[Steve McKnightKeymaster@stevemcknightJoin Date: 2001Post Count: 1,763]

February 22, 2004 - 11:20 pm

Hi Dave,

The idea is to use part of your profits to pay for someone to do the work for you.

Cheers,

Steve McKnight

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[Steve McKnightKeymaster@stevemcknightJoin Date: 2001Post Count: 1,763]

February 22, 2004 - 12:15 am

Hi Jules,

Sorry about the delay in replying… I have been very busy putting the finishing touches on the revised wrap kit.

Anyway, although the seminar is now sold out, it is designed to be the practical application of the theory outlined in the book.

As for the post about the seminar, see https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=7423

Cheers,

Steve McKnight

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Remember that success comes from doing things differently.
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Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
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Success comes from doing things differently

[Steve McKnightKeymaster@stevemcknightJoin Date: 2001Post Count: 1,763]

February 18, 2004 - 12:18 pm

[:p]

Thanks guys!

Steve McKnight

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Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
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[Steve McKnightKeymaster@stevemcknightJoin Date: 2001Post Count: 1,763]

February 18, 2004 - 11:01 am

Hi,

Re: 11 Sec Solution… see https://www.propertyinvesting.com/11secondsolution.html

Bye,

Steve McKnight

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

Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
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[Steve McKnightKeymaster@stevemcknightJoin Date: 2001Post Count: 1,763]

February 18, 2004 - 10:59 am

Hi,

If you’re into renos then go for it. If I had the time and inclination to hop on a plane… and could handle the a dose of Paul and Geoff for multiple days – then I’d go too.

It’s sure to be practical.

Bye,

Steve McKnight

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Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
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[Steve McKnightKeymaster@stevemcknightJoin Date: 2001Post Count: 1,763]

February 18, 2004 - 10:55 am

Hi Melbear,

Cough, splutter…

I never got the impression that Hans owned a whole stack of property, but I may be wrong.

The question I’d be asking is: How much of it is first hand experience and how much of it is theory learned from others?

$500 bucks for a coffee sounds a bit steep.

Bye,

Steve McKnight

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Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
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[Steve McKnightKeymaster@stevemcknightJoin Date: 2001Post Count: 1,763]

February 18, 2004 - 10:53 am

Hi,

that way, you won’t be feeding dodgy author’s coffers.

That would have to be one of the tightest comments I have ever read. I make less in a royalty per book sold than the government makes in GST.

Another example of scarcity thinking that keeps people poor.

If you pay peanuts then you’ll attract monkeys.

Over and out!

Steve McKnight

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Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
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[Steve McKnightKeymaster@stevemcknightJoin Date: 2001Post Count: 1,763]

February 18, 2004 - 10:50 am

Hi,

I’ll go in to bat for Geoff.

He’s a nice, down to earth guy with broad experience and very useful ideas.

Buy his book and if you’re into renos, go to his seminar too.

Bye,

Steve McKnight

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Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
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[Steve McKnightKeymaster@stevemcknightJoin Date: 2001Post Count: 1,763]

February 18, 2004 - 10:48 am

Wow,

Hans has come a long way in a few years… I met him a while ago when he had a $30 book.

He’s a nice guy, but I don’t know how much experience he’s had buying property… so I’d want to have that question answered before I forked out $3,000 big ones.

Cheers,

Steve McKnight

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

Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
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Success comes from doing things differently

[Steve McKnightKeymaster@stevemcknightJoin Date: 2001Post Count: 1,763]

February 18, 2004 - 10:23 am

Hi,

The only type of rent assistance I know is paid through Centerlink. Click here to go to the Centrelink page to find out more.

Having said that, a call to Centrelink to confirm the available entitlement beyond rent assistance would be wise.

Bye,

Steve McKnight

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[Steve McKnightKeymaster@stevemcknightJoin Date: 2001Post Count: 1,763]

February 18, 2004 - 10:19 am

Hi,

It might catch up – and population is one thing, but infrastructure growth and jobs are also needed.

