PropertyInvesting.com | MrFairGo | Activity https://www.propertyinvesting.com/members/mrfairgo/activity/ Activity feed for MrFairGo. Sat, 11 Apr 2026 23:56:14 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 8d952593a0039fc08ec4b92da07043c7 MrFairGo replied to the topic Curious about Titles on Installment Contracts in the forum Creative Investing https://www.propertyinvesting.com/topic/4396916-curious-about-titles-on-installment-contracts/page/2/#post-4607518 Sun, 01 Apr 2012 22:17:45 +0000 Hi MattPaul is quite correct.  It can be written in at the start.We have both scenarios operating: houses we are buying with an Instalment Contract and reselling via a Lease Option, and houses we are selling with an Instalment Contract and the buyer is renting it out.  But as Paul says… it needs to be in the contract at the start.  Our NORMAL IC…[Read more]

]]> 837d9874b2b069f18f049723751828bf MrFairGo replied to the topic Seminar - Mark Rolton in the forum Creative Investing https://www.propertyinvesting.com/topic/4392726-seminar-mark-rolton/page/12/#post-4584952 Wed, 20 Apr 2011 07:19:10 +0000 Personal Leadership Development wrote:
MR. FAIR GO, PLEASE EXCUSE THE CAPS….YOU MENTIONED YOU PUT AN OFFER …?

Hello Personal LeaderHappy to answer your questions, but I can't find my own post that you are asking about!    Please show me where the post is that you are referring to – we have done a lot and I need to refresh myself on what d…[Read more]

]]> ac1a5c86d0e91bf3a863ae3451e91397 MrFairGo replied to the topic Rent now considered genuine savings in the forum Creative Investing https://www.propertyinvesting.com/topic/4402264-rent-now-considered-genuine-savings/#post-4638595 Thu, 23 Dec 2010 05:50:23 +0000 I didn't comment one way or t'other, I just brought the news item to your attention.   :)But I am hoping that the news item means that this bank will more readily take into account the "to-own" part of a "Rent-to-own" payment as "savings"Currently we have to jump through all sorts of hoops to get a bank to allow those as "savings."  Most lenders ar…[Read more]

]]> 68cbcb8c958bb5f5d7a6ef4dfea13f99 MrFairGo replied to the topic Finding people for the deals in the forum Creative Investing https://www.propertyinvesting.com/topic/4402224-finding-people-for-the-deals/#post-4638375 Thu, 23 Dec 2010 01:58:52 +0000 Hi NLocal notice board is a great one, but not all noticeboards are created equal.  Test, test, test.  Our area has four or five of them, but only one, outside the local IGA supermarket,  is really effective.  And they get so many notices that the supermarket pulls them all down regularly and starts fresh.  I keep a bunch of fliers (with litt…[Read more]

]]> 84e5f7aeee85484d635026e6c929abad MrFairGo replied to the topic Renting by the room in the forum Creative Investing https://www.propertyinvesting.com/topic/4401822-renting-by-the-room/#post-4635758 Thu, 23 Dec 2010 01:07:53 +0000 PGD wrote:
Hi all,It seems renting a house by the room is a good way to leverage the property. In reality does it work?What are the pros and cons of doing this?Mario

In Queensland at least, there are restrictions on the number of people (not related) who can occupy a house in this way.  Max is 5 before you need a licence.  In our town many ow…[Read more]

]]> 70cca7e4581f9951abcf84c404d66907 MrFairGo replied to the topic Who are the best clients for a wrap? in the forum Creative Investing https://www.propertyinvesting.com/topic/4401941-who-are-the-best-clients-for-a-wrap/#post-4636600 Thu, 23 Dec 2010 01:03:21 +0000 propertyjockey wrote:
Who are the best types of people to wrap with and why?PJ

Hi PropertyJockey,As you already appreciate: the ones who give you the least trouble in achieving your aims with wrapping. Besides the very wise advice you have already received to check out their current living conditions and employment etc, consider a newish…[Read more]

]]> 56f72bec5cf467eb9e798a81ed21cb2c MrFairGo replied to the topic A greenhorn, a newbie, a neophyte in the forum Help Needed! https://www.propertyinvesting.com/topic/4401311-a-greenhorn-a-newbie-a-neophyte/#post-4632571 Mon, 27 Sep 2010 06:51:10 +0000 JacM wrote:
 use the first home buy grant to acquire your first property… live in it for 6 months, then move out and put tenants in it?  The extra cash from the grant will be really handy…

