The property is ROMA, a regional city in Qld.

Cheers,

Batts

I didnt even think of the Big 2 companies. And to be honest, the standard service may work perfect, but what i wanted is..

-1800 number or similar, utisile the whole “free call”

– abilitiy to store more than just 10 messages, but to 50 or so

– ability to receive more than 1 call at a time and still have the…[Read more]

Late night “infomercials” are also packed with guys selling courses on buying property for 50c in the dollar.

If you do a internet search you’ll find plenty of…[Read more]

I’m living in Seattle Washington at the moment, and will be here for another 12months prior to returning to Oz.

I’m actually flying back to Oz in 2 weeks to attend Rick Ottons bootcamp, in which he’ll cover buying in the USA.

The Seattle market is pretty hot at the moment, and regarded as one of the top 5 hot markets in the USA, along…[Read more]

Cheers,

Batts

I am returning to Brissy from the US in November and am looking to buy an IP. I’m also looking at the Gold Coast right up the GC corridor.

I will watch this topic with interest…

Cheers,

Batts

I really appreciated the feedback and advice. I want to make sure I do as much research as possible prior to jumping into something like this.

The oversupply is a definate concern, but I just need to workout if the underlying population growth/demand will make it worthwhile.

Cheers,

Batts

Sounds like a great deal! Very exciting stuff, and I’m looking forward to learning more at the bootcamp in October.

Cheers,

Batts

Forgetting for a minute it is a sub 50sqm unit, it doesn’t sound like you are dealing with a motivated seller. Hence it doesn’t sound like you are going to get a great deal.

Just a thought,

Cheers,

Batts

I just wanted to know for a baseline what an agent expects if I’m trying to L/O deals through a REA.

JTW, a mexican BBQ sin’t what its cracked up to be, and I’m sick of being asking if I’d like “another shrimp…[Read more]

I was referring to the commission when SELLING a property.

Thanks

It’s reassuring to hear from someone in the business that it CAN be done.

I’ve heard a lot of people talk about it in theory, but unsure if it was actually achievable.

Thank mate.

I’ve heard that Rick Otton is promoting this technique in both buying and selling property. I had assumed that it must be becoming a more “common” practise now.

Do any brokers there have any direct experience with lenders accepting the 20% deposits as vendor financing?

Cheers,

Batts

That is the sort of information I was interested in, so I’ll jump on the website and have a peek.

I’m trying to keep an open mind about types of investing. I’d look at houses, units and also trying to learn more about small commercial (like industrial factory sheds).

As you said, there is always a bargain around if you are prepared…[Read more]

I appreciate the reply.

I’m just trying to get a feel for the growth on the Gold Coast and which suburbs are going ahead.

Anybody know where I can access the future planning information for the Gold Coast region?

Cheers,

batts

I purchased a property in ROMA, Queensland.

Here are the details:

Old house that had been converted into 2 flats, 1×3 bedroom and 1×2 bedroom. Asking price was $92k, I bought for $74k.

Spend $1000 on paint and carpet tiles

Current rents are $120 & $100

Cheers,

Batts

Brilliant post!

I’m a novice in the IP game, but that sure made a lot of sense to me.

I’m sure there are always going to be stats out there to suggest you should either NOT invest now or INVEST now.

Cheers,

Batts

I have read some of those for/against in Dolf De Roos book “Real Estate Riches”, but I haven’t found too much else around. Dolf has an upcoming seminar (4hrs) specifically on Commercial Property so I’ll try and attend that, and no doubt have a look at the course he’ll be selling

Cheers,

Batts

Appreciate your reply, you have reinforced a lot that I have read about the pros and cons.

I have read that the value of a commercial property can be somewhat linked to the lease in place. A secure tenant with a long term lease increases its value.

Is there any logic to the following:

Locating a property (like a factory)…[Read more]

I’ll troll through the forum and see wht I can find.

There definately seems a void of information out there about Commercial – I can see why Dolf De Roos has started conducting seminars on the topic.

I suppose the positive aspect is that there should be less competition out there when buying!

Thanks again ,

Cheers,

Batts

With the Lease option, in its simplest form: you are renting the property out and giving the tennant the opportunity to buy it.

The conditions can be as creative as you like. The term can be as varied as you like, the price can be predetermined, based on future valuation, based on CPI or whatever.

Cheers,

Batts

From what I have seen/read/heard the USA property market seems similar to Australia, in so much as there are boom areas and stagnant areas.

Vegas has finished its boom (where builders are now discounting prices),…[Read more]

Im a rank novice in the L/O market, but my thoughts:

Great cashflow, with $360 rent per week. But with $160 credited back towards the pruchase price you are providing $41,600 in credits over the 5 year term. Meaning your back end profit (minus the credits) is only $5,400. In addition are you crediting the Option fee towards the…[Read more]

I just read your post with great interest as i am considering the pros and cons of Lease Option strategy.

I have also read that it is possible to attach specific conditions to the “Options” contract as oppossed to the “lease” contract.

I am however a little confused with the issue you raise about using the “tenants equity”.

As far…[Read more]

Although I will need to get contracts which are applicable in Oz (Qld specifically)

Really appreciate the contact- it makes life much easier!

i’ll drop them an email and see if they can assist.

It makes things a little difficult when I’m still over in the USA, but it’s good to get the ball rolling.

I have recently moved to Seattle, WASHINGTON from Brisbane and will be here for another year or so. Let me know if I can assist at all.

Cheers,

Batts

Now, next step!

Can any suggest a good Real Estate attorney, I mean solicitor in Qld whom is familiar with Lease Options etc.

Thanks guys..

I have the same question – why cant L/O be done in Qld?

Does it make any difference if they are done on 2 seperate documents, a simple lease or rental agreement then a free standing Option to Buy contract?
That is how they are done over here.

Thanks for your time guys..

Cheers,

Batts