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I just received the jenman email newsletter. As I have a passion for property I subscribe to a few email newsletters. Got Steves a few days ago and Jenman today….
It says ….This article focuses on just five of the dozens of currently active spruikers. This weekend, one will be spruiking to ‘900 hopefuls’ who, between, them, will have parted with almost $2 million to hear his “secrets”. We have numbered these spruikers from 1 – 5. See if you can put a name to each number. For the answers, just email us.
I may email him after I make my prediction. For confirmation I can email them.
For rural ve+ properties, just throw in a few sheep. You dont want to reduce the ve+.
Clue Number 1 –
<<<<<<Now, let’s look at Property Spruiker Number Five. One with a conscience, perhaps.
This man admitted recently, “Short of blind luck, it’s impossible for anyone to become a millionaire in a year.”
But that’s not what was said on television where he is described as “The Millionaire Maker”. Last month, he was reported to be turning people into millionaires in six months, not twelve months.>>>>>
Any ideas?????????
I think I know who it is?????????
Oh – thanks for the Easter Eggs. Did you know my youngest son is now starting School. I will be a little late paying my rent this month – I hope you dont mind. I am sure he will love the eggs. Thanks again.
I dont want this to happen to me.Tasman said –
<<<<By being slightly less picky I am now finding great deals with +CF >>>>I am a long term property investor – I am not going to be less picky. If something is showing a good return in this market – there must be some risk associated with it. Be it location, type of property or tenants etc.
I am sitting patiently for future ve+ when a market correction starts to take place.
Oligopoly – from dictionary.com
A market condition in which sellers are so few that the actions of any one of them will materially affect price and have a measurable impact on competitors.
Sheeee I thought I was back in the dark lecture theatre at an economics lecture. Good to see loans like that – I think the US has something like that.
I would love to see a loan product where the upside is fixed ie. cannot go above that figure but you get advantages of decreases in rates. eg. fixed rate = 7.29% but if rates go down your rates too goes down.
DAAJ
I have a property that has increased by at least $40k in two years. Thats my kids education paid for. They are only 3 and 4 and once I need the money who knows how much more the property has increased. Not sure how many crownies that is, but surely its more than one per week for a period of two years.
Interesting post Gately. Good to hear from someone who has been around awhile and accumulated a large amount of postiviely geared properties.
I have reservations about wraps for the two reasons you have mentioned. I am more buy and hold in surburbs of a major city.
1. In my opinion you are probably dealing with a lower socio economic profile person. I dont want to be in that business. Nor do the Banks eh.
2. Properties are presently overvalued so I dont see any need for me to invest now. and it would be difficult for wrappees as the prices have gone up and they are paying a premium price and interest rate. I am just sitting on my hands now and dont intend to add to my portfolio for a few years yet.
As your property is in Richmond, it sounds like a great idea and worth investigating. Go speak to the local council. I have no experience in this.
I have decided to buy myself an easter egg for each property I have.
Of course its a major problem. If you were in the market to buy a house would you like to wait for days to look at a property.
Why cant the agent show people threw?
Maybe Jenman may attend his first meeting?
I just read your newsletter on the 3 P’s Plan, Purpose and Passion.
Plan – My plan has always been to buy quality properties that unfortunately are ve-. Now having seen this site, i believe there is a place for ve+. However my plan is to re-assess ve+ when the market goes through its correction. I am happy with my portfolio but now I am more open to regional centres and may consider a specific town or two in the future. But just not NOW.
Purpose – I have always had a purpose of using property to help become financially free.
Passion – I love property investing and thats why I spend far too much time on this forum. Hopefully my comments have helped some people.
I assume the best way to break a partnership is to discuss it with your partner.
Decide the value of joint assets and distribute/sell accordingly.
If you had a partnership agreement, then see a solicitor to see how to cancel.
If you sell your portion of a property then you may incur some form of tax eg CGT.
Did you guys discuss what to do if the partnership failed. If so, do what you guys discussed earlier.
My father had a partneship with his brother. They have not spoken to each other for 25 yrs. And I have not seen my 3 cousins in that time at all.
Let me give you the benefits of some of my hindsight.
1997 Unit was $90k. In 2004 its now worth $250k ie Net = $140k
1997 House in a few surburbs further south from the unit.
Was $130k. In 2004 its $350k ie. Net = $220k.If I had bought a house in 1997 instead of unit I would now be $80k better off.
Why I did not at the time;
1. There was a greater gap between rent and interest for house ie. Needed more of my own cash flow.
2. a unit was easier to maintain ie body corp did it.
3. the location was probably better for unit.What would I do if it was 1997 – buy the house!!!!!!!
In my view – There is no such thing as cant sell.
If there are no buyers then you are asking a price that buyers are not prepared to buy at.
There is an article from jenman that talks about vendors wanting too much. Do you really reckon you will get more in 6-12 months.
I dont know about that.
There are a few things you need to consider.
1. Any capital gains tax implications if i rent out PPOR.
2. Will i get a better price now or in 6-12 months time
3. Does the interest commitments now cost me more than the increased price I may get in the future.Personally I would reduce my price and sell it. I dont think the market for selling will be better in 6-12 months time. I am in Melb, so i dont know really about other States but I imagine they would be similar.
SIS – I am self taught as well. I grew up in a family in the building industry and studied to be an accountant.
To complement this I read a few books, a few free seminars, a few web sites and did the rest myself.
Sure we all make mistakes but $8k is alot of money in anyones language. That was my deposit for my PPOR.
In the seven yrs I have been investing and with multiple properties, I have NEVER given tenants a Gift.
I dont see why. To me its a business relationship and my properties are managed by a property manager.
My properties are $5-10 per week below market rent and in good condition. I always respond to repairs etc.
In my view there is no need. They are not my family.
Good Point. I do applaud those out there trying to educate others. I just done know how much its worth $8,000 or $20,000 or $2,000.
I come from an accounting background where we charge so much per hour for personal attention or work done. Not a fixed amount for a seminar and having heaps in the same room.
If I was to pay $8,000 i would expect personal attention for the whole week. And I would expect a few follow up hours of consultation for a few hours a month for 6 months.
So my beef or misunderstanding is what are seminars worth.
I think $7.2m means its highly overpriced. Therfore there are opportunities for others to offer similar services at a more competitive price. However if there is a market then so be it. I am not in that market.
