We’ll all know when the property markets in trouble by the following TV shows being cancelled.

1. Burke’s Backyard – been around a long time.
2. DIY Rescue – like a new job, 1st in – 1st out.
3. Auction Squad – learning the value of…[Read more]

Appreciate you both letting replying.

Michael []

The joys of a mental block.

Michael []

Anythings possible. It’s just a case of finding the right situation.

This is an alternate strategy that opens doors for all. It allows the people to stay in ‘their’ own home, mitigating relocation costs & provides a win win outcome.

There’s also an opportunity to pick up the remainder of their mortgage (can’t immediately recall what…[Read more]

Good option. I missed two days & had over 3 pages of threads to go read. Now I have to allocate time each day to read this.

Congratulations to Steve, et.al. on the success of the site.

Michael []

I curious to know the big question – WHY?

1) Why do you want to get involved in wraps?
2) If it’s just a vehicle for making money, are wraps the most viable mechanism for doing this?
3) What other options have you considered?
3) Do you have a plan?
5) Do you have a strategy?

Most of the educational material is not cheap & you need to…[Read more]

Interesting that you mentioned the Kiyosaki & DeRoos websites re money partners. They’re also e-mailing the information, baiting prospective investors, then linking them to their website for further info.

Ulimately, these may be good deals, but difficult to research (ie, international companies & property) & do the normal due…[Read more]

Your uncle was well ahead of his time. In most families of that era (mine included), money was not openly discussed. Good for him & I trust that you’ve learned his lesson well…

Good to hear also of a quick reality check: I took your uncle 28 years to build his portfolio to where it is today & enable him to retire. There was nothing…[Read more]

No problemo. Haven’t faced this scenario, so can’t speak from experience. Sure someone else can pick it up from here.

Michael []

In the Dec/Jan edition of Property Investment mag, there was an interview with the a group called the “Renovation Kings” (also a ACA). One of the examples (& I assume that it’s also one of their specialities) was to subdivide a property. Interestingly, in their experience, when a property is subdivided, rarely does the value of the…[Read more]

I’ve wanted to do the same thing for quite some time. However, I understand the lender’s perspective (well illustrated by Elvis above) & know that this is just not viable at the moment.

However, it’s good to have goals. My aim is to be in a cashflow +ve position THEN do buy / reno / sell’s.

By my calculation, I can do this – without…[Read more]

Enquire with the lender if they will reduce the application fees if you have already had the property independently valued.

That way you get the entire report, all the information & no hassles (+ it’s deductable) even if you don’t go ahead with the investment.

Michael []

Someone will correct me on this I’m sure, but are you referring to the ‘gift’ part as a way of offsetting capital gains?

Otherwise, its pretty simple. You own the property until the last payment is made. Given that when wrap commenced, there was an agreed sale price all that needs to be done is to deduct any principle made by the…[Read more]

Just thought to relate an interesting scenario to this – especially regarding rental return. Not sure where you’re located, but I’ll use Melbourne as a good example of what guaranteed rentals means.

Early one evening take a drive past the recently completed app’t developments on the Yarra / Docklands district. Remembering that most…[Read more]

I purchased a copy from a company online in Melbourne.

Check out: http://www.uniwin.com.au/products/hlaDeluxe/

The program’s $49.95 & shipping was around the $12 mark. Arrived within 2 days (& I don’t work for them, just found there service to be good & priced well)[].

Regards,

Michael []

Having read thru this & most of the forum related info, I’ve notice that belladonna has exposed a real hole, to which you’ve replied & that is that we need to have clearly defined goals.

In the wrap pack, you state that Dave Bradley & yourself have your goal framed on the office wall & use this as an evaluation tool (“Is doing this deal…[Read more]

Any advancement on this. I personally HATE tape – so much so that I don’t have a tape recorder in my house []. The only way that I can listen to these is out in the shed, or as I’ve done in the past, reformat to .wav & burn back up discs.

How viable is a userpays download facility (in MP3 format similar to other parts of this…[Read more]

Are there +ve’s also? You seem to be in the -ve?

It’s difficult to guage whether this a GREAT deal, or just a good deal when comparing it to other properties around the area. It’s the old adage of ‘worst house in the best street’…

While there some minor structure problems requiring a bit of work, most are fairly cosmetic – eg, removal of…[Read more]

A 1031 Exchange is where the seller agrees roll the Capital Gains from a sold property directly into a new investment property of greater value.

This defers having to pay tax on the Gain, means that the invester has greater leverage & can watch investments compound very rapidly.

This is just one…[Read more]

Thanx for your feedback & assistance. I think that the instalment contract tax thing has been answered.

Short of drawing up a network of companies to offset the tax, are there any deductables directly related to the wrap?

Your thoughts???

Michael []

The new website looks great. More user friendly & easier to access frequently used areas.

Michael []

The first part of this sounds a bit like a quasi-flip rather than a wrap. Not sure if it would work (or the legalities of this) but it sounds good.

About presenting the wrap element of the contract, might I suggest that you clearly explain the term & conditions prior to any agreements or action. Discuss these with your solicitor to ensure…[Read more]

Steve spoke about how he was in the process of organising this at an earlier master’s series.

Could you please also e-mail me this information.

Thanks

Michael []

mickswrx@bigpond.com

I suggest borrowing not more that 80% to avoid mortgage insurance. Also gives you more in the property & greater cashflow.

A further consideration is whether you’re planning on using this as a buy/hold or wrap property. Either way, you’ve automatically got 20% equity in the property. You’ll own the propety sooner if you re-invest the…[Read more]

I was anticipating the RBA raising interest rates by 50 basis points, however, not to be. While the drought has had a major impact on rural economies where cash is still king, there’s not as much of this around at the moment. Rural towns are feeling the pinch & the more affected the area, the less spending.

How does…[Read more]

I found the free 2001 Census data at the below link which I thought to share with all…

http://www.abs.gov.au/websitedbs/D3310114.NSF/4a256353001af3ed4b2562bb00121564/780ca69788870e99ca256b230001faf9!OpenDocument.

A quick download from Adobe (for those that don’t have the right software – it’s also…[Read more]

Congratulations on the ninemsn thing also. Keep me informed.

Michael[]

mickswrx@bigpond.com

I’ve e-mailed Brent / Steve about establishing a trading or swap element to the forum. Bit like meeting point, but where trades can occur. Didn’t want to openly advertise these, so thought I’d ask the right people first[].

Flea,

I’ve a copy of the Kiyosaki / Burley 16 tape set “Secrets of Professional Investors” that I’d like to swap for…[Read more]