In NSW only someone with an equitable interest in the property (land) can lodge a caveat. It can't be lodged for a debt unless you have let the lodger charge your property – such as some builders and lawyers do by including clauses in their contracts.
From what I know so far, which is little, I can't see how this would work because it seems like a scheme designed to defeat creditors.
But it could have the shock effect so someone doing some checks before going to court may just stop there.
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
Sorry I don’t know more of the technical side! We are in WA so don’t have that problem.
Once we have put it into place, I’ll update again
Thats ok, thanks for the info.
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
I final caught up with this seminar in Sydney on 13th November via Stuart Zadel. I didn't buy the product and i won't be. But to my understanding, in a liquidation situation, secured credits get paid first. So her strategy is to set up another entity and put that entity into the line of secured creditors, with some round robin lending and a 2nd mortgage over (your) property. Terry punched a few holes in the concept. I could see a few other complications with it too.
Does any one know what the process Dominique Grubisa has to implement this asset protection ?
When I saw Dominique Grubisa's asset protection product I ran it past our lawyer and his feedback was just the same as Terry's: not gonna work. At best it might mildly discourage a creditor because they have to jump through an extra hoop, but if they want their money it will be easy enough to past it. He also referred to "uncommercial transaction" and "scheme designed to defeat creditors" etc.
It's surprising to see Stuart Zadel promoting a product like this when expert opinion is so clear that it won't work.
Dominiques 1st course "real estate rescue" (not asset protection) would of been done in December, I would be very interested in talking with anyone that did it. She talks of this website/list that gives you an up to date list of distressed sellers ("that you cannot find on the net"!!) just before the banks forecloses on these sellers….. Is it actually worth it? What's with this site that I mentioned? If only banks have access why does she? are there any other hidden things that make it not so black & white as she put it in the seminar? It seems to be waaay to easy if you get my drift!!! I find it quite interesting that they do NOT offer ANY kind of money back guarantee, Stuart Zadel's camp states it because she is only new to all this….what kind of B/S is that!!!!
I am guessing that the site mentioned to access details of properties, just before the bank forecloses, is simply a nation wide court list.
In a default situation you have a reasonable chance of helping a distressed borrower while the 'default file' is still with the Collections Dept. But while the file is with the Collections Dept it's not in the public domain and the lender would be in all sorts of strife with Privacy Laws if they divulge details of the file at this point.
Once the Collections Dept give up on the file, they send the file to their Legal representatives (often an out sourced law firm), to commence the repossession process, i.e. issue a Statement of Claim and then apply for a Writ of Possession, etc.
It is not until the matter has been listed in the courts that the details of the 'matter' go into the public domain.
After having put together a process we call the Assumptive Joint Venture in 2006 and working with a number of distressed borrowers, we have found that trying to negotiate an arrangement after the file has gone to the Legal Dept is rarely successful.
So, for me, having access to a nationwide courts list seems like a pretty under whelming inducement
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
Hi Guys,
Looking for an update from those of you, who did Dominique Grubisa, real estate rescue course.
Can't find any details about it.
Was it worth the money,
Are you still doing it and making money 12 months after , the course ???
Found Wayne on youtube, telling us about his success.
http://www.youtube.com/watch?v=PE1EzPYeiHw
Doing really well, Congrat's
Did notice Wayne is an "Independent Real Estate Professional "
Not sure if that means ,he has inside knowledge for repossessions, or its just a fancy way to say , He's one of us.
Cheers
Here's a few links that explains it in detail.
Asset Protection Webinar
https://aussiedebtrescue.sharefile.com/d/s65c84ccb4ea4877a
Testamentary Trust Webinar
https://aussiedebtrescue.sharefile.com/d/s3ec352de97d4e3eb
Putting it All Together Webinar
https://aussiedebtrescue.sharefile.com/d/s145303a414242d38
These are the videos used to train those who bought the program.
Here's a few links that explains it in detail.
Asset Protection Webinar
https://aussiedebtrescue.sharefile.com/d/s65c84ccb4ea4877a
Testamentary Trust Webinar
https://aussiedebtrescue.sharefile.com/d/s3ec352de97d4e3eb
Putting it All Together Webinar
https://aussiedebtrescue.sharefile.com/d/s145303a414242d38
These are the videos used to train those who bought the program.
so what was the basic idea/approach in terms of how to get property so much cheaper via a bank?
Hi all,
I'd be very interested to hear if her distressed property system is workable or a scam. It does sound a little too good to be true. The 5 or 6 grand she's asking is a lot to blow if it's all shonky but you'd get that back in the first deal if it was actually legit.
Anyone with any experience?
Rusty.
Hi all,
I see there hasn't been any further comments here for a while and I just found this blog today when I was searching feedback on Dominique Grubisa's product on buying distressed property. Has anyone purchased this product and had success with it? I would love some more feedback on it if anyone has any.
Thx
I would also like to hear from anyone who has done Dominique Grubisa's 3 day boot camp on buying distressed properties,
as atm i'm deciding between buying rick ottons course or dominiques grubisa's course
Cheers, Elives
hi guys,
i went to one of the Stuart Zadel seminars and heard DG give her talk; it sounds like extremely promising however:
– it's not addressing the fact that the GFC is Over and the property market is on the way UP and UP
– this means that people don't have to sell anymore as their property has gone up in value and can borrow against the growth
– i can't answer the question as to why someone having to sell will not do it through a reputable agent and sell to the first guy that knocks on their door and hand over to them their equity
– further, those court listings that were presented, there's no guarantee that there's a property behind the court case
– further if there was a property it could be in the wife's name, relative name, etc
– i hate to use the words 'goose chase' but this is what it looks like to me
– i for one won't be joining this scheme as it seems to be designed unidirectional: me paying a huge fee and entering a goose chase
Please anyone who attended the 3 day workshop give evidence to the opposite just so i won't live thinking that i missed a big opportunity!?
Aussiefied wrote:hi guys,– further, those court listings that were presented, there's no guarantee that there's a property behind the court case
– further if there was a property it could be in the wife's name, relative name, etc
There is a guarantee. With any property being repossesed the lender would be suing the owner for possession.
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
I saw her last year speaking in Sydney and was totally taken back by her knowledge and strategy regarding buying distressed property in Australia. She talks the talk and walks the walk and has had some good results from her students. I got her DVD from this site http://www.tgrcashflow.com.au/ which goes through her property strategy. Worth the watch if you have an interest in alternative property investment.
I haven't seen her speak in regards to her Asset protection yet though. Does anyone have any info on this or where I can find out a bit more?
Thanks
I also attended Dominique's seminar and interested in the asset protection package. It is so good to find you here to share your real experience. My understanding is that title office will charge at least $160 to register or remove caveat. My questions is that do you have to pay for those government fee and trust registration fee apart from the $6000 asset protection tutorial fee ?
Is there is any other fee not included in the initial package fee charged by Dominique's course?
I have sent email to clarify above question to her. The reply was that the I need to pay extra for any registration fee associated with Government However, the exact total was not defined.
Thank you
Cooln
So has anyone had positive results with this yet?
$5800 is alot to risk for a sham..
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