I'm sure you meant "twelve months" to fulfil the grant conditions.  :)Mr Fair Go

]]> 393e6dec9d799926e9f793ee53d19dff MrFairGo replied to the topic A greenhorn, a newbie, a neophyte in the forum Help Needed! https://www.propertyinvesting.com/topic/4401311-a-greenhorn-a-newbie-a-neophyte/#post-4632563 Sun, 26 Sep 2010 22:29:53 +0000 G'day TelevisionRead the classic "Rich Dad Poor Dad" and other books by Robert Kiyosaki to get some theory and mindset.  If you'v e already done so (I I suppose you have) move straight on to #2…Read John Burley's "Australia's Money Secrets of the Wealthy" to get an overview of a bunch of strategies and a lot of practical help.  This will r…[Read more]

]]> 90245305491109590c61bcf40724b237 MrFairGo replied to the topic Looking for a "Mentor" in regards to Property Options - Melbourne based ideally in the forum Creative Investing https://www.propertyinvesting.com/topic/4391970-looking-for-a-mentor-in-regards-to-property-options-melbourne-based-ideally/page/3/#post-4580927 Sun, 26 Sep 2010 22:07:26 +0000 Davidqld wrote:
Re Mentors etcHi everyone, Mudassar , My Fair Go, Matt and others ….I would be very interested to talk with anyone who is doing options or is keen to.David  

Like Matt said, Please email me: mrfairgo  at  mrfairgo.comMr Fair GoA fair go for investors, home buyers, and sellers.

]]> 9749c3797d19049a9454f8b81d636d42 MrFairGo replied to the topic Looking for a "Mentor" in regards to Property Options - Melbourne based ideally in the forum Creative Investing https://www.propertyinvesting.com/topic/4391970-looking-for-a-mentor-in-regards-to-property-options-melbourne-based-ideally/page/2/#post-4580918 Tue, 19 Jan 2010 02:23:13 +0000 “Is any one doing optios at the moment. can any one tell me that they actually did the option and executed the deal . and have made money”

Yes.

Yes, yes, and yes.

Mudassar, there are dozens – probably SCORES if not hundred of people making money with this technique in Australia right now. It is nearly as old as the country itself.

Of course,…[Read more]

]]> 97564aadb26e674fd27abe127f36bb2c MrFairGo replied to the topic Re-potting a house in the forum Creative Investing https://www.propertyinvesting.com/topic/4397188-re-potting-a-house/#post-4608793 Wed, 09 Sep 2009 06:16:23 +0000 Look in the Yellow pages for "House Removalists" or similar, ring some and get some offers.  That will give you a starting price.  Expect about $5-10k.  (yes, that's all they will offer unless it is modern!)Then put an add in your local paper "House for removal" and at least double whatever you were quoted by the pros.BTW some councils accept bo…[Read more]

]]> 7d5ba281ab2bc44ee35e627cc6d405d5 MrFairGo replied to the topic Curious about Titles on Installment Contracts in the forum Hi Guys! A few comments, https://www.propertyinvesting.com/topic/4396916-curious-about-titles-on-installment-contracts/page/2/#post-4607514 Wed, 09 Sep 2009 01:47:48 +0000 Hi Guys!A few comments, relevant I hope, based on my 8 years of experience with dozens of Instalment Contracts and Lease options in Queensland:Mal & Jean, it is correct that you have to pay the Stamp Duty upfront with an Instalment Contract purchase.  However, if you are an owner-occupier and this is your principal place of residence, you should…[Read more]

]]> 4768e8686140391f4c81f2401fc40dfd MrFairGo replied to the topic Re-potting a house in the forum Hi Lockymac This will not be https://www.propertyinvesting.com/topic/4397188-re-potting-a-house/#post-4608791 Wed, 09 Sep 2009 00:37:30 +0000 Hi LockymacThis will not be a "free house"!  I take it you've talked to the local council?They generally require a bond to make sure you will finish what you've started (think $20-30k deposited with them)They also require these days that the finished moved building completely meets CURRENT building codes.   Often this requires a new roof, even if…[Read more]

]]> f6ad1a367c3dbcb60e9d656d57d5aa7e MrFairGo replied to the topic Looking for a "Mentor" in regards to Property Options - Melbourne based ideally in the forum Creative Investing https://www.propertyinvesting.com/topic/4391970-looking-for-a-mentor-in-regards-to-property-options-melbourne-based-ideally/page/2/#post-4580913 Mon, 11 May 2009 15:01:15 +0000 markymark84 wrote:
Hi MyFairGo,Any advice?

