[ChrisBedfordParticipant@chrisbedfordJoin Date: 2002Post Count: 23]

January 21, 2005 - 2:11 am

I wasn’t worried about the safety of my funds, it was just that the agent made an error and took my funds before they were entitled to. I was looking for extra leverage as we were getting close to a deal.

Thanks for all your replies. The agent got out of this one OK as the vendor has now accepted the offer.

I feel the agent did something that was extremely negligent and to deliver a red-faced ‘sorry’ is hardly a deterent for such sloppy behavior in the future.

Chris B
http://www.tradingsecrets.com.au

[ChrisBedfordParticipant@chrisbedfordJoin Date: 2002Post Count: 23]

September 23, 2004 - 1:58 pm

Thanks guys.

Chris B
http://www.tradingsecrets.com.au

[ChrisBedfordParticipant@chrisbedfordJoin Date: 2002Post Count: 23]

July 22, 2004 - 2:24 pm

Kay,

Just make sure you are comparing apples with apples.

If a person earns $100k and reduces their income to $20k, they must have spent $80k on something for which they can claim a ligitimate tax deduction. Using your example, they have spent $80k to save paying $37.5k in tax ($40k minus $2.5k).

This is all well and good provided the $80k has been spent on an asset i.e. something that makes even more money than it costs. When people have expenses that provide a loss they, for some reason, only focus on the 47 cents they are not paying “that nasty tax dept” and forget about the 53 cents they spent on a losing deal (Also, if you are only on the 17% bracket, you have then spent 83 cents on a losing deal).

Don’t get me wrong, I am all for reducing the tax I have to pay, but I prefer to be investment focussed first and tax-saving focussed second. To think that you…

…get it all back in tax anyway.

is incorrect. At best you only get half back.

Cheers,

Chris B
http://www.tradingsecrets.com.au

[ChrisBedfordParticipant@chrisbedfordJoin Date: 2002Post Count: 23]

July 22, 2004 - 1:27 pm

If I am in the highest tax bracket, I am paying 47 cents tax in the dollar, viz a viz, I can get back 53 cents in the dollar; if I can reduce my taxable income to, for example, 20k, I am only paying 17 cents tax in the dollar, which means I get 83 cents back in the dollar.

Um…the Gov. will only give back what you have PAID in tax. If you have deductions and you are on the 17% bracket, you will receive back 17 cents in the dollar, not 83.

Cheers,

Chris B
http://www.tradingsecrets.com.au

[ChrisBedfordParticipant@chrisbedfordJoin Date: 2002Post Count: 23]

March 8, 2003 - 12:13 pm

quote:

---

You need to be passionate about property – rather than passionate about making money.

---

A couple of years ago I saw a news grab of a well known (read – loved & hated) Melbourne business figure leaving court after successfully defending himself against some business related charges.

As he came down the front steps of the courthouse, a TV reporter launched at him with a cheap shot, asking “Mr.______, with this court case out of the way, I suppose now it’s back to making money?”

Now my opinion of this man is neither here nor there, but his reply impressed me.

“No, now it’s back to solving problems, the money is just a by-product”

Chris B
http://www.tradingsecrets.com.au

[ChrisBedfordParticipant@chrisbedfordJoin Date: 2002Post Count: 23]

February 20, 2003 - 2:24 am

“The dog barks but the caravan moves on…”

Chris B
http://www.tradingsecrets.com.au

[ChrisBedfordParticipant@chrisbedfordJoin Date: 2002Post Count: 23]

August 27, 2002 - 3:21 am

Hi guys,

I’ve got the audio version & have found some great little gems of info in there. As far as I can tell it is a 1997 recording of a 5 day seminar in the U.S. before it was known as a bootcamp.

Wei is correct about the recording quality but I found it only a minor irritation. Of course, U.S. info is discussed in relation to VA repos, foreclosures etc. with various parts of this info relavant to Aust. and a lot not. The trick is to research was is and what isn’t.

One subject that is covered heavily is that of finding and working with investors. Also covered is some investing psychology and self development.

I would suggest to anyone who is considering checking this out to get the “Wrap Secrets Revealed Library” first. I didn’t, and caused myself some confusion.

Hope this helps,

Chris B
http://www.tradingsecrets.com.au

[ChrisBedfordParticipant@chrisbedfordJoin Date: 2002Post Count: 23]

August 6, 2002 - 1:42 pm

Thanks Dave & Steve & behind-the-scenes crew.

What a great weekend! I would describe it as a huge smorgasbord of info that made it clearer where my future focus should be. I agree with Alina that the seminar finished on a note of confidence.

The role plays were especially effective to experiment with new techniques and strategies.

Great to meet some of the faces behind the names on the forum too.

Cheers,

Chris B
http://www.tradingsecrets.com.au

[ChrisBedfordParticipant@chrisbedfordJoin Date: 2002Post Count: 23]

July 21, 2002 - 1:00 am

Hey Guys,

Thanks for the info.

Steve, we’re doin’ great, thanks for asking. I’ll see if I can get Louise to post something on the forum about handling bear markets etc.

Cheers

Chris B
http://www.tradingsecrets.com.au

[ChrisBedfordParticipant@chrisbedfordJoin Date: 2002Post Count: 23]

July 12, 2002 - 10:32 am

Hey Grizzly,

This, unfortunately, is an all too common story.

