Forum Replies Created
Yack,
I good thread to start !!!
Hope everyone out there has had a good year in 2004, has a great Xmas & an even more enjoyable ’05
Now for the Pelican List
2004
– Met our target of 40 IPs way ahead of schedule
– Attained freedom from working, though I choose to continue for now….
– Had Baby #4 a lovely little girl…..
– Decreed to get the chop !!! 4 is enough !!!
– Spent more time with the kids, which is what I feel is important
– Got my Go Kart working again, after some serious modifications…… power wise !!!
– Started Phase II for Pelican, which is a move into renos & development workNow for the :
– 2005 Goals –– To own 60 IP/Houses !!!!!
– To return to Aust…..
– To no longer work for someone else
– To play more Golf
– To spend EVEN more time with the kids
– To Drive my go-kart a LOT more
– To spend some time & $$$ working directly with Charities / people in need ( we do this already, but I want to do more…. )
– Mentor more newbies here & offline ( not saying we are experts at all, but would like to help & guide others )Merry Christmas all………….
Bruham,
I think you will find on Peter’s postings here and on somersoft forums. He mentiond openly that Shares / options etc, provides him with income and added $$$ for more properties…..
So, he’s advocating alternate income sources to build an empire….
Fair enough….
It’s been interesting to note that there has been no question of Steve about his multiple changes in direction….. e.g. wraps etc..
On the other side of that comment though, I guess in today’s climate we have to be flexible to be able to adapt…..
You may know the cost of everything…. but what about the value ????
Yack,
to add my 2 cents to this :
Rural areas – Do have growth, if you are careful / good at the time you buy…
Valuations – yes, we would have thought that as they were the “experts” they would earn their keep and do some homework….. BUT, as we have found recently, on many occassions they don’t even bother to LOOK at the property !! or at best do a drive by…….
Comparing Steve & Peter’s strategies is like comparing apples and oranges…. sure they are both fruits, but the taste is different !!! [blush2]
We are presently doing a mixture of both, and that is doing us nicely… wraps and/or cashflow are nice, but there is substantially more in building/creating equity… it depends on your goals I guess…. We now have the cashflow…..what we want now, is to build capital / equity……
Cheers
Scott
You may know the cost of everything…. but what about the value ????
We have done heaps of deals by having the customer first.. The issue is finding people….. ( which isn’t too hard !! )
In today’s market, with values moving all over the place, it’s probably not that good to be holding something you may not be so sure of moving quickly…….
Cheers
Scott
You may know the cost of everything…. but what about the value ????
We know Rick & we buy houses reasonably well, and are an old referee for his wrap kit…..
My question to you, which you should ask of ANYONE is……
How is your money secured ?? Yes the returns are high, as, effectively he is using your cash for deposit funds I assume….. So, you are effectively providing an unsecured loan……. Or are they expecting you to fund the entire purchase through a loan of your own…..???
Rick is a big player, so, probably all goes well, but you SHOULD think about YOUR security ALWAYS…..
Cheers
Scott
You may know the cost of everything…. but what about the value ????
Hi Phil,
One good point you made there, is, that’s it’s not necessarily about the Number of houses…. I’d suggest it may be more about the amount of INCOME they provide… be it 1, 2, 5,15 or 50…. or more…..
Cheers
Scott
You may know the cost of everything…. but what about the value ????
There is also the potential for CG on 4 properties that you could renovate and sell/re-finance……
Ascending,
I think you will find there are a few groups out there already….
suggest you do a forum search here, AND on the somersoft forums…
Cheers
Scott
Maybe, on a technical side, when members sign up, as part of the “welcome email” that they get sent, they are ADVISED to try a search on the forum, before posting on a topic……
It IS tiring seeing the same ol questions, but I do understand that we have a constant influx of newbies here….. And I don’t mind helping em out….. As was mentioned above, sometimes you learn new things in the teaching of others…..
It’s funny that the same old faces pop up, spouting misinformation about wraps, when they themselves have neither wrapped a property, or, educated themselves on wrapping…..
My biz partner and I just wrapped house # 40 this week….. we have NO unhappy customers… We have a HAPPY bank, HAPPY CUSTOMERS..
