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  • Profile photo of wilsonkaywilsonkay
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    @wilsonkay
    Join Date: 2002
    Post Count: 52
    October 22, 2002 - 10:35 pm

    Hi AD,

    Since you asked, I would have some that I would be willing to part with.

    I will send you an email shortly with the particuliars!

    Regards,

    Tim Wilson.

    “Poverty is not an option”

    Profile photo of wilsonkaywilsonkay
    Member
    @wilsonkay
    Join Date: 2002
    Post Count: 52
    September 27, 2002 - 2:54 am

    Thank you all for your replies and input to this, it’s been a great help. Sounds like I just need to go about things slightly differently.
    It certainly can be an interesting experience placing offers! One thing I have learnt, is that you must be on your toes!

    Must push on.

    Regards,

    Tim

    “Poverty is not an option”

    Profile photo of wilsonkaywilsonkay
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    @wilsonkay
    Join Date: 2002
    Post Count: 52
    September 25, 2002 - 10:23 pm

    Thanks HG – looks like I will have to pay a visit sometime soon or put through a phone order!

    Good to see another Tassie-ite here :-)

    Tim.

    “Poverty is not an option”

    Profile photo of wilsonkaywilsonkay
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    @wilsonkay
    Join Date: 2002
    Post Count: 52
    September 16, 2002 - 12:12 am

    Hi Michael, Bruce, and others

    I would cetainly be interested in obtaining these contact details that you speak of in this post, if you would like to either post them here or email them to me at [email protected]

    Hope to catch up with you tonight Bruce :-)

    Regards & Thanks,

    Tim Wilson.

    Profile photo of wilsonkaywilsonkay
    Member
    @wilsonkay
    Join Date: 2002
    Post Count: 52
    September 12, 2002 - 1:26 am

    Hi all,

    Just wondering if anyone can shed some light on where I might be able to buy a copy of “Home Loan Analyser Deluxe”? I have tried Harvey Norman with no success. Keep in mind I am based in Tasmania and will probably have to order it from somwhere!

    Thanks,

    Tim Wilson.

    Profile photo of wilsonkaywilsonkay
    Member
    @wilsonkay
    Join Date: 2002
    Post Count: 52
    August 29, 2002 - 12:57 am

    Hi Michael,

    Just saw your post, and thought that I should reply.
    I am based in Devonport Tasmania, and would be keen to network with others in Tassie who might be interested. We are just starting off in our IP business, and have recently been to Steve’s seminar. I don’t know of any groups that get together at this point – but that doesn’t mean that we couldn’t start one! Perhaps we could meet once a month?

    Email at [email protected].

    Make it a great day.

    Regards,

    Tim.

    Profile photo of wilsonkaywilsonkay
    Member
    @wilsonkay
    Join Date: 2002
    Post Count: 52
    August 18, 2002 - 4:28 am

    Hi there Carolynne,

    No question is ever basic or fundamental. You must have a mentality of asking questions and lots of them!! You remind me of when I was at the Australian Property Investing Master seminar when i was also afraid to ask Steve a very fundamental and basic question, but at the end of the day it had to be asked!

    OK – I will have a go at answering your question for you.

    I believe the approach you are suggesting is certainly possible and could be done, however it would not be my preferred option. My recommendation would be to pay off the mortgage with the additional cash flow to pay the loan out faster, due to the laws of compounding interest you would save yourself a lot of money by doing this, I believe probably more than you would be re-investing it in other properties (that’s obviously open to scrutiny!!). Remember that the first rule of wealth creation is to illiminate debt wherever possible (particuliarily “bad debt” such as credit cards). So I suggest you get your wrapee to deposit the money straight in to your mortgage and not touch it! This will pay out the loan faster should the wrap go the distance and anything after that will be pure profit! It would also be easier from an administration point of view.
    I guess given the above this is one of the good reasons why it is important to hang on to your JOB so that you can raise the money for additional investments.

    What are other peoples thoughts?

    Regards,

    Tim.

    P.S. Rememeber this is only my oppinion and this information is only worth exactly what you paid for it, which was nothing :-)

    Profile photo of wilsonkaywilsonkay
    Member
    @wilsonkay
    Join Date: 2002
    Post Count: 52
    August 10, 2002 - 1:39 am

    Gday Anthill,

    From my understanding here are some thoughts on your first question:

    I believe there to be no hard and fast rules as to what you offer your wrappee in the way of fixed or variable interest rates. Personally if I was using a variable rate – I would pass it on to the client as a variable rate as well, because this way you have no additional risk. I can see no reason why your wrappee could not choose what type they wanted, fixed or variable. Of course if you have your wrappees best interest at heart you would point out to them the advantages and disadvantages of each depending on where we are at in the Interest Rate cycle, but ultimately I think it can be thier choice. If when using a variable rate it goes up, you would just re-adjust the rate accordingly plus your 2%. There would be a clause in your contract between yourself and the wrappee stating that this would be the case. Also there is no hard and fast rule as to how much additional interest you charge as your margin, but 2% is fair and reasonable. At the end of the day this is a commercial transaction and you need to make money. Also I guess you need to bear in mind that you will need to make sure that the wrappees weekly repayment is equal to or less than thier current weekly rent. Obviously the amount of interest you charge will affect your ability to meet this requirement. Basically you could charge whatever the market can bear!

    Make it a great day,

    Regards,

    Tim.

    P.S. Steve’s “Wrapps Secrets Revealed” library contains all the answers to the types of questions you are asking in this post. Highly recommended if you don’t already have it.

    Edited by – [email protected] on 10/08/2002 11:42:21 AM

Viewing 8 posts - 41 through 48 (of 48 total)
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