Hi BarbaraThe Foreign Investment Review Board (FIRB) will probably allow you to buy a principal place of residence (PPOR) based on your 457 visa.  See:http://www.pelicanwaters.com/images/FIRBinformationguide.pdfin the Second Hand Dwellings section.My opinion; I would buy now.Cheers,  Paul

Hi LinarThe only difference between a first and a second mortgage is that the first mortgage was placed onto the property's title ahead of the second mortgage, i.e. for both loans a mortgage was signed but the "first mortgage" was placed on the title before the next mortgage (the second mortgage).We often supply and receive second mortgages.  We…[Read more]

Hi MareeI find the best way to find out whose doing the Strata Management, is to ask one of the owners.  They usually have a pretty good idea.Cheers,  Paul

We went through the same thought process a few of years ago, i.e. self manage our I.P.'s.  I've got to say that, for us, it was much harder than it looked and we soon went back to a Property Manager.If it looks just "too easy" now, that's probably because you've got a good property manager Cheers,  Paul

Hi MareeAs this is something that you may not have doen before, it helps to keep it simple.  First step is to contact the owners direct.  A couple of ways to do this is via the Strata Committee President (or Manager) for the building or RP Data (in most States).When you get to talk to the owner, just ask them if they wold be interested in giving y…[Read more]

Hi NathanOne of the best explanations I've seen regarding the taxation of Wraps is from Julia at:https://www.propertyinvesting.com/forums/treasure-chest-past-forums/hotch-potch/9088?#comment-57180I hope that helps.Cheers,  Paul

Hi BadgerGosh, I'm going to have to slap myself on the wrist again   Why, well I paid $10,000 for a full year of mentoring and, at the first get together, learned a technique that no one in the group had ever heard of before.  So I went straight out and used the technique and earned myself $36,000 on that transaction.  And I still haven't seen…[Read more]

Hi MareeI guess it would be fair to say that all of the members of the Vendor Finance Association of Australia don't agree with Mr Jenman's opinion I'm not sure if you live in Sydney but details of the Association's next get together in Sydney are at:https://www.propertyinvesting.com/forums/property-investing/creative-investing/4324521Also, a s…[Read more]

Hi hoping2doitrightYes it is possible to secure the property a quite a late stage of the default process but, if the loan has been moved onto the banks lawyers and a Writ of Possession has been issued or is about to be issued, then it is probably best to hold off until the mortgagee auction.However, if the loan is not with the banks lawyers yet,…[Read more]

Hi AllGosh I must remember, in my next life, to never attend a seminar because, before I attended, I had my PPOR and now I control over $xx mil in property.  All done with various seminars and a couple of books from Robert Kiyosaki and John Burley.  Sorry, no university and utilised one of the seminar presenters as an on-going mentor (and paid h…[Read more]

Hi MartinOur business involes buying and selling properties with vendor financing, i.e. Rent To Own, etc.  Please feel free to give us a call to work what needs to be done to get you  back into a CF+ position.Cheers,  Paul

Hi asoo4Why is the vendor selling, i.e. what are his.her plans for the money and why do you want to buy, i.e. PPOR or investment?  If you can give us more information, I'm sure a forumite will come up with a suggestion or two.  Thanks.Cheers,  Paul

Hi ScottThat is sometimes called a "back to back lease/option" or a "sandwich lease/option", i.e. you lease/option a property (with the right to sub lease) and you on sell the property with a lease/option (obviously on a shorter time frame than your lease/option).Cheers,  Paul

Hi ScottQuite a bit of information on Lease/Options is available at:  https://www.propertyinvesting.com/strategies/lease-optionsCheers,  Paul

Hi billybobThesituation you describe leaves you out voted, 3 to 1, every time, from a family, blood is thicker than water,point of view.If I was to consider this investment, I would insist that an extensive Joint Venture agreement be written up by a good solicitor and would ensure that this JV Agreement has a mechanism to force the sale of the…[Read more]

Hi DavidThe call call option agreements that we're familiar with, have in them a clause that states that we have a "caveatable interest" in the property.  We can them make our own decision as to whether we get our solicitor to register a caveat on the property, regarding the option.  Thanks.Cheers,  Paul

Hi HengjinWe have the Massive Passive Pack and I'd probably go with it as it has the most up to  date information.If I was starting out into Lease Options and Sandwich Lease Options, I'd be after the most comprehensive, Australian based, reference resource I could find.  May I suggest you have a look at what else is is available.  So far I ha…[Read more]

Hi DavidIt's a big padlock that you can store a couple of keys in.  You attach it to an immovable object and store the key of your property inside.You then get some security details from your prospective inspectees and then give them a 4 digit code.  They dial in the four digit code and that opens a concealed sliding door that contains the k…[Read more]

Hi McHenryWe've found both Steve's Wrap Kit and Rick's Wrap Pack to be excellent resources. I guess we're biased towards Rick's product because that's what we started off with and we've stayed with Rick as our mentor now for 5 years.  However if you're being offered Steve's Wrap Kit second hand, I'd advise you to grab it, if you a serious about ge…[Read more]

Hi HengjinI'd have to agree with Richard, in that the exact model you mentioned is not done in Australia.Having said that, we have taken control of quite a number of porperties that were close to foreclosure.  Some we've kept as buy & holds and some we've on sold with Vendor (Seller) Finance.  Thanks.Cheers,  Paul