Hi,

Better still, the price you negotiate today is what you buy in five years. The extra value, equity, is yours on top of it all. While you are living in the house, any renovations and improvements further add to the equity over the five years.

Yep, good pick up Ms. Henry [smiling]… seems like a lease option.

Find out more about lease…[Read more]

Hi Dan,

This is what Wright Books have published on their site:

This follow up to the best-selling book From 0 to 130 Properties in 3.5 Years, which sold over 80,000 copies, arrives in a dramatically different marketplace. Interest rates are up, auction clearance rates are down, and the papers are full of headlines about the likelihood of…[Read more]

Hi Dan,

This is what Wright Books have published on their site:

This follow up to the best-selling book From 0 to 130 Properties in 3.5 Years, which sold over 80,000 copies, arrives in a dramatically different marketplace. Interest rates are up, auction clearance rates are down, and the papers are full of headlines about the likelihood of…[Read more]

Hi,

Sorry to hear about the mishap.

Just a heads up on the topic though… the phrase actually comes from scripture. The full reference is:

For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs.
– 1 Timothy 6:10

Note it is the love of money…[Read more]

Hi,

Hmmm – not sure what you mean mate.

If you are the owner of the property then I can’t see how you can claim the deduction in the hands of your parents?!?

Possibly you are talking about a trust where you have claimed the deduction and then distributed the surplus trust funds to your parents?

Or do your parents do the bookkeeping?

Sorry -…[Read more]

Hi Mel,

It’s accoutning talk mate.

Just that the amount of depreciation as shown for accounting purposes (i.e. financial statements) is not necessarily the same as what is an allowable deduction for tax purposes (i.e. tax return).

The reason for this is because of different rates being used.

For example, buildings are depreciated for…[Read more]

Well,

To add some balance, I generally find the posts at Somersoft to be the other way – too much opinion and not enough guts.

Hence my comment about Ford vs. Holden.

As for my call to you Acey – do you not remember that was for making ill-informed posts on the Somersoft forum? My point in case.

Please – enough discussion about one being…[Read more]

Point taken, but it IS nice to have the people who wrote the software we use for our forum tell us they think we did a great job.

I’ll take my cardigan off now [:o)]

Hi,

Great discussion.

May I just add that the amount of depreciation for accounting purposes (matching expense with income) is rarely the same as the amount of depreciation that can be claimed as a tax deduction (using rates as set out by the ATO).

Any difference is reconciled through the ‘tax reconciliation’, which is a document that equates…[Read more]

Hi,

I was there at the start of John Burley’s discussion forum but lost interest after a disagreement re: editorial of the site.

Re: Somersoft – I think that it’s a good discussion forum in many ways. I regard the relationship between us and them as a bit of a Holden v. Ford argument. Some like one, some like the other, but the industry needs…[Read more]

Anubis,

Hmmm – from reading your reply it seems that you may have missed the point of the newsletter, especially considering you mention something I didn’t even talk about (i.e. ‘buy low and sell high’).

It was not an attempt at economics 101, nor is the name of the terminology the critical issue. Indeed, I regard theory alone, which is often…[Read more]

Hi,

Nice timing!

I’ve just finished the first draft of the manuscript however we need to wait for the MAP to finish in order to obtain the final tally of property purchased and profits made.

It’s due to be released in early October.

Cheers,

Steve McKnight

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

Hi,

+ve cashflow remains the cornerstone of my wealth creation as I only invest in things that make money.

Good night,

Steve McKnight

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

Hi,

Just quickly… the 11 Sec solution is not redundent as such.

It remains the basis of my investing approach, yet times have changed as as such the application of the theory must change too.

The revised formula that I work on does not focus solely on yield (as does the 11 Sec), but on the way that annual rent AND rental yield impact the…[Read more]

Sorry Helen,

I’m under huge strain to meet my book deadline. I’ll have to get back to you later in the month or early August.

Steve McKnight

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

Hi Hector,

Thanks for your post and welcome to the community.

[8D]

OK – I’d use the deals that you find as a way to crunch the mnumbers so you become familiar with how to put a deal together and how one propety can return more or less than another by adding on an extra bedroom.

Just play around be be wary as the ‘net is a big time…[Read more]

Hi Mike,

Congrats – you win!

I’ll get Brent to contact you on Monday.

Cheers and thanks,

Steve McKnight

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

time is running out…

Hi,

Look for problems to solve as that is how you make postive cashflow outcomes.

Bye,

Steve McKnight

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

Hi,

All I know is that cleaning up an old site can be very expensive and time consuming. The petrol seeps from the tanks and contaminates the soil and ground water… very costly to fix.

Also, in recent times there has been very little margin in petrol. I suspect that there is much higher margin selling the chips and coke than there is in…[Read more]