Hi Steve and Redwing,

I’ve been away a bit but thanks for your help.

Have a great 2004 as well.

Cheers,

David

OPM – use Other People’s Money and learn from Other People’s Mistakes
[email protected]

Hi mcollins,

You asked about Manjimup (WA, I presume). It has always been a quiet town but with the decline of the timber industry down there it has really died. [] Not a place I would invest in.

Cheers,

David [8D]

OPM – use Other People’s Money and learn from Other People’s Mistakes
[email protected]

Hi Rugbyfan,

I’d love a copy as well if you don’t mind. Email me at [email protected]

Many thanks,

David [^]

OPM – use Other People’s Money and learn from Other People’s Mistakes
[email protected]

Hi Sharon,

You’re heading in the right direction by asking questions and looking for good resource books. There is a great thread at https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=5667 where various folks have listed and rated books that they have read/studied. Like the rest of us, it’s a process so be patient with yourself, put the…[Read more]

Good questions so here goes,

1. Being ripped off in a business venture in a big way in the UK in 2000 and losing everything plus looming retirement in 10 to 15 years.

2. Studying lots of books and taking more control of our finances. Basically educating myself financially in a way I never had before. This has taken the past two and a half…[Read more]

Hi Mel,

I’ve talked to a finance broker about this and he came back and said that the lenders would not consider the vendor finance as a deposit from me but I still had to come up with 10% (or whatever). Is this true of all lenders?

Cheers,

David

OPM – use Other People’s Money and learn from Other People’s Mistakes
[email protected]

Hi guys,

I love Santa – I have to – he’s me!

The worst Christmas present my wife ever got me was a santa suit, because it fits so well!

Well, at least the kids aren’t scared of me (more like the other way around).

Cheers,

David [][][8D][]

OPM – use Other People’s Money and learn from Other People’s Mistakes
[email protected]

Hi Dino,

Well, you just met your first 60+ hours per week student. When I was at uni (1985-87) I had a wife and 3 kids and I used to put in 60 hours or more regularly. Mainly because I loved it. It was a tough course – physics – but it didn’t hurt too much.

I try not to judge anyone else too harshly as you never know where they have come from. I…[Read more]

Hi everyone,

I liked Rich Dad’s approach so much that I am doing it myself.

1. Start a (part-time) business. Make it part-time if you still want to work and have a reasonable income to go on with.

2. As a registered ABN, we get to claim lots of legitimate expenses as tax deductions that we otherwise couldn’t, thus reducing our tax burden.

3.…[Read more]

kill business debts / prepare for retirement

OPM – use Other People’s Money and learn from Other People’s Mistakes
[email protected]

hi all,

Still waiting to get into our first ip but will hang tight for a while after talking to billfromoz and reading the forum. We have some finance pre-approved but want to get a little more capital together and wait for the market heat to “dissipate” a bit. Still determined to do it though when the time is right.

Cheers,

David

OPM – use…[Read more]

I want to brag and say that I got 124 [8D] but I was tired and playing cards on the computer at the same time. So not bad – but it was mainly to show off to the kids. Hahaha! []

OPM – use Other People’s Money and learn from Other People’s Mistakes
[email protected]

Hi Judith,

Are you able to recommend your agent in Armadale. I am in Perth and Armadale is one of the areas I had highlighted to check out. If prices have started dopping there I would like to keep in touch with it.

Cheers,

David []

OPM – use Other People’s Money and learn from Other People’s Mistakes
[email protected]

Thanks Richard,

I’ll pass it along.

Cheers,

David []

OPM – use Other People’s Money and learn from Other People’s Mistakes
[email protected]

Hi everyone,

I responded to Bill’s offer and got an email response in very short time. I have since chatted to him by phone and found him both knowledgeable and helpful. He reinforced my own thinking (that is to sit and wait for a while) and I respect his many years of experience in the industry. Let’s all take a leaf out of Bill’s book and help…[Read more]

Hi Renee,

Do you know of a similar website for WA or any other states?

Cheers,

David

OPM – use Other People’s Money and learn from Other People’s Mistakes
[email protected]

Richo,

I think a book is the best idea as well. I’ve also come across software that purports to step you through the process and then produce a wonderful business plan at the end but I haven’t actually used any of these. Usually in the $200 to $300 range. I’ve written a couple of business plans now and I know that they require a lot of work and…[Read more]

Hi Richo,

Yep, there is plenty of information on the net. Just do a Google search. I am currently using an excellent book called “Writing your plan for small business success” by Ian Birt, publishers are Pearson Education Australia, Unit 4, Level 2, 14 Aquatic Drive, Frenchs Forest NSW 2086; ISBN 1 7400 9301 1. It takes you through the process…[Read more]

Hi Kelvin,

I’ve had some dealings with a couple recently and have the information at home. Email me on [email protected] and I’ll send you the details.

Cheers,

David []

Hi Simon,

I had a look at the website and it looks very interesting. I would guess that they are not positive cashflow properties but the risk is a lot less by the sound of things. What are the positives and negatives from your experience.

You can email me on [email protected] if you prefer.

Cheers,

David []