G’day Hot Rod,

I haven’t done any LO’s (so my opinion is probably worth nothing []) but I would have thought that most are done without the involvement of everyday RE agents. I would think their lack of enthusiasm is based on a lack of knowledge. If this is the path you want to follow you’ll probably have to find someone who’s already doing LO’s to guide your or else make your own system.

Rod.

Excellent post Steve,

I don’t agree with everything in your book but I agree 100% that the opportunites are out there. I’ve found several in the last few weeks which more than meet the 11 second rule.

Unfortunately most of the knockers here are focussing on the 11 sec rule and trying to apply it in their own backyard (suburban Melbourne or Sydney), where it often doesn’t work.

Human nature being what it is those that say it can’t be done are probably right – for them. I say it can be done and I’m going to do it.

Thanks for the book and this fantastic forum.

Rod.

This may vary from State to State, but you can probably get your solicitor to request that the deposit funds be released. This will be done through the buyers solicitor and the buyer is not obliged to agree.

Rod.

I agree with the blonde (Sue that is).

There’s no reason you should have to touch that $50K provided you meet all of the lenders other criteria (deposit, serviceablity etc.)

Rod.

Hey Arty,

Your work sounds just like mine.

Hang on, so does your home – maybe we’re twins[?]

Rod.[8D]

Hi Pinky,

You’re going to hate this answer but “It Depends”.

Really you need to balance out what your aims are at this point in your investing life. If it fits your aims and you’re confident of the growth potential and willing to fund any losses (though with various deductions these may be ver small) then go for it. If it doesn’t fit your criteria then move on to something that does.

Personally, I’ve done very well out of some -ve geared properties that I’ve got, these have given great capital growth. I’m now using the equity in these for +ve cashflow IPs as I can’t keep buying -ve ones (the bank won’t let me).

The 11 second rule is just a filter. At the moment if a property doesn’t easily pass it I won’t buy. However IPs I’ve bought in the past don’t qualify and I can certainly see that I will buy some in the future that don’t pass either.

Rod.

Battz,

Great job, very inspiring.

Arty, they are out there. But they’re certainly harder to find and you may have to go further afield. I’ve got offers in on a couple at the moment (no, I’m not going to tell you where [])

Rod.

The amount of tax payable on the income will depend on how the trust’s income is distributed. Also doing this will mean you lose the PPOR CGT exemption.

Rod.

Mmmm…. Pinky,

What sort of movies have you been watching[?]

Rod.[8D]

I seem to remember a similar “outcry” about this time last year about FHOG being used for million dollar properties. I think this must be when the latest figures are released.

Funny how the stamp duty hasn’t been really mentioned since the state election campaign, the politicians have no incentive to reduce it. They like the revenue too much.

That airbrushing thing is quite interesting, can’t say I’m surprised though. Sooshie, I think your cynicism is well justified.

Rod.