From: Mike . John Burley Seminar From: Darren Date: 5/19/00 Time: 12:17:33 AM I attended a John Burley seminar tonight in Melbourne and was blown away on a session about how to turn your negative geared properties into positively geared. The concept he uses is called a wrap, which is widely used in America, but not here. Basically, it is like a car lease, except with a house. I buy the house, and the vendor leases from me with an option to purchase at some stage in the future. I repay the loan, the tenant pays me a lease payment and pays all costs - rates, repairs etc. Basically, on a $100,000 house, I would make $300.00 profit per month - it makes me the banker. Burley said that most people or advisors will say you can't do that or thats illegal. It is done here on a small scale, mainly because people don't understand the technique. He showed examples of advertisements in Australian newspapers, with people who do it here. He claimed one guy in Melbourne has 20 properties alone on a wrap around mortgage, - $6,000 per month positive? If you want further information go to a Burley seminar or go to www.creonline.com - newsgroups. Why invest in negative cashflow properties, when you can do this.