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Hi Jewel,
I'm still in very early stages of my investing career, but your post has definitely gotten me keen to try all this out!
You've inspired me to the point of offering tradie mates to help them out on their next residential job !
I'm still keen to know more about the sale processand how it ties into 'putting together the numbers' on a reno plan, though….
After you had chosen state/city/suburb etc…did you put together a basic reno plan so you had specific criteria that the property needed to meet before you would consider it?
Or was it the other way around (see properties, quickly put the numbers together, put in an offer?) ?
Chicken or the egg!?
Cheers
Jon
many thanks:)
right.
Yes I do, but I was under the impression that I could create new trusts when i've reached the maximum possible lending capability of a particular trust.
Could you suggest any decent texts to read on this subject?
Thanks Terry.
Then, is it plausible to to have 2 trustees within a trust as guarantors? If so, wouldn't this address those 2 points you've highlighted?
Hi All,
I was just brushing up on Steve's book, specifically chapter 9 on trusts. It seems like it's possible to have a company as a trustee, then have multiple directors act as guarantor for a loan (belonging to the trust).
Apologies if this sounds stupid , but this does mean that the income of the guarantor will be used to asses borrowing capacity, right?
If this is the case, is it at all possible to declare the income of 2 separate trustees (e.g 2 separate directors under 2 separate company names) in a loan application, with the intent to increase borrowing capacity?
I am yet to apply for a loan and i am concerned that i will have limited borrowing capacity with just my own salary. I also want to ensure I have an effective setup from the start.
Thanks in advance,
Jon
Lol DWolfe! So would you say it was of any benefit?
tomato, clock, phone, mobil, wanted sign, goal posts, efficiency (is that right?), organiser, soldier, sports team?
i think that was it anyway!
P.S I purchased Ron’s product and will let you all know how it goesHey guys,
As someone who has only just discovered the world of real estate investing, I would say the experience was a mixed bag for me.
I absolutely felt that the 3 days were worth my time to learn some basics, understand what other strategies can be used and network with like-minded people across the continent. I did ; however, feel that there were a number of ‘infomercials’ that would not have been missed!It’s understandable that more advanced investors may have found this conference to be a complete waste of time. I too felt a little insulted at the obvious sales pitches from the likes of Aussie Bob and his overly-simplified trading system. He spent more time trying to build rapport with the audience than providing educational material. He completely shrugged off the complexity and risk involved with share trading!
I had read negative feedback on people’s experience with Mark Rolton’s “university” on these forums prior to the conference, so had already made up my mind before Mark Rolton appeared. Apparently there have been a lot of people who have signed up to his program and never received the product and failed to receive any form of ongoing support. Mark was too smooth for my liking.
I found Peter K’s session to be very educational and really enjoyed Li’s aswell. My favourite infomercial was Dean Parker’s – as all their product seemed to be was a project mgmt methodology which could be applied to renovating.
While I did find most of the basic stuff beneficial (in my case), I hope that in the future Steve reviews the ‘mandatory educational content’ that each speaker provides.
I often found myself wondering why Steve had endorsed such blatent hard-sells???Perhaps a survey of pre-booked attendees (for 2011) could be surveyed for their educational needs,? Perhaps the conference should be labelled as a ‘beginners conference’ ?
All in all, I definitely enjoyed the positive culture at the conference and will be attending next year’s event – even if it is only to hear what Steve has to say and network with other investors.
All the best.