Forum Replies Created
Um, yes Yack, but has Jenman actually contacted G7’s mate and/or attended the course ???
If not, then how can Jenman claim it’s a ripoff ?? A little premature ??? Or does he just want more publicity for himself again…..
Darren,
Sorry but I dissagree with you…. we are wrapping quite nicely at the moment…..
We are having trouble keeping up with demand….
It’s all about how you buy… and obviously where….
Cheers
Scott
Terry,
Unless costs have dropped since 2 years ago, it’s not worth the cost to do it…. The banks make all the profit and not the option writer….
Did the sums… was gonna borrow 150k…. but ended up that with the fees and interest, I would get nowhere !!!
I think, as we all know here ( well I hope anyway !!! ) Leverage is the best way to go to grow your nestegg…..
Cheers
Scott
Just a quick update.
Buyer decided to go for wrap instead of L/O…. Their choice….
In the process of doing the legals now, but it seems we have done a wrap on a restaurant building !!!
Cheers
Scott
Age,
On one hand you are asking about ethics, then in the next breath you talk about risk ????
Sorry, just abit confused !!! [blush2]
Ethics – DEFINITELY – BUT, depends on the wrapper…. the Majority of us who wrap do it with ethics in place… and are open about what we do…. The reaction from a person when you tell them they qualify is so rewarding…….
RISK – YES – Definitely as a vendor I take a bigger risk that a standard bank loan… this is a people business… you have to realise that, and, at the same time, manage your risks….
ACA – is not exactly what I would call proper journalism by any stretch….
Cheers
Scott
Pelican Investments
http://www.pelican-invest.comChan
We “did” covered call options for approx 2 years….
when the price of our shares was at or above what we paid for them, we had a good monthly return….
When market is flat or downtrending you wont make a return….. simple as that….
When we did get a return we averaged 4%-5% per month……
You also need to remember the one drawback is not really being able to leverage your $$$$$…. so. if you have 50k to invest, you get a return on the 50k….. if you used that 50k for a property, which is leveraged, obviously you get a net return on a larger $$ amount…..
We found it too unstable an income stream…. it does work, but you have to fine tune the strike level, so that if you DO get called in, you don’t lose your overall capital…..
Cheers
Scott
Pelican Investments
http://www.pelican-invest.comScremin,
Unfortunately…. historically teachers have been SO UNDERPAID…… I truely believe the saying that ” Film stars should be paid teacher’s wages, and teacher get film star’s wages “
It’s the parents we have, AND the teachers that shape a young person and their values…..
I’d say you ARE ALREADY successful….
Money is not always what people are aiming for to be successful…. Often it’s a by-product…..
My definition of success will be that I no longer have to work, so that I can spend time with my children everyday, being heavily involved in their lives….
With my first son, I was travelling with work so much, I missed his first steps, and, only saw him for a few days each month….. I regret that….. I ended up being retrenched…. so, my sacrifices were for nothing in the end…..
As Steve has mentioned, we only have a limited amount of time on this earth…. better make what you do count…..
Scott
Henry
I think the main issue, is ensuring you have documentary proof….
Making multiple trips I guess would be possible, but you may get a lot more questions….
If you have a company or trust struture going, then you have an easier time proving the legitimacy…. as far as personal deductions go… not sure…
Either way, your accountant is the place you should check for absolute sure on this issue…
Cheers
Henry,
getting very complicated there…..
When on a trip, make two visits…..
1. to a RE AGENT, and get some brochures and business cards from them…. hence ” I was inspecting properties with a view to invest….”
2. To a bank or finance company… and…. as per above… get the brochures & business cards…. ” I was meeting so ans so from XYZ company with regards to financial backing of my company “
You are then sorted…..
Scott
Pelican Investments
http://www.pelican-invest.comGotta add my 1 cent here….Sorry folks
Get out there and INVEST…. at the end of the day, we have to live with the tax at least until the next NSW election, or, heaven forbid, buy in another state….
Whilst I agree with Melbears qoute from Kiyosaki about taxes, you do still have to consider the cost of taxes, if AND ONLY IF, you plan to sell….. AND by the time you may want to sell, whos to say whether that tax still exists…
BY ALL MEANS, incorporate it into your investing plans, but, get out there and go for it…. the 2.5% tax should not be putting anyone off…..
YES, it’s unfair…. SO WHAT…… you cant do much about it now…. so get used to it for now….
Just dont let it become an excuse for inaction…..
peace all…
Thanks everyone for your responses.
We decided to go L/O in the end… with a LARGE option fee to lock the people in….
Place is only two years old, and, also has a 2BR house attached to it…..
If we do actually go for it, will post an update….
Cheers
Scott
Pelican Investments
http://www.pelican-invest.comLest anyone think Pisces is ranting on…. I invite you to visit the REIV website, and learn more of Mr. Jenman’s practices….
http://www.reiv.com.au/media/eaarticles/pg_media_eaarticles_wheresjenman.html
Very interesting indeed……………
Mel,
VERY strange then……
Did they appeal it ???
ng2157
From what Steve has mentioned in tapes of his, what actually got him and Dave going that first night, was a Robert Kiyosaki Seminar.
I think it’s safe to say that many of us refer to multiple authors and gain whatever we can from them. The problem is, after some time, you get less and less from the books etc, as you’ve already learnt it….
As far as your comments go on the Real Estate Institute Presient. It would seem that person is out of touch with reality…. People are always going to need a place to live in. Sure, prices will come down, but 50% drops…. what has she/he been smoking ???
A Sensible property investment plan should always include the management of risk…. RE investment is not a 1-2 year thing… you need to be in the market for 5-10 years….
Mr. Jenman… hmmm think everyone knows my comments there, so will leave it alone this time…. He does try to help from time to time, bless his soul…… BUT…………………………….. well. no comment this time…..
Scott
If you DO claim, make sure you provide proof of your property searching or whatever, by listing company names, addresses, maybe get a few peoples business cards, etc….
Celivia,
Yeah, well I was bored…..
nice to see everyone wasting so much energy on this thread… in the days since it started we got busy and bought 3 houses, wrapped 2, and, are looking at another 3…..
folks, get back on track…. PROPERTY INVESTING……
This whole thread was a WINDUP…. and you all went for it….. me included at first…..
Martin is fully entitled to his opinion, just as we are ours…. doesn’t mean we all have to agree…..
Get out there and start DOING something, instead of sitting in here and whining about it….
Kay,
The VFA aims to have a form of accreditation, and, also compliance with a code of ethics as condition of membership…
VFA isn’t a regulator, no, but it is working closely with them.
You’d have to check with VFA for stats, as I’m a member, not on the leadership committee….
2004 sees wraps steaming along… if you have properties priced at the right level…..
We have sold quite a few this year, and are having trouble keeping up with demand…
Scott
Pelican Investments
http://www.pelican-invest.comMelbear,
you are only taxed on earnings derived from Australia…. Certainly it seems something went wrong with you friends case….
Did the Hubby change his status when overseas ??
I’ve been overseas for 16 years now, and, am not taxed on income here… only income on my IP’s / companies…..
Cheers
Scott
Welcome !!! Congrats on “losing your viginty” hehehehehe….
What sort of strategies are you looking at… perhaps you could share with everyone here……
Cheers
Scott
Pelican Investments
http://www.pelican-invest.com