I think there were two factors that worked against your friend. One was getting caught on the wrong side of leverage and the second, believing he was on a “sure thing”.

1)

From my experience with sharemarket investors, there are many who have not understood that leverage is a twin-edged sword and have decimated their savings/superannuation/home equity with astounding speed.

It is a sad fact that today, when someone approaches a broker to buy some shares, they are usually presented with an application form to open an account and given an application for a margin loan. There is a common misconception that using leverage has no downside and if you get into trouble it “must be the broker’s fault” and besides, you can always sue.

2)

Investors and traders seem to be eternally on the search for the ‘Holy Grail’. The no-risk investment. If someone says “You can’t lose”, run the other way.

Risk and reward are inextricably linked and if we are willing to accept this and have a plan that recognises this fact, we are on the way to sustainable, profitable investing.

(Praying is not something that is recommended as part of your investing plan.)

Cheers

Chris B
http://www.tradingsecrets.com.au

Edited by – [email protected] on 12/07/2002 8:34:02 PM

[ChrisBedfordParticipant@chrisbedfordJoin Date: 2002Post Count: 23]

July 3, 2002 - 7:16 am

Thanks Steve,

That about covers it! []

Some US-based investing education I encountered emphasised the seriousness of this subject in their market.

Cheers

Chris B
http://www.tradingsecrets.com.au

[ChrisBedfordParticipant@chrisbedfordJoin Date: 2002Post Count: 23]

June 28, 2002 - 3:19 am

I assume the agent told you about Ian Thorpe buying here.

I also assume this is meant to give credibility to the project.

The ‘Halo effect’ is where someone with expertise in one field is attributed with expertise in another unrelated field.

Thorpy may be be an expert investor for all I know but it’s a good idea to heed Steve’s advise about fact and opinion.[]

Chris B
http://www.tradingsecrets.com.au

Edited by – [email protected] on 28/06/2002 1:20:03 PM

[ChrisBedfordParticipant@chrisbedfordJoin Date: 2002Post Count: 23]

June 13, 2002 - 9:23 pm

Hi Guys,

In countries such as Canada, is the need for title insurance due to the ‘assumability’ of loans? Is there a similar insurance applicable in Aus or not necessary due to different laws?

Chris B
http://www.tradingsecrets.com.au

[ChrisBedfordParticipant@chrisbedfordJoin Date: 2002Post Count: 23]

June 10, 2002 - 11:36 pm

Hi CD,

I don’t think you can assume a mortgage in Oz. A shame really, it sounds like there are some creative solutions available by assuming loans.

Cheers

Chris B
http://www.tradingsecrets.com.au

[ChrisBedfordParticipant@chrisbedfordJoin Date: 2002Post Count: 23]

May 29, 2002 - 2:24 pm

Thanks David.

As Felicity points out, these sound like pretty reasonable terms. Do they look more favourably on an application from a company rather than an individual or is it all based on income/assets/liability?

Chris B
http://www.tradingsecrets.com.au

[ChrisBedfordParticipant@chrisbedfordJoin Date: 2002Post Count: 23]

May 25, 2002 - 2:30 pm

Hi Tara,

When you’re going to live to 100 plus [], your age is not so much of a factor is it? I found the free articles on the http://www.propertyinvesting.com site were good to get more of a handle on strategies, mindset, direction etc.

Cheers

Chris B

[ChrisBedfordParticipant@chrisbedfordJoin Date: 2002Post Count: 23]

May 25, 2002 - 2:13 pm

Hi Steve & others,

I’m getting a lot from this forum so far.
My feedback from the posts in this thread are:

• I have found the Wrap Secrets Revealed Library to be a great source of information at a suitable price. (Look at the cost of education in other areas of property/sharemarket/business investment)
• The case study you posted was very informative. More of these from experienced property investors would be great
• Be careful in implementing suggested modifications to the website. I reckon it’s functional and looks good. Designing by ‘committee’ produced the Edsel (U.S. car)

Cheers

Chris B
http://www.tradingsecrets.com.au

[ChrisBedfordParticipant@chrisbedfordJoin Date: 2002Post Count: 23]

May 25, 2002 - 1:42 pm

I get the impression that commercial property is quite a different animal to residential so I’ll be looking forward to the next newsletter Steve. []

Chris B
http://www.tradingsecrets.com.au

[ChrisBedfordParticipant@chrisbedfordJoin Date: 2002Post Count: 23]

May 25, 2002 - 1:33 pm

Ah…just what I was after. [^]

Thanks Felicity

[ChrisBedfordParticipant@chrisbedfordJoin Date: 2002Post Count: 23]

May 25, 2002 - 10:46 am

Hi Christine,

I am a renter & have been using my spare funds to invest for many years now. There are a few things to consider on this subject, some of which are not only money related.

Some people like the feeling of security they get by owning their own home. If this perceived value is your top priority, home ownership is fine.

If owning a home is of little importance right now & you believe you can leverage your money better by proactively investing, stay renting & get investing.

Don’t let people guilt you into buying a home when this is not in line with your goals. This is your game.

AD is right, you need to decide what you are out to achieve.