Hi BecWe use Tony Cordato for our real estate property purchasers, using call options.  We don't specifically use call options for real estate developments purposes but I'm sure Tony will be able to help.  You can contact him at:Cordato PartnersBusiness,Property & Tourism LawyersLevel 5, 49 York Street Sydney NSW 2000Ph: (02) 8297 5600fax: (02) 9…[Read more]

Hi LindaBefore I get into answering your question, may I ask if the people who are helping you sell with vendor finance are in some form of "profit share" with you?  I ask this because, if they are, I would have thought they would be fielding all questions from prospective buyers.  At a mimimum I would have expected them to brief you on how to h…[Read more]

Hi MarkYou could try:1. Heritage Park Property Management – Attn. ChadPhone / Fax 0263 443 650Mobile 0411 890 268heritagepark@optusnet.com.au2. Joseph Scarcella0408 423 885http://www.primerealestateagents.com.auGood luckCheers, Paul

Hi SarahThere may be an alternative that will allow you to get positive cash flow from the property over the next two to three years, followed by a lump sum of captial gain.This involes selling the property with an Instalment Sales Contract, i.e. selling the property utilising vendor finance.It does mean that ultimately you will have disposed of…[Read more]

Hi Jase and FlicIt depends how the Option To Purchase agreement was written.  Some Options are written with an Assigment clause in them.  This allows the original purchaser of the Option to Assign the Option to another party. If the Assignment clause (or sometimes a Nomination clause) is there, you could Assign the Option for a price.  How you st…[Read more]

Hi NickyI'd highly recommend Dale Gatherun-Goss.  He can be contacted at  dale@gatherumgoss.com or phone (03) 9723 7699.Cheers,  Paul

Hi SteveIt looks good.  But of course we miss your smiling face Cheers,  Paul

Hi HelenIf your mum-in-law doesn't need all the money now, why not put the following to her.  You will pay the $300,000 asking price but you can't pay it all right now.  Following is how you would structure the offer.You will pay her 80% now, i.e. $240,000 and then pay off the rest over 5 years.  You achieve this as follows:1.  Get an 80% LVR loc…[Read more]

Hi JoeJust as an aside, all our Instalment Sales Contracts don't allow our Wrapees to rent the property.  The clause goes something like "the purchaser must remain in possession of the property".One of our reason for not allowing our wrapees to rent the proerty isthat we feel there is too much "distance" between us and the people living in the pr…[Read more]

HiI'd suggest you read all three of Steve's books with a commitment not to do anything until you've read all three.  Then make a plan and from there on I'm sure you do well.  In fact, you already have already done well, i.e. your first investment property (IP) is fully paid for, so you'll do even better Cheers,  Paul

Thanks Richard.Hi EmilKaren and I may be able to look at doing a JV with you.  I suggest you ask Richard what you can borrow and then send me an email or PM. Good luck.Cheers,  Paul

Hi ArthurRichard is absolutely correct.  The nice thing about an "emerging profits" CGT ruling is it spreads your CGT burden nicely throughout the period of the Instalment Contract (wrap), leaving the major part of your CGT commitment to be paid when you get the majority of your profit, i.e. when you're re-financed out of the transaction.  Good lu…[Read more]

Hi Arthuri) Tony Cordato – Cordato Partners, York St, Sydneyii) We always keep the Rates and Insurance in our name and have the bills sent to us.  We don't want people chasing us for bills that haven't been paid by our wrapees.  Of course, the wrapees pay these bills.iii) We usually use, "no more than 35% of a client's gross uncommitted in…[Read more]

Hi wrigglesAt a minium I would keep both properties.  If it were me, I'd be refinancing Frankston South property and buying another IP. Good luck.Cheers,  Paul

Hi loboWould you mind letting us know why you're planning to sell?With regard to private sales and the possibility of people not talking to you because it is a private sale; we put the signs up, in Sydney, at 1pm on a Tuesday and had the proerty sold at 9am on Saturday!!If you do decide to sell, don't be scared of the private sale process.  There…[Read more]

Hi pasandbecCongratulations on the new arrival.  Fantastic   While it is very understandable that security is uppermost in your mind at this pretty amazing part of your life, I'd suggest you'll get more long term secutity out of keeping your existing IP than selling it right now.My suggestion would be to pass the full management of the IP over t…[Read more]

Hi DevoCongratulations!  That's great news   We definitely want to hear about each of the next dozen or so Cheers,  Paul

Hi GuyUsually the JV for bird dogging would be very simple.  Something along the lines of:1.  Outline the undertaking2.  Quantify the profit share.There are a number of solicitors that can write these up.  Most Vendor Finance savvy solicitors are very familiar with JV's so may I suggest you do a search on this forum for a "wrap savvy sol…[Read more]

Hi DevoI agree with Xenia.  The unit would have to have be pretty special, i.e. have very good capital gain expectations, for me to forgo owning a decent amount of land.  Good luck.Cheers,  Paul

Hi RobFrom my point of view it would be a real shame to lose all the good bird doggers out there that are doing a great job for us investors.Any suggestion that bird dogging is only possible if you hold a real estate licence can easily be overcome, if you put a Joint Venture Agreement in place between you an your client.  Once you have a…[Read more]