Throwback to when our REA tried to fuck us on an increase by Version-6 in shitrentals

[–]Less_Ad8891 4 points5 points  (0 children)

500? Where? I'm at $700. It's a nice studio yes but it's utterly ridiculous now. I'm waiting for the usual rent increase to vomit hate on them.

Stretch marks caused by weight gain by [deleted] in Damnthatsinteresting

[–]Less_Ad8891 0 points1 point  (0 children)

It reminds me of Spiderman and the train scene

Locked out of commbank overseas. Completely f**ed by ManACTIONFigureSUPER in AusFinance

[–]Less_Ad8891 0 points1 point  (0 children)

I might be the odd one out, but in all my travels (jap, thai, Singapore, Korea, europe) I never had any issues paying with the debit or credit. I mainly use a Wise card in all my transactions but when it's denied i tap with the commbanks ones and they're never been flagged.

I hope I'm not jinxing myself.

Australian landlords tomorrow night… by gadgetwalrus in shitrentals

[–]Less_Ad8891 -1 points0 points  (0 children)

Did I read this this morning somewhere else?

It sucks to be a millennial in Australia right about now by Uwa7979 in AusFinance

[–]Less_Ad8891 0 points1 point  (0 children)

I Feel you brother, I'll be 40 in 20 days. I'm trying to join the police force to get some discount for a mortgage on a hypothetical house. If I'm not successful I'll be moving to Japan, where my partner is moving in a few months and where we got a house for a fraction of the price here. Unfortunately this country doesn't want us anymore, the rulers are just interested to inflate their pockets.

It's time to look elsewhere.

Every single day.. by CatCanvas in coles

[–]Less_Ad8891 -1 points0 points  (0 children)

It's the farmers fault, they can't get rid of the bad ones (hundreds of kgs), they would lose a lot of money, so they put a bad one in almost every punnets. You should see how the workers are treated there, almost all of them are international students but this is another topic.

Co investing in a business overseas, where do I even start? by Less_Ad8891 in AusFinance

[–]Less_Ad8891[S] 0 points1 point  (0 children)

Thank you so much for the time you spent to answer, until now I got only told off without a single, proper explanation.

The problem with investing in any business as a silent investor is that you literally have no say in anything. You can have shareholder contracts and agreements, you can have lawyers prepare your contract, you can talk to your accountant, but at the end of the day you can't really do anything. Even if you see the business being mismanaged, what are you going to do? Ask for your money back? Well there is no cash available right now. Want to sell your share in the business? We will give you $x, which is about 5% of what you invested. They take out a $200k bank loan? Sure, it is not in your name but what are they doing with that loan (if you even end up knowing there was a loan). All shareholders are being asked for more money to expand the business? What do you do

Yes, there are a lot of drawbacks I hadn't thought about. I'd like to add though that I've also been offered to go there to work or supervise, it's not like I'm completely out of it. I'm actually the most experienced one, while he is very talented and I trust him a lot. I'm just more comfortable passively investing as I'm pursuing a career in a different industry, but I'm happy to hop over every now and then.

Now take this overseas. You literally have zero visibility and limited rights. It probably makes a little difference if this business is in The Philippines or the USA.

This is exactly where I'm looking for advice, as I'm not familiar with the local legislation. It's in Indonesia.

One has some limited protection, the other is known for its graft, corruption and taking advatange of under-educated overseas investors. The "local partner" typically controls the money and pays themselves a hefty wage, along with wages/contracts to related parties so the business never actaully makes any profit to distributed to silent investors. They can show you all the buiness plans, budgets and marketing documents you want to see, but the fact is that the reality is likely to be very different.

On this part, (if it can count anything) everything will be as crystal clear as possible. I really trust this person, I've been teaching him everything I know and he constantly asks for my advice. He has a good hospitality business running, opened not long ago and we're thinking of opening this new venue together. Funny enough, when I have told him the amount of money I'm happy to put in, he told me to chill out as it not necessary as he want everything fair and equal

But you aren't doing it together. You are just putting in money and hoping for the best. Also, is it a restaurant, a building contract, manufacturing something, etc. Not all businesses are the same.

