Yes you can. For example, buy a block with your brother/sister etc. You can owner build 2 dwellings on the block where each individual has one each.

Always???? I don't think so. I've had better outcomes, especially with development loans, going direct. All 5 points…[Read more]

Worth buying? Well thats your opinion. The above strategy is fact which I have completed many times this year and as recently as last week. Hard? No! Easy? Not as easy as picking an apple of a tree.

Good luck!

Oscar [biggrin]

Way off there Richard. It still operates. Melbourne runs smoothly and is getting bigger and better. Check out: http://www.financewraps.asn.au/default.php

Nathan: Join up and if from melbourne come along. Its only $150 for the…[Read more]

I use Frank Libman. Very experienced and has done work with Steve. You can call him on 9888 6255.

Cheers

Oscar

1. Discussion on development finance
2. Raising funds through equity partners
3. Discussion on the Psychology of investing.

Cheers

Oscar [thumbsupanim]

whats wrong with buying property and then sitting on your arse and waiting for the value to rise? Easiest way to make money provided you choose well located properties with scarcity value and you are able to service the debt comfortably with appropriate risk management e.g. interest rates, vacancies.

Bill Zheng (finance guru) showed a…[Read more]

“Thing is I do not intent to get out.”

easy answer….DON’T!

Oscar

Without knowing much about your future goals via property, I would be reluctant to sell a property which has grown above the avarage growth rate.

E.G. property worth $350k…annual growth rate of 9.5% = $33250 (on avarage). Surely this is far more than any maintenance required per year. That amount is also greater than $10k p.a…[Read more]

Would you sell your own home if it went down by 10-15%?? I dont think so and nor will many others…INCLUDING wrappees!!

I take it both have not constrcuted a wrap deal???

Oscar [cigar]

Cheers [aacool]

Oscar

They are really a marketing company more so now. Previously more accounting stuff.

I haven;t dealt with them personally, however, I know I can buy better property myself. It seems they play the ‘cashflow’ lines on overpriced property through depreciation and rental guarantees.

Oscar

If you are interested in JV’s for wraps/vendor finance transactions feel free to PM me.

Cheers

Oscar

I have been dealing with Stuart for close to 2 years…fantastic guy!

I wouldn’t compare him with the guys on the seminar circuit…he makes his money by finding deals for himself and his chosen investor clients. The amount of deals he has going at any given point is just amazing.

I have completed a few deals with Stu and its been…[Read more]

You should put your more energy into things you CAN control.

As for interest rates, all you need to do is make an opinion and be prepared for any future movements…..not predict it.

Cheers [baaa]

Oscar

Can very, but generally the following:

1. 10-20% margin on market price of the property
2. 1-2% interest margin
3. as for repayments, it varies from area to area. i.e. market price on properties. I’m completing one at the moment where the repayments are $225 per week and the market price of the property is $115k.

As Leigh suggested…[Read more]

Where are you planning on buying into?

Oscar

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

Cheers

Oscar [8D]

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!

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

Cheers

Oscar []

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]

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

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]

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]

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

Safe and happy investing []

Oscar

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

Cheers

Oscar

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]

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

Cheers

Oscar

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]

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

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

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

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

Cheers

Oscar

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