why not throw away $35.00 and run an add looking for a dentist to fill the proeprty…. if you get no response…. then you may have an issue filling it when lease comes up…. if you get lots of response… you can then find one that will agree to longer term (3 years) and once you have this sorted out … Serve the Sucker!-the old dentist…

I did the same as IQ and now most of my transactions are done to the verbal agreement over the phone as I know my areas very well. I get agent that contact me all thetime with the deal of the century …. and usually after a few minutes over the phone I can work out if I am gong to bother getting out of my seat and even look at the property.…[Read more]

Hey there,

Just a suggestion:
Sometimes it is better to crawl before you walk. Once you have learnt and tested your investing system then you can reproduce your machine in other countries. I would need to go accross the ditch to source all of the relevant information and market research prior to parting with hard earnt cash.

This way you can…[Read more]

Hey there,
Depends whether you want:

positive gearing = makes money after tax considerations and taken into account… or

positive cashflow = puts money in your pocket prior to any tax considerations at all.
I secure positive cashflow props in Metro without a problem. – you do need to know what you are doing to do this though.
Cheers,
Kiwi
[baaa]

Originally posted by FireCaesar:
Thanks for the contributions (Terry & Robert).

Steve, do you mind talking more about this “investing system that identifies solutions to a range of problems”? I don’t quite ‘catch the ball’.

I believe Steve is reffering to building a business system that does the complete A – Z on property transactions:
-Sourcing…[Read more]

Hey thanks for the constructive response…. at least I am trying to come up with a solution… what are you trying to do apart from rubbish other opinions or ideas (that I really care anyway)?

Sure….I have based my figures on theoretical assumptions … but I am sure if the real figures were known I could sort out a transaction that works for…[Read more]

Solution?

HOw about this:

A) Lease OPtion:
****************
1. Offer the owner $5K (as a lease option fee= $18,000 strike price) to relocate. – Comes off the price of course if option is excercised .

2. Pay $60/week to her to look after her outstanding mortgage.(estimated cost to her is $26/week based on 16K@7% on 25yr term)

3. Of the…[Read more]

hmmm interesting how not reading terms of the contract can make someone mad with oneself and yet lay blame on others.

If you had a half solicitor then they should have disclosed all that had not been in the interest of the Vendor to do so.

Business is business. Sometimes from time to time, as hard as it is …. we all have to take responsibility…[Read more]

Originally posted by resiwealth:
Just go and find some really desperate and broke Australians (not hard to do)then screw them for an interest rate above what you are paying the bank and hope that the interest rates don’t go up.

Like you sense of humour! [biggrin]
It is not uncommon to offer interest rates of 3% to a wrap buyer… and sell for…[Read more]

Robert,
I conceed your point – I am meerly trying to demonstrate that you would not need to go there if you have your plans in place ready for the day of default (hoping that it is never going to happen of course).

EG> you have bought the property at a good enough discount so that if you need to get out fast…. you can sell or flip at the drop…[Read more]

Ha Ha…. Yur Frind in the Frudge! -MainLAND CHEESE [biggrin]
[baaa]

Fantastic [biggrin]
I think we are all clear now as argument has been made from each side with amicable results.

I generally do not get into a transaction if it is not putting cash in my pocket today! (unless balancing my portfolio of course). You never know what the local or national government bodies are brewing up to make the average investors…[Read more]

Originally posted by The Mortgage Adviser:
Kiwi, a few things…

Foreclosure is an American thing, not Australian. As to why a wrapper would default, if they were struggling to make payments, they may default. As to coming up on the radar, you cannot list them with Baycorp Advantage so that won’t happen either. You would have to sue them for any…[Read more]

Originally posted by The Mortgage Adviser:
You are leasing a property for the purpose of receiving an income. This makes it deductible.

Robert Bou-Hamdan

Hi Robert.
Perhaps I have missed your point…. If you are receiving rent that exceeds the rent that you are required to pay… and not paying rates…landlord insurance…water (not excess…[Read more]

Fantastic Ideas everyone… what if you took a lease option on the mobile home? this way you do not have to deal with the lenders at all.
1. You could negotiate some equity into the deal with each payment.
2. You would have more to offer a lender if your venure included a cashflowing business venture… and a solid long term lease that you have…[Read more]

hey there… teh golden rule is about the same as the global percentage of wealthy people 2-3% of the world population are wealthy … do not need to work and make plenty of passive income to never have to work again in thier lifetime…. the same applies for students of the world. Of all those that educate themselves… 2-3% will apply the…[Read more]

What is your strategy….. income today and less capital growth…. or little to no income today and capital growth later? Negative gearing negative cashflow,Negative gearing and positive cashflow, or positive cashflow?

the world is your oyster… you just need to define what it is that you want to aim for and make is crystal clear so that you do…[Read more]

depends on how much income you wish to make and what time frame you wish to do this in.

Originally posted by The Mortgage Adviser:
I don’t see the not being able to claim depreciation as an issue. The whole payment is deductible – as opposed to interest only – so the tax benefits are huge if you are looking for that. If you spend money on improvements / repairs (whichever one is permitted), they can be depreciated.

I think the…[Read more]

Originally posted by gilad:

At the moment i don’t have enough money for property

That is an interesting belief…. It sometimes is not about owning the property…. but controlling it and reaping the rewards. – I have secured 300K properties for $1.00 each. how many can you get at that reate???? as many as you can get.