Great information as always. Most BAs shares sucess stories ..but not much about things gone bad. Other people can learn from these stories. Good Luck with your journey mate .Thanks for sharing
Hey Todd, at 51 min mark Jeremy mentions about a trust structure not being cashflow positive for short-term - how long can it not technically 'sustain itself' for it be acceptable to be a trust structure? i.e. 2 years negatively geared say $20k a year? For instance, what's a bank usually going to let your trust structure be negative for? all good if cannot answer because you need to understand the whole picture of income, expenses, portfolio etc. Maybe also a follow up question for Morgan - does the bank does not mind a negative gear property in a trust as much if its showing good healthy capital growth happening, i.e. buy in Melb in trust structure and it has crap yield but great capital gains.
Sometimes the best thing to do is hold what you got and wait. Agent fees plus stamp duty will already cost you a fair bit to sell and buy. Could also look at airbnb for one of the properties if it would create more cash flow. Piss those car loans off! Haha
Sometimes waiting is 100% the right thing to do, but in this case waiting could be attached to a much larger opportunity cost far exceeding any selling fees.
Love Simons view about Melbourne - I agree, it feels like all these buyer agents buying in Melb are making a bubble - call a real estate agent and they will tell you hardly any owner occs buying and more investor companies.
Great questions mate! I think in this case it was advice from Jacks accountant to use car loans in the business to help write off more in tax. If the goal is pay less in tax it kicks the goal, but if the goal is build a bigger portfolio doing it this way absolutely falls short
Sometimes better to lend if sufficient cash for tax purposes as well as keep the cash for future investment purposes OR for offsetting against your PPR if remaining debt as generally not tax deductible
@@pizzaandproperty1246 I hear you Toddy, but i think taking 2 car loans to reduce tax wasnt the best advice. Who started this "Lets purposely lose money to claim tax back" as a strategy? 😅
Dont ever take no for an answer until all options are exhausted. I was told no by 5 brokers. Then told by the 6th i could only get 200k then the 7th broker got me 520k.
Jack seems pretty stretched. You should have 12 months worth of living expenses in cash or LOC. Babies are expensive... child care, mat leave etc. You shouldn't consider buying another property if you have to sell your wife's car for "$10K.
Great information as always. Most BAs shares sucess stories ..but not much about things gone bad. Other people can learn from these stories. Good Luck with your journey mate .Thanks for sharing
Thanks mate glad you liked it 🙌🏼
Great episode as always, Todd!
Thanks mate 🙂 Glad you enjoyed it!
Great sesh team ❤ this is a marathon 🎉
Thanks mate 🙌🏼
Content day by day 📈📈 . Eagerly waiting for the next one .
Hey Todd, at 51 min mark Jeremy mentions about a trust structure not being cashflow positive for short-term - how long can it not technically 'sustain itself' for it be acceptable to be a trust structure? i.e. 2 years negatively geared say $20k a year? For instance, what's a bank usually going to let your trust structure be negative for? all good if cannot answer because you need to understand the whole picture of income, expenses, portfolio etc. Maybe also a follow up question for Morgan - does the bank does not mind a negative gear property in a trust as much if its showing good healthy capital growth happening, i.e. buy in Melb in trust structure and it has crap yield but great capital gains.
Sometimes the best thing to do is hold what you got and wait. Agent fees plus stamp duty will already cost you a fair bit to sell and buy.
Could also look at airbnb for one of the properties if it would create more cash flow.
Piss those car loans off! Haha
Sometimes waiting is 100% the right thing to do, but in this case waiting could be attached to a much larger opportunity cost far exceeding any selling fees.
Really good outlook on things, hopefully can help some more people out there move forward, Love it!
Thanks mate 🙂
Plus to Simon’s selling properties theory which no one really talked about in all the real estate investment videos I watched.
Yeah it’s a solid way to look it selling off assets
Love Simons view about Melbourne - I agree, it feels like all these buyer agents buying in Melb are making a bubble - call a real estate agent and they will tell you hardly any owner occs buying and more investor companies.
Tod I have entered my details. Please fly me to Adelaide :)
Amazing! Looking forward to checking out your situation 😊 hopefully we’re grabbing a pizza in Adelaide soon
Why would you have 2 large car loans? Should only buy a new car if you have the spare money.
Great questions mate!
I think in this case it was advice from Jacks accountant to use car loans in the business to help write off more in tax.
If the goal is pay less in tax it kicks the goal, but if the goal is build a bigger portfolio doing it this way absolutely falls short
@pizzaandproperty1246 Fair point, thanks for clarifying
Sometimes better to lend if sufficient cash for tax purposes as well as keep the cash for future investment purposes OR for offsetting against your PPR if remaining debt as generally not tax deductible
@@pizzaandproperty1246
I hear you Toddy, but i think taking 2 car loans to reduce tax wasnt the best advice.
Who started this "Lets purposely lose money to claim tax back" as a strategy? 😅
Totally agree dude! bad advice from “financial profeshonals” is one of the main problems we solve to help investors move forward
Dont ever take no for an answer until all options are exhausted. I was told no by 5 brokers. Then told by the 6th i could only get 200k then the 7th broker got me 520k.
Dude this is so true! well done to keep pushing until you go the answer you wanted! unstoppable 🙌🏼🙂
I’m in the same position sick of them could you please hare me your broker will pay you finder fee please
Jack seems pretty stretched. You should have 12 months worth of living expenses in cash or LOC. Babies are expensive... child care, mat leave etc. You shouldn't consider buying another property if you have to sell your wife's car for "$10K.
City of Stirling
City of Joondalup
City of Wanneroo
City of Bayswater
Detonate 1960s/1980s vintage, infill on big blocks
Feel like I'm reading a list of your favourite things 🙂
I live in Perth so I see it
Content day by day 📈📈 . Eagerly waiting for the next one .
Thanks mate!