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  • Profile photo of BEAR1964BEAR1964
    Participant
    @bear1964
    Join Date: 2003
    Post Count: 702
    October 8, 2003 - 7:43 am

    Greetings all

    I can see that Bribie has great disappointment in his post and its sad he will let that stop him maybe achieving more.

    I also was disappointed, however I could have been wrong with what I assumed, its not matter, Steve has been very generous with is time and effort and I applaud him for all his positives, and he has many.

    ATM I am scared shitless I am in the process of setting up a family trust and taking a loan out on my family home for the biggest gamble of my life to be used for deposits for investment properties, I HATE DEBT……….LOL. (This is hard for me to admit but I am even shaking)[B)]. But its now time for me to practice what I preach in regards to Feel the Fear and do it anyway. This is very scary for me as I am relying on the careers pension if these properties don’t work for me. But I thank Steve for this forum and his book, it has given me a great opportunity to network with excellent people like all of you on this forum. [:O]

    Steve and all Forumites I thank you for giving me the courage to step out of my comfort zone, the rest is up to me now.

    Regards Bear
    [:0)]

    Profile photo of BEAR1964BEAR1964
    Participant
    @bear1964
    Join Date: 2003
    Post Count: 702
    October 8, 2003 - 3:38 am

    Hi Westan and Crashy

    I think you BOTH have been very professional in apologising and accepting.

    Having said that I loved your debates, and the wisdom and courage of Westan to see he was hitting below the belt is great. I love a good debate to, and yes sometimes I hit below the belt, especially to those I care most about.

    I wonder if Westan has a secret crush on Crashy??[:X][}:)][:0)][:P]

    Regards Bear

    Profile photo of BEAR1964BEAR1964
    Participant
    @bear1964
    Join Date: 2003
    Post Count: 702
    October 7, 2003 - 9:16 am

    Hi HQ

    Thanks for your reply.

    Yeah I am aware of the rent to buy and lease options and have been to Rick Ottens Seminar on the subject and yes I am still investigating it further.

    Thanks HQ

    Regards Bear

    Hi NM

    If you borrow the full amount then you have larger repayments hence the need to charge higher rent for it to be positive cash flow. One could price themselves out of the rental market.

    I hope this helps.

    Regards Bear

    Profile photo of BEAR1964BEAR1964
    Participant
    @bear1964
    Join Date: 2003
    Post Count: 702
    October 5, 2003 - 2:33 pm

    Thanks Wilandel

    It was great reading, I have saved it to be read as an affirmation!

    Regards Bear

    Profile photo of BEAR1964BEAR1964
    Participant
    @bear1964
    Join Date: 2003
    Post Count: 702
    October 5, 2003 - 2:25 pm

    Greetings all

    A time and a place for everything! This being the soap box and my team winning the South Australian National Football League grand final today and im half plastered, I wouldnt usually say this , but since its the Soap box now I just thought I would add this post to get a flame next to it !!!!!!!!!!!…………..LOL

    Reagrds Bear

    Profile photo of BEAR1964BEAR1964
    Participant
    @bear1964
    Join Date: 2003
    Post Count: 702
    October 5, 2003 - 2:19 pm

    Pinky

    I think you have alot to offer this world. You are a leader in your own right!

    You are an amazing person with alot to offer this forum , however it would be sad to see you leave but if thats what you are meant to do , then so be it , and im sure that will lead you to somewhere else where you can be a leader in your own right! Maybe even your own forum . and if that is the case i would love to be a part of it!

    Kindest regard Bear

    Profile photo of BEAR1964BEAR1964
    Participant
    @bear1964
    Join Date: 2003
    Post Count: 702
    October 5, 2003 - 9:51 am

    Hi Arty

    Thanks for your reply and your opinion.

    May I ask you this question?

    Lets assume you like fishing, and you were fishing with a group of fishing buddies in a area put aside for fishing only and you were catching beyond your bag limits achieving your goals and having a great time. A group of people being themselves come along and start throwing stones in the water to scare the fish away. Then a group of jet ski’s come in to the area where its not intended for them to be, it’s a fishing only area and they start running amuck and the fish are now gone completely. Does that make them honest and you dishonest? Are you being dishonest if you tell them you don’t like their behaviour? Even though you might like playing with jets skies yourself don’t make your dishonest if you want to fish does it?

    I hope this helps put things in some perspective?

    If not well that’s ok, and well be yourself by all means I wouldn’t expect anything else from anyone.

    Regards Bear

    Profile photo of BEAR1964BEAR1964
    Participant
    @bear1964
    Join Date: 2003
    Post Count: 702
    October 5, 2003 - 2:22 am

    Hey Insider

    Thanks for the explanation!

    However i am none the wiser , keeping in mind this is a toatlly new world for me .LOL

    I would love to learn more about what your speak of tho either on the forum or personally.

    I can be contacted at [email protected]

    Thanks again

    Regards Bear

    Profile photo of BEAR1964BEAR1964
    Participant
    @bear1964
    Join Date: 2003
    Post Count: 702
    October 4, 2003 - 5:47 am

    Hi insider,

    I dont understand what you mean by “Buy discounted paper”

    Could u please explain this term for me?