Well, first read Steve's disclaimer, that this site is not providing "advice" that should be relied upon without checking with your professional.  Having said that, save like mad, coz the "no money down" deals are too far apart to make a living with only them."Comparatively little money down" deals…[Read more]

]]> b533676649cb45f93615224fe2b6612f MrFairGo replied to the topic Looking for a "Mentor" in regards to Property Options - Melbourne based ideally in the forum Creative Investing https://www.propertyinvesting.com/topic/4391970-looking-for-a-mentor-in-regards-to-property-options-melbourne-based-ideally/page/2/#post-4580910 Mon, 04 May 2009 07:35:17 +0000 Matt007 wrote:
' PM me

Hi Matt – Tried, but "Matt007 is not accepting e-mails."   Can you please edit your profile to allow PM, or else PM me first so I can reply?thanks

]]> 3dd9963899a7d2581e4168ce5e2cbdb7 MrFairGo replied to the topic Looking for a "Mentor" in regards to Property Options - Melbourne based ideally in the forum Quantum Leap, what sort of https://www.propertyinvesting.com/topic/4391970-looking-for-a-mentor-in-regards-to-property-options-melbourne-based-ideally/page/2/#post-4580908 Sun, 03 May 2009 13:21:48 +0000 Quantum Leap, what sort of option deals are you wanting to learn about?I personally don't do the "option and DA then sell the deal" type, but I do the "Option and improve and onsell" or "Option a discounted property and flip."  It's a lower profit than those "DA" guys all talk about (assuming those are "real"), but I find my way of doing deals…[Read more]

]]> 065f8278c003a84e9280c97a179b6197 MrFairGo replied to the topic who here has taken a negative turn to investing with all the media pessimism in the forum Creative Investing https://www.propertyinvesting.com/topic/4396058-who-here-has-taken-a-negative-turn-to-investing-with-all-the-media-pessimism/#post-4603041 Sun, 03 May 2009 13:13:47 +0000 "…interested in people views on what their strategies are now, if any, or are you sitting on your hands for the time being. Is it because the newspapers are telling everyone it's recession time, you are going to lose your job or some other horrible occurance is certain to befall you. On the other hand interest rates are the lowest they have been…[Read more]

]]> b4683ba08f7027d0ed3a93a5be21a7de MrFairGo replied to the topic Mortgage Broker who will step up to the crease please. in the forum Help Needed! https://www.propertyinvesting.com/topic/4393986-mortgage-broker-who-will-step-up-to-the-crease-please/#post-4591731 Thu, 14 Aug 2008 01:51:14 +0000 Oh Well.  Time to get more creative.There is a way to give these people a fair go – I just have to find it!Mr Fair Go

]]> ba345b7e91440a17a5400e3f704a8bef MrFairGo replied to the topic Selling and buying a property on the same day in the forum Creative Investing https://www.propertyinvesting.com/topic/4393589-selling-and-buying-a-property-on-the-same-day/#post-4589525 Sat, 05 Jul 2008 08:18:01 +0000 If you have a purchase contract that is within about 30 days, most banks will transfer the security as you describe.Cheers

]]> 22579641168562c7c17fa356e274edab MrFairGo replied to the topic Possible to make multiple offers? in the forum Creative Investing https://www.propertyinvesting.com/topic/4392698-possible-to-make-multiple-offers/#post-4584560 Sat, 07 Jun 2008 09:16:49 +0000 We recently lost a sale because, even  after several extensions, the buyer could not get finance.Our solicitor sent me a bill for $330 for his time, being a lot of communication with the buyer's solicitor.  Ouch!So if a buyer comes to me and wants to buy our house, I want to know they are likely to go ahead with the purchase.Having said that, I m…[Read more]

]]> a0f340b6b8c4bb3d37133b8bd33d1576 MrFairGo replied to the topic Property Purchase Option Agreement in the forum Creative Investing https://www.propertyinvesting.com/topic/4393404-property-purchase-option-agreement/#post-4588490 Sat, 07 Jun 2008 09:02:09 +0000 p.s. This scenario is just ONE way to do a SLO.There are hundreds of variables: you may give the seller more or less (just 50c perhaps) longer/shorter terms, etcAnd your purchaser as well: different amounts for rent credit (if any at all), different length, and on and on.Basically you need to talk with the seller long enough to find out what will…[Read more]

