hi all,

i would like to add a point of discussion if i may. i am in a similar boat to EdmundSt. i have IP1 currently being vacated by tenants this weekend. i engaged a building inspector for the property as there has been some movement in the house due to the locaiton being in the hills of perth. the outcome of the inspection was that half of the house is moving down the hill and splitting on the walls and possibly the foundations. there are also some big trees in the back yard, the roots are lifting up the house. So i am going to have to patch up the cracks internally and externally, re-paint ready for either another tenant to go in there or just sell it on now. The issue with getting another tenant in there is that after two years the cracks will be back again and i will have to go through the same process if i want to sell in on in 2 years time.

I have 252k mortgage on the IP and the real estate agents think it could get 375-395k. the plan is to re-invest the profits into another IP for off the plan or home and land package so i can maximise the tax offsets for IP's.

question is should i keep the IP or cut my losses and sell it after 3 years of ownership? i need to work out how i can do the repairs cheaply and quickly in order to do either options.

cheers

Hi batts,

i recently attended mark roltons property options course. i attended an intro course in perth and then signed up for the 3 day boot camp covering options plus more. for me it was worth the money, as it short cut the amount of research i needed to do, and also if i wanted an opportunity to go joint venture with Massland, Mark's company to undertake deals and with no capital i could attain deals through an option contract and get 20% of the profit depending on the project type for the first deal and 35% for subsequent deals. The course content including, cash flow techniques, property options and other strategies like SMSF, developments. using subdivisions. I total over view. As i expected there was more money to be spent ta the 3 day boot camp, with a further training course called conclave, which massland go joint venture in bigger deals, like $5million-25million worth of capital to fund projects the development project life cycle. Here the slit is 80% your cut and 20% Massland, you have to find the deals, and make the first face to face nogiation, but you have access to the team advising you all the way through

I was skeptical so, i came back and i have a lawyer reviewing the JV criteria and contract, while i educate myself on the ins and outs of options and working towards development, and then i make take the course if i need the funding.

If anything Mark Rolton is an amazing salesman, and a good motivational speaker. I dont think options ar eas easy as hes making out to be, you have to find a seller that doesnt really know the market, if you add value to a property and make a profit from it, more than likely the seller will realize what they aresitting on, and will be hesitant about signing a contract for optioning the property with a 1k. option fee – will be quite challenging. But good experience in negotiation none the less.

I have downloaded quite a bit of material, to go with the option cd set the i was provided with marks course, like Robert Kiyosaki, and other investment books.

I think Perth, there is a lot of opportunity so this is a good training ground, im am starting to network, so i can find a mentor in Perth undertaking similar strategies.

Good luck