Hi Brett
Well, I don’t think I’m in the big league yet, but I’ve done 4 wraps now and have financed the deposits using equity growth in our home and a negatively geared property in inner Melbourne bought a few years back.
I still have more equity to use, but I’m currently looking at bringing on private investors to fund 10% of the deposit.
I’m…[Read more]

Hi again
Had a conversation with a property manager in the area of my wrap houses, as I wanted to find out whether renting the one that’s not moving might be an option.
She told me to do it NOW (like in the next few days) otherwise I can probably forget it until mid January. That’s because anyone giving notice on their lease now will have to move…[Read more]

Try the site at http://www.gatherumgoss.com , this is the site for Dale Gatherum-Goss & Associates, and he has released the “Tax Battles Manual”, an easy read with lots of creative ideas for deductions. You’ll find it under “shopping”. Or go straight to http://www.gatherumgoss.com/shopping.htm

Keep smiling
Felicity

Hi Sooshie
I have to say that responses to my ads are WAY down in the last two weeks, only had 3 calls last week and none this week (so far). Normally I get between 5 and 10.
I’ve also noticed that houses aren’t selling. For the last couple of months I’ve barely had anything on my list, there either hasn’t been properties or they’ve been snapped…[Read more]

Hi Sooshie
I guess it all comes down to holding costs – if you can afford to keep paying the mortgage while you wait for a buyer, you can hang on indefinitely I guess.
But there has to come a point where you ask the question WHY isn’t this house selling?
Is it the house that’s the problem? ie are people coming to look at the house, like the wrap…[Read more]

There are positive cashflow properties to be found in a number of regional towns in Victoria. Seek, and ye shall find…

Keep smiling
Felicity

He’d have to grow a beard… []
Well done Steve!

Keep smiling
Felicity

I’ve read this article, and although it has some interesting material, I also have to say that I wouldn’t like to try and live up to the perfection this guy requires.

Keep smiling
Felicity

Hey AD, they all SOUND good – that’s what they pay their advertising and marketing people for! Otherwise nobody would do their seminars. I saw the ads, and a lot of it seemed like stuff you can easily get from reading a few books.

Keep smiling
Felicity

Hi Darren
I have to say I agree with you, I’m finding very few people with more than a thousand or two of their own at the moment. Sometimes they do manage to borrow money from family and friends, but my first wrap buyers went in with no deposit of their own (although we wrote it into the contract that their tax refund of around $1000 is to be…[Read more]

Had a look at this site, and I have to say they’re extremely short on detail. I would like to have some idea of what I’m going to be paying for the software if I try it and like it….

Keep smiling
Felicity

Hi AD
Woohoo!!! Congratulations and well done for sticking with it. There must be something in the water at the moment, I completed my first wrap a week ago, Fri 11th October, and settled my 2nd house on the 18th ready to wrap.
It’s an amazing experience when you find the right buyer, I felt like I’d been done over by a steamroller, their…[Read more]

I have to agree that your goals change at different times, and so your strategy may well change too.
We started out in capital gain mode, and the property we bought 3 years ago close to Melbourne has grown a lot, giving us equity to use for other things. I’ve now taken that equity to use for deposits on wrap properties, because right now our…[Read more]

Because that’s the most likely time to find you at home….
Annyoing, isn’t it…

Keep smiling
Felicity

In Victoria, the law basically says that you can’t put an offer in without sighting the S32, and the agent is not allowed to accept it anyway. You also have to sign a declaration as part of a written offer to say that you’ve sighted it. whether or not this is strictly followed is another question, but personally I never put even a verbal offer…[Read more]

My favourite is the phone call that goes something like this….
Are you interested in owning investment property?
Yes
Are you interested in someone showing you how you can own IP for as little as $10 per week?
No
(usually a pause)
Are you interested in paying less tax (the clincher!! []
No
(longer pause)
No??
No
But surely if you could find a…[Read more]

Hi Sooshie
Hang in there, it sounds like you’ve learnt heaps and are ready to move on in a big way.
Sorry to hear about your son, fingers crossed that it’s only Asperger’s. My nephew has that, and with some medication and careful handling, most of the time he’s been able to cope with day to day life. But it can still be tough. Now he’s quite a…[Read more]

Hi Nessie
Have a look at http://www.vcpa.com.au/list_of_members.html
It’s really fabulous! It lists most of the regional newspapers in Victoria, and quite a few in Qld, NSW, Tas and SA too.

Keep smiling
Felicity

Hi Aaron
A very good question!
One without a clear answer, it depends very much on your circumstances and your goals.
Steve McKnight usually recommends working with lower value properties, which in most places means regionals. Because the repayments end up being as cheap or cheaper than rentals, you get good demand from that perspective.
Rick…[Read more]

Hi Hils
No, this board is not related to the property investors forum on ninemsn. Steve McKnight set up this site for people with an interest in positive cashflow property, particularly his many graduates. The ninemsn site was set up many years ago by myself as an opportunity for people interested in investment property to swap ideas. There is…[Read more]