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  • Profile photo of pelicanpelican
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    January 27, 2005 - 7:20 am

    Del,

    Suggest you also read the article in API (Feb) about the report…. makes some very valid points…..

    As does ALEX above……

    Cheers

    Scott

    You may know the cost of everything…. but what about the value ????

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    January 27, 2005 - 6:47 am

    try http://www.m90.org heaps and heaps of funny pics & vidoes….

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    January 18, 2005 - 1:41 pm

    Steve,

    Thank you….. Sanity prevails…..

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    January 15, 2005 - 3:49 am

    Just a thought……

    For some people maybe their job is a Liability ?? i.e. it’s keeping them from going on to much better things ?????

    That whole inaction thing again ???

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    January 14, 2005 - 1:09 pm

    Gary,

    I’ve good comments from several people about LOAN ALERT

    Have a look at it : http://www.loanalert.com.au

    Cheers

    Scott

    You may know the cost of everything…. but what about the value ????

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    January 12, 2005 - 4:47 am

    This is great to see…..

    something clear about wraps and the UCCC…..

    ROLL ON MORE PROTECTION & REGULATION…….

    You may know the cost of everything…. but what about the value ????

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    January 6, 2005 - 1:28 pm

    Hi Noviceguru,

    Suggest you do a search here on WRAP & DEFAULT

    This issue has been discussed at length recently…

    Cheers

    You may know the cost of everything…. but what about the value ????

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    January 5, 2005 - 2:35 pm

    Small update here !!

    I found a kids comic book from Kiyosaki today, called ” Escape from the rat race..”

    Bought a copy an my son LIKES IT !!!!

    Kiyosaki is headed in the right direction I think…… Preaching to kids as an “adult” will never work…. but at a kids level…. now you’re talkin….

    CHeers

    Scott

    You may know the cost of everything…. but what about the value ????

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    January 5, 2005 - 10:41 am

    Thanks all for the great input as usual…..

    Will check out the websites mentioned…… Thanks Steph… yours also sounds good

    My other son, bless his heart (5) is VERY careful with his money, and, saves all he can……

    You may know the cost of everything…. but what about the value ????

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    January 3, 2005 - 2:23 pm

    John,

    Nice to see you adding to this…

    We have to get something going again…..

    I’m only back to Oz earliest Jun/Jul so am unable to help…. ( for Qld )……

    Sad to see it like this…. But we HAVE to move forward or we will end up with legislation drafted up, based on misinformation sprouted by <edited> the likes of Jenman and others…..

    You may know the cost of everything…. but what about the value ????

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    January 3, 2005 - 3:42 am

    Paul,

    Some great ideas there…

    I think we need to “re-launch” with the state bodies, linking to a figurehead federal committee…..

    We need :

    – New Website with new web address…..
    – New name ?
    – Implement Code of ethics which we worked so hard to produce
    – Get out there in the faces of the Fair Trading dept. AND the public
    – Publicly engage the Jenman’s of the world, and, by doing so, say to them, right, if it’s so bad, work with us to fix it….. if he won’t, then the world will know he’s not kosher…..
    – publicly available information packs explaining wraps etc
    – be in the position to respond rapidly to any negative / misinformed press…..

    my 2c worth…..

    You may know the cost of everything…. but what about the value ????

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    January 2, 2005 - 7:47 am

    Robert,

    Please let me add my 2c here.

    Michael Gruber served as President of the VFA, VERY WELL…. he was independant, and, tried his best to further the industry.

    It’s only since Michael & Committee departed that things have gone off a cliff…

    – To Michael – Can you please advise, why did you step down ??? I don’t know who it was that stepped in your shoes, but to put it bluntly THEY ARE BLOODY USELESS……..

    You may know the cost of everything…. but what about the value ????

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    December 31, 2004 - 12:24 pm

    I hope Michael G sues the SMH for negligence / incompetence & damage to reputation……

    About time these morons got both barrels for blantant fiction……

    You may know the cost of everything…. but what about the value ????

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    December 27, 2004 - 6:02 pm

    You know my folks always said, “if you haven’t got anything nice to say, then keep your mouth shut”

    Mr. Jenman….. Time to follow that…..

    It seems he’s only interested in stories to portray him as the messiah… who can help all…. and only his way is the right way…… and in the meantime, MAKE A LOT OF MONEY…….

    Jenman always goes on about people like wrappers making money off the poor and out of luck folks out there….. he does the same…..

