I went on couple of American RE forums last night and became thoroughly confused. Is it best to just stick to Aus sites? I find the lingo is totally different and they explore so many methods that my head was about to explode.
I don’t mind some of the US sites, have been on a few and quite enjoyed the different views. It may be quite headspinning but it only takes one new idea to make it all worthwhile.
I also enjoy reading other peoples success or problem stories, then you find they really aren’t all that much different from here and you can learn so much from them.
Topnotch
On The Sunshine Coast Of Queensland Where Our Bones Are Always WarmHi,
I think that it is important to read widely on the topic of real estate.
In respect to OS forums, there are often hints of strategies being used that may (or may not!) be applicable to the Aussie market.
For example, it was at a direct marketing conference in Vancouver that one of the fellow participants pulled me aside to discuss property investing. He was using a basic form of wrap strategy (although he didn’t call it that).
I came back to Australia and discussed the strategy with my lawyer… he said it was just vendor finance and the only difference was that we were writing 25 year terms rather than the normal 3-5 years.
And thus was born our wrap empire.
It wasn’t until I attended a seminar run by John Burley that I discivered what I was already doing successfully was called a wrap in the United States (short for Wrap around mortgage)… I just thought it was vendor finance.
So, the strategy works around the world but has a different name.
If you are confused with the terminology, just post the words / phrases that you don’t know and we’ll build a glossary as part of the site.
Regards,
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 everyone,
Would it be OK for you to link to some of the better overseas forums? It’d save me having to shop around like you guys have done. Thanx
-Nick
For Wraps / Vendor Finance the Jphn Burley forum is interesting.
http://www.mastermindforum.com and go to the Burley site.
Hope this helps.
Enjoy
AD [:0)]A great deal of talent is lost to the world for want of a little courage. Every day sends to their graves obscure men whose timidity prevented them from making a first effort.
-Sydney SmithThanks AD it’s the only site where I can understand what they are talking about.
Hi Nick,
The three most popular US forums seem to be:
1. Robert Kiyosaki’s site: http://www.richdad.com
2. Creative Real Estate: http://www.creonline.com/
3. John Burley’s site: http://mastermindforum.com/phorum/list.php3?f=2I must admit that I am not a fan of John Burley’s site since the policy adopted is one of heavy censorship.
Still, if you pick up one new piece of information that makes money then it’s worth the time to wade through all the “acceptable spam” posts which cater for big egos.
Regards,
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
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