Hello Everybody
I have a friend who gave me a printed copy of Steve Mcnight’s business partner Dave’s No-brainer 10 year $150,000 passive income strategy spreadsheet.
I’m hoping that someone who knows about this spreadsheet and the concept behind it can shed a little light as to how it works.
From what I understand the no-brainer is a spreadsheet that is part of the Wraps pack.
It is a plan where by an investor buys 4 positive cash flow deals a year for 5 years, at the end of this five year period you would control 20 properties.In the second half of the plan an investor uses the surplus income from the +cf properties to pay down debt,
After five years of paying down this debt you own the properties outright giving the investor $150,000 p.a. passive income.
I love this plan and I wish to put it to work for my self.
But there is one question that I would like to find an answer for in regards to this strategy as it’s not clearly explained on the printed copy that my friend was kind enough to give me a copy of.From what I understand lending institutions have two major requirements from potential clients in order to loan money to them, “deposits and serviceability”.
Anyone that has seen Dave’s spreadsheet can see that serviceability is not an issue but Equity for deposits doesn’t seem to be listed on the plan from what I can see.I would just like to know if I have missed something. Is there an assumption that there is a certain amount of capital growth? Or maybe Value Adding thru quick Wow factor Reno’s ? Saving ones employment income? Or a combination of all In order to give the investor equity for further deposits?
Is this strategy meant to be applied in a Growth Stage of the property Cycle?Maybe there are investors on this forum that have successfully used this plan of Dave’s
And can explain to me how it is done.
I love the idea behind Dave’s No-brainer plan and if anyone can point me in the right direction I would be Grateful.Thank you
Native_MetaLWhy not buy the Wrap pack.. and get ALL the answers ??
REDWING[biggrin]
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculator…maybe because it costs too much Redwing
[bomb][whip]“If You never never ask, you’ll never never know”
I remember reading Dave’s plan. Since he is looking at cheap properties, coming up with the deposits shound’nt be too hard – $10,000 per property (plus costs). If you are a couple saving together, it would be easier. If one your own, it would be harder, but you could start off slower and speed up as you progress and all the rent comes flowing in. There may also be capital growth to kick you along too.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Hi,
A couple of things:
1. Is it a bit rich to come on a forum which I pay for and declare that you have an illegal copy of a resource that other people have paid for?
2. As for the cost… people have to value the information on offer. If people aren’t willing to pay the $2k to get the education then I doubt the information would be of much practical benefit because they probably wouldn’t be the action takers that would use it to acquire a substantial property portfolio.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
This is the bit that bugs me about all this investment seminar and education stuff, there are many rich fobs like rob kio and steve mc etc etc etc and they are happy to give a certain amount of information up, but if you want the important stuff, then you have to pay, here they are rich and comfy and quoting all this stuff, but all they want is more money, more money, more money.
It all comes down to greed vs really helping out people. The people who are lower onthe chain never seem to be able to afford to buy the best information, because if they do they wont be able to afford to do the actual investing.
Everything i know and do, i do for free, even though i am still only small in comparison and even if i have put alot of effort and time into it, i just dont want others to have to go through the same bullcrap to get somewhere that i have gone through.nerr
Kev[weird]
[email protected]Steve,
Could you please clarify the following:
“Is it a bit rich to come on a forum which I pay for and declare that you have an illegal copy of a resource that other people have paid for?”
I am not sure that it is illegal to have in one’s possession a copy of something someone else has paid for. Having some knowledge of Intellectual Property, copyright policies and law, and trade practice law, I do not know where the illegality comes in. Since when is it illegal for a person who has paid for a good or service, to loan out that good to another person?
People loan and share books, CD’s, programs etc all the time. I am not making this inquiry based on any opinion of the merits of such loans. I merely question how you see such behaviour as illegal?
kay henry
Kay,
I think the point is that it may be okay to loan out a copy for someone to look at, but if that person then starts using the templates,models, knowledge/steps outlined in the information then maybe it becomes illegal.
Depends on the type of legal mumbo jumbo that was included with the originally purchased material.
People do loan and share books and cds, but if they then start making copies it becomes illegal.
From reading the original post it is not clear whether Native_Metal will actually use the copy or just requires further information about it.
Depends on what he actually plans to do with it I guess.
wejons1
Originally posted by kay henry:People loan and share books, CD’s, programs etc all the time. I am not making this inquiry based on any opinion of the merits of such loans. I merely question how you see such behaviour as illegal?
Kay Henry,
If you read the fine print in the copyright of many books, DVDs and similar copyright protected works you’ll find that they specifically forbid lending or resale.
