Forum Replies Created
Hi,
Welcome to the forum.
Change location and / or the type of properties you are buying.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
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
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
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
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
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 regards,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
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 for release on 27/9/04.
Bye,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
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
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
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, then what does it matter whether it is +ve or -ve cashflow so long as it helps achieve the said plan in the first place?
However, in my case (i.e. my plan and my goals), I favoured +ve cashflow because I wanted the income first to replace my salary.
The only problem I see is when people misapply a so-called wealth creation plan (tax savings) rather than looking to make money.
Ultimately we all need to be guided by our differing goals which is why i don’t think it is accurate to say that one is better or worse than the other.
Hope this helps and was worth the wait.
Bye,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi,
Yep – full details in the book – however I did mention it also in the August newsletter.
Bye,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
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 options at: https://www.propertyinvesting.com/strategies/lease-options.html
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
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 uncertain times ahead for all property investors who now need to acquire new skills in order to profit from the upcoming opportunities.$1,000,000 in Property in One Year takes the theory outlined in his first book and applies it to the latest ‘soft’ market conditions. As such it stands alone as an excellent resource that is relevant for both new investors and also those wanting to climb to new heights.
The title for this book is derived from the Millionaire Apprentice Program (‘M.A.P.’) – a private mentoring project author Steve McKnight ran for a small group of investors which began in August 2003 and finished a year later.
Coming from a diverse background with varying degrees of experience, the M.A.P participants (‘MAPPERS’) were put through an intensive training regimen with the goal of acquiring a (gross) million dollar property portfolio in 12 months. Not just any property would do though – it had to be purchased according to a plan for it to make money immediately.
Without wanting to spoil the ending, a significant number of MAPPERS managed to achieve the stated goal despite the deteriorating investing climate, proving that the right person with the right training and investing system can achieve massive results in a short amount of time even when the odds are stacked against them.
Steve’s goal in writing this book is to leave the reader with three things:
1. A comprehensive understanding of how to make positive cash flow profits
2. The practical context in which to apply the theory so you can find and profit from deals in any market anywhere in the world
3. The motivation to attempt something new.
Release Date: 4 October 2004
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
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 6:10Note it is the love of money rather than money by itself.
While we’re on the topic, here’s something else to consider:
Whoever loves money never has money enough; whoever loves wealth is never satisfied with his income. This too is meaningless.
– Ecclesiastes 5:10Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
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 – I’m confused!
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
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 accounting purposes but not for tax purposes. Also, sometimes the ATO allows adavnced depreciation (such as a 100% writeoff for low cost items), where as this is generally not allowed for accounting purposes.
I’ll grant you that it’s a little murky, but that’s they way things are!
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
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 better than the other. They are in fact different, and it’s that way on purpose.
Regards,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
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)]
Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
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 taxable income back to accounting profit.
Just something else to bear in mind.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
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 both.
Other forums (US based though) include:
http://www.creonline.com
http://www.richdad.com (kiyosaki)Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
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 based on unrealistic assumptions, to be too arbitrary for my liking.
Nevertheless, I was not talking about market makers, which IMHO includes land wholesales (like the ones you mentioned). These guys are a force unto themselves due to their economies of scale (i.e. buying power).
The point I was trying to make is a lot more micro in application. That is, at an individual investor lever we remain in control of our buying and selling decision yet not all of us are active in exercising our ability to make a decision. Therefore, those who are passive are forced to react to the market while those who are active can position themselves to maximise gains and minimise losses.
As for your opinion about my direction… *Sigh* I write a free newsletter which I hope is informative, yet really exists to get members thinking by being both topical and relevant.
If it is not meeting with your requirements or interest then I’m sorry but I do the best I can with the available time.
Finally, it was a pleasure to help you Diane – thanks for asking your question in the first place.
Regards,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
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.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess 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.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
