Hi JasonR

Yes. Very kind of Stu. I’ll be seeing Stu tonight. Happy investing!![8D]

Cheers

Oscar [8D]

Hi Guys []

I first met Stu a few months ago. He is an absolute GUN!! I recommend everyone to go and spend a day with him. From the feedback on this forum, I take it that he really opened up everyone’s mind.

Cheers [8D]

Oscar

P.S. I know most people here are investors for cashflow, but once you meet Stu, you just might change your mind!

Hi Leigh and Sooshie

Thanks for the details. I’ll be calling him soon.

Cheers

Oscar []

Hi

I love that last line Steve. And that is the point I’m trying to make. If you are not making any offers, you are not in the GAME.

I always form some sort of relationship with agents before I make offers. Also, I believe both “schools of thought” work. I personally make multiple offers on properties (e.g. Multiple Choice type offers for the…[Read more]

Hi Nathan

All you need to do is ask yourself this question:

“Would you buy 20 of these type of houses to wrap?”

I find this rule to be an excellent filtering tool.

Good Luck![8D]

Oscar

[]Hi Robert

I have done my wraps with 5% and 10% deposits. This means that I have used LMI (Lenders Mortgage Insurance). This way, my money into the deal is low and I end up with returns of infinity.

For e.g.

I wrapped a house in Traralgon a little while ago.
Purchase price: $87,000
Deposit required plus costs: $8,700’ish
Deposit from…[Read more]

Hi Guys []

You can pretty much do it any way you want. I have wrapped with the purchasers finding the house first and alternatively, I have bought the house first and then wrapped it. You will find everyone has there own way.

I would probably recommend having the purchaser find the house initially. Place an ad and get them to do the leg work.…[Read more]

It’s run by Henry Kaye. [}]

The name should be enough to put you off (let alone the $15,000!)

Safe and happy investing []

Oscar

Thanks Quasimodo![8D]

I also found (after extensive research) a mortgage originator that would gladly do it without the hassles that the Big 4 provide.

Cheers

Oscar

Tails277 You’re a D*#khead!!!![xx(]

Davlyn

I find it a bit of a worry when you ask others “Would you do this or not?”
Your invesment strategy may be different to other investors. So what YOU want to achieve may be COMPLETELY different to what others want to achieve. Do you intend to wrap these? Or b&h, reno’s etc…
While this forum does facilitate open discussion (in terms of…[Read more]

Matt

See my previous post dated 11/02/2003. The topic was called 95% LVR.

Cheers

Oscar

Hi Matt

I have used 95% for all my wraps. The cash on cash return is great, with some having a return of infinity. This has occurred, as the deposit I have received has been greater than my costs.

If 95% is used, your loan amount may be greater than the purchaser if they provide a large deposit. I guess the way you get around this is to put more…[Read more]

Matduqua

Sometime ago someone (I can’t recall who) did tell me that it is possible to do so. I am not sure of the technicalities, so it is best to ask an expert in this area.

Cheers

Oscar

Hi Matduqua

Try ANZ. They lend up to 95% and also capitalise mortgage insurance (thus becoming a 97% lend!). You would need to demonstate a savings history as part of the qualification process. Hope this helps.

Others include Bankwest anmd Macquarie (no LMI capitalisation).

Cheers

Oscar

etti_iv

Check out realestateview.com.au. They have a list of Buyer’s Agents located in Melbourne. Can’t say that I have used any of their services. They all tend to charge around 2% of the purchase price, less if you locate the property yourself.

Hope that helps

Oscar C

Good Question!!

Basically, if the business is to continue to grow, I need leverage i.e. OPM. Simple as that!

Cheers

Oscar

Tony,

Based on the information you have just provided, would Tasmania be a good area to wrap properties, or would you steer clear from there?

Kind Regards

Oscar Celik