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Another Intro

Discussion in 'Introductions' started by Horizon, 6th Dec, 2007.

  1. Horizon

    Horizon New Member

    Joined:
    31st Jul, 2007
    Posts:
    4
    Location:
    Brisbane, QLD
    Hi All,

    I have been reading this forum and Somersoft since May, and I have finally come up for air after going through the “Analysis Paralysis” that has been referenced. I love the fact that there is an introduction area on this site. I have seen familiar names posting on both and I look forward to discussing ideas.

    So a bit about me. Numbers not exactly accurate, but good enough for a snapshot.

    I am 39 Married, 2 way cute kids 9 & 7 (B&G). Living bayside in Brisbane. I work in Computer software at a company that I am one of the owners. No IP’s, 450K equity in PPOR, though a 400K debt. We have 25K (after tax) surplus after a generous budget and PPOR repayments.

    We have a family trust with a company as trustee which owns the stake in the software company listed above. This is then distributed, after paying some minimal expenses. My wife also earns a wage outside of this.

    We are looking at our strategy options now. This follows speaking with some mortgage brokers (recommended from SS), my existing and prospective accountant (again SS), and Financial Planners. Also thanks to some members of both forums that I have PM’ed and have been quite responsive even though they don’t know me and I asked some questions that could have been found in posts (Thanks Rixter). I am heading to the Navra seminar this Saturday in Perth on frequent flyers as I couldn’t attend the Brisbane event. I am also going to the Lincoln session next Wednesday in Sydney (I travel a little with my work). I have attended BIG and the SIG panel recently. I have also been meeting with a private wealth management company that specialises in direct equities.

    Where are heads are at:

    1. Really liked Michael Whyte’s strategy and I have been modelling our situation with his great spreadsheet (Thanks Michael). This is forming a strong plank of our strategy with regards to debt recycling of our PPOR mortgage.
    2. Bit nervous on the current returns being offered from Navra, looking at alternatives, and whether I can structure a LOC to cover the holding costs for the first year until I can get to the unrealised gain of direct equities or MF, with the CGT benefit.
    3. Would like to use our current (or augmented) structure as an investment vehicle that can use pre tax income from the business to invest in quality assets. Plan is that this becomes self servicing.
    4. I am getting splinters (you know where) from sitting on the fence on investing in shares or our first IP. With 850K value of our PPOR, and no shares perhaps balance is the order. Of course, there may be the opportunity to do both.

    I will post more specific questions, but wanted to introduce myself first.

    Look forward to speaking with you soon.

    Cheers,
    Horizon
     
  2. Nigel Ward

    Nigel Ward Team InvestEd

    Joined:
    10th Jun, 2005
    Posts:
    1,172
    Welcome on board Horizon!

    You mention some nerves about level of future NavraInvest returns. It would be a good question to put to Steve at the perth course.

    He is always very happy to answer any questions.

    (I suspect the answer will be something along the lines of "you can't predict the future, but we're confident the dollar cost trading methodology will work in a variety of market conditions".)

    But please ask and then let us know the answer you've received.

    Best regards
    N.
     
  3. alanc

    alanc Member

    Joined:
    28th Nov, 2007
    Posts:
    11
    Location:
    North Coast, NSW
    hi

    'Bit nervous on the current returns being offered from Navra, looking at alternatives, and whether I can structure a LOC to cover the holding costs for the first year until I can get to the unrealised gain of direct equities or MF, with the CGT benefit.'

    Dear Horizon,

    I've got the same question/concern about Navra. Did you get an answer?

    alan c
     
  4. Horizon

    Horizon New Member

    Joined:
    31st Jul, 2007
    Posts:
    4
    Location:
    Brisbane, QLD
    Hello Again,

    Nigel: Thanks for the welcome and the tip in asking Steve. I will post his response.

    alanc: I will be attending the event this coming Saturday.

    Cheers,
    Horizon
     
    Last edited by a moderator: 6th Dec, 2007
  5. alanc

    alanc Member

    Joined:
    28th Nov, 2007
    Posts:
    11
    Location:
    North Coast, NSW
    Hi again Horizon,

    Yeah, I realised after I'd pressed SEND that the seminar wasn't till this weekend. Hope the flights don't kill you. And let us know.

    alanc
     
  6. Property WA

    Property WA Active Member

    Joined:
    31st Jul, 2007
    Posts:
    44
    Location:
    Perth, WA
    Hi Horizon,

    Welcome to the forum. Sounds like you've got a solid platform on which to build. Well done.

    One thing you didn't mention, and it's the boring part, is personal insurances?

    Whenever I see 'young kids' and one parent earning the main income stream (I'm assuming here) it's a question that comes to mind. No doubt you've got them in place but might be something to look at if you're about to increase debt and take on more risk.
     
  7. Horizon

    Horizon New Member

    Joined:
    31st Jul, 2007
    Posts:
    4
    Location:
    Brisbane, QLD
    Hi Property WA,

    Thanks for your post. Personal Insurance is an area that we haven't covered as well as we should. Thanks to your post, it is now in our strategy document, in it's own section, but without a lot of detail...

    I do have quite a large life insurance policy, but this is to cover our share in the main company, should the unthinkable happen. This is part of the partner agreement to ensure that there isn't any undue financial stress on the business a well as my family.

    I am thinking, that I need to look at income insurance though.

    Thanks again,
    Horizon