Exciting times to be alive!

Finance is going to be an issue for some time and I’m looking forward to giving you some cool ways around it in more detail at the event next month but you need to get your head in the right space in this market. All the strategies that are considered hard work or ‘Why would any vendor agree to that?” are all a walk in the park right now.

You can buy almost as much property as you want with no money right now. I just can’t believe what vendors will accept when they have no other options. So how many times have you asked for vendor finance with no interest lately?? Why not, it is on offer all over this wonderful country!

And options, my goodness, you can control millions of dollars of real estate for a few hundred bucks right now.

So right now there is NO excuse to moving forward and setting yourself up for the coming boom.

You know me, I’m not a hype merchant at all, but it truly is kid in a candy store time for us. Is your portfolio getting fat?? It should be. If you’re stuck join me for a day that will blow your mind next month. Details at www.retirefromproperty.com.

Kris Pedersen Finance Strategist

Cross – Collaterisation

“It’s only when the tide goes out that you find who’s been swimming naked.” – Warren Buffet

The tide has definitely gone out for a lot of people over the last 12 months as can be seen by the number of higher profile developers and businesspeople with bankruptcies, business failures and mortgagee sales. In the boom everything looked like it could roll on forever and many disobeyed fundamental investing rules. At least half a dozen new clients contact me every month that have all their properties and debt hooked together with the same lender even though they have been told by asset protection experts not to. Many end up in dire straits and while there are some we can help there are always those that nothing can be done for.

We spend time with every new investor showing them ways to build equity safely and that by structuring their loans correctly, how they control the process rather than the funders if things go wrong.

If you are just starting off investing and wish to learn about this or have a few already and are hooked in with one lender and realise you need to change feel free to contact me here to discuss this further.

Did you know that your current mindset is really set in concrete and changing it is really, really hard?

I say this based on my life experience but also I have had a good example this week with a client.

Some history:
About 2 or 3 years ago this client talked about a deal they were looking at. I told them they were nuts and I found out recently that a very qualified friend of mine also told them it was snake oil, yet he went ahead.

So roll forward to a few weeks ago and my friend is now losing everything. I always take these things personally so have moved heaven and earth to try and help get his portfolio sold down quickly and see him with some money at the end of it.

So in the midst of this he suddenly rejects several good offers and starts holding out for top dollar when his prognosis is terminal. Now I understand this on one hand but it showed me that the same mindset that got him into trouble was still controlling him. He is once again ignoring professional advice even after he is in real trouble.

I have learned that when people are this “fixed” there is nothing you can do except wait for life to smack them round the head till they feel enough pain to change. But the truth is we are all like this. I have aspects of my behaviour I dislike but changing, changing, that is another thing to disliking where I am.

So be aware that you will have strongholds in your thinking that are destructive AND you will think that this mindset is “good” and “normal”.

The beginning of discovering this is to listen when you are challenged and when you are told stuff you don’t like. If you hear a pattern of comments that annoy you, guess who might have a problem ?

Guess who might need to change?