Good post, but it is a blanket statement which is neither right or wrong, in all respects.
I will leave you with this, it`s not what you do or say but your motivation for doing it.[]
Rich or poor has no relevance imo.

Pisces I don`t know when religion came into it.
I have never/would ever call anyone a “loser”.
I never used the word sin and never said it was a sin to buy houses cheaply, what I said was it is pathetic to SEEK OUT distressed sellers in order to find massively underpriced houses.[]

[When I point out that a statement that ‘ALL wrappers are no…[Read more]

Pisces, it`s already proven not to work imo, 7 of 20 have dropped out, no excuses it didn`t work for them, and they were handpicked, this is the very reason to say it can work for all and charge big dollars to teach it is wrong imo!.
I`m negative but when it doesn`t work all manner of excuses are given, same old, same old.
I know it CAN be done…[Read more]

I think Bundy is a very underrated town, in fact I think it`s one of the best out there and if I was more of a risktaker I would have bought the whole town………….like you did![].
I heard about an investor who bought ten or more homes in Kingston Brisbane just before I bought one there a while back, and at the time I thought about going for…[Read more]

I realise there was not a lot of positive in my post, there is a balance in everything and this forum can at times be too gung ho with regard to buying property imo, time will tell.

Steve, I must admit I felt you were aiming to make these people millionaires they certainly are not that and will not be with in 12 months.
If so many have dropped out already I would not get too excited by the prospects.
Reality may also hit some hard as time goes by.
Good to see you are giving back in some way.
Wondering also since you…[Read more]

I retired six months ago, spent up big went surfing fishing whatever but I`m back workin` since last week!.[^]
No one needs to retire till death just take big long breaks and find a job you like.[]

Are you guys serious?, Jordanian this guy wanted the whole $5000 in his pocket no doubt!.
Steve I would guess this guy is a stubbie short of a six pack, of course IF and only if the agent was a personal friend and went out of his way to find you a good buy and did the hard yards to get you the house, you may give him a bonus but otherwise this is…[Read more]

Redwing I would say Bundaberg and down to Tweed, but I think growth and development will extend a lot further up.

Yack I think if you catch the market and hold is good, but in a down market or stagnant it might be better to reno and sell.
I don`t think there is a easy answer but some sell some hold maybe better, why hold when a market has obviously flattened out?.
In retrospect a lot of people would have wished they held!, not only renovators.
But yes hold is…[Read more]

That`s what I was getting at Mini you can in fact buy more properties with cash than equity, a lot more![^].
In the right market if for instance someone had a CF- property they could sell it and buy a few cF+ ones on many occasions, whereas the equity alone will not allow them to get as many CF+ houses, this can also give you cash in the…[Read more]

This is all a double edged sword, if the house does not increase in price, which is likely to be the case as the vendor is desperate to sell if he offers finance, where will you get the money to pay this loan, also he can foreclose on you as I understand it the minute you cannot stick to the contract.
Generally the vendor will not do this for…[Read more]

How about this!.
Find the house.
1. Don`t get excited in front of the agent.
2. Sign the contract with offer but make sure to have building pest and finance clauses, leave say $100 or $200 deposit at this point.
3. Phone the local council for flooding details and zoning details or potential problems etc.
That`s it, if you have the clauses you…[Read more]

I think never sell is a pretty good method but it may not suit all people, and sometimes by selling you can utilise that cash better than you can equity.
Never sell is easy to say before or during booms, but traditionally there can be a very long gap, it`s a long time to hold property and have tenant headaches etc.
My method really is to buy,…[Read more]

When I arrived in Rocky a while back I had the same urge….to buy up, if I could have afforded to do it I would have and would be looking real good right now.
Also when I bought in Kingston Qld one investor had just bought more than 13 homes there, they have made well over $1.3 million in equity in under 12 months!. Problem is if you have hassles…[Read more]

Melbear I love this line of thinking that “if you don`t succeed you didn`t follow the guidelines correctly or you are useless or you just don`t get it….lol[][]
Success comes to people at different points in thier life and in different ways, this poor immigrant may now go out and make a million but spending big dollars on kits is rarely going to…[Read more]

Depends on the market in a big way what you can make from renovations, it can be overated in the extreme.
You can renovate partially while the tenants are there, I`ve done it and over the years I`ve painted many houses for landlords, interior and exterior with the tenant living there.
You might have to leave bathroom, kitchen etc but exterior you…[Read more]

That`s exactly what I`m getting at fjficm, although if people will pay it…….it`s just that I won`t!.[]

Gman, now I AM trippin`[], I already explained what HK did, what huge assumptions are you referring to?, and why on earth would I turn around and pay thousands for a seminar?, after I just explained why I wouldn`t/never have?.[?]

Maybe Henry should have taken his own advise.
I would hope that somewhere in his seminar would be some helpful advise to help the average struggling Joe.

There are ways to minimise risk, and we all use them but to a different degree, it`s just words like “due diligence” annoy the heck out of me, it all sounds so wrapped up in a ribbon simple, yet…[Read more]

I`m fine with paying $90 or so for a seminar or forking out for the odd book but no offense to anyone but my belief is these high priced kits seminars are a rip off and a complete joke.
Someone said the expensive day long seminars are good for meeting other like minded investors, well I hope they are good for more than that, also I`m not too sure…[Read more]