I have 2 resi and a commercial property in Karratha and a large development block in Derby in WA. I have done well out of all these properties, but prices have been extremely volatile, it hasn't been unusual for prices to move 20% one way or the other inside a couple of months eg at the heigfht of the financial crisis prices tanked severely, but…[Read more]

IMC Newbury wrote:

RickH wrote:
Spuking is self promotion to drum up business. To be honest there are alot of you doing it. anyone putting the company name and email address with the types of comments like" if you want to invest in this area ….call me " that is self promotion. These forums are for people or investors personel experiences. If…[Read more]

Selling via lease option seems a pretty good way to get rid of any potential issues with property management, make it worth the tennants while to look after the property and pay on time.

HighIncomeProperty wrote:
Alistair,I just wanted to ask (feel like I have to) did she (your buyer) just agree a deal with the seller to assume the mortgage payments, or did she actually sit down with the banks and get them to sign off on it?Reason I am asking is there are thousands of people out there willing to let you assume their mortgages -…[Read more]

USA wrote:
That sounds fantastic!  Alistair who did he get the finance through?

It was a she, and she didn't get it through anyone. It was a pre-forclosure deal and she assumed the existing loan.

I'll give you the actual numbers on a deal a client of mine did in San Antonio with Nigel:Property – 3/2 HouseVal – $80-$90K (Property was already Presold under a lease option agreement for $82,900)Loan – $31K (30 Year Loan at 7.10%)Cost to Client (Net of fees & minor rehab): $20KRented – $825 / monthPITI Payment – $525 / Month (Includes all…[Read more]

Nigel from this forum operates the only service I know of that provides finance as well. They do mit by the investor assuming an existing loan on the property. The reuslt is investors can get exposure to a $100K+ property for around $20K and the loans are generally pretty decent in terms of rate etc. I'm not personally keen on investing in the…[Read more]

I don't know anthing about Kansas, if you have done your homework and it came up as a good place to invest then great. The issue i have with most of the US services is the lack of available finance. 15% return on capital is not great compared to what you can get on a leveraged return on a +ve cashflow property in Australia, also if you aren't…[Read more]

RESULTS is a fantastic program.

Hi Lamp1111,You have received good advice from Jamie. I suggest you contact him or one of the other great brokers on this site to help you set up your loans properly. By borrowing the deposit ijn a split facility you will be maximising the % of your overall debt that is tax deductable, doing anthing but this will cost you money for no…[Read more]

techamitdev wrote:
As someone above has just said that I dont think that going through broker is required if there is an easy application – You are a PAYG – You have liquidity- You have enough other assets to increase the loan amount.thats it!Although I will be interested to know how brokers can give the benefit in regards to giving commiission…[Read more]

4jojo wrote:
I have actually spoken to a few mortgage brokers around Australia and I guess I just haven't found a good one.  That's why I am seeking open opinions from people who have used them and people who have been able to be successful by doing it themselves.Interesting Alistar, you mentioned that you are 'biased because I am one' , glad…[Read more]

4jojo wrote:
Thanks Alistair, but I don't have an attitude towards mortgage brokers.  I'm just looking for advice on which way to go.I am open to suggestions that why I posted on this site.  If people have used a mortgage broker and found them more than helpful (as you mentioned more than just a loan processor) than that's the sort of thing I i…[Read more]

A lot of them are overpriced. The companies that market them all have different structures to their agreements, which is why some are difficult to finance. Some of these companies have also built in very large commissions for themselves which are passed on to the end buyer and as a consequence valuations come up veryt short. Allocations for the ne…[Read more]

Hi 4jojo,I think you should reassess your attitude toards brokers on a number of fronts. Firstly, if a lender gives you the same rate through a broker or direct, why  would you pay for advice so you can do it yourself and end up with the same product. Both you and the broker end up worse off, only the bank benefits. Secondly, you do yourself a…[Read more]

Hi Mccoz,I took today off to take my daughter to music today, so i haven't received your message yet. As it in Melbourne you have a lot more options than in other cities, as there are several specialise constuction funders who have money, but only operate in Victoria and mostly in Melbourne. It is possible to get loans against end value from some…[Read more]

If they are quoting % returns on an investment i hope they have and AFSL and are issuing a prospectus.

As Richard suggested you will only get 80% land value and 80% build cost with a resi facility. Why do you want a resi facility though? It doesn't cost much more to go commercial and, depending where the development is you may be able to get more money, and you can capitalise the interest during construction.RegardsAlistair

Chris Lang has been helping people form private syndicates for years. If you Google his name you will find him easily enough.RegardsAlistair

Hi Tiffany,I would suggest RESULTS Mentoring, which is marketed through this site would probably be a better option. I'm sure you can get feedback from a lot of people on here who have been through their program.RegardsAlistair