Hey Bianca…..welcome to the gang.
I have wrapped a property which is the same as selling it outright and I found that it is as easy as doing exactly what the RE agents do. Advertise, Signage and one excellent thought is to have an open house where you make all the parties come to the place in a very small period of time so they see the other…[Read more]

Hey Leigh,
I’ll be there with bells on. look forward to meeting you.

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

Hey Grizzly,
Why do you say Brisbane seems to be the next hot spot ? It has already had phenomenal growth and yields are down to sydney/melbourne levels on the whole. Where you talking about specific areas or just generally ? Love to hear your thoughts being a Brisbanite.

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

Hey Chad, Welcome to the forum. There is no easy answer to your question as it depends on what you want. Where do you want to be in ten yeas and how are you going to get there. Does this form part of the strategy ? If not enjoy the gain and funnel the gain into something that does what you want and gets you where you want to be. Realise though…[Read more]

Hey YG,
I think the best definiition I have heard on this one is by Margaret Lomas. She divides it into three classes, as follows;
1. Negative geared – costs money from our pocket each week.
eg. rent + deductions – costs = -ve

2. Positive cashflow – After deductions, etc the property puts money in your pocket (not before deductions though)
eg.…[Read more]

Hey Rachel,
That truly is awesome. Congratulations. With that drive I am sure you will get there. You make me rethink my stratgey by your boldness. Two question …..are you wrapping or renting the properties ??
Are you a fellow Brisbanite ??

Enjoy
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“Carpe diem, quam minimum credula postero.”
Lat., “Seize the day, put no trust in…[Read more]

Hey Young Gun,
why only 6 weeks ? I usually try for a minimum of 60 days that allows me heaps of time to get in and do work on OPM (Other People’s Money). The only real hitch I can see apart from what Deanjp said is make sure you pull the deal off. I am sure if I was selling and someone had done work to my place and then asked for an extension I…[Read more]

Hey Ziz,
Interesting thoughts on the baby boomers….want to share your thoughts ??

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

Hey Sandi,
I have used a clause in my contracts that stipulates I have access to the property and can complete works to the property prior to settlement. You must be careful doing this though as you will want to ensure you can settle on the day or else the vendor gets a fix-up for free.
Just a matter of timing and comfort.

Enjoy
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Interesting thoughts Key. I think it is a pretty safe bet to say that this year is going to be an interesting one. Between War and the stockmarket there should be some serious turmoil. As to what history has done I guess I always remember that “nothing is new” quite often we can see similar patterns occurring in the past and get some feel for what…[Read more]

Hey Dave,
I’ll preempt Steve’s answer by saying that in this case his settlement was so long that the bank was prepared to agree that the value may have gone up in that period therefore their willingness to look at a valuation. On shorter settlements what you said is correct. They will always take the lower of Contract price or Valuation..
Hope…[Read more]

Hey all,
You certainly have picked some hot spots Marketmad and these areas have experienced significant growth over the past year. My thoughts are that most (nearly all) properties in this area are cashflow negative. They will cost you money to own every week. Also there has been good growth but past is no guarantee for immdeiate growth in the…[Read more]

Is the vendor willing to carry some of the debt back as a second mortgage. Offer them above market rates to provide an incentive and see what happens.You never know till you ask.
Have you got a good Mortgage broker onto the case. They often can see solutions we can’t.

Enjoy
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“Enjoy life. There’s plenty of time to be dead.”
-Anon.

Hey Harryson,
I am currently exploring the same thing and I have talked to a few people and my first suggestion is to do the same. Check out the implications with your accountant and your solicitor. Be specific about your needs and aims and put it to the experts.
The options as I understand it are;

1. Partnership.
2. Joint Venture.
3. Company.
4.…[Read more]

Another one to add to the list is ” The One
Minute Millionaire” , It may sound tacky but it is a very good read. Full of good ideas to help shape your paradigm…… I really enjoyed it and have given a few away to friends for encouragement.
Worth a look in conjunction with Big Bad Bruce’s recommendation…..[}]

Enjoy
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“A successful…[Read more]

Hey Leigh,
I’ve heard of people doing this and I thought about it myself. What I decided though was that my Solicitor is a very valuable part of my team. While it may cost around $350 for him to establish a trust it is up to date (not that there are to many changes) and it gives me the chance to make sure I am using the right vehicle. I also see…[Read more]

With you all the way there Mr Hedge. It is nice to think about scoring properties undervalue but I also really enjoy solving peoples problems not ripping them off. It is a fine line and I know many will say that if people get themselves into trouble then they deserve what they get. Can’t say that sits well with me as I never wish ill on people as…[Read more]

Hey Mongrel,
(not sure if I should write that !!)
The advice my solicitor gave me is that the practice is not illegal just outside the bounds of the act and if something went wrong….who would the court support.
For me it was easier not to go there.

Enjoy
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“A successful person is one who can lay a firm foundation with the bricks that…[Read more]

Hey Tails,
It’s cool to have an opinion but sledging helps no one. People come here of their own free will and read. It’s up to them (and you) whether they act or not. Tell us all who is Steve’s mysterious ID ? Accusations or fact ??
Sounds like you are in deisagreeance with the philosophy so don’t follow it. That is good for you.

Enjoy
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No problems Pynecone.
You’ll have to let us know if the info works. Always looking for new information to expand my knowledge. Hope it goes well.

Enjoy
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“A successful person is one who can lay a firm foundation with the bricks that others throw at him.”
-David Brink