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7 Steps to Wealth : the Vital Difference Between Property and Real Estate.

Author: John L Fitzgerald
Publisher: Newark : John Wiley & Sons, Incorporated, 2018.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
Get the most out of property investment and secure your financial future 7 Steps to Wealth is the only real estate book in Australia endorsed by three of Australia's property billionaires. It shares John L. Fitzgerald's own 35-year proven property strategy, supported statistically and with real life case studies from readers of earlier editions. Now in its 8th edition the book is completely up-to-date with the  Read more...
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Genre/Form: Electronic books
Additional Physical Format: Print version:
Fitzgerald, John L.
7 Steps to Wealth : The Vital Difference Between Property and Real Estate.
Newark : John Wiley & Sons, Incorporated, ©2018
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: John L Fitzgerald
ISBN: 9780730358626 0730358623 9780730358619 0730358615
OCLC Number: 1030038296
Notes: 1 Convert your loan to P & I after 5 years.
Description: 1 online resource (226 pages)
Contents: Intro; 7 Steps to Wealth: The Vital Difference Between Property & Real Estate; Contents; Acknowledgements; Preface; Foreword; Introduction: A fool and his money are easily parted; So whoâ#x80;#x99;s the expert?; So thatâ#x80;#x99;s what this book is all about; Who is John L. Fitzgerald?; Booms and busts, and bad decisions; Becoming a wealth-builder; Becoming a Custodian; Part I Starting points; Chapter 1 Why build wealth?; Why arenâ#x80;#x99;t more Australians wealthy?; â#x80;#x98;We donâ#x80;#x99;t have enough money to build wealthâ#x80;#x99;; â#x80;#x98;Our parents never taught us to build wealthâ#x80;#x99;; â#x80;#x98;Thereâ#x80;#x99;s always a safety netâ#x80;#x99. Â#x80;#x98;We donâ#x80;#x99;t like debtâ#x80;#x99;â#x80;#x98;Itâ#x80;#x99;s an income worldâ#x80;#x99;; â#x80;#x98;Wealth-building is strictly for whizz-kidsâ#x80;#x99;; â#x80;#x98;Wealth-building is strictly for sharksâ#x80;#x99;; Whatâ#x80;#x99;s the solution?; Just think differently: capital, not income; Chapter 2 Why residential real estate?; â#x9C;#x93; Security; â#x9C;#x93; Performance; â#x9C;#x93; Leveraging; What about shares?; What about commercial property?; Meanwhile, the future for housing â#x80;Œ; Arenâ#x80;#x99;t we already investing in residential real estate?; Choosing a home; Choosing an investment property â#x80;Œ not!; Choosing a property for capital growth; Chapter 3 A structure for growth. Okay, so back to wealth-building!How it all works: an overview; Gearing; Cash flow management; Equity growth; The starting point; The beauty of compound growth; How much can you achieve?; What does it take to make the structure work?; Part II The 7 steps to wealth; STEP 1 Buy land for capital growth; What about units?; Land tax; A cautionary tale; Does location matter?; Where should you buy for capital growth?; The benchmark factor; What about regional areas?; STEP 2 Optimise your income; Who rents and why?; Optimising your rental income; Choose the right area: beware â#x80;#x98;bargainsâ#x80;#x99. Charge affordable and competitive rentsRental? But that means tenants!; â#x9C;#x93; Set rents just below the market rate; â#x9C;#x93; Check out prospective tenants the way you would a prospective employee; â#x9C;#x93; Cover the cost of the unexpected; â#x9C;#x93; Get someone else to take on the management tasks â#x80;#x94; and hassles â#x80;#x94; for you; STEP 3 Maximise your tax benefits; What is negative gearing?; What deductions can you claim?; The difference that makes a difference: depreciation; Who wants to pay more tax than they have to?; Need any further incentives?; Positive thinking for negative gearing; The money pit. STEP 4 Finance to build wealthAssessing the value of property; Bank valuations; Caveat emptor: buyer beware; Valuers; Choosing a loan provider; Using a broker; Choosing a finance option; Zero-cost financing; Interest-only loans; Locking in an interest rate; Gearing in action; STEP 5 Aim for affordability; Ups and downs; Who controls the price of property?; Making property affordable for you; The upside of the bottom end; STEP 6 Make time work for you; Time works â#x80;#x94; when you do!; How do you make time work for you?; Keep buying; One step at a time; Knowing your options.

Abstract:

Get the most out of property investment and secure your financial future 7 Steps to Wealth is the only real estate book in Australia endorsed by three of Australia's property billionaires. It shares John L. Fitzgerald's own 35-year proven property strategy, supported statistically and with real life case studies from readers of earlier editions. Now in its 8th edition the book is completely up-to-date with the latest census data, location criteria and growth forecasts. Most importantly the book exposes the difference between property and real estate, proving that it's only the land that appreciates and that the buildings that sit on the land actually depreciate. Indeed 7 Steps to Wealth uses Warren Buffet's secret of compound growth but adapted for Australian property investors. Fitzgerald proves that certain residential land is Australia's best growth asset-and will continue to be given current record population growth. - Unlock the secret power of compound growth and make it work for you - Avoid the common mistakes that most property investors make - Read case studies and testimonials from millionaires using the 7 step strategies - Understand how to safely build wealth in property, be cashflow positive and still get a tax deduction. With Australia's record population growth, there is no better time for Australians to use this proven strategy to safely build wealth for a comfortable retirement, one that doesn't mean relying on government welfare.

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