]]> 353262dc4251788b3e3ae8a5b934f622 MrFairGo replied to the topic Property Purchase Option Agreement in the forum Creative Investing https://www.propertyinvesting.com/topic/4393404-property-purchase-option-agreement/#post-4588489 Sat, 07 Jun 2008 08:51:11 +0000 Hi ScottAs Paul & Karen say, a Sandwich Lease/Option (or SLO) is what you are asking about.You ask "what about…?"Can you be more specific as to what you actually want to know?  There are plenty here who will be happy to answer your questions once we know what you want. This is a very powerful strategy to control many properties with minimal…[Read more]

]]> 0b42a5157dfeb7ac184665dea082c380 MrFairGo replied to the topic Help requiried I want to lease a portion of my rural land to myself then sell the block minus the leased part in the forum Creative Investing https://www.propertyinvesting.com/topic/4393077-help-requiried-i-want-to-lease-a-portion-of-my-rural-land-to-myself-then-sell-the-block-minus-the-leased-part/#post-4586332 Fri, 16 May 2008 13:33:54 +0000 There's also Group Title, (in QLD at least) which allows separate ownership without actual subdivision.  In our shire a lot of 20-acre blocks were converted to Group Title so they could be sold in 2-5acre parcels.In practice there is joint ownership of common land like roads, (and the parties have to maintain and insure that), then there are…[Read more]

]]> 7ab6f1a4b4eabaf174deb42ab81ddad8 MrFairGo replied to the topic Short Sell Property - US strategy in the forum Creative Investing https://www.propertyinvesting.com/topic/4393167-short-sell-property-us-strategy/#post-4586688 Fri, 16 May 2008 13:19:45 +0000 I understand that "assuming" mortgages is possible in Australia, but not easy, as I have been told you need about 6 documents to do it.I'd love to find out how though!  It's apparently part of the GoDirect syllabus.

]]> 2dc5796af5a21f3d1a3a911d56bfbc61 MrFairGo replied to the topic Second hand Wrap Kit & Lockboxes in the forum Creative Investing https://www.propertyinvesting.com/topic/4393134-second-hand-wrap-kit-lockboxes/#post-4586531 Fri, 16 May 2008 13:06:04 +0000 We also use lockboxes.  (Make sure you leave a pile of application forms on the kitchen bench for the purchaser to take home, fill in, and fax to you)I saw the lockboxes advertised on as Aussie creatively-focussed real estate site, but we bought ours from USA – http://www.padlocks4less.com/shurlok.  Tried on eBay but they would not post to AU.  Ev…[Read more]

]]> da8b5f54af716060178b5b5365b43778 MrFairGo replied to the topic which software for rent to own statements? in the forum Hi Tony We too were using MS https://www.propertyinvesting.com/topic/4392718-which-software-for-rent-to-own-statements/#post-4584680 Tue, 22 Apr 2008 18:25:57 +0000 Hi TonyWe too were using MS Excel to track Rent-to-Owns, and similarly found it a little cumbersome.  Especially when they paid odd amounts or were late with their payments.However, we recently altered the way we do our Rent-to-Owns, and now it's a breeze.  We still use Excel, but it takes less than ten minutes per customer per month to prepare t…[Read more]

]]> 33604bf61b376b26cbfd320cca7aa644 MrFairGo replied to the topic Seminar - Mark Rolton in the forum Creative Investing https://www.propertyinvesting.com/topic/4392726-seminar-mark-rolton/page/2/#post-4584738 Tue, 22 Apr 2008 18:12:28 +0000 Rick's course worked for me. Bought the home study course a few months ago – have now done a few Lease Options. They are a little easier than Wraps, and have some advantages. Less profit, but quicker profit (e.g. one year instead of 3-5) and the "Sandwich" L/O means you may be able to structure deals where you don't need much (if any) cash up…[Read more]

]]> 33604bf61b376b26cbfd320cca7aa644 MrFairGo replied to the topic Seminar - Mark Rolton in the forum Rick's course worked for me. https://www.propertyinvesting.com/topic/4392726-seminar-mark-rolton/page/2/#post-4584738 Tue, 22 Apr 2008 18:12:28 +0000 Rick's course worked for me. Bought the home study course a few months ago – have now done a few Lease Options. They are a little easier than Wraps, and have some advantages. Less profit, but quicker profit (e.g. one year instead of 3-5) and the "Sandwich" L/O means you may be able to structure deals where you don't need much (if any) cash up…[Read more]

