Hi,

Credit where credit is due. It was Robert Kiyosaki’s book that got me thinking, and his seminar gave me the motivation to go and do it.

As such, I would not be where I am today but for his planting the seed of a life without having to work.

Yes, like us all, he is far from perfect… but he has made a profound difference in my…[Read more]

Hi,

Further to the policy of this site, Rob was right not to name the product.

It also seems that the discussion has gone off track and as such I have locked this post.

As this is a property forum, it would be wise to stick to discussing property.

Regards,

Steve McKnight

**********
Remember that success comes from doing things differently.
**********

Hi again,

45% down seems a little steep. Shop around for a better deal as the commercial property we have done is on the basis of a 30% deposit.

It might pay to submit a finance inquiry at:
https://www.propertyinvesting.com/finance/ as see what comes of it.

Cheers,

Steve McKnight

**********
Remember that success comes from doing things…[Read more]

Hi,

Great pick up!

The whole issue of taking a risk is very underdone in many discussions.

Finding the resolve to beat the comfort zone can be difficult, but I’m yet to meet a success in any field that did not have to risk something to achieve a better outcome.

Thanks again for the contribution.

Cheers,

Steve McKnight

**********
Remember…[Read more]

Hi Soum,

Thanks for your post and welcome to the forums.

I think you have a couple of issues to consider, namely…

1. Existing Investment

On what basis, and what expectation, did you purchase this property. I expect that it is for capital gains, but have you worked out how much you would like (as a budget), and then a plan for what will…[Read more]

Hi,

Shortly we will be releasing ‘Investment Detective’ which is software designed to help you crunch the numbers and keep track of your property profits.

It is designed to work alongside a MYOB or quickbooks so that you enter in the day to day information in those programs and then input the totals (for the relevant items) into Investment…[Read more]

Hi loanwolf,

I’m glad you are enjoying the book.

My first book concentrated a lot more on the strategy, but having said that, I wanted to correct the weighting which is why I included so much ‘self-help’ in the second offering.

As for a plan, I’d suggest you work out two things:

1. How much income per annum do you want?
2. When (date) do you…[Read more]

Hi Michelle,

Hmmm…

Well, to add to the discussion, the first question you need to ask is “what outcome do you primarily want from investment?”

The two options, at this stage, are either positive cashflow (this is, income) or capital gains (that is, growth).

Inner City Apartments whould normally fit into the growth model given most are…[Read more]

Hi,

This is quite a specific question and it would be wise to pay for some professional advice.

in the meantime I suggest you read the following two resources from the ATO:

How to use the margin scheme to work out GST when you sell real property that
you acquired before 1 July 2000

and

How does the margin scheme apply to supplies of real…[Read more]

Hi John and Paula,

Thanks for your post and welcome to the forums.

I’m not sure who told you not to use loans as leverage is important to access ‘professional’ returns.

Having said that, borrowing money has risks involved which need to be mitigated and managed rather than avoided.

As for a downturn… my own opinion is that it is likely,…[Read more]

Hi Paul,

Thanks for your post and welcome to the forums!

The eternal question… “Where are the deals?”

The second book may shed some more light on the issue, but here are some thoughts:

1. In the current market, deals are made rather than bought. Find problems and solve them!

2. The best deals are not necessarily advertised, because problem…[Read more]

Hi Simon,

From the research I have done they offer +ve cashflow deals based on some rather large assumptions.

Also, the deals I’ve seen are not +ve cashflow in their own right… they are net of tax deductions.

Just go in with your eyes open. In particular, be mindful of the fees, the budgeted vacancy, the attainable rent, and the annual…[Read more]

Hi,

I understand that, like most of Aus, property prices have risen there quite substantially in the past few years.

As such, just make sure that the assumptions behind your plan to make a profit are valid. Don’t make the mistake of assuming past results re: market capital appreciation will go on indefinitely.

What is the nature of the…[Read more]

Hi labinnsw,

Welcome to the forum!

1. After I do the 11 second solution on the property, how much information should I try to get from the agent before paying them a visit to carry out further due diligence?

A good idea would be to list out all the assumptions behind the deal and then seek information about whether or not they are valid.

On a…[Read more]

Hi

Derek has provided some great information re: problem with getting finance depending on size.

I’d just add to watch out for the body corporate fees attached to the building. On that, it would pay to understand the body corporate structure and what your rights and responsibilities are.

For example, looking after the common property…[Read more]

Hi,

In our office we use WAMM from the guys at http://www.darlop.com

Regards,

Steve McKnight

**********
Remember that success comes from doing things differently.
**********

Another one…

LIM = Land Information Memoranda

There is not really a term in Aus for the same. In some States some of the info on a LIM must be disclosed in a contract (e.g. building permits in a Sec 32 for property sold in Vic.)

See here for more information / discussion on LIMS.

Cheers,

Steve McKnight

**********
Remember that success…[Read more]

Hi,

When Dave and I went over for the first time we stayed just under a week.

We hired a car and drove a long, long way. Just on that, travel times in NZ are a lot longer than in Aus for two reasons:

1. Generally, the roads are not as good or well maintained; and

2. There are far more hills and corners which cuts down your top speed.

Really…[Read more]

Hi,

It is not illegal, but from discussions I have had with NZ solicitors it is viewed very dispassionately, even more so than in Australia.

It sounds like there have been all sorts of unusual terms included in contracts that limit a purchaser’s equity and waters down their rights to next to nothing.

Despite what the scaremongers might have you…[Read more]

Hi,

I think it is a political decision more than anything else. As I understand it the left has been talking about introducing it for some years now but as yet it has come to nothing.

What do you think would happen if it was to introduce CGT though?

Cheers,

Steve McKnight

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Remember that success comes from doing things…[Read more]