Hi,

While I’m no legal expert… solicitors for all parties would meet in a room and shuffle paper.

I’d imagine that your purchase is settled first (i.e. necessary docs executed), and then once this happens then the legals over your sale are handled.

Really though, it’s just a matter of due process that is all handled by your legal…[Read more]

Hi,

Hmmm – a simple question with a complicated answer. While a full outline of the suggested tax treatment of a wrap is outlined in The Wrap Kit, here’s a quick summary…

1. It is the contract price margin that is taxed rather than the deposit as such.

2. The contract price margin is then taxed on the basis that your bring the income to…[Read more]

Hi Brenda,

Great achievements don’t come by accident. Well done on your vision and follow through!

Next, if you so choose, it will be time to transform the act of investing into the business of investing and this comes from further leveraging time and money.

Congrats.

Steve McKnight

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

Hi,

I’d gladly pay $5k for a property with positive cashflow meeting my requirements.

I guess value is in the eyes of the beholding investor!

Due your research but expect to pay if you don’t have the time to find deals for yourself.

Regards,

Steve McKnight

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Remember that success comes from doing things differently.
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Hi,

Interesting plan, but remember that stamp duty and other costs (such as legals etc.) may cancel out some of your projected gains. As such, be sure to do your sums carefully.

Furthermore, it would be wise to include the -ve cashflow (if any) associated with you living in the property for six months when weighing up the cost:benefit. My gut…[Read more]

Hey Kay,

1 sec solution – lol [happy]

I think Bigboof’s question is a little different… it’s how to you figure out the rent base if it is not currently rented.

Anyway, I suggest look at what similar properties go for in the local paper.

In particular, watch out for agent’s assessments based on ‘likely rent’, as these, in my experience, have…[Read more]

Hi,

Just back after some extended time away writing book #2.

1. Is RG Allen a man to be trusted or is Neil Jenman right?

Trusted… hmmm… trust needs to be earned on a person by person basis. Still, in my case, I’d say it has been as his Bob Allen’s investing strategies have made me a lot of money. His marketing techniques may seem strange…[Read more]

Hi,

Terry Ryder has a new book out about selling property without agents. Check it out next time you’re in a bookstore.

Bye,

Steve McKnight

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Remember that success comes from doing things differently.
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Hi,

Hmmm – sometimes I feel that the forum goes haywire and that’s when I retreat for a while. Then I regain enthusiasm and return full of beans.

The moderators do an exceptional job and I am in their debt for their time and willingness. Sure – things could always be better, but in this case the harvest is plentiful but the labourers are…[Read more]

Hi Luke,

The issue comes from real estate agent laws that impose regulations on selling property that you don’t own. It’s a grey area and one that needs further attention as part of the legal due diligence of the strategy you are adopting.

For example – Vic law (see: useful national r/e laws link)

ESTATE AGENTS ACT 1980 – SECT 12 PART III…[Read more]

Hi,

Credit where credit is due… Kiyosaki’s book turned the lights on for me and although simplistic in places – it’s that easy to read or perhaps commonsense tone that makes the book stand out.

These days it’s about $20 or so bucks, and at that price it would be very hard to go wrong!

Finally, you can read a large discussion about books by…[Read more]

What can I say?

It may have been a simple answer, but it’s the best one I’ve got.

When prices in one area get too high, move to another.

For example, DB and I moved from Ballarat to the La Trobe Valley, then to Tassie etc. etc. as prices increased.

When one class of property stops working, change to another.

For example, DB and I have moved…[Read more]

Hi,

Welcome to the forum.

Change location and / or the type of properties you are buying.

Cheers,

Steve McKnight

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Remember that success comes from doing things differently.
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Hi,

Well, all I can say is sorry for the glitch.

I am currently looking to try to help all those who missed out (and are on the waiting list) by running an alternate event on a similar basis.

Stay tuned for more information…

Bye,

Steve McKnight

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Remember that success comes from doing things differently.
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Hey mate,

Shhhh… secret squirrel [wink4]

Seriously, glad you liked the look of it. It’s now due for release on 27/9 – two weeks tomorrow.

Bye,

Steve McKnight

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Remember that success comes from doing things differently.
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Hi from sunny Perth [biggrin]

I just checked with out web expert and something unusual happened with the registration process. It is now up and running again.

Sorry for any inconvenience.

Note that you may be placed on a waiting list should the seats sell out (ticket numbers are allocated on a first-come-first-serve basis).

Warm…[Read more]

Hi,

Great effort on finishing the book – especially if you’re not usually a bookworm.

Not even Steve goes by it anymore – he has a new equation that supersedes the 11 sec equation.

Actually… I still DO use it, however have gone a few steps further in my analysis too.

Just wait a few more weeks and all will be revealed in Book #2… now due…[Read more]

Hi,

Just letting you know that the book went to print today and will be available from bookstores in the last week in September.

All in all I think it’s come together well, but I’ll leave final judgement up to you.

Bye,

Steve McKnight

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Remember that success comes from doing things differently.
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Hi,

Actually – I have just arrived back on the mainland after a holiday on Brampton Island.

The second book actually went to print today and is due for release in late September.

Now – as for my view… it’s relatively simple… so long as the investor has a wealth creation plan, and that WC plan calls for buying a certain type of property,…[Read more]

Hi,

Yep – full details in the book – however I did mention it also in the August newsletter.

Bye,

Steve McKnight

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Remember that success comes from doing things differently.
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