Forum Replies Created
Yes its difficult to get much more detail than what I have explained above.Anyone know what proof you are entitled too as the vendor?
I guess it wouldn't normally be a problem as i'm guessing rarely would the vendor want to recind their acceptance of an offer.
However as I explain above , it does happenRealEstate Investar have switched to using Australian Property monitors. I assume they use the same data as RP and Price Finder
Can anyone confirm this?Yes, Thats my reasoning
Chamberlain I see what you are saying. When I reflect on how I got started in Real estate . It was books. I have Jan Sommers to thank. I read several of hers. They are straight forward, easy to understand and her ideas you can implement without the need for a bootcamp
Having said that, I then went along to a Peter Spann bootcamp and that kicked off my personal property investment journey.
That was just a individual choice I made, and i guess I could have done just as well, had i read only Jans and Peters books.What Rick Otton spruiks is a lot more intense in detail. Yes you need to be in the 20% that actually go out and do it, not the 80% that don't. I guess the more knowledge you can afford, the easier it should be, but that of course doesn't mean it will happen.
As my wife says "Nike"
Thanks for your replies to my question.
I had a lady approach me to buy her house.
She had listed it with an agent a week earlier but called me any way. We signed an agreement, including a price etc. It was a vendor finance arrangement where she would net around $10-$15K. She wouldn't pay agents fees.
2 days later she rings and says, sorry my agent has sold the house. I congratulate her and wish her all the best.
2 days later she rings again, this time in tears and says she thinks she has made a big mistake selling. The price she agreed on, less agents and legal fees left her with $1000 to her name, no where to live and she was unemployed.
She can't prove anything but on reflection she thinks the agent stitched her up. The conveyancer (arranged by the agent) acting on her behalf, she never met until after she signed the contract. She was told by the agent the buyer put down a $700 holding deposit.
At that stage she wanted to back out (realising her mistake on sale price) and then the conveyancer started to get real friendly with her. She felt more so than just professionally. and the agent was saying everything will be fine "you will walk away with a $1000!.
Then the buyer asks for a 2 week extension. Now as the vendor is not the sharpest tool in the shed i'm struggling to understand what the buyer wanted an extension on? I think it was paying the balance of the deposit.
The vendor feels that the conveyancer and agent are working against her in order to secure their fees. I suggested she ask for proof that the buyer has paid the full deposit, but really what right has she got as the vendor, to see the 10% deposit has actually been paid? they could just say" yeah we got it in the bank"
The vendor tells me a friend of hers she found out had used the same agency and was very unhappy with the way they conducted themselves, so i don't think the vendor is without some justification in her feelings
I'm a student of Ricks as you could probably guess from my avatar.
You can spend $25 on a book which shows you how to buy a house for a Buck or you can spend $3000 and 3 days in the company of Rick and his successfull students and learn <moderator: delete language>.
Saying you could spend the $3000 as a deposit on a house (instead of education) is short sighted. If you buy the house instead of the education you can sit around paying the mortgage for 10 years before you see any reasonable capital growth. Sure you might get extremely lucky and buy a CF+ house that makes you $20 a month. And you end up with only one house
The knowledge I have gained in doing Ricks course is staggering. If you want buy a house for a $1, is not just about the the strategies as explained in a $25 book. It is about negotiations with Buyers and Sellers, marketing, legals and paper work,
its even about the language patterns when you talk to vendors. This cannot be taught out of a book. Whether Its Rick Otton or one of the other gurus mentioned above, to have someone stand in front of you that has been doing it for 20 odd years and can tell you everything he has done right and everything he has done wrong really fast tracks your learning.
There's a saying, "You get what you pay for" If you buy a book you will learn, but i believe it will be close to impossible to make a living from what is in explained in these books. Do the courses on offer by these Gurus and you still may not make a living from it, however you got a much better chance.
To be fair it can be harder and involve a lot more work and time to buy a house for $1 than is imagined. On the flip side some of these $1 houses are handed to you on a platter and involve almost no time. It s matter of sifting through the dirt to find the gold
I don't think that i'm saying anything most of you don't already know, however there is a lot of material put out in the market place which really is just a teaser to encourage people to spend the money on the seminars.
I have held multiple IPs for more than 12 years now and I am now looking forward to adding many more without having to go to a bank or visit a Real estate agent
Just out of interest, if the vendor wanted to get out of the contract and had already signed, what issues would the buyer, not have fulfilled, for the contract to be voided?
