Forum Replies Created
I thoroughly recommend Dale Gatherum-Goss and his team, their website is http://www.gatherumgoss.com
Keep smiling
Felicity
Hi Black Hole
You can try http://www.communities.ninemsn.com.au/PropertyInvestment
which has a message board and a chat room (not sure if this is about to be shut down under ninemsn policy).
Also, http://www.somersoft.com.au has a very active chat room.Keep smiling
FelicityMy apologies for the following quote, I’m sure it’s not word perfect…
Feed a man a fish, and you feed him for a day
Teach a man to fish, and you feed him for a lifetimeIf you have read heaps of books, done courses and sucked up information from these forums, then you have probably got a lot more teaching at your disposal than most people, myself included, have had when we’ve gone out there and started. Fear is only False Evidence Appearing Real, and the only way to conquer it is to take action.
Keep smiling
FelicityOne of my favourite sayings (and I don’t know where it comes from!)….
I don’t care whether it works or not, I’m going to make it work for me.
Be grateful that you are a tall poppy Steve, it means you’ve managed to rise above the naysayers and give yourself some choices in life. Good for you! I’m sure the view is great up there.
And I’m not even going to start on people who tell successful people how “lucky” they were [!]Keep smiling
FelicityThe sharemarket is as simple or as complicated as you choose to make it – up to a point!
Personally I think that if you want a relatively simple system with a medium to long term time frame, then “Active Investing” by Alan Hull is fabulous. And he’s Australian!Keep smiling
FelicityHi 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 what are your goals? If you want a regular cashflow income coming in every month, then positively geared property or wraps are your best option.
If however you just want equity, well, maybe then capital gain is what you’re after. The only problem is there are years when property values stagnate or go backwards…
I think Steve has always made the point very clearly that positive income can be relied upon, capital growth can’t, because it doesn’t always happen.
Yes, maybe historically if you hang on long enough, periods of stagnation are followed by periods of growth. But nobody has a crystal ball to tell you when those periods of growth will happen, and if you’re relying on it to happen so that you can draw down that equity to live on, and no growth happens, you’re in trouble.
I always figure that the starting point in any investing strategy is to work out what you’re trying to achieve, then find a strategy that achieves it.
I think I’m waffling now!!! Hope this all makes sense. []Keep smiling
FelicityWorked 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
FelicityHi 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 it’s not necessary to have your lawyer just around the corner, with phones fax and emails they can just about be anywhere.Keep smiling
FelicityThis 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
FelicityGo 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
FelicityHi 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
FelicityHi 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
Felicityrick’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 are basically the two “gurus” in the wrapping area, and it’s always worth hearing either of them speak.Keep smiling
FelicityI’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, the mortgage insurer may still pull the pin and say they’re not going to insure any more loans.
There are now only 2 mortgage insurers in Australia, and I know from personal experience that this happens – it’s just happened to me. Apparently we are over exposed now.
So does anyone have any information on lenders (particularly non conforming lenders) that will lend at 80% and don’t get mortgage insurance?Keep smiling
FelicityThey’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: Plenty of parking opposite the campus on Ballarat Road & it’s FREE
Agenda: well no agenda as yet, but we always have lots to talk about, especially in these even lower interest/low inflation times.
Cost: Free of course
Tea/Coffee facilities will be availableNote: vending machines with drinks, snacks, icecreams & cappuccinos are 50m away, so you may want to bring along some coins if you intend to use them…
As always, you don’t have to RSVP, just show up… I hope to see you there…
Cheers,
MannyB.
Keep smiling
FelicityHi 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 listen.Keep smiling
FelicityOkay, room details! It starts at 630pm.
Room: EN302
Engineering (EN) Building
Room has TV/Video I am told….Keep smiling
FelicityHi 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
FelicityCheck the thread titled “Melbourne Meeting” which is currently on page 5, it has all the details. [
]Keep smiling
Felicity
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