PropertyInvesting.com | EKfour | Activity https://www.propertyinvesting.com/members/ekfour/activity/ Activity feed for EKfour. Sun, 12 Apr 2026 13:00:16 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 5ce75fc5454fc65081085bfc106375c4 EKfour replied to the topic What to do if? in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364771-what-to-do-if/#post-4411503 Fri, 13 Sep 2002 03:27:50 +0000 Hi! I have a template for doing the comparable sales data (as JP has done), saves reinventing the wheel. This one’s 14 pages though (in PDF format), so if anyone wants it, mail me at yeewei@optushome.com.au, I’ll send it out to you.

Cheers
Wei

]]> c73ffd57ad92d3bb04492714c2e4e574 EKfour replied to the topic Perth Lease Options in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364725-perth-lease-options/#post-4411206 Wed, 04 Sep 2002 16:42:04 +0000 The $34 book cannot be printed- you gotta read it off the screen, which is not something I enjoy. It explains the basics, but not very much more. Not much info in my opinion.

Cheers [:)]
Wei

]]> 34909922e3f341b140ad9018a2504f2c EKfour replied to the topic Re Wei's comments in 'My First Wrap...Almost' in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364747-re-weis-comments-in-my-first-wrap-almost/#post-4411289 Sun, 01 Sep 2002 02:31:35 +0000 Hi Darren,

It’s interesting that you’ve got calls. We’ve advetised in the Mail Times (4 or 5 issues now), and so far the calls we’ve received are from Warracknabeal etc where houses go for $20k everyday. Those people are usually pensioners- not our target market, as we’d like them to cash us out sooner, rather than pay off the house in 25 years.…[Read more]

]]> 421c3ba39986dff7b4a979ebe66bc729 EKfour replied to the topic Re Wei's comments in 'My First Wrap...Almost' in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364747-re-weis-comments-in-my-first-wrap-almost/#post-4411285 Fri, 30 Aug 2002 04:25:43 +0000 Spot on Darren, that’s the area, so I’m sure that’s the same company, although I’ve not seen the ACA episode myself. Sort of explains the lack of response we’re getting due to the bad press…

Cheers
Wei

]]> 388f6b5a9c7e1a4dd847a91827b3b60e EKfour replied to the topic Wrong type of newspaper? in the forum No Subject https://www.propertyinvesting.com/topic/4364753-wrong-type-of-newspaper/#post-4411304 Fri, 30 Aug 2002 00:43:16 +0000 Hi Felicity,

In my opinion, is pointless to place an ad in the classifieds, because if they can’t afford to buy a house they won’t be looking there in the first place. We placed a HUGE 2 column ad in the classifieds, and response wasn’t anywhere near what we expected. This paper is similar to the one you’ve advertised in I believe- 3 or 4 for…[Read more]

]]> 63018c2dc56efd3d8011dc7b6e5a6b51 EKfour replied to the topic Re Wei's comments in 'My First Wrap...Almost' in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364747-re-weis-comments-in-my-first-wrap-almost/#post-4411280 Mon, 26 Aug 2002 11:37:27 +0000 Hi Craig- no they bought for $9k sold for $35k, not $25k. It doesn’t matter if it’s legal or morally right- all that matters is how the public looks at the whole issue. This guy who called me sounded pretty upset. Maybe it would have been fine if he did not find out the price that they bought at.

I don’t know whether the market where he bought in…[Read more]

]]> 94ea840cdb432caa75e91ab2e75e1f08 EKfour replied to the topic First Wrap......maybe. in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364743-first-wrap-maybe/#post-4411263 Sun, 25 Aug 2002 02:28:14 +0000 Hey great start Andrew! 2 out of the 3 calls are potential prospects? Our ads have generated 5-6 calls maybe, but none of them qualified. Most are pensioners, or do not have a sufficient deposit. On another note, I’d like to share a story with you all.

I’ve visited every agent in the town where we intend to wrap in, & some of them (the younger…[Read more]

]]> 73ddfe7aa2d9c9a247e3432d37a7992b EKfour replied to the topic Blueprint for success. in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364742-blueprint-for-success/#post-4411261 Sun, 25 Aug 2002 02:12:48 +0000 Hi Andrew,

I’ve got both the printed & the audio versions. The audio consists of 20 tapes, but I’ve yet to listen to it. I believe it’s a live recording of his bootcamp in the US. Based on his other audio products, I must say I’m incredibly disappointed by the quality of the recording. At times, you’d be struggling to hear what he’s saying, even…[Read more]

]]> f6d318e83a50eaee8b646f393683d99e EKfour replied to the topic LMI calculations in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364737-lmi-calculations/#post-4411246 Thu, 22 Aug 2002 01:35:50 +0000 Thanx Bruce! Yeah the seminar was great; so was your audio interview with Steve!

