Mortgage Adviser there is no breach at all as I NEVER called. They called ME. The clients that is.

It goes like this. Broker gets approached by client. Client applies for finance on a house they are keen on. Broker can’t get them finance. Broker suggests they call me. They call. I buy house with loan from broker. I wrap house to client. Everybody…[Read more]

I’ve had a couple of referrals like this. Also some from Real Estate agents who have had deals fall over because of finance problems.

The broker likes it as he gets another loan and the agent likes it as they get another house sold.

Hi Julia,

I think the template Steve is referring to is a template of particular words like wrap, Steve etc. If you type any of these words in your posts then hey presto they are automatically underlined and up pops the advertising that Steve so chooses.

I guess you can’t blame him for plugging his wares wherever he can on his own site so the…[Read more]

Yes, Rick was there. I sat next to him and his wife.

This refers

http://www.creditcode.gov.au/display.asp?file=/content/hardship_threshold.htm

Hi Destined,

To answer your question I live in Sydney but I spend a fair bit of time in my place at Noosa.

I don’t post too much but I have followed your investing path Brenda. Well done. Your attitude and approach to investing really is exceptional. For what it is worth I think that in the current market your stance is also very…[Read more]

Good to see young people having a go. My story is not greatly exceptional as it has taken me quite a few years but here goes.

I started investing around 30 years ago in the early 70’s.

Finance was extremely hard to get in those days and a friendly bank manager was a necessity to get any sort of bank money. Unlike my peers at the time I save…[Read more]

I tend to agree with Julia & Myydral. I don’t like the auto underliner either.

Not to all lease options Rob, just the ones where the tenant would qualify for rent assistance.

Where else Rob…our good ol’ government with your tax money.

http://www.familyassist.gov.au/internet/fao/fao1.nsf/content/payments-ra#1

Yes Felicity I know where you are coming from and you are right.

My situation is a little different. I have been a real estate investor since around 1974 I think. Over the time since I think I’ve just about seen it all.

My income from investments is quite good these days so getting finance is no longer a problem for me.The cashflow is not as…[Read more]

Robert, the wrap pack I have from Steve does not have a contract in it but it is his early one, circa 2001. It does have references as to what needs to be legally covered however.Lewis O’Brien was the applicable authority. I think Steves later one does but I’m not 100% sure. I would surmise it would only be good for Victoria anyway .

I was going…[Read more]

Quite frankly the wraps I’ve done over the last 3 years have not made me as much money as if I’d just kept them as rentals.

I’ve been refinanced out of around half of them which means they are worth a lot more than what I wrapped them for.

If I’d kept them as rentals I would have all that capital gain for myself. As for the other half, I reckon…[Read more]

Robert, I think you will find that the caveat clause Michael refers to is standard in most wrap contracts.

Because specific conditions must be met before the removal is exercised not one of the solicitors who my purchasers have taken the contract to has queried it. Thats in over a few dozen wraps with many different solicitors. Guess there will…[Read more]

I think the media are just amazing. It was only a couple of years ago that ACA called Steve “Melbournes Housing Hero”.

Fast forward to now and what he was doing then has now become villainous.Go figure.

Here it is.

http://seven.com.au/todaytonight/story/?id=17719

Yeah, I was wondering the same thing. If this is the way it is then the increased valuations and sales seem to account for the lions share of the “profit”.

As the cashflow is a gross amount the net amount would probably be somewhat reduced after removing what may be considerable expenses?

Manoj,

From the info at the link you posted it appears you are the proprietor of site. Easy to see how you got your info there

Call Tony Cordato.
He does the lions share of the wrap contracts in NSW.

Cordato Partners 9290 2773

Maybe the lesson is stay out of the media [biggrin]