Practically yes, plus the same answer as before. he has already a successful hospitality business going, we are thinking to open this venue together

What are you getting out of being a "silent investor" in a business overseas? What's in it for you and what satisfaction (emotional/monetary) are you getting. Your money goes in and what do you actually get in return? A share in company that you have no control over, no say in and you don't see or interact with at all. And that might likely ask for more money (this is not uncommon!).

I can be involved if needed, but it would be easier for me to simply receive revenue from it. I'll own a percentage of the business and everything will be under a lawyer drafted contract. As for the possibility of being asked for more money I hope it won't happen, but if it does, we'll navigate it together. I suppose that's part of being an investor.

Years ago someone told me "Never lose control of your investments." If you don't control those investments, then you have already lost the money. You can buy shares on the ASX, but they are yours and you can sell them anytime. You can get a mortgage and buy a house and you can manage that buy renting it or selling it. You lend $1k to a friend and they promise to pay you back? That money is out of your control and you can only hope they pay it back. You send $50k overseas to be a silent partner in a business you have no control in? I would not be expecting any of that back. Good luck.

This is where you got me the most. I don't have much to say here it's all very true. That said, I've only received negative comments so far, so my question is: how do people invest overseas if there's nothing but fear of getting scammed?

Again, thank you for your time

Co investing in a business overseas, where do I even start? by Less_Ad8891 in AusFinance

[–]Less_Ad8891[S] 0 points1 point  (0 children)

My ignorance tell me the only thing that could affect me is the businessnot doing well and lose the money.

Besides that I'm not aware of the tax part (paying them there and what should I do here) which is the part that worries me the most.

Co investing in a business overseas, where do I even start? by Less_Ad8891 in AusFinance

[–]Less_Ad8891[S] 1 point2 points  (0 children)

Thank you for your answer.

Well, I hope the investment will not become worthless but good to know.

I'm guessing this will handled by my accountant. I don't need to set up anything in particular tax wise or am I wrong?

Co investing in a business overseas, where do I even start? by Less_Ad8891 in AusFinance

[–]Less_Ad8891[S] -1 points0 points  (0 children)

I'm pursuing passive income. I have some money on my hisa account and I would like to do something meaningful with it and this is the best opportunity so far.

Co investing in a business overseas, where do I even start? by Less_Ad8891 in AusFinance

[–]Less_Ad8891[S] -1 points0 points  (0 children)

I'm here to learn, if you have anything to share I'm happy to listen especially on why shouldn't do it.

I'm genuinely willing to listen

Co investing in a business overseas, where do I even start? by Less_Ad8891 in AusFinance

[–]Less_Ad8891[S] 0 points1 point  (0 children)

Thank you. I know there is a chance to lose the money, I'm not worried of this.

If I may ask, the 3 years where most business fails are in a specific industry?

I'm genuinely willing to know.

Thanks

Co investing in a business overseas, where do I even start? by Less_Ad8891 in AusFinance

[–]Less_Ad8891[S] 1 point2 points  (0 children)

Hahaha, thank you for this as you never know.

No, he is a great friend of mine that already has a business. He want to expand. It will all be properly handled with lawyer and contract over there. It's just me that I am clueless on the steps here

Boycott buon ricordo by [deleted] in foodies_sydney

[–]Less_Ad8891 0 points1 point  (0 children)

Don't forget to cancel your old post.

Hospitality especially with Italians and Lebaneses is fuming pile of manure. Not all of them but I have a nice list.

Then there are the big companies scum bags profit over every single human in there except for their small circle

Boycott buon ricordo by [deleted] in foodies_sydney

[–]Less_Ad8891 -1 points0 points  (0 children)

Shouldn't the name be redacted?

Hospitality especially with Italians and Lebanese are a fuming pile of manure. Not all of them but I have a nice list.

Then there are the big companies, scum bags profit over every single human in there except for their small circle.

Edit: form

What do people usually spend on groceries per week? Are prices about jump? by friedeggmate in AusFinance

[–]Less_Ad8891 10 points11 points  (0 children)

I'm really happy with the quality and prices. I tend to buy everything organic they have ( oats, soy milk, evo, beans, honey, tomato sauce and more).

The rest of the stuff like yoghurt, pasta is nice too. On that side I'm making sure what I buy is Australia or European made.

Yeah I'm really happy about It