    It’s sad that probably he does do some good out there, but the endless, one sided, and sometimes fictional promotion of self has done a lot of damage…..

    So called “ethical” companies do not act in such a way……

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    December 27, 2004 - 1:45 pm

    WOO HOO – GO ROB GO !!!!!

    ( not the BOLD letters !!!! ) DOH !!!! LMAO !!!!

    How does the old saying go. if you feed someone sh## someone long enough and tell em it’s chocolate… sooner or later they will believe…..

    Thanks for your objective review of the “STORY” so… if it’s a story… does that mean it is FICTION ???? an interesting thought…..

    Cheers

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    December 26, 2004 - 3:55 pm

    The lights are on, but nobody’s home……..

    Even the past president can’t be bothered responding to queries…….

    A great opportunity…. now wasted……… It could have been a chance to make a difference through some self regulation…. sadly nothing has happened, and, many people who cared, I would assume, have now walked away……

    A great Shame…

    You may know the cost of everything…. but what about the value ????

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    December 20, 2004 - 5:52 am

    Hi Shackles,

    Seems like you got some good advice above, but would also like to add :

    LOAN type : Are you on an Interest Only loan ??? if not, maybe you should consider that to reduce your negative gearing ??

    RENO : Is a cosmetic reno possible, to increase the value of the property / AND / potentially increase the rent ??

    Good luck with whatever you decide, and, yes, Jo’s right… avoid CGT if you can bear it……

    Cheers

    Scott

    You may know the cost of everything…. but what about the value ????

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    December 20, 2004 - 5:47 am

    Rob,

    OK, see where you are coming from…. i.e. the new starters out there….. true…..

    For the bigger guys it’s different…. correct…..

    For us, we started out at the blue guy, who then turned negative on wraps ( which we did disclose ) so, we went to a community bank, sat down with the manager and explained in great detail what we do, and, our way of operating. we did a LOT of deals with them, until their conservative lending ( LVR’s ) policy got in the way. We are now at a big 4 bank, and they have full approval to give us wrap loans.

    IF anyone ever asks us, we do direct them to our contacts, but will not display the information for every tom, dick & sally…… :-)

    Rob, you obviously know a lot about the ins and outs of UCCC, so I trust what your are saying on this.. BUT….. I still am hopeful that a way can be found which will protect the wrappee….

    Merry Xmas / Cheers

    Scott

    You may know the cost of everything…. but what about the value ????

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    December 19, 2004 - 5:16 pm

    Hi Rob,

    If you don’t mind me commenting here, from a wrapper’s perspective….!!!

    Originally posted by The Mortgage Adviser:

    I find it interesting that all the wrappers I see on here go on about all these deals with “A BIG BANK” but never tell anyone the names of the bank they deal with. Unless you are an experienced wrapper, I highly doubt any of the major 5 will permit a loan to go through as a wrap deal.

    I have to agree with your first comment here, but feel that it is more to do with not having someone take advantage of the building of a relationship with someone wading in a possibly ruining things…. As a broker you will probably have seen that often it is HOW you approach a bank and WHAT you SAY that is the difference between loan approval or rejection.

    As you know wrappers do tread a fine line, but I can assure you the BIG 4 banks WILL do wrap loans directly AND fully disclosed….
    [blush2]

    Originally posted by The Mortgage Adviser:
    Regarding getting a bank to put it in writing that they will sell a property to a wrappee in the event of the wrapper defaulting, IT WON’T HAPPEN!!!

    There are rules about taking possession of property and mortgagee sales to maximise the amount received from a sale. Auctions are often used as the lender has a requirement to obtain as much as they can to cover their costs and leave something extra for the borrower who defaulted. I can’t see the lender honouring an agreement to sell a property to a wrappee especially if the property value has surpassed the agreed purchase price in the wrap contract.

    OK, on this one, yes, we live in hope, and I’d say, lets give this time for the bank in question to work on it.. If they CAN see a way to do it, it would be a great way to protect the customer… and I applaud people out there trying to do this….

    Let’s give it time !!! It’s a step in the right direction…. if it is possible.
    [blush2]

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    December 17, 2004 - 12:18 pm

    Hi MA,

    Nice to see you are back and helping out all the new members…..

    Kudos on your newsletter by the way… LOOKING GOOD !!!

    Sorry – They don’t have Catalytic Converters for most go Karts… and that is why we use Benzene Free racing fuel….. Burns the skin like hell though !!!!

    Cheers

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