Hey Adam,
I think you will find (correct me if i am wrong) but Steve did not buy and hold 130 properties. He would have purchased some, sold one that that made a great Capital Gain, and then financed some more properties. They also had the help of the income from their accounting business and their wives incomes.
Again I hope this helps.
Matt
“If you do what you have always done, you will get what you have always had.”
Hey Adam,
I think you will find (correct me if i am wrong) but Steve did not buy and hold 130 properties. He would have purchased some, sold one that that made a great Capital Gain, and then financed some more properties. They also had the help of the income from their accounting business and their wives incomes.
Again I hope this helps.
Matt
“If you do what you have always done, you will get what you have always had.”
Hey all,
Just on the topics of books and finance, i have a good book to recommend.
MODERATORS FEEL FREE TO DELETE THIS POST IF YOU FEEL NECESSARY, NO OFFENCE TAKEN!
Its called “Being the best you can be in MLM” By John Kalench. MLM being multi level marketing. MLM is not the same as pyramid seling where the people at the top recieve all the profits, and the further down the line you are the less you make. Its a really good book if anyone is interested in MLM or network marketing.
Cheers
Matt
“If you do what you have always done, you will get what you have always had.”
I think you be a lot better off looking for someone living close to the house who can meet you there like Mortgage Hunter said, you may pay a little more but your probably better off.
Matt
“If you do what you have always done, you will get what you have always had.”
Why don’t you do gooder wannabes **** off to where you came from? Have you seen what we did to anyone who knocked wraps on the wrapping forum? We told them where to go.
We wrappers are the good guys here. If you can’t recognise that, then go to another forum. Steve has made lots of money from wrapping, and that’s what we’re all about, isn’t it? Making money. If you don’t want to make money, you’re all fools. We’ll be rich like Steve and you’ll be crying out for us to take your properties off your hands. Don’t mess with the nice guys.
Jeez it was just a personal opinion, and to see other peoples thoughts, i wasn’t having a go at anyone!
Matt
“If you do what you have always done, you will get what you have always had.”
Hey Sam and Jake,
Im 17 and just graduated this year [].
WHere do you guys live, I would like to discuss stuff like this with not only experienced investors but people of my age.
Matt
“If you do what you have always done, you will get what you have always had.”
Hi,
I don’t post here often, but feel the need to comment on the issue of wrapping.
I think it is repugnent, and believe it represents all that is wrong about this property boom of the last few years.It really is just another way of ramping up the rent.And let’s face it,anybody that considers signing up as a wrappee is not going to be a financial genius. They are people usually on low incomes desperately trying to get a foothold into a market already driven skywards by us investors.
The argument that the wrapper is doing a favour to the wrappee is claptrap, designed to ease guilty (greedy) conciouences.
As an experienced prop investor I am not swayed by the economic arguments put forward.There will be a lot of tears before this sorry trend falls over.
It’s loan sharking pure and simple.
Bye
And thats the reason that i don’t feel comfortable with investing in property with WRAPS. From my personal point of view you are renting a house to someone or a couple who is finacialy in truoble, so to speak.
Matt
“If you do what you have always done, you will get what you have always had.”
Hey mcollins,
I currently have a $40k investment in a morgagte. it is at 6% i think, and i grabbed this oppurtunity as it was reasonably higher then the banks. Personally i would not go with an interest rate of 11% it sounds dodgy to me. But i am sure a little investigating wouldn’t hurt.
Matt
“If you do what you have always done, you will get what you have always had.”
Hey Rugbyfan,
I have joined your fan club [] so to speak off.
If you havn’t got sick of email them out i would love a copy to. Thanks your doin a great job. [email protected]
Cheers Matt
“If you do what you have always done, you will get what you have always had.”
I didn’t say that what Steve was doing was one, I think that WRAPS a great way of property investing, but when you get people putting a 21% mark up on the house price, not to mention the 20% loan plan.
Matt
“If you do what you have always done, you will get what you have always had.”
Hey,
I attended Steve’s seminar in Brisbane and he mentioned in one of his power point slides that people should “Avoid ‘Interest Only’ terms, P&I are better.” But he also mentioned that I only loans are sometimes good for commercial property.
Hope this helps.
Matt
“If you do what you have always done, you will get what you have always had.”