Hi Judith
Reality is that this method of property investing was a lot easier a few years back before the boom hit.
Reality also is that it can still be done, but you’re right, it’s a lot more hard work.
Perhaps until prices settle down and rents rise a little, you need to look at other options, such as wrapping.
In the end it all comes back to…[Read more]

Worked brilliantly for me too!
At the moment Rick is doing intro nights around the country, I think he still has Adelaide and Melbourne to go.
At the very least, get along to one of those if it’s nearby, I know I always learn something when I hear Rick speak.

Keep smiling
Felicity

Hi peter 2480
If you go to a lawyer who’s familiar with wrap contracts, they won’t charge you thousands to start from scratch. They’ll charge the regular fee for the transaction.
Personally I always prefer to use a lawyer, because I know that the contracts are always up to date and correct if there are any changes to the law.
Most of the time…[Read more]

This is an important question.
I always tell my buyers that at any time I am happy to produce the loan statements I receive for the underlying mortgage, to show that repayments are being made.
I don’t know how you’d go about enshrining that in law though!

Keep smiling
Felicity

Go to http://www.creativerealestate.com.au and check out Seminars & Events, he’s running these evening sessions over the next few weeks.
But if you’re in Brisbane, you’ve missed out – it was tonight!

Keep smiling
Felicity

Hi Pebbles
I’d recommend you do a search of this forum, Rick is an occasional contributor and numerous people have asked this question before.
Personally, I’d recommend you spend the $49 and go, it’s worth every cent!

Keep smiling
Felicity

Hi Terry
Thanks for this information, very helpful!!
At least it shows me that there are products out there, finding out whether a loan is mortgage insured has been proving tricky!!

Keep smiling
Felicity

rick’s website is http://www.creativerealestate.com.au
He’s going to be in Brisbane, Sydney, Adelaide, Perth and Melbourne over the next couple of weeks doing evening seminars.
I reckon for the paltry sum of $49 (less for a group) it’s worth going along just to educate yourself if you have any interest at all in wrapping.
Rick Otton and Steve McKnight…[Read more]

I’ve heard plenty of people say that if you only borrow 80% then theoretically you can keep on borrowing forever.
Well, reality seems a little different. Even though you only PAY for mortgage insurance when you go over 80%, in fact mortgage insurance is obtained for most loans regardless of the LVR.
This means that at some point, even at 80% LVR,…[Read more]

They’re organised early for next month!! []

Folks,

the September (booked it in nice & early) Melbourne MSN/Somersoft IP Group meeting will be held at Victoria University, Footscray Park campus, details being:

Date: Tuesday 23rd of September 2003
Time: 6.30pm
Building C, room C410
Address: Ballarat Road, Footscray (cnr Hoadley Crt)
Parking:…[Read more]

Hi Dan
I have made offers along those lines a few times, but without success. Having said that, though, mostly I was dealing with vendors who were owner occupiers with big mortgages. I did have one vendor where the husband was keen but the wife knocked it on the head.
I’m sure it can be done, it’s a question of finding a vendor who is willing to…[Read more]

Okay, room details! It starts at 630pm.

Room: EN302
Engineering (EN) Building
Room has TV/Video I am told….

Keep smiling
Felicity

Hi catichau
You could also take a look at http://www.navra.com.au
They use a strategy called the cashbond which is specifically for people in your situation.
I personally haven’t been in that situation, but the weekend course (very cheap at a couple of hundred dollars) was really interesting and I learnt a lot of stuff.

Keep smiling
Felicity

Check the thread titled “Melbourne Meeting” which is currently on page 5, it has all the details. []

Keep smiling
Felicity

The meetings usually start at 630pm Swaney.

Keep smiling
Felicity

Hi wild
With finance, in my experience it’s all about finding a good broker.
As for Wrap Camp, I went to the last one, AWESOME!, and I’m going to the next one. For me I found it took the basics in the Wrap Pack and expanded it to a whole new level. I’ve heard Rick say that doing 1-5 wraps is totally different to doing 5-50, and I’ve certainly…[Read more]

Oops, sorry, forgot there are a lot of new people in here at the moment!
There’s a property investment board at ninemsn, and some of the people there organise a meeting once a month in Melbourne so property investors can get together and talk about property. They often have people in to speak, or else one member will talk about something they’re…[Read more]

Hi roofarmer
Rick has already been! As far as I know he worked out how to go about it.
Try contacting him through http://www.creativerealestate.com.au

Keep smiling
Felicity

Hi huntress_love
I think a little bit of “fine line” distrinction is required here.
You are unable to advertise for investment partners to invest in your own deals, as the moderators considers that this contravenes the law (you are required to have a prospectus if you advertise your investment opportunity to more than x people or something, I…[Read more]

Hi Jody
Glad you put my name in the topic line, it’s busy in here at the moment!
I will email you in the next day or two, I don’t like to put my broker’s details on a public forum.

Keep smiling
Felicity