Cheers [:)]
Wei

]]> 2712255d5d62ab1e4866f289a6f91988 EKfour replied to the topic Financing structures in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364734-financing-structures/#post-4411234 Sat, 17 Aug 2002 07:17:20 +0000 Thanx for the support guys! I guess the REAL question I had was whether it was worth it going out to setup a structure now, as our funds are quite limited. Just had another talk to yet another broker an hour ago- he was basically sitting on the fence on this issue; he has done some “creative” stuff, but is also mindful not to get into too much…[Read more]

]]> 0e878ff5178ff20afd65be976b0f2b9c EKfour replied to the topic wrapping when buying? in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364729-wrapping-when-buying/#post-4411212 Fri, 16 Aug 2002 11:54:54 +0000 Don’t remember that bit, but I think this is similar to what they call a sandwiched or mirror deal- the vendor makes their cut, and you make yours. Everyone makes money. Yay!

[:)]
Wei

]]> 326d20dce18bd4d02674da11cec812f4 EKfour replied to the topic Positive Cashflow Property on Sunshine Coast in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364709-positive-cashflow-property-on-sunshine-coast/#post-4411162 Sun, 11 Aug 2002 12:19:38 +0000 Hey Matthew,

Didn’t manage to get your contact details at the seminar. Mind posting them here? Would be great to meet up with you for a longer chat when the opportunity does present itself. By the way when’s the big day?

Cheers [;)]
Wei

]]> f4a3f413c93e4eb72a2b1a711263300e EKfour replied to the topic To all LaTrobe Valley wrappers... in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364715-to-all-latrobe-valley-wrappers/#post-4411179 Fri, 09 Aug 2002 06:43:20 +0000 Darren, nothing personal, no offence taken! Comments & criticisms on my posts/activities are always welcome.

Cheers [:)]
Wei

]]> e3a4c74fe4267c9a1eb0d84ee5a0065f EKfour replied to the topic To all LaTrobe Valley wrappers... in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364715-to-all-latrobe-valley-wrappers/#post-4411177 Thu, 08 Aug 2002 10:58:16 +0000 OK I know I’ve over-reacted. But I guess posting the name was more of a warning to people who are operating in the region, nothing more. Yes I agree it’s not a win-win outcome in this case, due to the fact that he had his own agenda. Maybe I was naive enough to think that achieving the full asking price would have been his top priority, since it…[Read more]

]]> 98f9e61b96e7bd74f2d58feeac085382 EKfour replied to the topic Qld Lawyers (for Tony Barton) in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364708-qld-lawyers-for-tony-barton/#post-4411153 Wed, 07 Aug 2002 13:36:55 +0000 Tony, I remember you saying that you’ve got a client that makes $35k per year (salary) & he’s done 8 deals properties through you? Question- how? Would be interested to find out!

]]> 56e4d43efeaa36672196186f68c4684c EKfour replied to the topic Claim on tax? in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364710-claim-on-tax/#post-4411164 Wed, 07 Aug 2002 13:31:13 +0000 I’ve heard the same thing before- the theory is that if you make repairs in the 1st year they will be treated as a capital cost, & hence you can only depreciate the cost versus claiming it outright as an expense. I guess the theory is that you’ve purchased it “broken”, and that’s reflected in the purchase price. I can be very wrong on this issue…[Read more]

]]> 84fa8a7b97f0453380a4fa0333ac6b5d EKfour replied to the topic Positive Cashflow Property on Sunshine Coast in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364709-positive-cashflow-property-on-sunshine-coast/#post-4411160 Wed, 07 Aug 2002 13:26:25 +0000 I guess the most important bit I learnt from the seminar was the 10 minutes I spent harassing Steve in person. I was looking only at wrapping, & discounting everything else. Matthew’s made a good point here- if you can’t make it cash flow using one method, try another!

Cheers [:)]
Wei

]]> 950a1c2a15bb93b7fc60f75ef25a2f31 EKfour replied to the topic Australian Property Masters was... in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364707-australian-property-masters-was/#post-4411145 Mon, 05 Aug 2002 13:19:02 +0000 Great event Steve, plenty of interesting/knowledgeable people that I was able to talk to! It was also good to be able to finally put some faces to the names- Fergus & Matthew, amongst others. It was great meeting you people!

