Forum Replies Created
Hi Michael,
I appreciate your posts and comments regarding Zaffer & Rolton. Yes I do understand that Rolton/Zaffer are property option, as opposed to Lease Option but as I stated in my initial post South Australia isnt a very friendly Lease Option state, or any type of vendor financing for that matter. So I thought I would try and educate myself on different techniques such as straight property options.
I have actually completed a Rick Otten L/O Bootcamp several years ago, and also a couple of L/O bootcamp whilst I was living in the USA, all of which I found very interesting. I suppose to wet my toes, and with my lack of experience Id prefer to do my first couple of deals close to home, ie in South Australia. This rules out Lease Options. Trust me to move back to the most unfriendly vendor financing state in Australia!
Thanks for the tip regarding Marty Alyes, I will check out his stuff now.
Appreciate your time and posts Michael, thanks for the help!
Regards,
Mark Battersby
I couldn't agree with you more Paul. I read a $18 book on Vendor Financing that I thought contained hundreds if not thousands of dollors in educational value, yet I've done a $3000 course that was very thin on information. Also a lot depends on your expectations. If you are doing a "FREE" 3hr or 1 day introductory course then expect it to be a teaser, propbably missing much of the meat & potatoes required to implement the technique. Yet if you spend $5k+ for a course or $20k+ for a bootcamp/mentoring program you expect no stone left unturned.
DD is the key, hence I thought I'd start here collecting feedback on currect books/courses/mentors
Thanks Paul, its been a long time mate, look forward to chatting/catching up!
Thanks for the reply, I appreciate the advice.
The property is ROMA, a regional city in Qld.
Cheers,
Batts
Hey thanks for the replies guys.
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 callers hear the recorded message (sales script) – and Im not sure if the standard voicemail service does this
– obviously the ability to dial in and retrieve the messages.
Does that make sense? I’m probably making it sound more complicated than it needs to. Sorry if it does guys.
Cheers,
Batts
The foreclosure/preforclosure market is a very competitive business over here. In Seattle you can’t drive 1 miles without seeing half a dozen signs saying, “Stop Foreclosure” signs.
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 material. One guy whom I’ve heard speak on the topic is Paul Wells, whom is based out of Denver. He had a lot of interesting ideas, especially do with creative marketing.
Good luck with your research,
Cheers,
Batts
Hi guys,
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 with places like Pheonix and Florida.
If I can help at all let me know.
Cheers,
Batts
Well at least they both agree it’s a good time to buy, albiet for different reasons.
Yerp, that how they do them her in the USA – double closes.
Cheers,
Batts
Thanks for the post Shelley.
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
Thanks GPS, Yasmina and Gafama,
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
G’day Rick,
Sounds like a great deal! Very exciting stuff, and I’m looking forward to learning more at the bootcamp in October.
Cheers,
Batts
Maruco,
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
As they say here in the US, “It’ all gooooooooood.”, with a hick southern drawl
[biggrin]Hey thanks guys. I’ve only ever sold one property and that was 6 years ago in Adelaide, so I no idea what the “standard” commission was.
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 on the barbie” [biggrin]
Cheers,
Batts
Ah, sorry guys i didn’t make my question very clear.
I was referring to the commission when SELLING a property.
Thanks
Thanks Richard,
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.
Thanks Guys,
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
Thanks JTW,
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 to look for it.
Exciting times ahead no doubt…
Cheers,
Batts
Thanks JTW,
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
Hey Elbows,
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
