The overall impression that I received at the preview evening from Peter Flanagan was that he was going to present specific strategies for the acquisition of cashflow positive properties and at least one strategy on how to deal with the market when it inevitably slows, and/or reverses.

I, also, found the preview evening to be well presented,…[Read more]

Steve,

I’ll answer your questions more fully tomorrow, just have time for a quick browse at the moment. Actually, I’d rather not be too specific on some items publically, so if you would like the unvarnished truth do you have a less public email address?

Dianne

“Make a decision, take the risk, pay the price, or reap the rewards”

Hi Ms Elvis,

I have done one joint venture for an IP and it was pretty easy. Both partners signed a JV contract which had all the details about how it would be run, how the finances would be shared, and what would happen if things went south. It is a legal document and enforceable.

The good thing is that you can set it up to say exactly what…[Read more]

Check the clauses on your finance contract – you may well find that you are unable to repay any principle off during the IO period and any extra that you do pay is credited to the interest payments ie if your monthly IO payments are (say) $100 p/m and you pay a lump sum of $1,000 that just puts you ahead by 10 payments.

As I said, check the fine…[Read more]

Thanks to everyone who replied.

Dianne

“Make a decision, take the risk, pay the price, or reap the rewards”

I actually went on the bus trip with these people late last year as I was interested in finding out his strategy.

Basically it’s a wrap variation where Vic’s company buys up cheap and rundown properties in regional areas, does them up (very cheaply and not too flash), wraps them to investors at around 30 to 50% markup with a 5 year leaseback and…[Read more]

Sure, the property number is 1713859

Dianne

“Make a decision, take the risk, pay the price, or reap the rewards”

Me again, just remembered something that may be a good example of what’s in Dubbo at present. In surfing realestate.com for Dubbo I found a block of units up for auction on 19th (tomorrow!) with 4 x 1 bedroom units and 4 x 2 bedroom units. Rent income from these is $95 and $105 respectively. Buyer’s guide price is $380K to $430K so on paper it…[Read more]

Dubbo is an interesting region at present. There are lots of positive cashflow properties there and prices are starting to rise pretty quickly.

Just be careful which area of Dubbo you look at – West Dubbo has LOTS of +ve properties but some areas are absolute rat holes. For example I looked at one for $50K and rent of $120which was in good…[Read more]

So, old Wright Thurston (and I believe it’s Wright Thurston the third) is still doing the rounds.

I attended the same (free) one day “retreat” in Sydney a few years ago. If it’s the same there will be several speakers, all of whom are pushing a barrow to sell product of some sort.

Still, if you have the time it’s worth going along as you nearly…[Read more]

I loved this bit describing one of their properties.

“A mixture of 2 & 3 bedroom units in a nice complex. Situated in the lovely Hills area. En-suites available with single and double garages.”

I always wanted to be able to drive my car into my en-suite!?

Dianne

“Make a decision, take the risk, pay the price, or reap the rewards”

Hi Maximus, I’m experimenting in the Dubbo area at present. I bought a 3br fibro house for $78,250 which will rent for $145 p/w. I bought it as a first attempt at a wrap, but with the knowledge that if I stuffed everything up I could still rent it positively geared (not quite the 11 sec solution, but close enough for me) Yeah, I know I…[Read more]

Personally I have a separate bank account set up specifically to handle all the incoming and outgoing dollars for our properties and it has “investment account” in the title which appears on the cheques and the statements. This way it keeps all the funds relating to the properties in one place and provides a CLEAN record and paper trail for the…[Read more]

My husband and I had a fabulous time at the weekend – we did the seminar last year in Sydney and wanted to review. I can recommend reviewing it as you get so much more info and understanding the second time around.

A huge thanks to all the guys involved in putting the weekend on, your commitment to helping all of us is awesome.

Just to reply to…[Read more]

Thanks Steve. Because we had played the game in Sydney we were aware of the reason for the chaos, and also aware that it would do our companions on our table no good to just take charge in order to win. So they would benefit from the game, we encouraged them to make the decisions (with some leading questions) about what needed to be done, but…[Read more]

I use Property Manager Pro software whick records all the info on property purchases, including purchase/sale costs, income, expenses, graphs, capital growth projections, etc. I bought it through the API mag and cost me about $200. My accountant accapts the printouts for tax returns. Suggest you have a look at this.

I don’t have the mag’s…[Read more]

Re the Land Tax issue – I attended the Sydney Vendor Finance (Wraps) Association meeting last night and the question came up. Rick Otton has been speaking with “the proper authorities” and says that if you object within the timeframe allowed and advise that the property is not being used by you but by the purchaser who has all the usual rights to…[Read more]

Thanks guys, really appreciate the help. Dianne []