It could be very costly should fire separation need to be installed between each unit…

I’ve found a block of 10 units for sale at $850,000, which could potentially be individually sold for +$120,000 each or rented out for +$220 per week.

Just wondering if anyone has had much experience with this strategy.

– What are the steps involved in Strata Titling?
– How long does the process normally take from start to finish?
-…[Read more]

Thanks for update. A lot has definitely changed since 2014.

I will look into giving you a call next week for more information.

Would Monday, say around 4:30PM suit you?

Cheers,

David

Based on the information from the Sciacci Course, income earned from an Instalment contract is treated as ‘Income from a Business’ and is taxable at the time you receive it.

Hope that helps,

Cheers,

David

What did you to to add value to your property prior to settlement?

Interesting point about the ‘Option’ being a breach of mortgage agreement with the bank.

Are there any ways the owner of the property is still able to provide the seller with an Option to Buy their property at an agreed price, and within…[Read more]

With my next property purchase I am thinking of purchasing run down property, having early access to it prior to settlement for renovation, and then having the property revalued once renovations is completed…

Ideally I’d like to be able to achieve this via a ‘Lease Option’ strategy to minimise…[Read more]

The reason this works really well in a ‘Down Market’ is because you can bring a product to the market that is 30-40% cheaper than everything else.

Example Block of 5 Units:

Purchase Price $470,000
Stamp Duty $15,980 (3.4%)
Strata Titling $11,270 (2.4%)
Basic…[Read more]

I don’t have much assets at this stage.

Was just asking out of sheer curiosity.

But I definitely know who to go to in the future for Asset Protection Advice ;)

The agent that sells gets paid the commission and the agent that doesn’t gets nothing?

Or is it 50/50 regardless of who sells?

I am just going through some videos by Cherie Barber, and she mentions that before any renovations you should obtain an Asbestos Report.

Furthermore, with renovations you should aim to be able to sell for 135% of property value, so in your case $121,000 x 1.35 = $163,350

Have you looked on RP Data…[Read more]

The agents would put more effort in if they know there is competition.

How does Dual Exclusive Agreement work anyways?

Is it 50% split in commission between the agencies regardless of who sells it, or are you able to structure it so that it gives the agent more incentive to sell?

E.g. 25% for both…[Read more]

I’m just watching some of Mark Rolton’s videos and he mentions the concept of ‘Dual Exclusive Agency’ when it comes time to selling your property:

1. You interview 4-5 agents with the best credentials
2. You select 2 of them
3. You ask them both to market your property and have access to 2 databases

My Questions are:

– What questions…[Read more]

I assume the owner of the property would own the shares, or maybe a relative of the owner…

But then instead of your Equity being exposed, your shares in the company would be exposed…

Basically he mentioned that if you had a property worth $1M, a bank might have a loan of $400K, and then you would have $600k exposed equity, which you could somehow protect using an Irrevocable loan…

Just wondering if you can provide more information with regards to ‘Irrevocable Mortgages’ to protect your assets…

– What is an Irrevocable Mortgage?
– How do you utilise this to protect your equity?
– What are the benefits?
– What are the drawbacks?
– How does it compare to having a trust?
– What are the setup costs?
– Are there…[Read more]

Have you thought about ‘Staging’ the property to maximise the perceived value?

Or maybe offering ‘Vendor Financing’ for +20% of the purchase price?

Just my two cents…

David

Just wondering what resources you use to determine where the next BOOM town will be…

Right now, the videos I am watching says to ‘follow the money’…

Find out where the Federal Government is spending money, where private sector is spending money, and where job/population growth are likely to occur…

Apart from the following…[Read more]

I am interested in learning more about Vendor Financing

The Siacci System for Vendor Financing seems appealing based on iClub videos, but I am open to looking into other courses too

Feel free to post in here or shoot me a message if you have courses related to this topic

Cheers,

David

Blessing from God indeed :)

I guess One Man’s Trash (Or Woman’s in this case) is another Man’s Treasure

You mentioned that a lot of buyers were scared off by the Buildings and Pest Inspection Reports:

For this 1 I just kept an eye on the net and originally I had it for a client contracted at $195K(I am a buyers agent)and we got a…

[Read more]

Blessing from God indeed :)

I guess One Man’s Trash (Or Woman’s in this case) is another Man’s Treasure

Stupid question but when people say cash unconditional offer, does it literally mean ‘Cold Hard Cash’ or can you actually borrow from the bank to make this offer?

Also curious about how the renovation was executed… Did you just…[Read more]

Blessing from God indeed :)

I guess One Man’s Trash (Or Woman’s in this case) is another Man’s Treasure

Just have a few questions:

– When people say cash unconditional offer, does it literally mean ‘Cold Hard Cash’ or can you actually borrow from the bank to make this offer?
– Did you resort to completing most of the renovation…[Read more]

Blessing from God indeed :)

I guess One Man’s Trash (Or Woman’s in this case) is another Man’s Treasure

Just have a few questions:

– When people say cash unconditional offer, does it literally mean ‘Cold Hard Cash’ or can you actually borrow from the bank to make this offer?
– Did you resort to completing most of the renovation…[Read more]

Blessing from God indeed :)

I guess One Man’s Trash (Or Woman’s in this case) is another Man’s Treasure

Stupid question, but when people mean cash unconditional offer, does it literally mean ‘Cold Hard Cash’ or can you actually borrow from the bank to make this offer?

David

That’s incredible! Thanks for sharing!

If you don’t mind me asking… How did you go about finding such a bargain property?

Regards,

David