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From: Mike .


Buying Property With Virtually No Money
From: Jonathan Davies
Date: 7/9/00
Time: 11:16:03 PM

I spent 4 days learning how to buy property for $500-$1000, purchasing it $40,000 below the market, obtaining bank guarantees on your rental income, eliminating most of your stamp duty, how to get developers to guarantee their work, how to get Real Estate Agents to get maximum results and how to trade property for returns of 1000%. It was the most powerful program I have ever seen and the presenter Henry Kaye is the second most passionate speaker I've seen (after Robbins) and he is very specific in the details of how the whole system works.

I personally have a property using this system in St Kilda. I got it for $70,000 below the listed price, $22,000 worth of inclusions, bank guarantee for 5 years on the rental, paid $800 in stamp duty and purchased it with a deposit bond for $1000. That's how powerful this system is. When I settle on the property I will get 100% finance on 90% LVR, which means in the end I haven't put a cent into the property. Plus I will maximise the depreciation benefit an extra $50,000.

My goal is to have it either nuetral or positive cashflow. If you are serious about investing in residential property, then you must go to it. If you aren't satisfied with the course they have a better then money back guarantee (worst case get $800 for wasting your time).
 
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Tony

Reply: 1
From: Mike .


Re: Buying Property With Virtually No Money
From: Tony
Date: 7/13/00
Time: 5:07:55 PM

All that work for a neutral or maybe positive cashflow property???? Forget it!!!!!
 
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Jonathan Davies

Reply: 1.1
From: Mike .


Re: Buying Property With Virtually No Money
From: Jonathan Davies
Date: 7/14/00
Time: 11:02:28 PM

You obviously don't believe in maximising what ever you are doing, and are blind to the rewards on the back end, but hey if that's your style that is O.K
 
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Tony

Reply: 1.1.1
From: Mike .


Re: Buying Property With Virtually No Money
From: Tony
Date: 7/16/00
Time: 1:57:54 AM

Really Johnathon,

I do maximize what I can get guaranteed not what is likely to happen in the future. On all my IP's I have bought I look at what their performance is likely to be and how quickly I get my money back that I put into the IP without selling it.

Do you understand 8-12 year economic cycles and the benefit to the investor during these cycles in maintaining control over their investment(s)?

(Please note I am not being critical of you, just what you have been taught!)
 
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Davin

Reply: 1.1.1.1
From: Mike .


Re: Buying Property With Virtually No Money
From: Davin
Date: 7/15/00
Time: 11:31:48 AM

Jonathan,

Please explain a few things for my benefit.

The 'back end'... Is this a reference to the capital gain you will make when you sell (accumulated over several properties)?

Bank guarantees on your rental income... I'm assuming you dont mean that the bank will cover your rent if you dont have a tenant, or are you. Are you refering to getting 100% of your rental income used for the Income/Repayment ratio, instead of the usual 60%? NOTE: This can be done with most banks simply with a 12 month lease.

RE Agents max results... By this are you referring to motivating the person to work harder for you? Some details would be nice.

$22,000 inclusions... Is this above the normal rate? What was the purchase price. Inclusions can go anywhere from 10% to 30% of the value. Was this done by the builder, if so, is it legit. I know plenty of builders that will give me an extra $15,000 of inclusions that the ATO wont.

Stamp duty... How can you legally avoid the duty on any transfer of funds other than by telling the government that it only cost $50,000 and then giving the seller a suitcase of cash? Is there a legal loophole (that is ethical) that I dont know about?

Depreciation... $50,000 seems a little high for a deduction. Factor in that you'll only get back the % tax bracket your currently in (at most). Explain how the the deduction is so astronomically high? Is there something you can teach me here that I'm unaware of? Is it your purchase price was around the $400,000 mark?

Finance... You get 100% finance, with a maximum 90% LVR. Is this LVR specific to borrowing from specific lenders, is vendor finance involved, do you use a builders rebate clause? Some of these things may get the average investor into hot water.

Is your strategy simply to highly gear as many properties as possible? The 'if I can do it with 2 I can do it with 20' theory. Wrong. Not at that level of gearing, unless you already have an income of $2,000,000 a year. If you are utilising another method, then please let me know.