Cheers [:)]
Wei

]]> fabee7ceff198a96765ff2a90c10cd64 EKfour replied to the topic Getting Started.. in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364700-getting-started/#post-4411129 Fri, 02 Aug 2002 03:09:04 +0000 Howdy!

I’m also a newbie, & all I can say is that once you get off your butt & actually start doing something you will learn heaps! I started from knowing NOTHING about wraps just under 2 months ago, and now I’ve already advertised, researched, etc etc. Just waiting for the phone to ring!

Yeah I’ve found that the hardest thing to do is to take…[Read more]

]]> ff0f56759e5b4170532fe6ba06a2c005 EKfour replied to the topic Which approach- buyer 1st or house 1st? in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364688-which-approach-buyer-1st-or-house-1st/#post-4411076 Wed, 24 Jul 2002 12:26:51 +0000 Thank you all for replying to this post. This is one of those from which I’ve learnt heaps, and triggered a lot of thinking. I’ve just thought of something that I’d like to share with you all. Instead of getting the buyer to find THE property they wanna live in, ask them to go look for 3-5 that they would like to own equally as much. That way you…[Read more]

]]> 6134e067937f1c0967254ca2b9cc51bd EKfour replied to the topic Which approach- buyer 1st or house 1st? in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364688-which-approach-buyer-1st-or-house-1st/#post-4411073 Tue, 23 Jul 2002 13:20:28 +0000 OK this one’s for you Steve. If you’re getting buyers to find the house that THEY want to live in, and you get some “hurt money” from them, why should you even worry about the 11 second solution? Shouldn’t matter if rental returns were 5% or 10% should it? I assume this should only matter if you intend to find the property, and THEN the…[Read more]

]]> 0099b5c505e5bfe4aa1bcb2a54d7bb5f EKfour replied to the topic Which approach- buyer 1st or house 1st? in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364688-which-approach-buyer-1st-or-house-1st/#post-4411071 Mon, 22 Jul 2002 14:23:42 +0000 Fergus,

I’m assuming you’re adding 2% to the spread? What kind of cashflow are you getting from a $60k property? And what’s the back end profit margin that you add on when they cash you out, in other words, what do you sell a property that you paid $60k for? Thanx!

Cheers
Wei

]]> fcfc70aa34430a9b3683bede642f84de EKfour replied to the topic Which approach- buyer 1st or house 1st? in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364688-which-approach-buyer-1st-or-house-1st/#post-4411067 Mon, 22 Jul 2002 00:35:31 +0000 Thank you all for the encouragement. It’s much needed during this crappy phase of my life… [:)]

Cheers
Wei

]]> 5e41e4ef1f7d8de33e45d7c290defb18 EKfour replied to the topic Which approach- buyer 1st or house 1st? in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364688-which-approach-buyer-1st-or-house-1st/#post-4411064 Fri, 19 Jul 2002 09:52:07 +0000 Hi Steve,

Thanx for replying, although I think you’ve got the numbering mixed up. Nevertheless…

I’ve read John Burley’s Blueprint for Success, and it mentioned that the approach you took (at the start anyway) was to find the houses, then the buyers. OK so you’ve realised this is not the most time efficient way.

Would you advise me as a newbie…[Read more]

]]> 8ae5d31c062309a7312ed08e7f5f9dd8 EKfour replied to the topic Credit Checks in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364685-credit-checks/#post-4411058 Wed, 17 Jul 2002 14:45:50 +0000 I wrote (snail mail) to them just over two weeks ago, still waiting for the report to arrive in the mail. Just get your clients to give you their reports- maybe insist them do it online or something?

]]> dda372ad34f4d7f2536d4448cf2df7e9 EKfour replied to the topic Population decrease a concern in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364680-population-decrease-a-concern/#post-4411044 Wed, 17 Jul 2002 04:58:18 +0000 Looking in Gippsland. Seriously having 2nd thoughts now, but I’m still submitting my (ridiculously low!) offers. The drive out there & back is more than enough to put me off.

