Glad it worked for you Scott!!

Did you do two seperate wraps (just to wring that last bit of profit out??).

Rgds.
Lucifer_au

I agree with Terry! You deffinatly don’t want to go over the clients strike price, the risks are simply to great, for you and esp. for them.

Rgds.
Lucifer_au

Congrats Supa Freak (ad no one will ‘can’ you for succes!). I know a few people who are wrapping homes for between $300K-$400K and it’s no surprise to me that some people are wrapping for upwards of $700K (though I would hate to have a $1Mil place sitting vacant!).

I still like blue collar homes, where the $7K still means something!

Anyone…[Read more]

‘3’ offer $500 worth of calls for $99, which is damn good if you live in Syd, Melbourne or Bris/GoldCoast. Also you get a damn cool phone!

Rgds.
Lucifer_au

Since your just re-topping it, you would probably claim it as arepair.

Rgds.
Lucifer_au

You don’t have to lock your capital away. Simply get $10,000 (from Credit Card or even RediCredit), show the dep. that deals with this issue your bank statement and you should be fine. Or borrow it of a friend and pay a higher interest rate.

Please note: I have never wraped any property in WA, it is only what I know of the process and what others…[Read more]

The 6 steps is good, but I would suggest you first get Steve McKnights book – 130 properties in 3.5 Yrs.

Rgds.
Lucifer_au

It’s not that hard to understand (well I don’t think it is).

Think of it as buying a car with finance, but instead of a car you have a house. You are the car company so you charge a higher % than you are borrowing, and you mark up the car so it’s more expensive than what it cost to make the car (or buy it 2nd hand).

And thats basically it. It…[Read more]

See above – and I’m not a mortgage broker.

Rgds.
Lucifer_au

I read Australians spend 105% of their income….

“We are both 28, earning a combined income of $100000. We have a credit card debt of $5000 each and pay dead rent of $180 a week. I have $20 000 owing in HECS. We would like to invest amd have heard of people buying property off the plan and then reselling when completed and making a reasonavle…[Read more]

Heres an online Mortgage Calc:
http://moneymanager.smh.com.au/tools/calculators/loanrepayment.html

Hope this helps.

Rgds.
Lucifer_au

L/Os are basically the same everywhere, you just have to have it drawn up so it’s more like a contract rather than a lease.

And it is not illegal to do L/Os in SA. It is however illegal to do wraps in SA (though the Gov. does them…). It is not illegal to wrap in any other state.

Rgds.
Lucifer_au

I was having a look at Cashflow101 the Egame yesterday. Basically you do the same stratergy that you are mentioning (i.e. buy a small deal, sell assets, then buy a big deal).

That and your newsletter has certainly made me look beyond the dogma of never sell. Espically if you have a an asset that can bring a bigger return!

wilpro while super…[Read more]

” I have not find out more about the mining. From what I know, it was not the sole employment. The area is also a cattle raising area which a fair few number of people too.”

Thats like the area I was looking at, the RE agent said they had sheep and mining. What he didn’t say was that the mining company owned the sheep and used them to maintain…[Read more]

“One of his recommendationsto get the highest price possible appears on Page 24 of ‘The Craft of Negotiation’ booklet produced by Neil Jenman for agents taking his courses. “The golden rule for getting the highest price is Exclude all Inclusions”. It goes on: ‘The Principle of Aces’ clearly states you must not reveal everything you are prepared to…[Read more]

A Chattel Mortgage is a loan facility. You own the asset, but the financier takes a consideration over the asset until the contract is paid in full. With a Chattel Mortgage, you can optimise your cash flow while minimising the impact of GST, which is not payable on individual repayments, as is the case with leasing.

If your business is…[Read more]

This is when companies have to report their yearly earnings to the ATO (a business year goes from June 03′ to June 04′), so if you change your business structure before that date it will affect this tax return. Anything after that date and it will affect next years tax return (June 04′ to June 05′).

Rgds.
Lucifer_au

That’s easy to say – don’t go bankrupt. But lets say I am sued and lose and a massive amount is awarded against me, what happens if I don’t have a choice but to go bankrupt. Then the assets in the trust could (if it becomes law) be open to potential creditors… Which means NO asset protection.

Also I never, ever said that “The ato arent “go…[Read more]

I just wanted to say (along with everyone else it seems!) fantastic Calculator!

Rgds.
Lucifer_au

Wonder if were missing out on this bit because of the property slump… food for thought anyway (good times always means increased sales, so they could try to keep bad news at a minimum).

Rgds.
Lucifer_au