Some other facets of the Australian Dream

Michael,
It is really good to see someone from down under able to show the worlds best practice capitalists a thing or two. I am always amazed that more people in the US are not doing what is now almost folk law in Oz. With their rental markets (over 10% return in alternative areas of SF apparently) together with 15 years at 7% (Yikes am I dreaming!!!) this should be a breeze. I also know of one bloke here in Queensland that is branching out into the states with the same idea. With the US's much more flexible financing and acceptance of novelty I think it would go over really well. But I digress....

Two other points to think about. Always get each house financed by a different source (bank etc.)this stops banks amalgamating your colateral in case of problems. And put each property in a different trust structure, this will only cost a few $hundred each and if all trusts have the same corporate trustee the taxes are still relatively simple. This combined with keeping up the level of good debt through borrowing for "wages" will act as a pretty good asset protection system. US citizens can make it even simpler by use of New Mexico LLC's as silent owners and other such ideas that are too far off the wall for us simple souls from down under.

Thanks for the constant education and entertainment (edutainment?)

regards, Scott
> In the latest issue of The Entrepreneur's
> Hotsheet we linked to a post which
> contained a story about a woman who became a
> millionaire in 7 years. See the story here:
> http://www.creonline.com/wwwboard/messages/49935.html