Hi ducataWe have a strategy we use for this type of situation, we call "negative2positive".  It involves selling the property with vendor (seller) finance to an owner occupier.  We have always found that, if you make a property easy to buy, you also make it easy to sell.Many buyers will pay a premium price for their PPOR if they are unable to ge…[Read more]

Hi RyanWe're pretty much as Terry says:1.  We only sell to owner occupiers.2.  We never sell a property with no "hurt money" from the buyer.  Even if the buyer is eligible for the FHOG and is going to to use that as part deposit, we still insist on some deposit from the buyer.  Without any of their real money in the transaction, in our opi…[Read more]

Hi DanielI think the point here is in your original question, i.e. "after settlement".  If they wanted to rent the property prior to settlement then your solicitor would use a "licence to occupy" (LTO) and in NSW and Vic too I believe, a LTO is not covered by the Residential Tenancy Act.However, because the Vendor currently occupies the pr…[Read more]

Hi MaxBuying an Apartment or Unit seems like a pretty good place to start.  If you happen to be in a major metropolitan area, I suggest you buy apartments or units as close to the CBD as you can afford.  Their capital growth seems to be at it's best, the closer they are to the CBD.  Probably the same free standing property too but apartments te…[Read more]

Hi JaffasoftJust get your solicitor to put it in the Special Conditions area, i.e. the extra clauses added to the standard Contract of Sale.  Here you can nominate just about anything you like.  Just have it written up something like; "The Vendor agrees to enter into a xx month residential tenancy of the property, at $xxx per week, prior to c…[Read more]

Hi GavinI hope Duckster's suggestions work as I too can't find any contact details for the original software makers.  I'm sure you'd like to stay with what you're comfortable with but, in case that's not possible, LoanAlert has worked really well for us over the years.  It's available at;  http://www.loanalert.com.au  I don't have any ass…[Read more]

Hi BasmanDan42 is right.  However, just for her information, it's worth knowing that the Family Law Court has been very successful in unraveling trusts that have had assets placed in them after a couple started cohabiting.Cheers,  Paul

HiSome pest inspectors now have access to thermal imaging technology, to catch white ants in real time.  They still do the other forms of inspection, so we're working on the basis that it's another tool in the inspector's tool kit, so why not use it.We find there are two general types of real estate agents.  They are:1.  The one that tells you e…[Read more]

HiWe recently got a company/trust structure for $1,500 via our accountant.If you settle on a property in, say, your name and then transfer it into a trust, then yes new stamp duty will be incurred and associated legal costs.As always, check with your lawyer.Cheers,  Paul

Hi MaccachaI know a Financial Planner who'll be happy to talk property with you:Richard Taylor, Residential & Commercial Finance Broker, Ph: 07 3720 1888Cheers,  Paul

Hi BenHere are a few ideas:ACCOUNTANT:  Bruce Whiting, Business Artisans P/L, Ph: 02 9521 6942LAWYER:  Tony Cordato, Cordato Partners, Ph: 02 8297 5600BROKER & FINANCIAL PLANNER:   Richard Taylor, Residential & Commercial Finance Broker, Ph: 07 3720 1888BROKER:  Terry W and the other great brokers you'll find in the Finance (& other) sub foru…[Read more]

Hi AllWe too found the registration process quite straightforward.I also agree with Andrew's comment that the licence may be more difficult to get in the future, e.g. there is already a requirement that after 30 June 2014, all ACL representatives will have to have a minimum of a Cert 4 in Finance.So, if your company is the licence holder and…[Read more]

Hi Dr SpockMy wife and I started out in Vendor Finance in 2003 and it's been a great business for us.  So much so that we both spend all our time building the business these days.We did have one advantage though and that was we started off with some equity in our house that we were able to use to buy our first property, that we subsequently on…[Read more]

Hi RyanThat sounds about right to me, with the proviso that they also don't enter the "business" in the future.  It's early days with this new legisaltion so I'd definitely run all this past a solicitor familiar with the new legislation.Cheers,  Paul

Hi dcn08I'm with Richard and Terry, i.e. they work very well here.  Just in case you're new to the idea, Lease/Options are one of the two most popular vendor finance strategies in Australia.  The other being Instalment Contracts (sometimes called Wraps).Three quick spots to read up on these a…[Read more]

Hi lucky4sI can think of two strategies right now that have the potential to help.1.  Sell traditionally.  However because of your current financial position,  It will need to be a quick sale and you should possibly plan on a lower sale price than you might otherwise get (maybe the $260K area).  This will give you something just over $100K when…[Read more]

Hi WalterTony Cordato – 02 8297 5600Cheers,  Paul

Hi RyanAs Terry says, anybody supplying credit to an individual (natual person) has to abide by the new NCC, after 1 July 2010.There is an interesting area of the of the Regulatory Guides where you will see that the registration requirement applies to those who "carry on the business of providing credit".  As stated in the Regulatory Guides, a…[Read more]

Hi BambamThe great thing about Lease/Option's is that they are almost infinitely variable.  All the variables, such as strike price, term, option fee, on-going option fee and rent credit, can be setup to make it work for you and your new purchaser.  The reason we tend not to use them is because the Lease bit of the transaction comes under the co…[Read more]

Hi RCIn answer to your first question, I've got to declare that I'm biased because we do Vendor Finance Training Joint Ventures.  In 2003, when we started, we bought a manual and then, over the next few years, we paid (lots) for on going mentoring/training.  Knowing what we know now, we'd probably buy a manual and get an experienced vendor finan…[Read more]