This, however, is rarely enforced
Cheers,
Aceyducey
Hello again
Firstly I must say that I was shocked to read your post Steve, I was completely unaware that I was doing anything that you or anyone else would consider illegal.
As I stated I was given a one page printed copy of the No-brainer spreadsheet not the actual electronic copy. And thus was unaware this was breaching copyright.Secondly I have spent a hell of a lot of money not only on your own books templates and seminars Steve but also other Gurus as well, so please don’t point that accusation at me as I consider my self to be a person that is willing to pay good money for good information.
As I was led to believe the No-brainer was part of your Wraps pack, I do not wish to use a wraps strategy at this point in time therefore I do not consider the payment of $2000 to answer one question that was floating around in my head to make good financial sense.
“Ask your self the same Question”Steve I’m sorry if I have caused you any harm as this was the last thing I wanted
But please if you have a problem with something I write about on the forum in the future
I would prefer that you PM or email me to let me know you have a problem, as I do not consider it very professional to Embarrass Members of a public Forum.I hope you don’t take what I have just written the wrong way as I have a hell of a lot of respect for you and your achievements but I do feel I was given a rough time by your comments and in no way did I intend to upset your self or anyone else.
Kind Regards
Native_MetaLnative
people do tend to go on an ‘attack mode’ at times, sometimes it isnt really aimed directly, it just seems that way.
I understand that to have a ‘copy’ of something is illegal, to borrow someone elses ‘back up’ copy well. we can all play the games…
I buy my own books and products and download freebies where they have them for whatever…
It is rare for me to attend a seminar, I love to learn, but there are ways to self educate, you dont need the gurus to teach you it all.
Creativity in accounting? well I dont think so, some of these things have been around for years, made popular by media interjections here and there, strategic planning I call it.
The spin off from these things is enormous, good money spinner. Now graned Steve provides this site. thanks, and from this, Steve may well derive additional benefits….more sales? more seminars, Maps?
I do beleive in pay for a service, if you want the service I do however sometimes question the expense of such services…
” a blind man may see what a sighted man may not”
Yes, Steve did jump to conclusions and i hope he doesn’t delete this thread.
But i’m sure it’s ok to lend a book or CD to a friend. That’s why it’s also possible for someone to resell their wrap pack, although copying it before selling would be an infringement.
It’s a well known established law that says if you buy something of intellectual property, you have the right to resell it.
This is why it’s possible to buy 2nd hand books and CD’s.
I’m with you krazystyler. How much is enough for these guys? How many suits can they wear? How many boats can they ski behind? After making their millions and buying a home in a leafy eastern suburb, I reckon these guys should be giving something back… this is what the Lord preaches.
I’m not here to judge anyone. I am here to talk and learn to like minded people. If you are in the public eye, you are continually being scrutinized and it can be rather uncomfortable at times. I find some days, I will lash out to protect myself before I think what I have said. It is human nature to protect ourselves and our property. It is very hard to prove to people you are a nice person with no evil intentions. Unfortunately the more successful you become the harder it is. Also why do people seem to think they know how much something must cost without doing the excerise of actually finding out. These people seem to think everone is ripping them off.[gossip]
Regards
Rebecca2
Don’t judge until you know the real facts.[sealed]Just get on with the learning[wink2]
Beck.
I can be different!Hi,
Shesh… all i said was:
1. Is it a bit rich to come on a forum which I pay for and declare that you have an illegal copy of a resource that other people have paid for?That’s not too harsh is it?
To me, this is a simple matter of breach of copyright.
You have a copy of something that, whether you realise it or not, ought not have been copied. I am only standing up for the rights of those that paid for the material who should not be disadvantaged by those who have not.
Steve I’m sorry if I have caused you any harm as this was the last thing I wanted
But please if you have a problem with something I write about on the forum in the future
I would prefer that you PM or email me to let me know you have a problem, as I do not consider it very professional to Embarrass Members of a public Forum.Well, I don’t regard it as fair play to make an illegal copy and then use this resource to flaunt it!
Still, no harm taken… only a slight cheek sting since I see this as a slap in the face.
there are many rich fobs like rob kio and steve mc etc etc etc and they are happy to give a certain amount of information up, but if you want the important stuff, then you have to pay, here they are rich and comfy and quoting all this stuff, but all they want is more money, more money, more money.[dazed]
Aw heck… you’ll never get anywhere with this attitude. ‘If you want the really good info hey?’ – make makes it really good – the price?
LOL
Enough of this – move on to more positive things.
