Forum Replies Created
Hi,
Good point about the refund policy. I’ve asked Alister to look into it, but the 14 day part is hard coded onto all products in the shop area and we need to change this asap.
The ‘No Hard Feelings’ refund applies.
Re: the product, it is a lot more than just a wrap product as it explains the way we automate our entire property business. Having said that – I don’t want everyone to buy it as it is a niche product for a niche market.
For those that want to do it right, it’s worth the investment.
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,
Welcome to the forums. It would be great if you could contribute your experience and knowledge as I’m sure you have plenty to share!
To answer your two questions:
Q1: Re: Socio-economic profile.
I doubt anyone can give you a definitive answer although I’m sure many people have an opinion.
It is true that some wrappers target those who desire the dream of home ownership but don’t necessarily have the financial ability to understand the nature or obligation of the agreement.
Yet, having said that, the target market for vendor finance are those that cannot access traditional finance. That is NOT to say that it is the financially desperate who are the bread and butter of wrappers. Far from it as someone who cannot afford to make repayments can provide no positive cashflow.
Further, you need to understand why it is that those from a low socio-economic profile that cannot secure finance. Usually it’s because they cannot save the 20%+ deposit in the first place, and as such, vendor financing is seen as a low cost way to get into a house on a form of bridging finance until they can cash out using cheaper finance.
The key to win-win vendor financing is finding people, from whatever sociio-economic profile, who can afford the repayments and understand the nature of the agreement.
Recent vendor finance deals we have done have not involved people from low socio-economic profiles.
Q2. Affordability
You are right. Prices have boomed and the wrap deals that I did at the start on the basis of repayment equal to or lower than rent are very difficult to find now.
As such, the equation has changed so that even more people are priced out of owing a home. This is the exact problem that the producivity commission into housing affordablity is looking at.
People and properties suitable for vendoring financing continue to exist today. Yet matching them together so that all parties benefit requires increasing skill – and plenty of hard work.
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
Indeed – the same could be said for vendor financing.
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,
Like everything, wraps included, you need to weigh up the risk vs. benefit.
It seems this is a higher-risk strategy that will suit people, but not all. TT ran with one perspective, but the counter argument could probably have been presented with as much enthusiasm on a different night. Who knows?
Get educated and make your own informed opinion
Have a wonderful day.
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
Indeed – money cannot buy happiness.
But it can buy back time that you’d otherwise have to allocate to working in a job.
Comfort zones are detrimential to investing progress.
Several excellent points:
Although I understand that achieving big dreams involves making big afforts sometimes; I also understand that nothing should be achieved by force.The strength to decide and fight for big objectives in life is something that must come naturally.We don’t have to do anything but to be honest with ourselves and live according to what we really are and not to what anyone tells us we should do or be.Thanks for the contribution!
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,
Thanks for the responses so far. I’m delighted you enjoy the newsletters and hope that they prompt thinking through some of the important questions that need to be considered to be a property investing success.
Yes, I agree that purpose should actually come before plan.
Yack – I don’t always agree with what you say, but I’m certainly appreciative of your contributions that make this forum balanced and informed.
Take it easy!
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 pay 0% CGT as there is no CGT to pay!
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
…you’ll then be paying 100% CGT?No. You actually pay 0% CGT [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
Hi,
When you understand the tax consequences it’s not so bad.
CGT should almost never have been relevant for wraps as the 50% discount only applies if you owned the property for more than 12 months.
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
Go Rachelle!
Next you’ll be doing seminars [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
Fair comment, which is why the post has been removed.
Apologies that it took a few days to get to it.
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 firewall I use at home is Sygate Professional… I find it very good and it’s free (for home use) from http://www.tucows.com/
Do a search on firewalls and I think it is a few pages in.
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 Jay,
The policy is this way as a previously more liberal approach was blatantly abused.
We feel this is fair. It gives the participant a chance to see what’s on offer and also sets a deadline for making a decision.
As for comments by others – if you feel the cost is too high then it’s simple… don’t come.
Have a great day.
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,
I’ve been to one of Ron’s seminars in the States and it was quite good.
Be careful though, as he has been marketing seminars where a representative of his speaks rather than the genuine article himself.
Oh, and expect plenty of sales pitch.
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, my recollection was that stamp on all property purchases was going to be done away with once GST came in.
Oh well, a part concession 4 years down the track is better than a kick in the pants.
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,
It’s very simple… focus on the cash and not the profit.
As an investor I want to know how much in for how much back. ROI is based on profit which can be manipulated, cashflow is cashflow.
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
Those that can do,
Those that can’t gossip.I’ve always said that I’ll be happy to be judged by the result of the MAP. Remember, we’re half way through so I encourage all (good and bad) to reserve final judgement until the end.
Still, I’ll write about the MAP in the next newsletter as this seems to be a hot topic of discussion.
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 a point on this equity issue.
Remember that I advocate +ve cashflow investing, so I prize cashflow much more than equity (which is usually a factor of capital growth).
The short answer though is no, there is no $1m in equity… but there is enough cashflow for people to begin to get a taste for financial freedom.
Rachelle found the deal simply by looking… no smoke or mirrors. Oh, and she negotiated a killer deal too.
See ya,
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
Featuring…
Del
John D.
Rachelle
Graham and AlannaAll budding movie stars.
Good Luck!
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,
Interesting post.
I think the best place would be the public library.
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
