Well done – congratulations – how far from home are these units? Do you expect you need to do much to manage?

Me Too. I have received his advertising brochures in the past. There all the bloody same.
Ed is no different. I would not pay his expensive seminars either.

I love his stuff about I am so rich – I just want to help others line. So why not charge $100 instead of $4000.

Good point. In my opinion, Leapfrogging is only possible with growth properties.

It will take a long time trying to save deposits from the little you make from positive cash flow properties.

As properties grow, their rents increase and you have the extra equity for further investments.

<<<<He talks about a property in the book yielding around 15%.>>>>

They are probably around, but he is probably a little silent on all the truth. There are areas within many towns and cities in the US that are a little unsafe. You would not want to go there even during the day. To sell those properties people are willing to sell no money down…[Read more]

Does anyone else have an opinion on Commercial property trusts that are traded on the Stock Exchange.

I think Peter Spann likes them?

<<<<Apparently, he’s been voted for Australian of the Year 2005>>>>

Yeah – by his mates no doubt. Do a search on him. There are many threads about him.

For a more balanced view on property investing – go read one of Peter Spann or Jan Somers books to learn a bit more about the growth side of property investing.

Then you decide whats best. For me, I prefer interest only and growth properties.

Where in Melbourne? There are hundreds in Melbourne.

<<<<<I would suggest since you are debt free, that you release some equity in the property and purchase some cheap rental properties of 70k each either in rural towns or in NZ.>>>>>

I dont. I suggest you read Steve Mcknights book, Peter Spanns latest book and any of the Books by Jan Somers.

Then decide whats best for you. Take into account…[Read more]

I woke up this morning to the 7am news and there was no medals last night. Gee I’ve been spoilt till now.

Go Aussies. Tax payer money well spent.

My mother in law went to a financial advisor. The first thing he said was get rid of your 5 pets. I agreed.

Now the place looks and smells much better. She has more time and now her income is better too.

<<<<St George Insurance now say because I did not send the tenant a letter as per Tenancy Act they will not pay out the figure. >>>>>

What does that mean – have you discussed with your property manager? What letter? Each state is different. Get more information from the insurance company. Maybe if your prepared to pay money to chase the debt…[Read more]

Peter

I have just got back from the Bookshop and bought your Book. I am going to take it on holidays with me in a few weeks. Gotta finish my current Dan Brown book first.

I read Wealth Magic back in 1999 when I came back from my 12 month tour of duty in San Francisco. I also read all the Jan Somers stuff first, then Wealth Magic.

I have not…[Read more]

I think it might be best if the whole family sits down and decides to combine efforts.

Have a good rounded porfolio. A bit of both. Let the positive geared ones finance the ones with better growth prospects.

I believe this will become more common as we go through the cycle of increasing interest rates.

Growth is king not cash flow. You want income -get a job – you want to invest – by assets that appreciate.

My advice would be to liquidate the worse of these properties and hopefully you dont incur too great a loss.

I use a property manager – but I manage them.

One agency I use in Frankston has had about 10 different people in their property management group in the last 5 yrs.

So there has been no continuity. But if rent is late I call them, they call tenant, tenant makes promise, i call property manager to ensure it happens.

Dont rely on property…[Read more]

Thats what I been saying for a while too.

I have the UTMOST respect for ambulance personnel.

I recall some 10 yrs ago – it was peak hour traffic on Friday evening in central Melbourne.

The ambulance could not move with the traffic in the traffic with sirens blaring – the ambulance passenger guy got out, went round back, opened the door, got his medical kit and then started running up…[Read more]

Are you sure? Sounds too good to be true? Can someone else confirm this?

My understanding is that you cannot claim it as an expense and claim it against your taxable income.

However you can include it in your cost base ie. deduct it against the profit you make when you sell the property. Its capital in nature.