PropertyInvesting.com | Cazza | Activity

Cazza replied to the topic Heading to Bankruptcy :O( in the forum Help Needed!

Tue, 15 Aug 2006 11:14:29 +0000

Hi Gelf,
I guess you are right, but didn’t bury my head in the sand, 3 of the properties were on the market for nearly a year. Perhaps should have got on here sooner to get some of the wonderful advice that this forum and its members have given to me.
Cheers
Cazza
Originally posted by GelF:
…if you do nothing then that is what you are left…[Read more]

Cazza replied to the topic Heading to Bankruptcy :O( in the forum Help Needed!

Tue, 15 Aug 2006 10:41:56 +0000

Another very good idea from you Elka. I would have just tried to get my debt down on my home (if that was the last to go) however you have now given me further information which will be valuable in the times ahead. 1 sold in Homebush Bay but at a $50K loss. The 2nd one hopefully will give me something to work with as you…[Read more]

Cazza replied to the topic Heading to Bankruptcy :O( in the forum Help Needed!

Tue, 15 Aug 2006 10:37:58 +0000

Thanks Lifexperience

Sounds good positive advice I will move on it straight away and let you know how it is received.

So after the 1 year period – I would imagine my role would cease and they pay the full interest amount themselves.?????

Cazza

Originally posted by lifeX:
You are posting just fine Cazza.

Heres a few ideas:

Advertise the 2br…[Read more]

Cazza replied to the topic Heading to Bankruptcy :O( in the forum No Subject

Tue, 15 Aug 2006 10:32:38 +0000

Originally posted by lifeX:
You are posting just fine Cazza.

Heres a few ideas:

Advertise the 2br unit in Homebush for
“$530,000 WITH SPECIAL 4% FINANCE (for first year).” Just get agent to whack a 4% financing bit in the ad. Make sure it stands out.

The buyer will still get his normal financing from bank which would be about 7.5% at the…[Read more]

Cazza replied to the topic Heading to Bankruptcy :O( in the forum Help Needed!

Fri, 11 Aug 2006 08:27:07 +0000

Thanks Elka, some good advice I will keep you posted as to how it goes.

Cheers
Cazza

Originally posted by elkam:
Hello Cazza

I’m anything but a property guru and I hope that someone who is will answer with some constuctive suggestions.

I assume your last loan restructuring was to make all your loans interest only?

I wondered if your unit in…[Read more]

Cazza replied to the topic Heading to Bankruptcy :O( in the forum Help Needed!

Wed, 09 Aug 2006 10:54:50 +0000

Posi properties, oh my wouldn’t I love that! Still love real estate. If I can get myself out of this mess, then I will be looking to downsize to exactly that. Unfortunately mine are now all negative after refinancing etc.

Thank you for posting your reply.

Cazza

Originally posted by grossrealisation:
hi all
couple of things.
first…[Read more]

Cazza replied to the topic Heading to Bankruptcy :O( in the forum Help Needed!

Wed, 09 Aug 2006 10:51:22 +0000

Yes, thought I had done all the right things, however you have to be able to hold in the bad times as with all investing.

Cazza

Originally posted by World Changer:
The banks will quite easily loan u the money.It is not hard to be in front one day then realising u cant keep up with the payments.Possibly the tenants moved out on a few of them for…[Read more]

Cazza replied to the topic Heading to Bankruptcy :O( in the forum Help Needed!

Wed, 09 Aug 2006 10:47:43 +0000

Thanks to everyone for posting a reply. I would like to respond to each of you individually, but not sure I’m doing it right. It looks like I need to make an appointment with my banks in the first instance and see if we can work something out.

I have put further details in relation to my assets in a response to one of the replies however.

Cazza

Cazza replied to the topic Heading to Bankruptcy :O( in the forum Help Needed!

Wed, 09 Aug 2006 10:37:38 +0000

Thanks Elka, I have posted some further details in a reply to one of the responses.

You are right I cannot do this without expert advice, of which I don’t have any. How do I get in touch with these “savvy” people you speak of.

Just a Babe in the Woods.

Cazza

Originally posted by elkam:
Hello Cazza

Really sorry to hear that.

I think if you…[Read more]

Cazza replied to the topic Heading to Bankruptcy :O( in the forum Help Needed!

Wed, 09 Aug 2006 10:25:54 +0000

Unit in Reservoir Vic. Purchased $190K now on sale for around $170K. (Been on the market for about a year). Rented for $170 pw.

2 b/r Unit in Homebush Bay NSW, fully furnished and with a corporate leasing agent. When it is let it brings in $600 – $700 pw.
Owe $380K on the market for $530K but will accept $499K.

Brick 3 b/r home in Central…[Read more]

Cazza replied to the topic Heading to Bankruptcy :O( in the forum Help Needed!

Wed, 09 Aug 2006 10:05:58 +0000

New to this asking for people’s help online, so please pardon my lack of manners.
“Just a Babe in the Woods”.

Originally posted by lifeX:
why do people post here of their dire circumstance. Request help and then vanish off the face of the earth.

So many people ready and able to assist and support and ……. vanish??

Alien abduction…[Read more]