Hi George,

Point noted – and it is with great pleasure that I start the gossip train running…

It seems that Barb and her fellow team of bird-doggers have in fact created a resource that is in the post-edit phase.

Stay tuned for more info…

Cheers,

Steve McKnight

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

Welcome to the forum. You have just completed a book that was relevant in 1999. The 11 second rule does not work now.

I couldn’t disagree more. It’s the application has changed, the theory remains as relevant as ever.

To this day I continue to use and apply the 11 Sec. Solution as a rule of thumb to help understand the relationship…[Read more]

Hi,

Clearly an organisation that resorts to having to spam is not one of integrity.

I have followed this up directly with the people concerned and have received the following reply:

Dear Steve,

We apologise for any inconvenience that may have been caused to yourself or any user of your website, through Annette emailing people regarding…[Read more]

Hi SusanJ,

Thanks for your post and welcome to the forum.

Note: I have assumed that the property came with clear title (i.e. no existing debt), and that you want to keep it rather than sell it.

The easiest way forward is to seek out a mortgage broker to help you arrange a loan for $60k. As this is only 50% of the current value, you shouldn’t…[Read more]

Hi Tim,

Most of the statistical info can be gained online for a price.

For mine, the population seems a little small. So, without a niche deal or expanding infrastructure, you may find growth to be restricted.

From a cashflow point though, so long as you can mitigate the vacancy issue, then yields may be attractive.

Regards,

Steve…[Read more]

Hi,

Welcome to the forum, and thanks for reading my books.

You have picked up on:

action + reaction = momentum

but don’t forget that:

money follows management

As such, I’d suggest trying to find a deal that looks attractive and then shop it around. Perhaps even get in touch with another bird-dog and ask them to refer it to his or her (mini…[Read more]

Hi,

Just clarifying, would she get nothing because:

1. There is no equity left after sale costs; or
2. Because getting the money out of the coutry is difficult?

How much money are we talking about? A little more info would provide a context for any help provided.

Regards,

Steve McKnight

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Remember that success comes from doing…[Read more]

Hey mate,

You’re more than welcome! Please report back with your decision / research / more questions.

Regards,

Steve McKnight

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

Hi,

Good book from a comprehensive sense, but just remember to distinguish fact from opinion.

A general rule is that there is opportunity in every market, and more so when times are tough.

Regards,

Steve McKnight

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

Hi Olivereindeer (nice alias!),

I agree with Westan, since, from my experience it is better to solve a prior spending problem than it is to seek more money.

Having said that, books such as ‘The Richest Man in Babylon’ (which are a great read) suggest that you should pay off your debts at the same time as building your wealth.

To answer your…[Read more]

Hi,

There are two options to investigate about general demographics.

1. http://www.homepriceguide.com.au/index.cfm
2. http://reareports.realestate.com.au/

For vacancy rates, and a range of other reports, go to:

http://www.reia.com.au/market_reports/research.asp

Regards,

Steve McKnight

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

Hi Salla,

Welcome to the forum and thanks for your post.

You ask a question that must be near the front of every homeowner’s mind – namely, what to do with an asset that might be earning equity but which is not performing from a cashflow perspective.

Furthermore, approaching retirement, you no doubt sense that equity is not as ‘useful’ to fund…[Read more]

Hi,

Following on from my initial post, I have decided to come back and write a more comprehensive answer.

Property Trusts

The first point to note here is the accounting structure mentioned, i.e. a trust.

A trust is a legal structure that exists where ownership is separate from entitlement. For example, in a trust the assets are administered…[Read more]

Hi,

Thanks for your post.

The typical profile of a +ve cashflow house is one that presents with problems, as it is by solving these problems that enables you to ‘make’ a profit by adding more in perceived value than actual cost.

As for land tax – it is a cost of business as such and needs to be factored in. It can be minimised in many ways,…[Read more]

Hi Waz11,

Thanks for your post.

I’m a little confused as to what you want more information on…

Is it:

1. A general property trust that is run commercially (i.e. accepts investments from the general public); or

2. A property trust that specifically invests in commercial property.

Operating through a turst is nothing unusual by itself. If…[Read more]

Hi,

Yack – I started in 1999 mate, not 1997.

In any event, why am I selling some properties? Because I can make more money elsewhere on a comparable basis to the ‘real’ return on my money (allowing for the equity tied up in the asset).

My opinion is that the market is poised to redistribute wealth away from those who rely on chance to make a…[Read more]

Hi,

Sorry – didn’t know that Jo was also posting so apologies for the repeating…

If that is your strategy then keep going, and learning, as experience is the best teacher.

Just two points to note:

1. Be sure to add more in perceived value than actual cost. Sometimes the line can be blury, but if you lose perspective then it’s easy to lose…[Read more]

Hi,

Buying a shelf-entity can save a lot of time and money, but be sure to shop around as:

* not all legal documents are the same.
* the price is competitive

In particular, if you have unique requirements then I’d suggest paying extra and getting something tailored.

Regards,

Steve McKnight

P.S. If you’re interested, we use Shelcom in our…[Read more]

Hi Sarah,

Thanks for your post and welcome to the website!

You have an interesting problem, but don’t forget that you can apply for exemption to the rules (not sure what chance you would have…)

Otherwise, I suggest checking out the weekend property section to the West Australian as when I last thumbed it through it was chockers with ads from…[Read more]

Hi,

Interesting post.

Does the lender know you have purchased all these properties? If so then I’d provide them a summary of each loan and how it relates back to the enquiry.

Sometimes it pays to make the first move – it’s called attacking the fatal flaw well before it even becomes a problem.

If they don’t know about the other properties and…[Read more]