]]> 4429be5794bf4b7b38913a00dc743417 MrFairGo replied to the topic Seminar - Mark Rolton in the forum Creative Investing https://www.propertyinvesting.com/topic/4392726-seminar-mark-rolton/page/2/#post-4584738 Tue, 22 Apr 2008 18:12:28 +0000 Rick's course worked for me. Bought the home study course a few months ago – have now done a few Lease Options. They are a little easier than Wraps, and have some advantages. Less profit, but quicker profit (e.g. one year instead of 3-5) and the "Sandwich" L/O means you may be able to structure deals where you don't need much (if any) cash up…[Read more]

]]> 65e3cc4246f0bb3b980bb8779fa5bd94 MrFairGo replied to the topic Need advice for property investment in Edmonton!!! in the forum Creative Investing https://www.propertyinvesting.com/topic/4392984-need-advice-for-property-investment-in-edmonton/#post-4585999 Tue, 22 Apr 2008 13:49:28 +0000 Edmonton?  Just-South-Of-Cairns-Edmonton?I may be able to assist if so.

]]> 1b8e2f05258da8c27f35c3b65af5ce90 MrFairGo replied to the topic Short-term Private money sought - 10% secured. in the forum Creative Investing https://www.propertyinvesting.com/topic/4392639-short-term-private-money-sought-10-secured/#post-4584226 Sat, 15 Mar 2008 09:17:24 +0000 Hmm.  Come to think of it, CBA have several times given me an unsecured overdraft when needed for a week or two between settlement and when they could get their paperwork act together.  But it has always been their idea.  No reason I couldn't suggest it to them I guess!Thanks for that Richard  – I will try it on Monday before I take the 11.…[Read more]

]]> 1e56097a2bf80fb856818d2bdf7e439d MrFairGo replied to the topic Short-term Private money sought - 10% secured. in the forum Creative Investing https://www.propertyinvesting.com/topic/4392639-short-term-private-money-sought-10-secured/#post-4584224 Sat, 15 Mar 2008 04:37:45 +0000 Hi Foundation and Qlds007,We actually have a number of entities (companies and a trust) and have been wrapping and Lease-Optioning and renovating since 2002.Naturally I am not putting a balance sheet out in public, but suffice to say at this point we have 15 properties on the books, and current LVR at CBA about 65%.  I can go back to CBA but I…[Read more]

]]> 5ddcac2726ff464352189c08437365c5 MrFairGo replied to the topic Short-term Private money sought - 10% secured. in the forum Creative Investing https://www.propertyinvesting.com/topic/4392639-short-term-private-money-sought-10-secured/#post-4584223 Sat, 15 Mar 2008 04:25:47 +0000 10% p.a. , not per month.I already have offer at 11.5%p.a. plus costs, for 6-mo loan (min).I will accept that on Monday at 4:30pm unless someone wants to offer a slightly shorter term (e.g. 4 mo) or a lower rate (e.g. 10% p.a.) in the meantime.CheersMr Fair Go

]]> f52fa1386178d55c6a7e53f60b9f74d7 MrFairGo replied to the topic Business partner in the forum Creative Investing https://www.propertyinvesting.com/topic/4392434-business-partner-2/#post-4583325 Mon, 25 Feb 2008 22:54:59 +0000 Hi there DomWhat do you anticipate that you and your business partner will do?  Since you put this post in the "Creative Investing" forum at PropertyInvesting.com, we assume some sort of real estate deals?e.g. Wraps? Lease Options? Development?Did you have one or more of these in mind, or something else?Hmm.  I realise I have merely thrown six q…[Read more]

]]> 03f3ed8c2947a3dd8fb5f99d4107dc7d MrFairGo replied to the topic $350K and no income. in the forum Hi GavH In this era of https://www.propertyinvesting.com/topic/4392261-350k-and-no-income/#post-4582498 Mon, 25 Feb 2008 22:49:33 +0000 Hi GavHIn this era of rapidly-changing interest rates, you need your return t be tied to (at least) the Cash Rate Target to ensure your income  "rides" above the rate at which you are paying for your money.For further suggestions on HOW to do that with residential real estate, call me.  1300 76 22 25

