Forum Replies Created
OK
This topic seems to have gone a little left of centre.
It’s time to move on.
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
Bec,
Whatever…
Go on believeing what you will – I’ll worry about the business of helping people create wealth.
Have a nice day.
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,
Since everything that I say on this topic seems to be misquoted and taken out of context, the only comments I have to make are:
1. 4 people in the MAP have acquired more than $1m in r/e in well under a year. This was mentioned to MediaWatch, but they decided not to use it because it blows their argument out of the water. Others in the MAP, with less real estate, have nevertheless substantial profits.
2. The three people selected by TT as part of their ‘Millionaire Challenge’ (their title, not mine) are entitled to the following:
A. Online mentoring for a year
B. A ticket to one of my seminars
C. A selection of products that I have writtenThey are in fact NOT part of the MAP!
3. Due to personal circumstance, the TT online mentoring began in late Jan 03, and given Media Watch rang up at the start of March – that’s why not much had happened to date on that front.
4. Media Watch told half truths and then pick and chose their way through the answers to mount an argument that was high on hype and low on substance. But why let the truth get in the way of a good story? Hypocrites!
5. I’m now writing my second book that takes the story of the MAP and presents it in its full, warts and all, glory. It is due for release later this year.
Bye,
Steve McKnight
P.S. No pills for you!
**********
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,
Two things for you to consider:
1. If you don’t have money then look for someone who does!
2. There are many ways to buy a property and leave little money in the deal. Check out this link: https://www.propertyinvesting.com/strategies/creativefinancing.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,
FHOG & Aussie Property
As per Chans post, it seems that the only property that knocks out eligibility for the FHOG is Aussie Property.
A person is not eligible if they or their spouse (including de facto spouse) has had a relevant interest in any residential property in Australia (emphasis added) prior to 1 July 2000, whether they live in it or not.Re: stamp duty in NSW
Reviewing this document , is seems that owing offshore property does not imact your eligibility for stamp duty exemptions / concessions under the First Home Plus scheme.
From the NSW mini-budget:
Today I am pleased and proud to announce that the Carr Government will abolish stamp duty completely for almost all first homebuyers.There will be a complete exemption for homes costing up to $500,000, with the concession phasing out between $500,000 and $600,000.
So, it seems the landscape may be changing, so be sure to stay alert to changes as they happen.
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,
Rick Otton was selling them a while back… 1300 888 450
Tell ’em Steve McKnight sent you [wink]
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
I can’t help but strongly disagree.
We are taxed to the absolute hilt in this country – and one of the platforms with the introduction of GST was that stamp duty was going to be phased out.
Not only is this not the case, now we have a situation where a new tax will be introduced when a property has been sold.
And this particular tax, one on the sale of property, is fundamentally wrong in every way. What happens in a situation where a property keeps pace with inflation, say over 5 years, and then is sold? It will exceed the threshold and be taxed, yet no real gain will have been made.
Further, if one investment property is sold to another investor, then:
Investor A pays stamp duty on the way in
Investor A pays stamp duty on the way out
Investor B pays stamp duty on the way in, on a property that is being already taxed on the way outThis is like GST without any input credit!
No, I’m all for equality across the community and those well for help those who are not – but I can’t abide by this crazy nonsense of taxing people more to hide the chronic inability of governments to govern.
The property investors of NSW need to take a stance and say enough is enough.
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 can think of two options:
1. Call in and pick one up from the office. We’ll be open until 5pm but call first 03 9897 1477
2. We could try and courier one out to you… again, call the office to see what can be done.
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,
My understanding is that so long as your are not charging a commission for the sale (only a fee for research and passing on information as it were), or acting as an agent for the sale (ie. instructed by the vendor to find a buyer), then you should be OK.
Would be wise to obtain proper advice though.
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,
What this may mean is that investors will be inclined to refinance rather than sell, since that way profits can be accessed without the payment of stamp duty.
This may be OK for some, but if the additional borrowing is used for paying lifestyle expenses then it is a recipe for absolute financial carnage (as a result of the tax implications)!
Further, more debt means more risk.
In a boom market the government’s policy shift could be passed off as a speed bump and may even cause prices may rise (supply shortfall as investors refinance rather than sell).
However, in the current environment where the headlines are already doom and gloom, this sort of policy may be the tree trunk that snaps the property camel’s back.
Time will tell. Maybe commonsense will prevail.
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 Tim,
Welcome to the forums mate. Glad you enjoyed the book.
Surely this can only lead to disaster for NSW property investing. Investors will simply head for other states where the laws aren’t so draconian.
