Hi,

It depends what the illegal structure is.

I believe as long as it has been there for over 7 years, that the council won’t do anything about it.

I would definatley contact the council about it, and have that verified by the council.

If it’s nothing major perhaps use it as a bargaining tool.

Regards,

Del

Hi Karen,

We’ve just recently bought one, and it is in the process of getting finance for it.

It costs more to get into a decent commercial deal, but I reckon it’s better for 3 reasons:

1. You’re not continually chasing tenants for money.

2. You can easily manage it yourself and you’re not paying property managers who don’t do their job properly.

3. Tenant pays all outgoings like rates, insurances..

Hopefully anyway, []

Regards,
Del

Hi Xenia,

Also, there are a few smaller towns in NZ that the banks will require 30% deposit.

Apart from that, it’s very easy.

Good luck,

Del

Hi NM,

I went to a seminar of theirs last year and got a lot out of it.

I would definately recommend you going if you intend to do renovations.

If the word “RENO” makes you vomit [xx(] by just reading it, then save your dough! Instead I’d put the money to going to Steve McKnight’s seminar in March if you haven’t been to one. I’d do that anyway!

Use the search function, you will see lots of discussion on Geoff Doidge & Paul Eslick, or try their website – http://www.financialsuccesssystems.com

If nothing else it will be entertaining! They are very funny men.[:o)][:o)]

Regards,

Del

Hi Bear,

There’s no way I’d be paying out 10% to some country hick RE Agent, to do something that I could do.

Ring the RE Institute in Tas, or use a solicitor. I know you are in SA, but it’s amazing what you can do by using faxes, email etc..

Just don’t accept that 2nd rate treatment from the RE Agent. He does not deserve it!

Don’t find reasons why you can’t do it, find reasons why you can!

Good luck,

Del

Hi Purplekiss,

We have one number 13, and one number 31.

We have had a few rough times with number 13 lately with a tenant in arrears, but it all worked out in the end! It’s amazing what the threat of being kicked out does..[}]

Bye,

Del

Jacktar,

Did you work out your repayments in advance or in arrears?

I havent got my financial calculator handy, but I reckon that is where the difference lies….

Cairns Beach Resort is a tricky case study, but the sums are not so important if they add up 100% (which I’m sure they do), it is the message behind it..

Good luck,

Del

Hi Rodneybrian,

Yes you are right… I’m not saying that +ve cashflow properties are not around anymore, but they are few and far between – that is an understatement!!!

If you are just starting out, my advice to you would be to hold off perhaps until mid winter. I am betting that with any other interest rate rises coming our way, that a lot of people will be forced to sell, especially people who are operating from using a line of credit. I would not recommend anybody invest unless you have at least 20% deposit.

Just my opinion,[:o)]
Good luck,

Del

Bec, Redwing & Richmond,

Thanks so much guys for your words of support. It means a lot to us.[]

Bec, you have stunned me, and especially get a big thank-you! You have just shown that you are fair and willing to accept responsibility for your comments.

Richmond, because we sold our PPOR which we loved, we were more determined than ever to succeed, and to have not done it all in vain. We have been albe to use equity for most of our deals up to now, (although it is still difficult finding the deals), but now we are looking at ALL options, Joint ventures, 2nd mortgages, subdivisions, anything that will keep us in motion. No money down type deals… The MAP participants are looking at the moment for a really big Joint Venture that we can do as a group. Hopefully we will find something suitable soon and I will be able to tell you a bit about it.

Guys, have faith in yourselves, and all I can say is if you REALLY WANT SOMETHING SO BADLY, and work each and every day to do something to bring you closer to your goals, then you will achieve huge results.

Sometimes we can be our own worst enemies. From time to time, we all have little voices in our heads, telling us reasons why things won’t work, and giving ourselves excuses to stay at home and do nothing. The MAP program has helped Will & I to look at ourselves, and find reasons to show why we CAN do it… That is basically the MAP Program in the nutshell.

I don’t want to go on any more, because the program has not finished.. We are not posting here to put ourselves on a pedestal… We are simply confirming that good things happen to those who seek the results.

Have a great day everyone,[]

Regards,

Del

Hi everyone,

Sorry to take so long to reply to this post, but I have only noticed it now! I don’t get as much time to make posts as I used to, but this one definately requires a reply from me.[:o)]

We are the ones that have just reached our $1.000.000++ in positive cashflow property since starting with the MAP program. They are ALL positive cashflow and return us over 13% gross. I am not stating this so people can pat us on our backs, but simply to prove to you that the MAP program DOES WORK!!

I will not speak for any other Mappers, as it is for them to disclose how they are going, but I will simply say that the MAP program has been amazing for us. Steve and Dave work tirelessly at keeping the group motivated, focused and challenged, and sometimes I’m sure they can think of much better things to do. They are forced to make decisions, that do not make them popular. They are decisions that must be made to keep the program constantly challenging for people.

The realestate market is very different to when the challenge was offered. This means that we are more cautious about which deals to take, and which ones we don’t take. There are many ways to make money out of realestate, and some of the Mappers are using different techniques to us, and achieving great things also.

Please don’t knock the program!!! We are all simply people like you, but actualy OUT THERE persisting and not giving up. We all have our “day” jobs and family responsibilities. We have two children aged 5 & 6, and they are now quite used to driving for 4 hours at a time, and then spending the rest of the day looking at property. We are making sacrifices, but we are doing it for them.

For all the 12 deals and 15 tenants, that we have found whilst on the program, only 4 of them were even on the internet. The rest we found by DRIVING AROUND….and speaking to agents.

If you constantly push yourself, especially when you don’t want to, you will get the results. Our last deal was last weekend – our first commercial property (a freehold shop in a large regional town in Victoria), was $260,000 with annual rent of approx $25,500 and tenant paying all outgoings. It was a new listing, which if we hadn’t been in the town at the time, we would have missed out on it.

As for all the cynics, if you knew Steve & Dave, you would take back your harsh words about them and the program, and you’d realize that they are just people like you and I, but that they get a BUZZ from actually helping others.

For all the other people on the program, we wish you success, for the few people who have chosen to leave the program, it was great to meet you, and you deserve respect for admiting that it was not right for you at this time. I hope that we make it to the end of the MAP program, but whatever happens, I will be indebted to Steve & Dave for a long time (in my mind). They would never accept anything from us, other than true friendship, which is the best thing that I could repay them with.

I hope that my post didn’t bore too many people, I have probably got carried away, but please be fair and give credit when credit is due….

Thanks for listening,[]

Kind regards,

Del & Will[:p]