    Regards Bear
    [email protected]

    quote:

    The only way to make good money in 2nd mortgages is to buy & sell discounted paper. You can make quite a healthy living out of it. Buy discounted paper eliminates a lot of the risk associated with 2nd mortgages. Not really a strategy I would recommend for the beginner.

    Profile photo of BEAR1964BEAR1964
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    @bear1964
    Join Date: 2003
    Post Count: 702
    October 4, 2003 - 5:43 am

    Thanks QLD’s007

    Good advise u give, but I am in South Australia and wraps here are illegal. I’m thinking about investing interstate but to get a feel for it 1st mite be best staying local, don’t u think?

    I’m just trying to come up with a way to get deposits instead of 100% of the value on the investment property being charged interest with equity on the family home for a deposit, that way its difficult to find a suitable +VE property.

    I’m all ears for other suggestions. I am also considering selling up the family home, but having 4 kids and a stepson, and taking schooling into consideration etc it’s a hard decision to make.

    Regards Bear

    Profile photo of BEAR1964BEAR1964
    Participant
    @bear1964
    Join Date: 2003
    Post Count: 702
    October 3, 2003 - 11:40 am

    yes i noticed the same thing bribie , but i didnt have the cash just yet anyway. Im still not clear if we have to pay upfront or not.

    Regards Bear

    Profile photo of BEAR1964BEAR1964
    Participant
    @bear1964
    Join Date: 2003
    Post Count: 702
    October 2, 2003 - 10:48 am

    Hi Wilendal

    I am having trouble finding the thread on the search could u possibly be more specific of the name or the person that started it?

    If not thats ok, I’ll just keep looking even if i have to search each page individually.LOL

    Regards Bear

    Profile photo of BEAR1964BEAR1964
    Participant
    @bear1964
    Join Date: 2003
    Post Count: 702
    October 2, 2003 - 7:17 am

    Thanks for the tip Wilandel

    [;)]

    Regards Bear

    Profile photo of BEAR1964BEAR1964
    Participant
    @bear1964
    Join Date: 2003
    Post Count: 702
    October 2, 2003 - 6:14 am

    Hi Falcon

    I believe that if you set your rates then if u pay it off faster or need to refinance due to buying more properties, or equity, whatever the reason may be you may find fees and penalties applying.

    I hope this helps, maybe one of the mortgage brokers on the forum can help you a bit more.

    Regards Bear

    Profile photo of BEAR1964BEAR1964
    Participant
    @bear1964
    Join Date: 2003
    Post Count: 702
    October 2, 2003 - 4:20 am

    Hi My65roses

    Thank you for your input.

    I have considered this option however wrapping is illegal in South Australia at this point of time.

    Regards

    Bear

    Profile photo of BEAR1964BEAR1964
    Participant
    @bear1964
    Join Date: 2003
    Post Count: 702
    October 2, 2003 - 2:41 am

    Hi Casey

    Can I suggest if you still wana do the student share accommodation that you contact the TAFE at the Parafield airport (near Salisbury) for possible tenants. My information is that they are continuously looking for accommodation for students of the flying school. My understanding is most are from overseas and come from wealthy families and parents pay the costs at a great rate. I knew of some people doing this a couple of years ago and only have positive things to say about them.

    This information may be outdated but worth looking into.

    I also know they are willing to pay extremely high rent if laundry and meals are catered for also even tho they are hardly there for the meals.

    I hope this is of some help.

    Kind Regards
    Bear

    Profile photo of BEAR1964BEAR1964
    Participant
    @bear1964
    Join Date: 2003
    Post Count: 702
    October 1, 2003 - 12:21 pm

    HEAR HEAR Steve

    Feel the Fear and do it anyway!

    Regards Bear

    Profile photo of BEAR1964BEAR1964
    Participant
    @bear1964
    Join Date: 2003
    Post Count: 702
    October 1, 2003 - 10:33 am

    Hi Wannabe

    U lost me mate I cant recall posting a message to that effect? What page is it on?

    Regards Bear

    Profile photo of BEAR1964BEAR1964
    Participant
    @bear1964
    Join Date: 2003
    Post Count: 702
    October 1, 2003 - 10:17 am

    Hi Erika

    I hear ya!

    I am a sole parent of 4 kids and one stepson. A carer for a very dear friend, and finding it hard to juggle, but I know it will be easy once I get into the swing of things.

    I was once self employed, studying at uni, sole parent of 4 kids and a part time job. And believe it or not it was easy once the ball is rolling, the hard part is starting the ball rolling and getting a momentum going.

    Keep it up Erika the rewards will come your way [;)]

    Regards Bear

    Profile photo of BEAR1964BEAR1964
    Participant
    @bear1964
    Join Date: 2003
    Post Count: 702
    October 1, 2003 - 9:57 am

    Hi nofear

    I am not an accountant, but to the best of my knowledge it is just the interest on both the deposit and the loan you can claim tax on.

    Please check with an accountant tho!

    Regards Bear

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