I’m presently completing my third property reno. I agree with Steve’s statement: “it will take twice as long and cost three times as much as you budget”… or something like that.
I’d enter into a Reno, re-sale strategy with great caution. It is easy to say “polish this, know down that, paint that” though when it comes to the hard work, it can…[Read more]
I’ve got a couple around the 60K mark. You can have one of those if you like. I’ll even do the homework for you.
20% deposit = $12 000
Stamp duty = $1 775
Legal fees = $1 000 approx.
Build & Pest Inspection
= $500 approx.
Mortgage application fees and Valuation
My fee = $3000 approx. (Or we do a joint…[Read more]
A few questions?
Do you want to buy real estate?
What kind of strategy interests you?
Would you consider a joint venture, or act as a money partner if a second party could qualify for a loan?
What kind of property do you want to buy?
There is a way to do most things. It may involve some creative thinking on your part.
I was reccommende one via my Conveyancer, though I’d advise you ring around and ask a few questions. See how they respond over the phone..
Their ability to communicate is as important as anything.
Also, some seem to view you as a low priority customer until you’ve actually spent some cash. I can understand this from a pragmatic perspective,…[Read more]
I’m curious about this too:
I talked to my conveyancer about it. She reccommended the use of an “And or Nominee” contract rather than an “Assignment of Contract”..
Apparently they can “back date” the letter of consent from whom ever you put on the contract, though I “didn’t hear this from her”.
As for an Option, I’m not sure.
I rang around a number of lawyers in my city, to conduct a basic enquiry, phone interview. The ones I liked the sound of (e.g. phone manner, clarity of explanation etc.) I called again.
Now the lawyer I settled upon to set up my Company Trust structure has been willing to create a Draft joint venture agreement for me. Free.
I’m happy to flip the details of some properties I’ve found onto other interested parties.
Now when I say “flip” I mean I’d be happy to pass on the details for FREE. This helps me in that I gain more experience analysing both individual properties and towns.
I figure that if I’m able to convice some better educated fellow investors of the worth…[Read more]
I concede your points willingly Elves..
To be honest, when I posted that reply I was a little hung over and snippy..
I do like the idea of the town analysis and info sharing programme.
I’ll lead by demonstration and do a couple of my own which I’ll post here.
People do love to digress…
Honestly guys, I was hoping people would read my post and give me some positive feedback. Have I left anything out by your appraisal etc?
I have read a lot on this forum the past couple of days about people discussing ethics related to Bird Dogging/ providing a service for a fee.
Now I made this post with an aim to…[Read more]
I’m keen to hear about any property you have on offer.
As for the sceptics:
I feel there are two main threads here
1) Forum members appear to Fear being screwed by an unscrupulous Bird Dogger, by buying into an area that may experience -ve growth, or by buying into a property that may (after one has done their due diligence prove not to be…[Read more]
Consider the following when analysing a town:
South Australian rural locality analysis.
What information do I require to make an informed decision about a particular rural locality as a potential residential real estate investment location?
· Town Name
· Immigration/ emigration; within last five years, ten years, and also fo…[Read more]
I agree that I disclosed too much in my example, though my reason for doing so was more to show myself that I knew how it works. I have since changed the example to something more simple and posted out the letter to those who asked for it.
Here’s my initial Tenant Information Letter…It’s not quite finished, though I’d appreciate any feedback.
Skip this question if it bores you, though please scroll down to the Tenant Information Letter…
1) If I link all Interest Rates to both prevaling rates, as well as the CPI, how does the latter affect repayments? I understand…[Read more]
Hey all, I know the property sucks, and my sums need to improve…
I just wanted to actually do something and thought a property I was never going to buy anyway would be good as a homework assignment..
I’ve since been looking at a promising 60K 3br place…more realistic and fitting with my strategy.
Will offer up the sums on this one when I…[Read more]
I went to Steve’s Property Masters whilst a good mate of mine attended Hery Kaye’s 4 day seminar only a week prior.
Staying at his place, I had an opportunity to look over some of the info included in the extensive pack, with DVD’s!!!
If you are Newbie, like me I would advise against this seminar. I found everything I need to get…[Read more]