Hey there dafledz,
There are many creative ways to get into property with little or no moey down. I would suggest reading Nothing down for the 90’s by Robert Allen.

May give you some ideas. Also worth coming to the Masters event to give you more ideas on property.

Hope this helps.

Enjoy
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“Carpe diem, quam minimum credula…[Read more]

What it means to me Steve is that they are nice numbers but if deal makes money then I don’t care how long it takes to double. It means money is in my pocket and I can do more deals. Numbers are great but I think some times we get to carried away with them. The bottom line is if a deal makes sense whether the market is going up or down it still…[Read more]

Hey Tom,
I find that I treat agents with respect but I expect them to work for my interests.
I must admit with some agents I call a spade a spade and tell them what I think of there tactics and approaches. It is always fun to go to a new agent acting like you know absolutely nothing to see how they treat you. From there you can see how they really…[Read more]

Hey Lisa, Welcome to PI.com [] .

Could you through up some numbers on the unit for us to peruse and add comments. What size is the apartment, what sort of rent, etc.

Enjoy
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“Carpe diem, quam minimum credula postero.”
Lat., “Seize the day, put no trust in tomorrow.”
-Horace, Odes

The other upside is if they are eligible for FHOG and have a deposit then you could get some money back out of the deal ASAP and use it elsewhere on a deal.

Just a thought.

Enjoy
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“Carpe diem, quam minimum credula postero.”
Lat., “Seize the day, put no trust in tomorrow.”
-Horace, Odes

Why not consider wrapping it at $155 – $165K which will give you a cashflow and turn that neagtive to positive. If you want to know more on wrapping check out some of the old posts as they will give you the understanding you may want.

Any other questions fire away.

Enjoy
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“Carpe diem, quam minimum credula postero.”
Lat., “Seize the…[Read more]

Hey Trish ,
The key ingredient that Margaret Lomas relies on is a healthy deprediation schedule. She uses the tax return on the loss but also uses depreciatioon on the property, fittings, etc to push the tax return ito the positive instead of costing you money.
So the deal may cost you $5000 which is deductible but you also then apply the…[Read more]

While there is nothing wrong with this approach of lowballing I hold with the argument that Property is about people. I seek to build relationships with agents and always offer reasonable but aggrsssive offers. I have found this very successful as I get the first call with a few agents who let me know of the bargains and why they feel they are a…[Read more]

Hey all,
I am looking at the numbers and wondering if they stack up.

Here is how I look at a deal.
My assumptions here are that you are borrowing the whole amount from the way you talk about valuations.

Using Susie’s numbers

Purchase Price – $125000

Interest rate – 6.0 %

Rates – $1500/year – 28.85/week

Costs

Interest/week on interest…[Read more]

Hey Peter,
I alwyas inspect all my purchases. If I did not due this then I would not be completing my due diligence. I thinks Steve has a great system called Buyer Beware which helps sort the wheeat from the chaff. Check out the resource section. I use the templates for purchasing property as it gives me a guide to buying.
I thinkg you are 100%…[Read more]

Hey Jezzah,
Without knowing all the details. Why not try and wrap the property to someone thus turning it from Negative to positive. It will also allow you to sell it to an owner not a renter. Maybe the people in the property would be interested in buying the place off you. What sort of numbers are we talking about for the property ???

Enjoy
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Congratulations Felicity Hope you do dozens more.

Enjoy
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“Carpe diem, quam minimum credula postero.”
Lat., “Seize the day, put no trust in tomorrow.”
-Horace, Odes

There are probably a number of ways to lok at this statement but the one that hits me first is that property is all about people. The most important part of being a property investor is dealing with people. To be passionate about property means to me that you focus on the people and love the challenges presented. To be passionate about money is to…[Read more]

Yep I agree with Robert I feel that book is an excellent key to wealth. I also liked the money finder that Geoff Doidge and Paul Eslick have in a book. You can find it “The Ten Golden Rules of Property Investing” on
http://www.businessmall.com.au/ It is an excellent way of finding hidden money. Not a bad read either.

Enjoy
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“Carpe…[Read more]

Yep Rob I certainly have my wrap is in a town about 3 hours away. I would and will do it again though. The biggest issue is screening and showing. A face to face is essential so that means you have to try and do these in block times for your sake. Apart from that it’s worth travelling a few times that far for $3000+/year.

Enjoy
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Hey Willie,
Mate I reckon you are mad if you don’t come. The whole issue of lack of experience is perfect for you to come. Imagine….if you wanted to paint a picture which would you use, a pre-used and stained canvas or a fresh canvas. The beauty of being inexperienced is that your mind is fresh to opportunities. You can go to the smorgasboard of…[Read more]

Personally Robert I usually will not make an offer on a place unless I inspect it first. If I can’t get there but the agent says it is good I will through in a clause of Subject to an inspection to the complete satisfaction of the purchaser.

Hope this helps.

Enjoy
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“Carpe diem, quam minimum credula postero.”
Lat., “Seize the day,…[Read more]

Hey there Goanna,
Welcome to the forum. Hope you enjoy your time here.
As to your question all I can say is that I am never one for a prepackaged deal. To me a lot of the fat is long gone by the marketers. I firmly believe that the only way to get a truly good deal that you will be happy with is to do it yourself. Get out there and pound the…[Read more]

Hey Nick,
Why not ask the vendor why she needs a long settlement. If you can’t getto the vendor ask the agent. As far as I can see I would love to have people say they will sign up at todays prices but I don’t have to pay for 6 months. You can be working other deals in between with full knowledge that this one is locked away. I think you are very…[Read more]

Hey B man you out there ????? Your part of the world.

Enjoy
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“Carpe diem, quam minimum credula postero.”
Lat., “Seize the day, put no trust in tomorrow.”
-Horace, Odes