Looks like reasonable value…

I just wish someone would tell the seminar promoters that I am sick of the super long, buy-the-template-fill-in your-blurb “brochures” that always start, “Dear Friend” (and that is usually followed by “Monday 10.03 am” or similar) and then proceed to reel off paragraph after paragraph of usually unsubstantiated hype about the event as if they are too scared to tell you the cost, date, venue etc. Someone needs to tell them we consumers feel like they think we are suckers when they use these standard marketing techniques.

And pleeeezzz, do they really think they have found the “secrets” of the wealthy that nobody else knows about? Why don’t they just say, we think we hve some info and experience you might find valuable to your own investing situation so why don’t you come along and see if it’s useful to you?

Anyway, my no.2 post after Masterclass Steve…

skippygirl :0

Hey Dazzling,

Yes there are lots of others like you. My partner, the love of my life, is an entrenched employee with the corresponding mindset. He wouldn’t dream of not working at the PAYE gig whilst I could see him handling alot of aspects of the IP’s eg contractor management, contract negotiations, project management etc.

But investing is not this thing, he likes to work and come home to his family. It took me a while to drop the notion that we HAD to be the dynamic duo working together on the grand investing plan. Luckily he is a saver like me, so we don’t have the reatil therapy issue. He never spends a cent.

I stopped trying to make him like me. The catalyst was going to a seminar and hearing a couple of speakers talk about their massive property portfolios (Craig Chandler and Brendon Fordyce) and I realised there was not one word about their wives, their wives were not even there, I have no idea who they are.

Bless him, though, he supports me and my goals for the family’s future wealth, and takes full responsibility many weekends whilst I am out researching suburbs or meeting buyers. I don’t go through every little detail as he’s not interested and I table documents for signing etc after dinner and we discuss what they are but that’s it.

In fact, I got to that seminar by making a deal with him that I had to earn back the cost of the seminar whithin 12 mths, and BEFORE I went to any other seminars. It gave me a huge incentive and I did it. It’s a case of “show me the money” and then some of the fear abates.

Cheers
skippygirl

South Australians do lease-options instead.

Do some searches for lease options and there are lots of resources for them.

Some South Aussies might help also.

Cheers
skippygirl )

Sounds like they are using your money for deposits to buy properties with loans you apply for, and sell them on lease-options. That would be the way you could refinance during the 7 years to access any capital gains.

Nothing wrong with that, but if you refinance, then watch the difference between what you owe on the property and what the option strike price is (what the buyer is going to pay for it) as you might not get any back end if you borrow too high.

That might be OK to you if you re-invest the drawn funds during the 7 years I suppose – do your own numbers.

Like all due diligence, check on the arrangements for all cash coming in, i.e. the inital option fee, the rental and the back end, to make sure you are happy with the distribution or split.

Cheers

skippygirl

No more than when you bought your first property I guess.
Your first investment is always your worst – and you have to enter the market sometime Yack. Get in line and stay in line.
Good on them for taking their first steps and taking action – they’ll find a way just like we all did.

skippygirl

Thanks Mobile Mortgage,

Luckily it’s not me, I love my AAA.
It’s a potential wrap buyer who is comparing what he can get in terms of loan products c.f. the vendor terms I’m offering him.

Thanks again.

Cheers
skippygirl [biggrin]

Dear All,

I went along last night – lucky I was NOT the Lone Ranger – and found it very inspiring. A couple of points hit home with me – having a certain number of IP’s and still managing them myself, and not having congruence between the properties in the portfolio.

I had really been analysing each deal in isolation and if it makes $$ I gave it a “go” decision. Steve mentioned the IP’s inside the circle and the ones that went outside had to go so I have to revisit some.

The other important item was time – the never-ending dilemma. If I had a wife who looked after the house, the kids, the bills, the social engagements, the birthdays, Christmas, holidays etc then maybe I could be like Steve and focus on RE 100%. Crikey all I would have to do is go to work and manage the RE investing.

But unfotunately I am the wife and we both work full time and hubby is providing nearly all the parent time outside work hours whilst I work on RE in those hours. The “cost” is the sacrifice of time with the kids outside work and I assure you the other cost of delayed gratification we have in bucketsful.

The 2 salaries are strategic for debt servicing until our sold-on-vendor-financed IP’s earn 100% income status. Plus I actually love my job as it builds skills needed for RE and I don’t pay for learning those.

I’m reading “$1m in prop” so maybe some of the MAPPER women will give me inspiration in this area. My outpouring for the day…..

Cheers

skippygirl

I think it is Keith Cunningham who says to make a profit you –

find out what people want and give it to them.

Cheers

skippygirl [biggrin]

FlyHigh,

Do you remember the name of the first company – the lease-option one?

Skippygirl:))