Hi,You could seek to get the details of the council… I'm not sure if the rate payer roll is public record or not though.If not, you can always do  a title search. That will tell you the owner and a contact address.All the best,- Steve McKnight

Yep – the FL auctions are now over for 2010, but those 'sold back' to the county are available for over-the-counter purchase. I will be looking at them.That said, other States have auctions in other months.In regards to strategic 'hand back' mortgages, we talked about this at the event when covering the due diligence. In particular, the rule about…[Read more]

Yeah… I can remember in the mid 1990's wondering how I could ever afford to buy a $200k house in Melbourne… Alas for those searching for a way to make it work now!Look, the days of buying a home and working to pay off the mortgage are coming to an end… it's just not possible for your average person to do this as property prices are…[Read more]

Hi,There will be others with broader mortgage working knowledge than me, but, I'll have a crack at giving you an answer…1) Yes, there will be interest on the $100k drawdown (which you might be able to capitalise or else pay for out of the drawdown rather than paying cash). There will also be interest on the loan for the IP.That is, I'm assuming…[Read more]

Hi,Are you sure it's my book… can't recall writing one under that title As a general rule, beneficiaries are usually worded in a generic sense as far as family is concerned (mother, father, cousins, step siblings, sons, daughters, grand children etc), plus you can also nominate specific beneficiaries too (a company, charity etc).For a more…[Read more]

Hi,You can definitely bank US checks into an Aus bank account with the majors (NAB etc)… I've done it many times. The banks hit you on fees, clearance times and with an unflattering exchange rate though.  I'll keep looking for an answer for a US account, but the issue is having verified ID.The trick in applying for an ITIN is having the right…[Read more]

Hi,Thanks for starting this post. We're very open to constructive criticism and we are fully on-board to make the event better.In particular, I appreciate the comments about being 'oversold'. We set very strict rules around conduct, and that the content of the presentation must empower people to understand the concept. Only then, if people want to…[Read more]

It really is starting to look like a bubble. In the last board minutes, the RBA mentioned that the motivating factor in increasing interest rates was growth in house prices. This will surely add fuel to the fire of further increases in months ahead.Still, even if we are in a bubble, will it pop (like Steve Keen predicts), or will it deflate?My…[Read more]

Also suggest you look at:http://www.ato.gov.au/individuals/content.asp?doc=/content/62426.htm&pc=001/002/002/010/005&mnu=&mfp=&st=&cy=1This is the ATO's very general outline for property investors.- Steve

Hi,They are a cost incurred in earning assessable income, so I should think so.More info can be found at:http://www.ato.gov.au/individuals/content.asp?doc=/content/00113245.htmIf loan establishment fees can be claimed, then surely break fees could also.Check with your accountant though.- Steve

Highly recommend this guys.Good quality info, good quality people.- Steve McKnight

Welcome to the forum.A couple more suggestions for you:www.news.com.au is a good Aussie news siteYou can also set up a google news feature with hot wordsDepending on where you land there might be good local investor groups you can join. APN in Vic is one.All the best for the move across.- Steve McKnight

Hi,I suggest you take a look at:https://www.propertyinvesting.com/strategies/flipsIf you have the revised edition of my book, you can also read an expanded chapter on the topic.Regards,- Steve

Hey Sean,I went over to the States last November and started buying some US property.I spoke to Wachovia bank about the possibility of borrowing money, and the short answer was that it will be very difficult until you have a credit history and a banking history.You can go with 'hard money' lenders, but I wouldn't.Another option is to set up a…[Read more]

6000 people reported out of work.Still, if it makes it safer and less of a rot, it's a good thing.I had a laugh when I saw a cartoon in the paper with the line "how can we sleep when our batts are burning"Classic!- Steve McKnight

Agreed – too much 'soft spam' is flying under the radar.But you can help us! At the bottom right of each post is an 'angry' face. Click that and it will report the post as spam and we will investigate.Regards,- Steve

Hi,Welcome to the forum.I haven't sold the Wrap Kit now for a few years. I still have all the files etc on the computer, but they are probably a little out of date now. It's also been many years now since I did my last vendor finance sale.You may have some luch on ebay, as I have seen a Wrap Kit for sale there from time to time.As for software,…[Read more]

D,Nice try, but that's not what I am talking about. In your situation you are getting to a 100% leverage situation, and this will be tough to get approval for because when lenders do their due diligence in the post GFC environment, I suspect it will be identified and knocked on the head.Also, I'm not sure it would work out in the debits and…[Read more]

Hi Terry,I can only talk from personal experience. I have borrowed millions from many different lenders over the years, all with the same structure. This year I have borrowed with Bank West and NAB, and have had specific chats with senior personnel who are aware of the practice and are fine with it – indeed, that say that's how most of their high…[Read more]

Hi,The essential point made in the book is not to 'hide' the fact that you are a guarantor, but rather to acknowledge that a guarantee is not a debt.I am yet to find any evidence that lenders treat a guarantee as the same as a personal debt. Instead, what seems to be happening, is that lenders are taking a much closer look at serviceability in…[Read more]