Cheers
Wei

]]> 305a857bb0c5533603e168b215f32441 EKfour replied to the topic Which lenders are wrap friendly in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364684-which-lenders-are-wrap-friendly/#post-4411055 Wed, 17 Jul 2002 04:56:04 +0000 Matthew, I’ve made an appointment with my finance broker, meeting her Saturday 12pm just before our CashFlow session. Sorry you can’t make it, but will fill you in with details. I’ve told her specifically that I need a lender which will take wraps, and she said it’s not a problem. If you can somehow get around your work commitments, give me a…[Read more]

]]> 33860998ca79fccc7dfc540f39cf40a5 EKfour replied to the topic How to submit an offer? in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364676-how-to-submit-an-offer/#post-4411033 Tue, 09 Jul 2002 12:43:13 +0000 I was bordering on being unreasonable- offering high $30s for a $55k property. But hey, you’d never know, you may get lucky! I figured all I had to lose was a phone call and a few minutes of my time.

This is actually part of my exit strategy. It’s currently rented at $85 per week, so $50k asking price is high. I’d like to wrap it ultimately, so…[Read more]

]]> 35819dc3437fbec0f685a6735591519b EKfour replied to the topic How to submit an offer? in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364676-how-to-submit-an-offer/#post-4411031 Mon, 08 Jul 2002 10:21:23 +0000 OK was just done talking to an agent, and he refused to submit an offer I made on another property. Is it their obligation to submit all offers? I believe it is, but there’s no way to find out if they really went about doing it, is there?

The guy thought my offer was far too low. True, but it’s been on the market for 6-8 weeks & according to the…[Read more]

]]> 8e9cbd8621730969cf1bc591a1890dfd EKfour replied to the topic Grants & Investments in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364677-grants-investments/#post-4411037 Mon, 08 Jul 2002 07:37:21 +0000 Josh, very interested in your proposal. Are you looking at some kind of commission structure to assist in this particular deal?

Normally I wouldn’t be looking at Tasmania due to the fact that people are actually moving away. But then again, a desperate seller wanting to sell at $45k a property that rents at $115 p/w, it’d pay itself off in no…[Read more]

]]> 5c1b831cd376900319339c40bea2f704 EKfour replied to the topic How to submit an offer? in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364676-how-to-submit-an-offer/#post-4411030 Mon, 08 Jul 2002 07:33:00 +0000 Appreciate the reply, Steve!

The problem with approaching an agent (I think) is that it’s more than likely the agent will advise the owner with regards to price, which will get his hopes up. I want to avoid this, and of course, the agent’s fees is ultimately reflected in the final sale price.

I was interested in another property which was in a…[Read more]

]]> fd391cf386e0ea0cab99bf05a93d2bc0 EKfour replied to the topic save tax? in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364670-save-tax/#post-4411019 Thu, 27 Jun 2002 11:19:55 +0000 Alf, I’m no expert on this, but -ve gearing is precisely what the “experts” teach to save u tax. But bear in mind that you are spending $1 to gt 48c back as a rebate.

I think most people on the forum are against this strategy, and Steve would provide good input no doubt. Another way which I’m sure your accountant is doing for you- is by…[Read more]

]]> f4434e22a9c017191657b34f7ac9a57e EKfour replied to the topic Wraps vs Lease/ Options in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4389060-wraps-vs-lease-options-2/#post-4565049 Thu, 30 May 2002 17:15:03 +0000 How does the FHOG come into play? If you’re talking about the deposit involved, I assume that you’d want a larger deposit when you’re wrapping the property to someone, so the FHOG helps?

Also why can’t the tenant get a FHOG with a lease option? Can’t he just apply for it when he decides to exercise the option to buy? Cheers!

]]> 2c3bbaf8fb83e589139c339816c29503 EKfour replied to the topic FINDING POSITIVE GEARED PROPERTIES in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4389050-finding-positive-geared-properties/#post-4564996 Wed, 29 May 2002 22:37:22 +0000 Hmmm… interesting Darren! Mind sharing with us which regions you look in? How do you guys start targeting an area anyway? I was looking at a “pretty” picture of a $42k house just yesterday & was trying to find out as much as possible about the area- until I found out that the population is 300 people, the bus runs once a WEEK, there are no ATMs…[Read more]

]]> cb00f570fe2193c31e6ec47d6b4047f2 EKfour replied to the topic Initial cash commitment for a WRAP? in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4389047-initial-cash-commitment-for-a-wrap/#post-4564983 Tue, 28 May 2002 10:48:20 +0000 Thanx for the replies. No I don’t spend 101% of what I make; I spend about 99%! I am disciplined in a way- I REFUSE to pay interest on my credit cards, so I make sure I pay them off each month. I make just enough to get by in a job that does not offer sick pay/annual leave etc, hence I realise it’s not a way I can get anywhere. Hence the interest…[Read more]

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