There are plenty of ways to borrow 100% without paying LMI. Buying under market is just one.

I actually thought the MAPs program was to
create net millionaires. Anyway still a good program.

I think the challenge should go a little more like this – Turn everyone into 100K per year passive investors in 12 months. The people selected would then use none of their own money. Boy would that be a challenge. Maybe make it a smaller group of people. aha I have a new idea for my new book any volunteers??

I have actually met many guru’s in my time and must say Steve is one of the least arrogant & credible individuals I have come accross on the seminar circuit. As for Henry Kaye I can’t comment, but I have heard some bad stories.

Sorry richmond working full time is staying in my comfort zone. Burn your bridges then you can’t retreat. When I started investing I didn’t have a job & could not get finance from lenders. Somehow I have still managed to buy 4 properties in the last 2 months and will have 15-20 by the end of the year. Can it be done. yes it can:)

I don’t really think long settlements will be successful in my current market. I personally do wraps with JV’s. That means the only way I can negotiate is the price or get stamp duty get thrown in. If I pay full price there is not enough meat in it for my JV partner.

I still don’t think you guys understand what Polaris is trying to say. I have no doubt that on selling on a LO is profitable.

I think think this is what polaris is trying to say.

Example.

You find house worth 220K.

You then not buy the house but LO it paying the owner a premium 2-5K and pay him payments each week. Now how is the vendor winning. If he doesn’t own the house he has negative cash-flow and doesn’t win as you have a 5 year option which cuts him out of the appreciation. If does own it he may only recieve 5-6% PA which is not a hole lot better then a bank account.

You can then LO the house with a higher strike and recieve higher weekly payments but where does the original owner win. lose/win

When is this show??

Sorry Steve my mistake.

Mathew you say you couldn’t be bothered wasting time writing out 40 offers. I ask you how long do you thing this will take. How long is it going to take you to inspect 5 houses. You still have no gurantee they are going to accept your offer if you inspect. I think faxing offers is a good way to seek out motivated sellers. It is very hard to tell on the surface if the seller is motivated or not. It could be listed above market value but still be open to offers a lot lower. I think you are restricting your market by only looking at houses which fit your price criteria. Who knows the one down the road listed 10K more may be more flexible then the one you are looking at for 10K less.

When you say you make low offers, what do you define as low?? 70%, 80%, 90% of FMV.
To me if you are using JV partners the only way to really get decent returns for your partners is to get a decent price. If you buy near market your mark up becomes to an extreme where it makes it hard for the wrappee to re-finance. If someone can tell me otherwise please feel free.

If you pay close to retail you also expose yourself to heavier risk then would be otherwise if you buy at discounts. I think a minimum of 10% needs to be achieved before you even consider a deal, especially in the current climate.

The way I see it whats the point of looking at a houses if you can’t get the price you want. The agents also get annoyed when you look at 10 houses and you don’t buy any because your offers are to low. I think faxing offers is probably the best way. It may pay to tell the agent you acknowledge the offer is low but you do expect counter offers.

I never buy houses with pools. I suppose you do have to way up how cheap you are getting the house for.