Bye,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Originally posted by xxx:Yes, Steve did jump to conclusions and i hope he doesn’t delete this thread.
But i’m sure it’s ok to lend a book or CD to a friend. That’s why it’s also possible for someone to resell their wrap pack, although copying it before selling would be an infringement.
It’s a well known established law that says if you buy something of intellectual property, you have the right to resell it.
This is why it’s possible to buy 2nd hand books and CD’s.
I’m with you krazystyler. How much is enough for these guys? How many suits can they wear? How many boats can they ski behind? After making their millions and buying a home in a leafy eastern suburb, I reckon these guys should be giving something back… this is what the Lord preaches.
I think every one has fair points to make here.
I must also state however I could be wrong but I believe some of the items that Steve has up for sale, all the profits go to charity. Am I correct in this statement?
I may also state that I have once gone halves in a wrap pack with a friend, (not Steve’s) out of curiosity to know more about wrapping. However not intending to actually use it particularly at this stage, as it is illegal in my state. We understand it legal to copy your own pack as a back up. Is it not then legal since there were 2 owners of the pack that we share in the info?
If I had to purchase it alone I would never have done so and neither would my friend. So isn’t that win/win? We got the info we wanted, (but not for use) and he had a sale.
Im sure im going to be knocked down for this statement, but that’s honestly how I see it.
Regards Bear
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DONT MISS OUT!!!!!And now Yes youve waited long enough Its my turn.
Tut Tut to all of you.Here we all are enjoying a great forum and learning a shitload of stuff from each other and how.
Because Steve McKnight bought us all together by creating a great site,writing a great book and teaching us some great stuff.
Here he is paying for the site that you all find so invigorating and educational but you cant wait to bag him for making a couple of bucks.
Get your act together and thank the man.
If you are jealous of his achievements then get off your arse and do better and maybe you can start your own site or write your own book or make your own wrap pack.
Instead of bagging him why dont you emulate what he has done.
Russ.Wow Russ,
That was some speech……I don’t think there are religious fanatics that pay the same amount of homage to their Gods!!!! LOL
Seriously, people are entitled to their opinion; there has been no wrong here; just an airy of same.
That was very nice of you to blow wind up/for Steve like that, hope he appreciates it!!!! Or did you get paid for it?????
C’mon see it for what it is…a bit of banter, and get off your soapbox.Jo
I do understand why one should respect copyright. But people who say that they NEVER have borrowed, made a copy, or shared books or information or CDs with friends are hypocrites. We all have done it at some stage. Has no-one ever burnt a CD or copied some music?
May be it is wrong, but I can think of much worse things people do, and this is generally approved by others!!!
What about taking advange of desperate people who are financially struggling?
Paying them peanuts for their property so YOU can make more profit.
Is that OK?
HmmmOriginally posted by Celivia:What about taking advange of desperate people who are financially struggling?
Paying them peanuts for their property so YOU can make more profit.
Is that OK?
HmmmYou know Celivia,
there are some people in here that will more than likely take that as a direct attack on them [blink] or that will think that you have a twisted view of rich people being “evil” [angry2]
Either way, you are entitled to your opinion, and I hope they are mature enough to actually see that you are not attacking them, just illustrating that sometimes people’s priorities get distorted.Cheers,
Jo
Originally posted by Celivia:I do understand why one should respect copyright. But people who say that they NEVER have borrowed, made a copy, or shared books or information or CDs with friends are hypocrites. We all have done it at some stage. Has no-one ever burnt a CD or copied some music?
May be it is wrong, but I can think of much worse things people do, and this is generally approved by others!!!
What about taking advange of desperate people who are financially struggling?
Paying them peanuts for their property so YOU can make more profit.
Is that OK?
HmmmCelivia, NEVER confuse what is legal with what is ethical.
It may be in your opinion unethical to pay less than someone asks for a property – however it is 100% legal. With a willing seller & a willing buyer whatever price is agreed is fair. Using information or relative power to influence that point is also legal up to the point where you actually break a law.
Stealing someone’s hard work – be it their writing, their singing or other copywritten material is ILLEGAL. Whether you believe it is ethical or not doesn’t enter into it.
Frankly your viewpoint needs to be reconsidered. I bet you wouldn’t feel the same way if you had ever produced a work and sold it under copyright…then seen some people boasting about how they have an illegal copy. It’s dollars for feeding your family and it’s just plain rude as well (which is Steve’s point).
If you hold the view that everyone who publishes a work under copyright is wealthy and ‘can afford it’ – well you’re the one deluding yourself and behaving unethically!
Think about your attitude some more.
Cheers,
Aceyducey
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