WHY ?? because we do things from a CUSTOMER’s perspective……
OK, show you what we DO…. if a wrappee defaults, we usually return their deposit…. DOES A BANK DO THIS ???
PLEASE PLEASE PLEASE, unless you have wrapped, please do not post information here as if you knew what you were talking about……
Sorry to flame here folks, but this is getting tiring…… exactly why, I hardly bother to post anymore…..
Too many lurkers here who spend too much time, posting about things they are not totally knowledgable about……
—-
Terryw – Thanks for your good input here on caveats……So far we have Bought 1 house which had a caveat against it…. everything stopped, until the seller got it cleared off….. same would be the case in a wrappee’s house…. put a caveat against it….
The issue here is, in all honesty about ethics, and, how you carry out your business… it’s not about ripping people off….. it’s about running a finance business…… which in many cases charges lower rates than a bank does…..
peace all…. I’m outta here….
You may know the cost of everything…. but what about the value ????
not sure why I’m posting in this thread, but anyway………..
RACISM exists in EVERY country in the world.. I’ve lived in Asia for close to 17years now, and I can tell you, I’ve seen VERY STRONG or BAD RACISM nearly every day here, in 1 form or another……
Most of it is much worse than “name calling”
Australia is a very tolerant country. We DO however have our fair share of biggoted rednecks out there……
Jess, I’m not sure what you are trying to drive at here…
Yes, is an “ideal world” racism would not exist… Just let me know when you find that planet…. will get in my rocketship and follow the rest of us there….
Until then, I continue to live with an open mind…. People who make racist comments, or are racist in their actions, only show how stupid/shallow & insecure they are……. And those people will be the ones who end up road kill in the highway of life…..
Cheers
Scott
You may know the cost of everything…. but what about the value ????
HUH ???
Jack…. what are you trying to say ???
You may know the cost of everything…. but what about the value ????
Hello,
Let me be the first, thereby opening up the flame war to follow on this one !!!
Vendor Terms financing is not legal in South Australia… This was done MANY years ago, do to various reasons….. but not because of wraps, or anything recent.
IN SA… most people get around this by doing lease options…..
For more info on this, I suggest you visit the VFA website…. http://financewraps.asn.au
Cheers
Scott
You may know the cost of everything…. but what about the value ????
You can be sure of that…….
Acey,
I know you think you are a big fish in the little ponds of investing forums, but, seriously…. stop being an arrogant twirp….. You aren’t a god, and, neither am I or Steve or Jan Somers or any other “guru” It is posts like yours that the regulars go elsewhere….. and by the way, I do go elsewhere… I actually get out there and invest, instead of just talking about it……
Due dilligence is not what goes on here, or at Somersoft….
Somersoft is where you go for facts and information. PI is where you go to debate an issue…..
Stop trying to say an apple is an orange, when clearly, its an apple….
Yack,
drop me a message if you come thru again anytime soon…..
Happy to be a tourguide… if I’m still here…….
Headin “home” soon ( although home for the last 17years has been Asia…. )
Hi KP,
Yeah, Bintan / Batam are very “interesting” places, however I think the risk is too high for me…..
The laws there are decided by whoever has the knife or gun, or…. who you piss off….. No thanks…..
Geylang – yes, quite a “colourful” place !!! [blush2] The food there is good….. but too many distractions [happy3]
Yack,
You guys really missed a lovely meal !!! The Curry is very nice, and, the fish meat from around the head is the most tender !!!
Did you do any shopping at the ” House of Hung Jewellers” ??? ( I Kid you Not !!! ) They have a large female clientele…..
Steve,
You’ve been deleting too many posts anyway !!!!
HEHEHEHEHEHEHEHE……..
if you can, try to get a USB keyboard…. much more reliable….. and you usually get more functions as well……
Cheers
You may know the cost of everything…. but what about the value ????
Yes, but hang on now….. Steve’s major strategy at the time was wraps, which he is now staying away from….
Peter’s strategy is a more long term, buy & hold one…..
BOTH have their advantages & disadvantages… it depends on your own goals….
Cheers
Scott
You may know the cost of everything…. but what about the value ????
