Hi Stu

We are at the same stage as Wilandel, we have a hybrid trust which our accountant created for us and we have done our research about how to use a trust, but how do we get this unlimited finance part going.

Also is it possible for you to email a copy of your no money down article.[]

leigh_matti@optusnet.com.au

Cheers
Leigh K[]

Read, learn, grow but most of all just do it.

Hi Folks

I was pleased to see this post pop up again as I was only thinking about it last night. I wanted to reread my goals that I posted for all to see, and I must say I am happy with our progress.

Here is a quote from earlier

quote:

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OK, at the very end of the night Steve made Del (wilandel) promise to cut her hair off if she didnt make her goal. I was thinking all night what can I lose if Matt and I dont make it to our goal, so I have decided to share our goals with you up till Dec and put my reputation on the line. We are seeing a new accountant this week (Dale GG) and setting up our line of credit next week. I am going out to our target area and spending a couple of day there doing detailed research and house hunting and relationship building mid june. We will purchase a positive cashflow property and settle no later than July 31 2003. Most likely it will be buy and hold, although we are now definately open to more options. We will then proceed to purchase 2 more positive properties by Dec 31 2003, finishing the year on 4 IP’s with the one we already own. We will then review our progress in Dec and review/plan our strategy for 2004.

So there.

My fear is fear of inaction … I am going to overcome this by ‘Just doing it’.

---

Well, we did meet with Dale, and he was great, he suggested a Hybrid Trust and that he could get that going right away for us, and we coughed and spluttered a bunch of lame excuses to not do it right now, then laughed all the way home and agreed to just do it. So the Trust papers are coming to me as we type!

The LOC, I spoke to the bank and was told they will accept a formal valuation by a qualified valuer, so once the valuation has been done we will set up the LOC.

I did go to our target area last weekend and it was really worth the trip, I managed to rule out one town and include another into my search areas. My trip was mostly motivated by the fact that we did make an offer on a house and one of the conditions was that we would view it on a specific date, enabling us to hold the property off the market for two weeks. The property strategy was buy and hold but might just turn into a WRAP after speaking with the agent. He advised me of the tenants situation and they are very keen to own a house. I guess this is really what I learnt from the game … it wasn’t about buying a house and wrapping it or tenanting it then getting your card in. It was about opening up to the options available, I would be trying to wrap this deal if it hadden’t been for the game. Even if we don’t wrap we have a rental with a 9% net yeild.

It was interesting that the agent told me a couple made an offer the weekend before me which was just a tad to low, when he told then they said they had decided they would rather buy another property than get rid of the rough tenants. I asked if they talked to the tenant which I had done and found out they really did like the house and the town and wanted to own a house one day. They had not and now they miss out on a potentail easy wrap.

So my fear of inaction was really challenged as Matt is OS at the moment and I have had to do all this work on my ownsome. I feels great too.

Cheers
Leigh K

Read, learn, grow but most of all just do it.

Folks

I am in need of a realiable valuer, does anyone have a recommendation in Melbourne, Doncaster area.

Cheers
Leigh K[]

Read, learn, grow but most of all just do it.

Terry

My thoughts on this are not necessarily those of others but I think that by renting your PPOR from your Trust while it is neg is obviously a good idea, when it turns pos lets move on up rent to someone else pay tax on their money[].

But I think I opened a can of worms as this is only one thing that you can do with a Trust, as you would know Terry, I just wanted others that migh tbe thinking about a Trust to know that there is a whole new ball game happenin’ other there onthe Trust field.

Cheers
Leigh K[]

Read, learn, grow but most of all just do it.

Steve

I agree with Regina about an advanced level seminar for two reasons;

First, is as per my feedback form I felt disappointed on day one that I didn’t have an aha moment, but that was due to the amount of research I had put in with your materials prior. So I would relish a deeper level of talks and hearing from others eg: Stuart

And second, You and Dave both commented at different times over the weekend how frustrating it is to you that most people in that room would do nothing, well fancy working with a room full of people that did do something and are back for more.[]

Matt & I would be there.[]

Cheers
Leigh K[]

Read, learn, grow but most of all just do it.

Fastainvesta,

The book is called Trust Magic, it is not a published work so you wont find it in a book shop but the link that AD gave is to Dale’s web site and it can be purchased there.

I just finished reading it today and I have to say I was a little confused on some things and I know that I can comfortable go back to Dale and ask him to clarify those things, but the rest was mind blowing … Like renting your PPOR from your trust and getting a neg geared tax deduction … that’s not the mind blowing bit … this is, the trust can rent the house already fully furnished back too you and get a deduction and depreciation for the furniture … think about it!

There were so many “things” in this book it is so worth the read. Especially if you have read Wealth Guardian, Trust Magic goes the next level.

AD, thanks for the tip on Dale, I thought he was awesome I jsut wanted to cuddle him like a teddy bear.

Cheers
Leigh K[]

Read, learn, grow but most of all just do it.

Hi Violeta

As I don’t know your accounts this is just speculation, I think maybe you have the wrong accountant. We had an account up until last Sunday when we decided on our way home from the semiinar that he just didn’t fit out plan. So on Tuesday we found a new one, he has actually written a very good book about trusts which I have to say if mind blowing when you learn of the little tricks (thats really funny that I wrote that because his book is called trust magic) you can use.

Be sure you have the right players on your team that aren’t putting hurdles in your way.

Good Luck

Cheers
Leigh K[]

Read, learn, grow but most of all just do it.

Hi Todd

Thanks that was a very interesting site, I noticed ANZ had a gripe registered against it already.

Cheers
Leigh K[]

Read, learn, grow but most of all just do it.

Hi Guys

I appreciate what you are saying and I too find it frustrating having the same questions over and over but I see it as paying my due’s.

I know I asked ton’s of dumb questions at first and many of the replies I received were to do a search so I know I was also frustrating others. But it is swings and round-abouts.

Have patients and help each other out.

Now having said that, for the wish list I also think there should be a final screen at registration explaining in bullet point form the top 5 things that will get a best responce for new members.

Cheers
Leigh K

Read, learn, grow but most of all just do it.