim tax deductions for using a home office, you will pay CG tax on that portion of your ppor. And the CG liability may actually compound over the years, just like the value of the whole house.
If your renting, than that's a different story, as a portion of the rent may become tax deductable.
So people would need to make a few considerations before claiming a home office.


http://law.ato.gov.au/atolaw/view.htm?docid=TXR/TR9330/NAT/ATO/00001
36. Generally, capital gains tax does not apply to a person's sole or principal residence. However, subsection 160ZZQ(21) applies to deem a capital gain (or loss) to have accrued to the extent to which the sole or principal residence disposed of was also used for the purpose of gaining or producing assessable income during the period of ownership. IT 2673 states that as a rule of thumb, it can be expected that where an area of a home is a place of business the capital gains provisions will apply . The calculation of any capital gain or loss is discussed in paragraphs 21 and 22 of IT 2673.
 
Hi PB and Nathan


I would consider myself an active investor (have been doing it full time for 8 or so years) and would be happy to pay $5,10,15k for either of you to find me a property similar to that that has been talked about here or one that represents an excellent investment opportunity. I'm more than cabable of finding my own properties, and I do, but I figure if I can leverage my time or its out of my area, or I happen not see a particular property, or if its because you have a relationship with an agent that I don't have, then so be it. I just want results and I'm willing to pay for it.

So Nathan and PB, Who's up for it??

Nathan, I presume you will as thats what you do.

PB, how about you?.............Go and show everybody how easy it is and earn yourself some extra $$ doing so.

Feel free to pm me
 
Hi PB and Nathan


I would consider myself an active investor (have been doing it full time for 8 or so years) and would be happy to pay $5,10,15k for either of you to find me a property similar to that that has been talked about here or one that represents an excellent investment opportunity. I'm more than cabable of finding my own properties, and I do, but I figure if I can leverage my time or its out of my area, or I happen not see a particular property, or if its because you have a relationship with an agent that I don't have, then so be it. I just want results and I'm willing to pay for it.

So Nathan and PB, Who's up for it??

Nathan, I presume you will as thats what you do.

PB, how about you?.............Go and show everybody how easy it is and earn yourself some extra $$ doing so.

Feel free to pm me
I think this is a bit on the nose!!!!!:mad:

Nathan is associated with you so this is a bit of blatant self promotion.
 
On a final note in closing PB, can I ask what were you doing on your long weekend advancing your investing business? Was it trying to criticise myself? or my investing? Or were you out in the market with your eyes out there everywhere making many prosperous investment decisions?
Have a great evening :)
lol Maybe some of us ole timers (I'm a gen x lol) have a touch a paranoia, but dont mean they aint out to get us. There was a time when I thought the oldies were so paranoid (people like the guys who first owned that nice glass building where the radio plays downstairs), but with time I came to learn why. Always question, always ask.
I really dont like talking much about myself, but since you asked, on the long weekend I went out and looked at some Mercedes Benz toys at Warwick Farm, went out for a drive to the shire to have look around.
Got a copy of BRW to see who's on the rich list.
Talked to people, networked quite a bit. I always like to ring a people I haven't seen for a while (sometimes many years). I recommend it to everybody.
Went to an auction on Sat.
On Monday, low and behold as if by magic, more funds have appeared in the account since Friday. Jolly good!
On Tuesday I did pretty much the same. Network, talk to people. When down to Liverpool and ran into an ole friend, part of the convo was:
P.B. "What ya doin these days?"
O.F. "Had me own RE agency last few years at xxxx"
P.B. "You know I'm always looking lemme know if anything you think is really cheap comes up. No problem if it needs a little work."
Good thing these are not relationships of convenience formed 2 weeks ago. They are all from work type situations, courses, doing deals and always being upfront, ethical and honest. I suggest you all read "On my honour I will".
And of course, I just gained another set of eyes in an area I aint that familiar with.
2 REAs rang to tell me vendors dropped their price (2560), another to request a meeting about a little development I'm thinking of doing.
Another call to thank me for recommending a friend who was selling.
I've spread much business around over the years (to those who are good at what they do), and never ever asked for commissions, kickbacks or special favours.
It's like sowing seeds and planting an evergreen crop that keeps producing never ending fruits over the years.
And at then the of the day...the same magic happened again. Blimey!

Aint life grand, a good evening/morning to you too.


Dash11, I have nothing to sell here, and nothing to offer for a fee.
Some people wont do anything unless there's a fee, others are happy to spread the love.
Some people want to hang on to every single dollar, others have an attitude of abundance.
I have no need to play "mines bigger than yours" because I only care how big mine is.
Sufficient to say that my portfolio does'nt cost me "only $300 a week". I expect it to pay me much more than that.
If your happy to pay 5,10,15k more than me, I have no problem with that.
I know that eventually you have to stop buying, and you'll run out of credit.
If everybody does the same, then sooner or later they cant buy anymore.
And when the cashflow dries up, they will be giving back to the market the extra they paid plus a bit more.
That's why we have a recession, people paid too much in the first place.
I have much patience and there's much more to see in the Shire.
 
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Hi PB and Nathan


I would consider myself an active investor (have been doing it full time for 8 or so years) and would be happy to pay $5,10,15k for either of you to find me a property similar to that that has been talked about here or one that represents an excellent investment opportunity. I'm more than cabable of finding my own properties, and I do, but I figure if I can leverage my time or its out of my area, or I happen not see a particular property, or if its because you have a relationship with an agent that I don't have, then so be it. I just want results and I'm willing to pay for it.