Also, perhaps contraversially, aren’t people from Qld also generally paid less than Sydney and Melbourne? That might impact affordability.

I’d say outperform S & M in % growth terms, but I don’t know about catch up.

Cheers,

Steve McKnight

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Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
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[Steve McKnightKeymaster@stevemcknightJoin Date: 2001Post Count: 1,763]

February 18, 2004 - 10:09 am

Hi and welcome to the forum!

Advice:

Knowledge + Action = Success

and

There’s no better time than now to get started.

Cheers,

Steve McKnight

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

Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
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Success comes from doing things differently

[Steve McKnightKeymaster@stevemcknightJoin Date: 2001Post Count: 1,763]

February 18, 2004 - 4:37 am

Hi Shirley,

Great Post!

The first thing I’d say is that your life insurance may be more tax effective if you organise it through your superannuation fund due to some tax perks.

As for life insurance generally, you need to have a look at the risk that you want to insure against. For most people, life insurance is about insuring against lost income in the event of death.

Additionally, there is also coverage needed to pay out debts should your capacity to earn become impaired.

If you only need the latter then you may get away with a mortgage protection policy, which I assume would be deductible if the property was bought for investment purposes.

You raise a great point though, and it is a matter that is overlooked by the majority of investors.

I’d be interested to read the thought process behind your final decision.

Cheers,

Steve McKnight

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Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
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[Steve McKnightKeymaster@stevemcknightJoin Date: 2001Post Count: 1,763]

February 15, 2004 - 9:33 am

Hi,

Legally you are somewhat in no mans territory as you will need a tribunal order to evict the tenants and in the meantime you rely on their good grace to move on.

Indeed, as the lease is technically still continuing, you have no grounds to knock on the door etc. and if you do so then you risk a fine.

Still, what I’d do is to provide the necessary 24 hours notice to inspect the property, and when you do, speak with the tenants direct and offer them cash to move out asap.

As for recovering damages etc. your best angle is through the r/e agency who left you dangling. They shouldn’t have refunded the bond in the first place, so if you want to take it further, go to the r/e agent’s body in SA.

I have a gut feeling though that in this case the outcome will be that this whole experience will be a lesson about the importance of due diligence.

Sorry I don’t have better news. Let me know how you get on.

Bye,

Steve McKnight

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Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
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Success comes from doing things differently

[Steve McKnightKeymaster@stevemcknightJoin Date: 2001Post Count: 1,763]

February 15, 2004 - 2:37 am

OK… last post in this batch!

Hi Steve,

Great to hear from you and to learn of your investing plans. What course are you studying?

1. Should I buy a PPoR, move into it with my partner and pay the thing down as quickly as possible (using FHOG), worrying about IP’s in a few years?

Well, the first thing I’d say is to avoid confusing buying a home with making an investing decision. Buying a PPoR is a lifestyle choice and is not the same as buying an investment property under commercial circumstances as the emotion is a lot higher.

FYI, what I did was to rent first to save the money to get into property with the goal of building an income for life (delaying gratification) before buying a home. You don’t have to do it this way, but it is very likely that owning a property will be much more expensive than renting and will thus impact on your ability to save.

2. Buy a PPoR and live in it for 6 months to claim FHOG, then move back home and rent out?

Hmmm – not a great idea because the stamp duty will be much more than the FHOG. It will probably also be -ve cashflow, so this may place a person in your circumstance under substantial financial pressure.

3. Buy an IP without the FHOG and rent it out immediately, staying at home until I can’t take it any more?

Well, you won’t qualify for the FHOG if the property is an IP (unless you live there first). This might be an option provided the reward from investing is more than the pain of staying at home.

Here’s another option… why not rent elsewhere with a few mates, share the burden and continue saving and then using the funds to buy a property?

Go hard and fast for a few years, and then buy a home using your profits at a later date?

Cheers,

Steve McKnight

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

Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.com

Success comes from doing things differently

[Steve McKnightKeymaster@stevemcknightJoin Date: 2001Post Count: 1,763]

February 15, 2004 - 2:27 am

Hi Pete,

No offense taken.

