Hi all….long time no post

My thoughts on this one are …why not???

You have to rememebr that people we are wrapping to are those who cannot get standard finance for various reasons. One of those may well be bankruptcy, etc. Now I don’t know about you but I’m sure Mr Bond still had the cash to buy a place even after being bankrupt. There are…[Read more]

Hey CY,
I’m no Eddie the expert but I just did this with my accountant.
Please check with your Accountant as they will know best !!

I think setting up a company, etc depends on how far you want to go. Doing one or two outside a company won’t kill you but if you get serious then there are (depending on circumstances) great options in setting up a…[Read more]

Steve,
Sounds interesting…..will keep an eye out. Good chance to put faces to names .
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Monto,
The great product is found on this site.

Here is the link

https://www.propertyinvesting.com/files/content.asp?cid=wrapintro

I can vouch that it will teach you a whole lot about wrapping.

Enjoy,
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Matt,
I’m no expert on commercial stuff but a few thoughts came to mind.

1. What are the conditions of the current lease (Get hold of it and take it to a solicitor).

2. Request a financial statement of the businesses activity over the last two/three years. (Maybe see an acountant).

3. Check with local council/Main Roads as to any changes…[Read more]

Hey there Canadian Dave,
Would you mind explaining how you use vendor financing in the way you talked about here. It would be great to here how you people over there are doing things ?
Enjoy
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Steve,
Here are my thoughts on why ??

1. The first and foremost is the asset protection of the investments. I have heard you and others all recommend looking at this process as a means to protecting your assets into the future. This would (as I see it) require a company to be set up and then trusts established as needs arise (per properties). I…[Read more]

Evening all,
I was talking to an accountant the other day and he was saying that the first trust needs to be purchased but after that he would show me how to establish further trusts myself. Does this sound right ?
Appreciate comment/thoughts.
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Darren,
What do you mead by Hurt money ?
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Mark ,
I went to the Brisbane Event but there is a one day event in June where Dymphna goes through a lot of stuff. If you contact Break Free Events they could possibly help you. They are at http://www.breakfreeevents.com.au
The seminar I went to was aimed mainly at Asset protection but she also espouses her approach to wealth creation which is more of a…[Read more]

Thanks Tara,
We are going to keep the place (I think my wife would kill me if we sold !!) I have been learning heaps lately about how to structure the finance to maximise the property purchases available. This forum has opened up to me a whole new world of options by way of no docs loans….Thanks once again for the forum Steve and thanks for the…[Read more]

I believe it is…..check out the forum FHOG in the general discussion.
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Yes indeed, It sounds like you definitely know what you are doing. Hope it keeps going well
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Thanks Regina,
Your structure and approach sound like the style used and ecommended by a lady I heard speak the other evening, Dymphna Boholt. She seems very switched on so I hope it goes well for you. My question though for you is why not have the property positive geared so it can replace income ? As Mr McKnight Snr once (or twice) said you…[Read more]

Hey there ( no tag so not sure ??)
I am also a newbie so I know how you feel. I found a very basic level of information can be gleaned from the Property.com.au website. When you search an area and look at a property in the top right corner a little “Area Profile” appears and this gives some basic (and more importantly) free information. Not all…[Read more]

Li-Sa,
You are a gem thank you very much I will check out the website.
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Mark,
Went to a seminar tonight run by Break Free Events and the lady speaking was a Maroochydorite. She runs a budding practice and while she is more in the buy and hold mode I think she would be worth talking to about what you want to do. Her name is Dymphna Boholt and here is her website. http://www.activefa.com
She seems very good and has a passion…[Read more]

Lance,
Nice Website.
I am currently with NAB and have asked them about Wrapping and they said (my personal banker said) that it is not the type of transaction they would enter into. Could you let me know who or how you got through with NAB as this could save me a lot of time.
Thanks
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Pete,
Welcome. I have found that the best way to Leverage my time is to use the Internet. So many individuak websites for Real Estate agents and then the genreic ones like http://www.realestate.com.au or property.com.au. Unfortunately starting out takes time as I am finding but it is time well spent when you bump across the first property.
Hope this Helps
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Christine,
I currently own a property and am thinking about selling for cashflow potential and start renting. I guess as Steve has said to me you have to decide what you are out to do. Decide what you want to do and write it down and apply that rule to everything you want to do. If you want to own a house for yourself excellent, I suppose you also…[Read more]