Hi Pin,

No – I don’t want to open it as:

1. I want to show respect for Richmond’s decision to lock it; and
2. It contained discussion which is now redundant.

Still, your and Mini’s discussion remains relevant and as such, I have copied and pasted her post below for you to reply to (I hope this is adequate):

quote:

hey pin,

in reply to…

[Read more]

Good call… onwards and upwards, especially seeing that Pinky did have the resolve to apologise for the benefit of all.

It takes a special person to fess up to making a mistake, and an even srtonger person to do it in a public forum area.

Bill, Pinky et. al. …keep posting please, but let’s focus on helping people with their investing. If…[Read more]

Hi,

The good thing about the forum is you can always go back and edit or delete what you say and change the official record.

That way you can feel just like a politician and having the chance to edit what you said after saying it but before it is entered into Hansard.

Cheers,

Steve McKnight

**********
Remember that success comes from doing…[Read more]

Hi Pinky,

Wow – that took a lot of guts! Thanks for doing this – I very much appreciate your sentiments.

Of course, I hold no grudges. But this wasn’t always the case… when I was sacked in Mackay it took a long time for my self confidence to return.

I agree with Leigh that there are no guarantees, but I would hope that your trust in me…[Read more]

Hi Ben,

I’m not making any promises.

Let’s finish what’s been started and reassess.

Still, I can say that it will those that have attended seminars and contribute on this forum that have the best chance of being selected IF I do anything in the future.

Interesting… some people have said they’d do anything to be mentored. Anything? Well, we…[Read more]

Hi,

Thanks for the comments of support.

Sometimes I have to shake my head in disbelief (sometimes shock) at the things people write.

I’m never disappoineted though. What people say is indicative of how people act and it’s not too hard to spot those that will be successful from those that will struggle.

But it’s all about a journey rather than…[Read more]

Hi!

All excellent answers.

To be honest, at the time of writing, there was no alterior motive behind ending the book with Tenants From Hell [] It’s just the way things ended up.

However, if I can take credit retrospectively, I would have crafted it this way because people who read the book and think “Oh no, that’s too scary from me!” should be…[Read more]

Hi,

We are always looking for people who want to help out and act as moderators.

However, what’s required is someone who is happy to enforce the rules, even to the extent that it offends in order to keep this investing forum ticking over.

Anyone who wants to do this – please, help us out!

Drop an e-mail to Brent:…[Read more]

Hi,

In the book I mentioned that time rich but money poor people can look to do JVs and share the profits.

Or else you can sell the deal to another investor, cash up and then buy your own property next time around.

In your case, start slow. Look to buy say 2 properties per annum at the beginning while you find your feet.

Terry raises some…[Read more]

Hi BrettC,

Thanks for making this post.

I accept that it is getting harder to find positive cashflow properties that what it was back when I started.

But that is not to say it was easy back then either. I think people misunderstand how hard it was… they didn’t just exist on every streetcorner.

No, you had to try and find a property and work…[Read more]

Hi,

This reminds me of the old accounting joke.

There is an economist, engineer and accountant all going for a job. They are all worthy applicants.

The interviewer asks the same question of all three… “what is two plus two”.

The engineer thinks and replies “Well, the answer to 2.00000 + 2.00000 = 4.00000.”

The economist thinks and replies…[Read more]

[]

Steve McKnight

**********
Remember that success comes from doing things differently.
**********

Hi,

Thanks for taking the time to write this.

It just goes to show that at least some (and perhaps most!) of the techniques that worked 3 years still work today.

Good luck with the rental.

Perhaps you can now get the word around the Cop Shop and see if some coppers want to share a property that’s local to the station too!

Cheers,

Steve…[Read more]

Hi,

Ah (says Steve with a wry smile)… someone in the 1% of people who will actually use the information given.

Sensational effort!

Now imagine how much other useful tips are in the book just waiting for you to road test.

Cheers,

Steve McKnight

P.S. Thanks for the feedback… it is much appreciated [8D]

**********
Remember that success…[Read more]

Hi Peter,

Thanks for your post and welcome to the forum community.

Re: /2 and * 1000… this is just the equation that always results in a 10.4% return.

Re: Interest…

Purchase Price = $250,000
Loan @ 70% = $175,000.
Interest on loan @ 8% p.a. = $14,000

Cheers,

Steve McKnight

**********
Remember that success comes from doing things…[Read more]

Hi,

Just to clarify…

IMHO, being negative is being overly pessimistic without any suggestions for imporvement.

Being constructively critical is identifying problems and then offering solutions too.

I’d like for this forum to be full of posts of the latter rather then the former.

quote:My criticism was about a book that, in my opinion, sells…

[Read more]

Hi,

Not that I know of… I pay my rental managers out of my cashflow profits.

Cheers,

Steve McKnight

**********
Remember that success comes from doing things differently.
**********

Hi Christopher,

Thanks for your post. I also saw your other post, but at this stage, to be fair to other similar posts that were edited, I needed to edit yours too as external advertising is not allowed.

But please don’t see this as a put-down.

In fact, I’m greatly encouraged by your post. You have a bright future ahead of you if you can…[Read more]

Hi,

The range that we have seen is low of 5% (Vic) – to a high of 10% (Tas).

Add to this any fees such as letting, statement, inspection, tribunal appearance etc.

The wide range makes it critical that you complete a due diligence prior to buying so you can quantify the likely cost.

Of course, you can save this cost by self-managing… but what…[Read more]

Hi,

Positive cashflow most often exists when you solve problems.

You certainly seem to have found a problem, but I’m always cautious when there are structural problems since these can be very expesnive to fix.

The way forward has to be to have a builder do a thorough inspection and provide a written quote for the repairs. You can then use this…[Read more]