New Property tax laws

Kia Ora,

Being a few days as issues with the internet & being able to log on have got in the way.

In the mean time I have being carrying on with my study on a Rich Dad coaching course to see where I am personally being held back. It has meant re reading books I have already read & suddenly you see new information.

One part that stood out was a small section on tax law changes in the US in 1986. Now with NZ Government is now proposing the same here in NZ.

What happened in the US was those who had relied on the tax breaks & were negatively geared (or cash flow positive) came out very badly. It caused prices of properties to drop & those in the know were able to benefit greatly by buying properties that had reduced in price & were cash flow positive (or positively geared).

Will the same happen in NZ. No one knows but I wouldn't be surprised. So much that has being carried out by NZ governments in last few years to 'benefit' the people or 'tax' the rich has actually followed the US pattern of only benefitting those in the know.

So right now I am trying to find ways of being able to finance my way into property deals with little or no cash in from me, so I can take advantage when this likely happens.

That is why even though at times it is a struggle, I continue with my financial education & that means usually thinking or doing things that do not fit with the majority. Then I have never being someone who does what everyone else does just for the hell of it.

One of the reasons people don't succeed in becoming rich & helping where they want to in a real & meaningful way is they just want to conform. They have an idea, but when it gets hard listen to what everybody else says who have never made it themselves.  I have being getting that of late.

My answer to one person in particular who says people I am quoting are wrong. "They are Billionaires. What are you?" If you are going to have any chance of succeeding then listen to those who have made it, not someone who is more focussed on a job.

That is their reality.

It is even harder when you are trying to move your mindset to the right side of the cash flow quadrant & everything is going wrong, then people who are scared of you succeeding, because what you are doing scares them are in your ear. It's nto working, get a job. You are aiming too high.

Well if you are going to dream, dream big.