]]> 7f41fcdc544d4f065c8ba4f1f6686076 MrFairGo replied to the topic Using a Wrap as a negotiation with the bank in the forum Our solicitor tells us that https://www.propertyinvesting.com/topic/4392145-using-a-wrap-as-a-negotiation-with-the-bank/#post-4581851 Sat, 02 Feb 2008 02:20:53 +0000 Our solicitor tells us that with a Developers License in QLD you need to deposit the installments with the government until the final payment when you are selling a property you own without an agent being involved.That's why at his suggestion we now have three separate entities, that allow us to do six times three _new_ wraps per year.Another way…[Read more]

]]> c8590cadad82a9a8bc8dcc5d203d2d72 MrFairGo replied to the topic 60K to spend the best property Options in the forum Creative Investing https://www.propertyinvesting.com/topic/4392154-60k-to-spend-the-best-property-options/#post-4581916 Sat, 02 Feb 2008 01:59:36 +0000 You are in for some fairly advanced calculations, but…I'd go through the TOTAL savings of paying down your home loan, over, say 3 years…then see how that amount stacks up against what else you can do with it.Personally, with 60k  I'd try to control about 6 houses that return $100/week each (clear) plus a lump sum of about $30k each within the…[Read more]

]]> c38ded2a54da40f399a4a15242777116 MrFairGo replied to the topic no deposit purchases in the forum Creative Investing https://www.propertyinvesting.com/topic/4391040-no-deposit-purchases/#post-4575384 Mon, 17 Dec 2007 01:20:55 +0000 Chris.hemsworth7 wrote:
Hi guys I have been working in real estate for about 2 years now recently I have done quite a few no money down deals for my clients mainly new distressed properties 15% to 20% under valuation if you are serious email me and I can send you out some of the deals I get.

ChrisAs mentioned above, you unfortunately left no…[Read more]

]]> 2ef5d9b4ec942a5ebaf4c538bbebd3c2 MrFairGo replied to the topic Commbank & Fees and Charges seem big in the forum Finance https://www.propertyinvesting.com/topic/4391643-commbank-fees-and-charges-seem-big/#post-4578502 Mon, 17 Dec 2007 01:09:54 +0000 Hi BoshyMaybe this helps…We have moved through the CBA system over the years.  First we started with 5 loans at once via the regular "retail" route.  Well, I guess it wasn't quite "regular" in that  a friend who is a mortgage broker introduced us to the bank manager and suggested he write up the 5 loans for us… which he did.We stayed with th…[Read more]

]]> bab8fc901e1d2f85ca56575bd5de6537 MrFairGo replied to the topic Hello everybody, wrap info? in the forum Creative Investing https://www.propertyinvesting.com/topic/4391639-hello-everybody-wrap-info/#post-4578488 Thu, 13 Dec 2007 06:08:20 +0000 Also read "Australia's Money Secrets of the Wealthy" by John Burley.  There's a chapter on wrapping.(We also have Steve's kit, plus Rick's Lease Option pack… and have been wrapping since 2003, mainly using John Burley info suplemented by Steve's.  Only recently moving into L/Os.)Cheers

]]> 906c3f6cd502e1c727163d16427b279d MrFairGo replied to the topic Hedge to protect Trans-Pacific investment? in the forum Overseas Deals https://www.propertyinvesting.com/topic/4391547-hedge-to-protect-trans-pacific-investment/#post-4577956 Sun, 09 Dec 2007 23:24:37 +0000 Thanks heaps Elka!   I will check it out.

]]> c0e754849a52e628abf9f3fe73f22f97 MrFairGo replied to the topic First timer 'CONTRACTS RENT TO BUY" in the forum Creative Investing https://www.propertyinvesting.com/topic/4387503-first-timer-contracts-rent-to-buy/#post-4557904 Mon, 03 Dec 2007 08:04:52 +0000 Hi CelesteDon't wait for THEM to create the offer: YOU get your solicitor to do it as if from them, and they sign it.  Nowhere is it written that the buyer HAS to create the offer!    BTW, write in the option that they pay for your solicitor to prepare the docs.Get some deposit first though, you don't want to be spending money at your sol…[Read more]

]]> d101baa30f24e68c2920ba5a3b51c17b MrFairGo replied to the topic First timer 'CONTRACTS RENT TO BUY" in the forum Way to go, Celeste! Tip:  https://www.propertyinvesting.com/topic/4387503-first-timer-contracts-rent-to-buy/#post-4557902 Sun, 02 Dec 2007 13:43:40 +0000 Way to go, Celeste!Tip:  Keep marketing even after you think you have a buyer.  Until they sign on the line, keep marketing.Cheers