Someone with some sense needs to sit down with the Carr government (and all others for that matter) and outline that the way forward is not to tax more but run an efficient government.
Once upon a time it required skill to govern, nowdays policitcal inefficiencies are covered up by higher taxes.
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,
Just because I own this site doesn’t mean I should be immune from questioning and review.
To that extent, questioning intent is fine, but the inference that some sort of scam is/has taken place is my point of objection.
Defamatory comments, against me or anyone else, have no place on this forum.
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,
Your point about making the post a sticky is well made and I have added that change.
FYI, the ability to make posts sticky only came into existence about a month ago.
Re: stars. Perhaps, to reduce any confusion, we’ll rename the ‘status’ to more directly reflect number of posts.
Personally, I like the starts etc. as I can check whether someone has flown in, or whether someone is actually part of the community and posts on a regular basis.
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
Originally posted by CastleDreamer:…Of course people will question Steve’s claims, but at the very least they should question the actual claim, not the perceived claims or the partially correct recollection of the claim. Then at least we’ll all be on a level playing field and looking at the same thing to judge it fairly
Here here. That’s all I’m asking!
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 Kay,
No, I’m ALL for questioning things to make sure they are as they seem.
And to be fair, The MAP was broadcast to the public and as such the public have a right to know how it ends up.
So,let’s wait and see what happens prior to sending someone’s reputation to the gas chamber without all the facts.
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
In response to Kay’s comment:
I remember when the MAP stuff was first shown. The idea was to make “property millionaires” in 1 year. That was then changed some months later to “controlling 1 million of property”- a VERY different concept.Factually incorrect. From the Media Watch site which is a direct quote from the story:
Steve McKnight: The objective of the MAP is to control a million dollars worth of real estate within 12 months.
– Channel 7, Today Tonight, 8 September 2003This was, in fact, the first story about the MAP.
What usually happens after these media stories, is that the blame is attributed- false quotes (emphasis added by Steve), not what it seems etc etc.Hmmm – it seems you are guilty of the same sin.
The MAP is what it was at the beginning, what it is now, and how it will finish up. Nothing else, nothing more, and nothing sinister. Ordinary people working hard to achieve a goal with mentoring help from me as needs be.
When the story first came out, Steve surely would have asked TT to clarify about “controlling” wouldn;t he?Indeed he would… see the quote earlier where I stated the objective of The MAP.
We have also had discussions on here about what that means- it means “net 1 million of property”, NOT controlling one million.Er, incorrect again. This, I presume was your definition. Who’s we?
Who’s responsible for the “created impression” that “ordinary Australians”, in any circumstances of life, could become property milloinaires in 1 year?Well, with the exception of the ‘in any circumstances of life’, and on the basis that ‘property millionaire’ means someone who controls $1m in property, I don’t think that this is beyond the realms of possibility.
In fact, 4 people in the MAP have already achieved this goal (ie. acquired $1m in property in less than 12 months), it seems perfectly possible.
Still, a lesson I have learned from The MAP is that it is a possiblity open to all, but not all are open to the possibility.
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 before this gets too out of hand, there’s more to the story than the people at Media Watch would have you believe.
I urge you to wait for The MAP to be completed in September 2004 before casting your vote. Until then, guessing what might happen is like estimating tomorrow’s top tempreture – it’s mostly speculation and no one will know for sure until tomorrow has come and gone.
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,
A transcript of the interview can be found at: http://sixtyminutes.ninemsn.com.au/sixtyminutes/stories/2004_04_04/story_1076.asp
Investing is a matter of matching risk with return.
It is also a matter of acquiring knowledge via a process called due diligence. Ultimately, if you don’t understand the nature of the investment then there’s a good chance that you’ll lose money.
I don’t accept that it is the bank’s responsibility to advise clients about the mertis of an investment as to do so would constitute advice, which opens a huge can of worms.
Yet, having said that, a lender is under an obligation to outline where the loan funds are being provided against what security and in what proportion. I’m very surprised that this was not done, since in the nitty gritty of the paperwork surely this would have been disclosed?!?
In the end it’s the same advice… beware investing outside your area of expertise and remember that there’s no such thing as a free seminar… someone pays somewhere down the line.
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,
The idea behind the stars is to encourage people to particpate through discussion. It is not an indication (necessarily) of skill or property investing ability.
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 have seen Rick’s product, which is how I picked up that he had copied one of my templates and passed it off as his own. I was unaware that Jamie Mc. had anything that covered wraps.
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
