Hi,

Apologies for not responding sooner but I am on a deadline for the book.

Paul277, to answer your post directly as requested…

The point where I get confused is where you write:

quote:Now if i have a budget of say $200 per week that means most houses are going to be worth between 170k and 200k

At this amount the property would not be…[Read more]

Hi,

What was the source?

Regards,

Steve McKnight

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

Paul277,

quote:Free speech is not allowed in this forum…

Please. I have gone to great lengths to try and outline that any post that contains:

quote:…or transmits any unlawful, threatening, abusive, defamatory, pornographic, profane or otherwise offensive information or material of any kind, including, without limitation any information or…

[Read more]

Hi Quasi,

Yes – congrats on your marriage… the most important partnership of all.

Some quick advice… many people work at a job, work at investing, even work at sport. Yet when it comes to marriage, people don’t think that their marriage needs the same amount of work or attention.

At the moment my wife and I are working through a couple of…[Read more]

Hi,

OK… the contest is now over with a few surprising results.

As I don’t want to let the title out of the bag just yet, the winner will need to wait a few more weeks before receiving his/her prize.

Thanks to everyone who contributes… there were some fantastic ideas.

[]

Steve McKnight

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

Hi,

I don’t think that there’s a rule of thumb to apply here. Try to negotiate the best discount you can that still results in a win-win outcome.

Sorry to be vague.

Based on the deal that you mention, I think you understand that if it makes money then trying to save a few sents may cost you thousands if you miss out.

Just be careful with the…[Read more]

Hi,

Why wouldn’t you invest for BOTH capital gains and income returns?

The discussion here seems to be you either get one or the other…

My experience is that it is possible to get both.

Bye,

Steve McKnight

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

Hi,

Yep – I’ll add this to the list of ‘wants’ when the site undergos it’s next upgrade – which will be in the next few months.

Bye,

Steve McKnight

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

Hi,

If all you did was make money, then you’d have to make money.

The question then (in my mind) is does this investment make money from day one.

Crunch the numbers and I expect that it won’t, which is why you’ll receive tax benefits (ie. write off the loss).

Bye,

Steve McKnight

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

[]

It’s nice to receive positive feedback.

Steve McKnight

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

Hi,

Andrew asked me before making this post and I was happy to help him out.

Please direct your questions to his e-mail account.

Bye,

Steve McKnight

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

Hi,

Thanks for answering this post.

Yep – what I wrote for NineMsn covers the issue nicely.

Low ball offers create a lose-lose-win outcome…

The vendor loses (low price)
The agent loses (low commission and unhappy client)
The buyer wins (low price)

If that’s the way you want to invest then fine… but good luck as if you get a deal over the…[Read more]

Well Said.

Let’s move on…

Steve McKnight

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

Hi Andy,

Yes – I do what you have suggested for finding wrap leads.

In the first instance, I run classified ads to attract leads and then once filtered I qualify them to buy property up to a pre-determined level.

quote:
If one could make an offer on the property subject to the tenant-buyer going through with the lease option or wrap, it would…

[Read more]

Hi,

My input is:

quote:Steve’s 6th Law Of Property Investing Success: Understand The Difference Between Fact And Opinion

Maybe the real estate bubble will burst, and maybe it won’t, but until it does… the only thing we can go on is opinion.

Now I can quote facts (since REIA data began in the 1980’s) for every major market in Australia and…[Read more]

Well said Jason.

There is some thought that the way around ‘double stamp duty’ is to buy an option over the property rather than the property itself.

So, a theoretical case study might be:

Jason finds a property in the market for $100,000. Looking for a win-win outcome he creates a call option to buy the property at $110,000 with an exercise…[Read more]

Hi Mouse1,

Thanks for your post and welcome to the forum.

By pooling your equity and resources you certainly have access to more money than as individuals.

To ensure that you can secure finance after you have maxed out, it’s essential that you have an effective accounting/tax structure.

At this point, provided that all the debt is in one…[Read more]

Hi,

Let me point out that this is not a ‘wild west’ forum. It is a moderated forum.

As such, ANY post by ANY member that is deemed to be in voliation (in the moderator’s opinion) of the forum rules will be either edited or removed.

So, Paul (or Tails, or whoever) when you make a post that is defamatory then it will be deleted. If you persist…[Read more]

Hi,

Late last year a friend of mine, unfortunately, had a miscarriage and needed to see an obstetrician to make sure that everything was ok.

She was only with the obstetrician for about ten minutes, who did an examination – found that nature seemed to be running its course, but ordered blood tests just to be sure.

When my friend went up to p…[Read more]

Hi,

Let me say a couple of things…

1. I’m more than prepared for you to have your say, BUT, it must be said in a respectful manner and when you make a statement I think it’s reasonable for you to substantiate it with evidence. If not, then you leave no option but to edit or delete your post as per the terms and conditions outlined when you…[Read more]