There’s an article on this in the JB FAQ at:

http://www.mastermindforum.com/resources/burleyfaq2.htm

Its written by Bruce Whiting, JB’s Oz accountant for Australian conditions. Just scroll to near the bottom of the page. From memory he advocates using a single director company (for protection) whos share are all owned by a trust (for tax…[Read more]

One of my friends *was* one of their main testamonials who would get up and talk about NII at their introductory sales pitche…ahem, “seminars”. Let’s just say that since discovering the properties she bought with them had been over valued by about 20-25% each and that they’ve lost $50k each while the Syndey property boom was still on, she’s not…[Read more]

I wondering….

If you negotiated for the vendor to finance 20% (or 10% + 10% deposit) could you get around paying mortgage insurance, and thus the whole “borrowing limit” as the bank is only loaning you the 80% on each property…

Quasimodo

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We are all but half formed…[Read more]

Depends on where you are and what exactly you want…

What constitues “the best” investment will largely be based on you. If you want something low maintenance then a wrap or a strata title appartment may work better, if you want to raise the value yourself with your own hands (or tradespeople []) then maybe a renovation would be better. If you…[Read more]

Can you think of a better way to become “financially minded” than to be tutored by people who are?

I can’t!

Maybe that’s why I’ve become a seminar junkie…
Just as well they (nearly) always pay for themselves many times over! []

All the best! You’re on the first step to a better…[Read more]

Just remember that you’re hoping to make cashflow not just now, but also in 10-20 years time (barring cashouts). Thus you need to be careful of number 3 as if the population is shrinking and everyone’s moving out, then who’s going to be your tennant if you lose the current one? With number 4 you’re a bit safer, however with any town that has only…[Read more]

The fact that Steve uses the word “passionate” really sums up one of the most important points about property for me.

For example, as most of us know, profits can be made many, many ways however read up on making money in paper assets and it won’t be long befor you come across the standard advice of “Know your system. Stick to trading your…[Read more]

I’m sure there are others here who would appreciate hearing about this, too steve! []

How about a post to the board? Other than attending PM there’s not a great deal of info on who you’re looking for.

BTW Great idea! All the best with your book!

Quasimodo

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We are all…[Read more]

Hi Fireman!

You wouldn’t happen to be the same fireman from the JB forums by chance? If so we know each other and I’d love to hear how you’re going!

HINT: I’m a certain ex staff member you’ve met at a number of seminars! []

Quasimodo
quasimodoshome@yahoo.com.au

PS If you’re NOT the Fireman off the JB forum feel free to ignore this!…[Read more]

Hey there Peter!

The version I’ve heard advocated is to send out mass lowball offers site unseen with escape clauses and then to just inspect the ones that bite, as it were. The idea being that you only spend your time looking at the bargains. Just be prepared for a bunch of unhappy WTF!^%!&^!!!! phone calls from vendors…[Read more]

Just another thought for if you’re wrapping…

One of the ratio’s I’ve come across a few times is the “will tennants actually be able to afford it” ratio. EG will the payments be (overly) disproportionate to rent rates in the area. Another well known wrapper (who will remain nameless! []) works to a rule that the payments should be around 20%…[Read more]

Hi there!

You can get some basic free info on suburbs at Home Price Guide and Proverty Value, with both offering to give you various levels of extra info for a price. Check out the links below for the free stuff, remembering that unless they say otherwise the data covers the whole postcode, not just Whitfield.

HOME PRICE…[Read more]

Most lenders will let you do this, however for them to consider it, you’ll need to provide them with a good reason first. EG “I bought six months ago at full market value (show comparables) and since then prices have risen 15% (show data from someone linke RPData/Residex and/or comparables). I’ve improved the property in that time by painting,…[Read more]

My thoughts are how you can use the “tennant trashes the house” scenario to your advantage…

I know Dolf DeRoos jokes about getting comprehensive insurance so that any time he wants to get to “repair” his property for free he just moves a biker gang into his property and waits for them to “do their thing”! No disrespect intended to bikers, so…[Read more]

quote:
i have heard on the posts that you can buy below market value, is what i am about to do ,is the answer to below market value ? or is this not so

That depends…

Buying “below market” means that you bought something (land/house/unit etc) for a cheaper price than equivalents at the same time. So in this case as you’re not buying a house,…[Read more]

I second that

Why would you sell a good investment when you can access the equity cheaper and still retain control of the original property?

I’m not about to pay the government more stamp duty than I absolutely have to… []

Good luck!

Quasimodo

quote:
Please forgive the slightly long post. I’m seeking some thoughts on what might be my best…

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Hey Nick!

This is a fabulous opportunity! Long saettlements are normally something *you* want to negotiate fore, not the vendor! [] You might want to agree to the long settlement on the condition that you have access to to the property for the purposes of making improvements. This way, you have six months to make cosmetic improvements to the…[Read more]

Hi Mary

I’ve done Henry’s property course and have actually been working in the seminar industry for quite a while (am currently off in Canada not working for anyone so my advice is relatively unbiased at the moment . My experience was that I was very impressed when I first went to Henry’s course as he rattled off masses of information at a very…[Read more]

1/How would a 2% increase in interest rates efect a property.

If you have your tennants rate tied to yours, then they are covering it, having gone into the deal full well understanding that this is how it works.

2/ A tenent can not be found for a property for say 3 months.

This is why you advertise for tennants *before* buying the property and…[Read more]