You make a good and accurate observation in that once a property exceeds a certain price (relative to its yield) then it will become negative cashflow due to the interest cost (on the basis of an 80% loan).

Sure, you could leave a higher deposit (thus lower interest), but that would drop your return.

So, what can we do?

Well, I don’t buy property for growth so I probably wouldn’t buy in the areas where you are looking under a B&H strategy.

However, I may decide to adopt a wrap, lease-option or reno technique (provided the circumstances were right).

Perhaps you could also look at commercial?

Cheers,

Steve McKnight

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

Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
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Success comes from doing things differently

[Steve McKnightKeymaster@stevemcknightJoin Date: 2001Post Count: 1,763]

February 15, 2004 - 2:14 am

Hi Jason,

Thanks for your post.

Re: preparing walls. Here’s a couple of useful websites I found:

http://www.apapublishing.com.au/articles/article.asp?ArticleId=417

http://www.apapublishing.com.au/articles/article.asp?ArticleId=417

In addition, I would imagine that your local Bunnings would have a Fact Sheet to help you out.

Cheers,

Steve McKnight

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Remember that success comes from doing things differently.
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Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
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Success comes from doing things differently

[Steve McKnightKeymaster@stevemcknightJoin Date: 2001Post Count: 1,763]

February 15, 2004 - 1:55 am

Hi,

Let’s not get too carried away here.

Henry Kaye offered a service to a market of hungry buyers who didn’t necessarily stop to wonder how the system worked or it’s key assumptions (i.e. continued capital growth).

In my opinion it was a big game of musical chairs in that it kept going round and round, but when the music stopped there were going to be people without a seat.

Cynically, I know people who would say that the market is pure and those that lost simply had their wealth redirected to those that won.

This seems shallow to me, but I would say that there are lessons about due diligence that every investor should learn.

I believe that the fall of HK’s NII (which has already reinvested itself through various names and a constant stream of employees) marked the end of the cycle by oviding the psychological push for people to become fearful of the potential of flat and falling property prices.

It will be interesting to see how history records th rise and fall of HK. I’m reasonably confident that it won’t be flattering.

Cheers,

Steve McKnight

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

Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.com

Success comes from doing things differently

[Steve McKnightKeymaster@stevemcknightJoin Date: 2001Post Count: 1,763]

February 11, 2004 - 2:01 am

Hi,

To be fair here – I asked Bill for his opinion which he was kind enough to provide. I believe his opinions, while perhpas different to mine, nevertheless add to the forum to create balance.

In respect to comments about Bill. Several months ago Bill had his say and now the other side has been aired as well.

I think, short of Bill having a final right of reply if he chooses, that’s enough said.

Remember that this is a forum about investing and not a spanish inquisition.

Cheers,

Steve McKnight

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Remember that success comes from doing things differently.
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Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.com

Success comes from doing things differently

[Steve McKnightKeymaster@stevemcknightJoin Date: 2001Post Count: 1,763]

February 10, 2004 - 5:12 am

Hi,

Interesting points made here.

Re: experience, if you were looking for weaknesses then the length of my time in the marketplace is certainly a point open for debate.

Moving sideways a little, two arguments that have come up recently cause me to chuckle.

The first – my success is a function of being lucky in the market. E.g. “if I had of bought when you did then I could have done it too!” In that case you have to ask – why didn’t you?

The second is – your success is because you are an accountant. Er, perhaps, but show me another accountant who has done what I’ve done and I’ll be more inclined to agree.

I may not know much, but what I do know I know well enough to profit from it.

Truth be told, you can always find a reason not to act. In relation to the seminar – it might be too expensive, or it might be too far away, or who knows how many other reasons.

But spend a moment thinking about reasons why you might come and how you might benefit from the information and the experience.

Now, did someone mention chocolate cake? I might go and find me a piece []

Bye,

Steve McKnight

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

Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.com

Success comes from doing things differently