So Nathan and PB, Who's up for it??

Nathan, I presume you will as thats what you do.

PB, how about you?.............Go and show everybody how easy it is and earn yourself some extra $$ doing so.

Feel free to pm me
Dash

It has been suggested that you in fact work with Nathan. If that is the case then your post is self promotion. That is why your post was initially deleted.

If that is not the case the suggestion was incorrect and I apologise.
 
Hi Handy & Geoff

Handy: Its a shame you feel that way. My post had nothing to do with self promotion. If I were that way inclined or if the post was intended to be self promoting, I would have several tags or signatures under my name and at the end of my posts. Further more, I would be a lot more direct and just tell anyone who'd care to listen what I do.
My post was merely a friendly challenge to both nathan (whom is associated with me) & PB (or anyone else for that matter) to find me a “deal” for which I am willing to pay and have a little fun at the same time. Can't see any harm done!, It's all in good spirit.
 
As much as I'm enjoying the bickering between everyone, any chance of another update Nathan?

Cheers
Greg

(P.S. Thanks for posting the thread Nathan. It's very interesting and I'd encourage your detractors to do the same to show their efforts - mainly because I'm interested in reading more of this type of thing :) )
 
As much as I'm enjoying the bickering between everyone, any chance of another update Nathan?
Greg - welcome to the forum. Come along to Rydges at Rosehill this Tuesday night. I think Nathan is going to present this deal to everyone, along with before and after photos. :)
 
Buying run down cheap properties in dud areas is not results. Results is how they perform in the future, not just buying them. Anyone can do that.

These properties will not have any decent cap growth for a loooong time. There's a reason why anything is able to be bought cheap and property is no different.

Collecting houses like this is not achieving 'results'. Its just accumulating dud property in my opinion.

Why would you pay for non results?

Oh....and Nathan. Time for a new accountant me thinks.

I just want results and I'm willing to pay for it.
 
Money's money Evan. I assume you would'nt have touched any of the $25k semi's in Adelaide's outer north in the early 90's which now sell for $180-190k? Pffft what's 600%+ return when you might get a tenant doing a runner every now and again, not worth it right!!
 
You must be talking about Elizabeth etc. Of course i would. And i bet the yield would have been huge at the time.

But you are speaking with 15 years hindsight and you can see the 'results' since then. You wouldn't have been able to claim the 600% appreciation a week after buying them as a 'result'.

Money's money Evan. I assume you would'nt have touched any of the $25k semi's in Adelaide's outer north in the early 90's which now sell for $180-190k? Pffft what's 600%+ return when you might get a tenant doing a runner every now and again, not worth it right!!
 
You must be talking about Elizabeth etc. Of course i would. And i bet the yield would have been huge at the time.

But you are speaking with 15 years hindsight and you can see the 'results' since then. You wouldn't have been able to claim the 600% appreciation a week after buying them as a 'result'.
OK then that's different, I thought your comment on dud suburbs were referring to lower socio economic areas in general. Having said that, people have said that pretty much permenantly about Elizabeth et all and we've still done nicely in recent years. But definitely not 600% in a few weeks you're right. :D

So is it the fact that some of these deals from Nathan are in regional towns that you take exception to as 'dud'?
 
Possibly yes and the fact they are claiming 'results' just from the fact they are buying these places. How can the purchase be a result?

I bought 5 houses on the outskirts of Brisbane in 2001. The results have been nothing short of spectacular since then. Only becasue i bought them at the correct time of the particular cycle up there. They are not in great areas.

Maybe we just look at property investing differently. That's the benefit of the forum is suppose.

OK then that's different, I thought your comment on dud suburbs were referring to lower socio economic areas in general. Having said that, people have said that pretty much permenantly about Elizabeth et all and we've still done nicely in recent years. But definitely not 600% in a few weeks you're right. :D

So is it the fact that some of these deals from Nathan are in regional towns that you take exception to as 'dud'?
 
I bought 5 houses on the outskirts of Brisbane in 2001. The results have been nothing short of spectacular since then. Only becasue i bought them at the correct time of the particular cycle up there. They are not in great areas.
We've done similar in Adelaide. None of the properties we bought were 'bargains' - as for me, I'm not brave enough to buy in regionals.
 
Me either. But i'm not sure its about being brave. Maybe more about what you expect from your property investing.

I wont accept 10+ years of no growth, regardless of yield.

We've done similar in Adelaide. None of the properties we bought were 'bargains' - as for me, I'm not brave enough to buy in regionals.
 
Great point,

Everyones accounting needs are different and you should endevour your own research into what is best for your siuation. I am not an accountant, nor will I get involved with an irrospective clause from the bottom draws of the ATO website. Im sure with the experience you have gained over the years you can get the right help from a your tax professional if you dont already know this answer.

Regards,
Nath.

Hey Nathan

This was a good read and I think your doing a good job. After reading through this post I might try and make an effort to come to the meetings you hold!

Regards,

Raja
 
Hey Nathan, well done mate, looks good.:)

One thing about the advert on RE.com is that they spelt "torrens title" as "torrance title" might want to get them to change it, comes accross a little unprofessional on the agent's behalf.

Boods
 
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