Hi Pinky,

Thanks for your honest and direct thoughts.

I agree that it can be confusing… but at the end of the day I always come back to this:

PropertyInvesting.com was created for people to share information that assists is more accurate and profitable property investing.

In short – it’s a tool to help people with questions.

We welcome a diverse range of opinions and thoughts, however I for one am (was?) becoming worried that posts were becoming more aggressive and far less constructive in the criticism.

Yes, it’s your right to be negative, but it’s our right to protect the integrity of the forum and take action to ‘keep people on track’ in terms of gently guiding discussion back to investing matters in such a way that we can all learn.

Certainly, I’ve received a lot of feedback from veteran members that they shared my concerns and want to see a return to prior days of helpful guidance upon which the success of this forum is based.

If you’re having a bad day then do the best you can to get through it, but don’t take it out on the forum.

Once again, remember that this is an investing forum and not a public slanging arena.

I’ll jealously protect what many have worked hard to build here by adopting fair but firm moderation when needed.

And the bottom line is those that don’t like it… tough.

Have a lovely day.

Cheers,

Steve McKnight

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Remember that success comes from doing things differently.
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Hi,

Let’s move back to Apr 1999 and I put a post on creonline.com about the 11 sec. rule.

A received a host of replies telling me it was a aste of time.

Good thing I didn’t listen to them… who knows where I’ll be now.

11 sec solution deals do exist… we bought one in Ballarat just last week. The problem is that people let their bias and ignorance get in the way of seeking out problems.

Sure, 11 sec pretty houses aren’t falling off trees like ripe apples, but great deals exist in every market.

Of more importance is having an investing plan and regularly looking for deals in a variety using a variety of tactics, including pounding the pavements yourself.

As for small towns… rememeber, it’s about cashflow first and capital gains second. Good tenants live everywhere.

Bye,

Steve McKnight

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Remember that success comes from doing things differently.
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Hi,

Presumably we are talking about Henry Kaye here?

I noticed that he is featured in a front page story about the ACCC and ASIC doing investigations.

You know, a lot can (and has) been said about Henry Kaye. But I think it is a very long shot to suggest that he is responsible for the property bubble (as put forward in The Age).

Remember that all Kaye is doing is selling his system for investing. I don’t know whether it works or not – that is a question for the individual investor to consider.

From personal experience though, I think that he hard sold the notion of positive gearing when in fact the properties were badly negatively geared. Still, five minutes of financial due diligence would have brought that glaring problem to the surface.

Interesting quote from H. Kaye though:

quote:

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I believe in karma. Everything that happens to me in a negative way I believe is deserved.”

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Let’s see what happens and how much of it is deserved… one thing is for certain… a trial by media is anything but fair or appropriate.

Regards,

Steve McKnight

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Remember that success comes from doing things differently.
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Hi,

There is some good advice here. Ultimately you need to trade the passive:active nature of yourself with the passive:active nature of your rental manager.

The problem that I see investors making is that they think buying the property is the hard part. Any chop can sign a contract, the real skill kicks in when you try to achieve above market rentsor secure a good tenant looking for a place to call home.

Sadly, many investors leave that tricky task to a rental manager and this rental manager is rarely if ever ‘qualified’ by the investor before getting the business. Instead the % commission is the driving force.

Well, my aunt says that if you pay peanuts then you should expect to attract monkeys.

That’s why I recommend that, unles syou trust your rental manager, keeping a hand in qualifying your tenants is a wise thing to do.

As such, you need to get to know them, but never get caught up in personal issues other than sending Xmas and birthday cards.

Afterall, you are a landlord, not a life coach.

Cheers,

Steve McKnight

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Remember that success comes from doing things differently.
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Hi,

He’s a lawyer and probably more expensive than the average conveyancing clerk, but all our NSW deals are done via the offices of Tony Cordato.

Ph: (02) 9290-2773

Tell him I sent you as I am trying to get a free lunch out of him []

Bye,

Steve McKnight

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Remember that success comes from doing things differently.
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Hi,

Here is my response to Terry Ryder’s articles which I have submitted to Neil Jenman (at his invitation) for publication on his site:

>>>

Thanks for the opportunity to comment on Terry Ryder’s articles as published on your website.

I thank Terry for his comments, as I feel his heart is trying to protect those that might be disadvantaged by (1) the wrap investment technique and (2) involvement with the Today Tonight offer.

I began investing in May 1999, and since then have achieved great success using various real estate techniques. To a large extent, I have tried to share my knowledge and experience with others in the form of a free newsletter, running seminars, hosting a website, and, more recently, writing a book.

In no way do I profess to have all the answers, nor do I claim to have any supernatural ability. Yet, in some way I do feel empowered to share my experience and to try and help other people free themselves from the need to work.

Terry makes many claims in his articles, and knowing what I know, some of them are simply inaccurate while others are nothing short of defamatory. It’s not my intention to list these issues, individually refute them, or in any way retaliate by questioning Terry’s integrity in the manner that he has questioned mine.

Ultimately the facts, which speak for themselves, need to be separated from the opinions, which can be clouded by bias.

To this extent I draw your attention to just one paragraph from Terry’s second article:

quote:

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“He (McKnight) has challenged me with this question: Do I know anybody who has been ripped off by him? The answer is: No, I don’t.”

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Enough said.

There is a way to honourably make money using real estate and it involves creating win-win deals. Wraps can be done in a way where all parties stand to gain and I have much personal experience in constructing deals which result in this outcome.

However, sadly, not all investors adopt a win-win philosophy and instead prey on the truly disadvantaged and / or break the law. These people need to be fully and completely exposed and brought to account, which is why it is both good and encouraging that the various State authorities are investigating those who offer vendor’s finance. Only in this way can those with integrity be distinguished from those who are in it for a quick buck.

Surely it is a gross generalisation and horribly ignorant to conclude that all investors who profit from wraps are immoral and terrible citizens.

I constantly challenge myself with always adopting a position of high moral integrity. I hope in my heart of hearts that my motives are not based on greed. I believe I can have a profound and positive impact on people’s lives, which is why I continue to look for opportunities to help.

I urge you to let the facts speak, and for me to be judged by my accomplishments and not by one journalist’s opinion.

Steve McKnight

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Remember that success comes from doing things differently.
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Hi,

It would pay to check this with the State Revenue Office, but my understanding is:

1) All you need is an intention that you will live in it. To this extent there is a substance over form approach to the grant. Before you get too creative, we’re talking $7k here and, to point out the obvious, defrauding the Commonwealth is a crime.

If you only live in it for a short time then you might have a hard time explaining how it was your PP of R.

2) Probably the things that you have mentioned will do the trick. At the end of the day though, you will be making a declaration on the form that it actually is your home and as such it always pays to be 100% honest.

Cheers,

Steve McKnight

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Remember that success comes from doing things differently.
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Hi,

Just clarifying here…

We are moving from Snitz forums (on a asp platform) to new forum software (on a php platform).

What all this means is that the PI.com tech heads get to drink lots of coffee at weird hours while we sleep. In the end we will all hopefully benefit from a faster and much better website.

It shouldn’t be too much longer. A matter of days rather than weeks, hopefully even this weekend.

Regards,

Steve McKnight

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Remember that success comes from doing things differently.
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