I'm always looking for ways to maximise my investments. If you are genuine and can answer some of my questions I'll be most gracious.

Davin
 
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Sanchez

Reply: 1.1.1.1.1
From: Mike .


Re: Buying Property With Virtually No Money
From: Sanchez
Date: 7/10/00
Time: 2:38:49 PM

Jonathan

How did you manage to pay only $800 stamp duty?!

Sanchez
 
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The Wife

Reply: 1.1.1.1.1.1
From: Mike .


Re: Buying Property With Virtually No Money
From: The Wife
Date: 7/10/00
Time: 3:04:56 PM

You went to all that trouble hoping to have it neutral or positive cash flow?, geeze i would certainly hope so, and yes, you can tell us all how you got your stamp duty down so low.
 
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Gee Cee

Reply: 1.1.1.1.1.1.1
From: Mike .


Re: Buying Property With Virtually No Money : HOW DO YOU DROP STAMP DUTY $
From: Gee Cee - I am with The Wife
Date: 7/10/00
Time: 9:03:47 PM

GET REAL

1) Let us all knoooow how on earth you can drop Govt Stamp Duty?

2) How did you just happen to get $70k off the price?

3) How did you get bank guarantees on rental?

4) How did you get $22k of inclusions?

I know you CANNOT tel us as it can only be revealed @ the seminar.

A couple of more QUESTIONS JOHNATHAN!

Do you sell seminars as opposed to property and have you read Roberts posting dated 10th July 2k?

Is your number similar @ 203.101.17.53 ?

Did you ever sell used cars?

Happy seminar selling!
 
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Robert

Reply: 1.1.1.1.1.1.1.1
From: Mike .


It would be nice to be able to get all these -
From: But without the spam to come in a very near future posting
Date: 7/10/00
Time: 9:59:19 PM

Thanks Gee Cee

Had a great laugh. This is the IP address that has had 4 different names associated with it.

Cheers Mate Robert
 
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Robert

Reply: 1.1.1.1.1.1.1.1.1
From: Mike .


SPAM ADVERTISING
From: Robert
Date: 7/10/00
Time: 2:35:14 PM
 
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Grant

Reply: 1.1.1.1.1.1.1.1.1.1
From: Mike .


Re: Buying Property With Virtually No Money
From: Grant
Date: 7/12/00
Time: 11:25:31 AM

From what I've heard about New Life/HK etc...

The stamp duty thing has something to do with paying the stamp duty ONLY on the property which apparantly is very small if you are buying a block of land with units eg. 30 units = 1/30th of the land. I assume that you then contract the builder to build the house rather than buying it from the builder. Don't know if any of this makes sense this is just what I heard from someone who went to one of their "consultations". btw this is not supposed to be legal in NSW but probably ok in other states.

The buying at 70k less has something to do with negotiating with the seller based on council valuations. You point out the lowest sales in the area to the buyer who then agrees with your low offer. You then use the same council report and show the valuer the highest sales in the area to convince him to give a high valuation. Why not simply bride the valuer after all I'm sure they are that easily swayed. Plus you'll save a trip to the council offices. (For those of you who don't get it, this is sarcasm)

The NL guys are a strange bunch in my opinion. They also told my friend about how to save the GST on the sale of your investment property ??? Now there's an idea. Perhaps I could put on a seminar that teaches how to do this... any takers ?
 
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Carly

Reply: 1.1.1.1.1.1.1.1.1.1.1
From: Mike .


Re: Buying Property With Virtually No Money
From: Carly
Date: 7/12/00
Time: 10:46:41 PM

Grant you seemed to have some knowledge, how many properties do you have? How did you purchase them and what results are you getting from them?
 
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???

Reply: 1.1.1.1.1.1.1.1.1.1.1.1
From: Mike .


Re: Buying Property With Virtually No Money
From: All OF US IN FORUM LAND
Date: 8/12/00
Time: 7:49:04 PM

Dear Jonathan Davies,

We are all still waiting for you to reply & let us know how we can also receive these MIRACLES that you have mentioned.

Please reply.

We are ALL WAITING
 
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