]]> 92d7b41131e79997f74a1c2b9a6ad6bd MrFairGo replied to the topic First timer 'CONTRACTS RENT TO BUY" in the forum "Basically is it a standard https://www.propertyinvesting.com/topic/4387503-first-timer-contracts-rent-to-buy/#post-4557900 Sat, 01 Dec 2007 10:35:14 +0000 "Basically is it a standard rent situation  in regards to $ bond / rent in advance / rent  and then you add an extra contract which is the option and includes the option deposit and the extra rent that is to be credited?"Yes.  :)Usually you would write in the option contract that you will ONLY give rent deposit credit for weeks where the rent wa…[Read more]

]]> 8770128440c85b694e998bd00e5bb845 MrFairGo replied to the topic First timer 'CONTRACTS RENT TO BUY" in the forum Creative Investing https://www.propertyinvesting.com/topic/4387503-first-timer-contracts-rent-to-buy/#post-4557898 Thu, 29 Nov 2007 03:59:24 +0000 Hi TrudeWe are using Rick Otton's contract for this purpose.  I took it to our solicitor in Brisbane.  He said "I hope you didn't pay a lot for this, because it's the same as the ones we use all the time for developers".  It was part of a pack, and I am very happy with the price we paid BTW, but the point is that if you go to the right lawyer (o…[Read more]

]]> f596c80f5af2ff254ca8fb43a959cca8 MrFairGo replied to the topic Syndicate Idea Domestic Property Purchase & Development in the forum Creative Investing https://www.propertyinvesting.com/topic/4391443-syndicate-idea-domestic-property-purchase-development/#post-4577208 Wed, 14 Nov 2007 10:53:46 +0000 Hi TelkenYou may find a lot of relevant comments in the recent thread "starting a syndicate"https://www.propertyinvesting.com/forums/property-investing/creative-investing/4322309Mr Fair Go

]]> 8984151a20e63bff72e34663bdb01696 MrFairGo replied to the topic Equity to buy again? in the forum Creative Investing https://www.propertyinvesting.com/topic/4391020-equity-to-buy-again/#post-4575258 Tue, 13 Nov 2007 08:28:22 +0000 Hi TuggerwaughIt appears that you regard these two properties as "keepers" and want to have another one. This is a good goal, but there is a quicker way to get there. Why not use whatever equity you can pull out as a deposit on a cheaper, undervalued property, that you then mark up and sell fairly quickly? If possible also value-adding by…[Read more]

]]> 195164fe0cd88c2021b6272c04db17b1 MrFairGo replied to the topic WRAPPING in the forum Creative Investing https://www.propertyinvesting.com/topic/4391148-wrapping-6/#post-4575835 Wed, 17 Oct 2007 00:50:55 +0000 Hi DanikoPaul's links are excellent.  Read them over and over, then perhaps ask more questions here.You say  "I dont have enough money to invest and I am not willing to pay high interest"…  These two things are usually mutually exclusive.  If you don't have good credit and a substantial deposit (i.e. 20% plus Stamps and Legals) you are lik…[Read more]

]]> 343e3f01a46783069c258d5fe82e299d MrFairGo replied to the topic no deposit purchases in the forum Creative Investing https://www.propertyinvesting.com/topic/4391040-no-deposit-purchases/#post-4575379 Mon, 08 Oct 2007 12:38:25 +0000 HiTechnical term, sorry: A second-mortgage carry-back could be your answer.This is where the vendor lends you the deposit and takes a second mortgage (the bank will have the first – generally for 80%)Normally you would expect to pay a higher interest, since the 2nd mortgage is not as secure as the 1st.  Actually, our company does this, but when…[Read more]

]]> b61d743e608214625fd4b0604a0e6aa4 MrFairGo replied to the topic Confsion Reigns! in the forum Value Adding https://www.propertyinvesting.com/topic/4390862-confsion-reigns/#post-4574449 Thu, 27 Sep 2007 07:49:41 +0000 Hi RichardgrAlmost all the "systems" out there in the books work…  But not all at once!So decide on the one that gets you what you want (have you written those goals for yourself yet?  :) …then have your checklist to make sure the property under consideration meets your criteria… then consider your "worst case scenario"s for comfort l…[Read more]

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