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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 immediate reaction to Leigh’s question was that it was a bad idea.
The only way that I would consider doing something like this is in the full daylight of complete disclosure to the bank.
It’s a tricky issue. But I think there is a difference between answering questions and deliberately creating a situation with no other intention other than to gain a financial advantage.
As for would a bank go for it? The valuer having already provided opinion might not count for much as in my experience banks take the lower of valuation and purchase price. Still, it’s worth a try [
]I think the idea of rebating closing costs sounds promising, so long as it was included in the contract.
The bottom line is that sales incentives can be created, but if you are doing it to deceive (as opposed to fully disclosing) then you are in dangerous territory.
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
Hmmmm,
Is this being a bit cheeky? [
]Written on the Masters Tapes as clear as day are the words ‘Not For Resale’, which IMHO also includes bartering on a non-cash swap.
In the end I can’t nor will I police it, but this seems like scarcity rather than abundance to me.
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
You are as naive as the rest of the people in this forum.This insult to the forum is not justified and is out of order. [
!]If you do not concur with the posts then you have every right to disagree in a constructive manner. But no name calling or mud slinging is allowed.
I wouldn’t consider a $30,000 property renting at $100 per week a dud. Even if interest rates went up 2% it will be +ve cashflow.
I once went around telling people that you’ll never get capital growth in the country. How wrong was I!
Then I actually started investing (rather than telling people how to invest) and low and behold, my cheap country properties that I bought for $44,000 are now worth $80,000+.
Everyone, including Kerry Packer, needs to start somewhere. Sure, Australia’s richest man can afford to buy mansions, but this would be a terrible place for a beginning investor to begin.
When the market begins to soften, the worst hit will be the higher priced property – both from a tenant and a cap. growth perspective.
It is wise to buy a quality property but price alone make it a dud or a palace.
Finally, those with alternate views… let’s hear them! If there is a better strategy out there then share the word.
It’s easier to rip down than it is to build.
Bye
Steve McKnight
P.S. For what it’s worth, my empire is built on the basis of buying positive cashflow property to the extent of building sufficient passive income to achieve financial freedom. I’ve bought cheap properties, which is all I could afford at the beginning, and I’m yet to ever lose money. I can testify that this is an effective strategy with more experience in the trenches than the vast majority of property investors.
It is OK to be sceptical, but if you close your mind to opportunities then you are the poorer for it.
**********
Remember that success comes from doing things differently.
**********
Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
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