Hi Quentin,

Regardless of who Robert Kiyosaki truly is, I think one thing is much more important:

John T. Reed attracts visitors to his website by slagging off about his competitors. He sells his own products, and in a couple of his attacks on others he recommends his own products. He is completely closed-minded on many topics, and tries to…[Read more]

Hi Rob,

I just completed a wrap 5-6 hours from where I live and work. It’s very hard at the start (where I’m still at), however I know others who have done this and it becomes easier the more you do. You’ll need to have the motivation to travel a great deal, and/or get someone to show the houses for you.

Alternatively, you can get special…[Read more]

Hi Fireman,

“Australia’s Money Secrets of the Rich” by John Burley and Bruce Whiting (as Robert has recommended), as well as “The Richest Man in Babylon” by George Clason, are both absolutely exceptional books on budgeting and general money management. I’d suggest reading “Richest Man…” first and then following the exercises in “Australia’s…[Read more]

I realise you’re asking from a largely structural and borrowing-power point of view, but from someone who has been in a business partnership gone bad:

1. Put everything in writing before you begin, nomatter how much you trust them. This isn’t just so you’re legally protected, but also so both of you understand exactly which angle each person is…[Read more]

I’m a little surprised to see Mr Burley’s name thrown into this discussion. He is a man of magnificent integrity, and I can’t see how he would be expected to know about the Joe Gutnick case unless he spends a great deal of time following internet case law, and also can’t see how this possibly makes him less of a “sophisticated investor”.

I also…[Read more]

My understanding is that anyone of any nationality or citizenship can buy property in the US under a Las Vegas registered company. I don’t know the full story, but Sage International (www.sageintl.com) may be able to help with setting this sort of thing up – I’ve heard about them on some tapes previously.

Regards,
Marcus.

I’m not sure how your offer works with the bank, but I’d first of all recommend getting out of the deal now unless the Exchange of Contracts has already taken place (and any cooling off period has expired). Never be afraid to pull the plug on a deal if it isn’t working out – put it down to a learning experience, and get pre-approved for loans…[Read more]

Hi Sooshie,

My personal opinion is to get into the deal for as little money down as possible. The extra 10% of the purchase price you put in is only earning the underlying mortgage interest rate of 5-7.5% p.a. (plus mortgage insurance savings which aren’t substantial enough to improve the figures too much).

On the other hand, if you could use…[Read more]

Hi Rodger,

The majority of agents aren’t investors themselves, just salespeople. Whether or not he was telling you his real experiences, you’ll find the more agents you deal with, the more you’ll realise that it’s your game and you make the rules.

Written offers mean that the agent has to legally submit the offer to the vendor, and can save a…[Read more]

Hi Rodger,

I’ve only been in the game a couple of years, but the .25% deposit clause is standard as far as I am aware (I’m located in NSW). It’s pretty fair in my opinion as if you pull out of a deal after Exchange of Contracts (and there was no real justifiable reason for it such as an undisclosed problem with the property), you may be causing…[Read more]

BayCorp give you a score based on how many times more likely than the average person you are to default or not default. It’s based on a range of factors, but any blemishes on your recent credit history will damage it an incredible amount.

They don’t seem to take into account too much that you eventually fixed up a bill – it will show on the…[Read more]