Hi Ness

We have been doing mainly Instalment Sales Contracts in the Hunter Region of NSW. We “exchanged” on a 3 bedroom, brick and tile home in Raymond Terrace last Friday and are currently looking for suitable buyers or tenant/buyers for this property.

All the best, Paul & Karen

Hi John

You may be able to turn this property into a positive cashflow situation by on selling it using vendor (seller) financing. A couple of good places to start reading up on these seller financing techniques are:
1. https://www.propertyinvesting.com/strategies/lease-options.html
2. https://www.propertyinvesting.com/strategies/wraps.html
3.…[Read more]

Hi Scullyman

One option you might like to look at is buying your home via vendor finance.

We (my wife and I) have helped two ex bankrupts into their own homes using a form of vendor finance, called an instalment contract. Both couples have now been with us for over a year and have perfect payment records. The plan is to refinance them into a…[Read more]

Hi Bennett

When you mention “investment property” I think you’re thinking of what I call a “buy and hold” investment property. May I suggest that as you continue to read Steve’s book you take the time to research the other positive cashflow “investment property” strategies he uses.

I’m not much of a buy and hold specialist so I’ll leave others…[Read more]

Hi Bennett

If you haven’t already, have a read through
https://www.propertyinvesting.com/strategies

Cheers, Paul

Hi Terry & Mortgage Advisor

I’ve recently spoken with the vendor finance specialist lawyer, Tony Codato about this. He tells me that vendor finance is calculated on the contract price and only payable on completion of the Instalment Sales Contract.

Another interesting point, concerning wraps in NSW, is that Land Tax can be made to disappear for…[Read more]

Hi Pete

In relation to mortgage backed private funding, you asked “where can these be found?”

One place this type of funding can be found is with people running a residential real estate, seller finance business. The two types of investors these businesses are normally looking for are “Money Partners” and Joint Venture Partners”.

“Money…[Read more]

Hi Pete

You can now pay for it on a yearly basis on an “emerging profits” basis. Of course, when you are refinanced out by your wrappee, you are then liable for the remainder of the capital gain.

I hope this helps.

Cheers, Paul

Hi Pete

Actually the ATO assess the capital gain from the date of exchange of contracts, not settlement. Hence the ATO position paper talking about “emerging profits”.

Cheers, Paul

Hi JD

You might get more response to your question on Rick’s forum. Go to:
http://www.rickotton.com/
and click the link under “Rick’s Forum”.

My wife and I believe the help we’ve received from Rick in building our vendor finance business has been invaluable.

Good luck.

Cheers, Paul

Hi J

What would you have to give the bank to payout their loan, including any early payout penalties (deferred establishment fees)?

Cheers, Paul

Joint Venture

Cheers, Paul

Hi lawboy

I’m not sure about the availability of an insurance policy for the prospect of loss/forfeiture but I do know that the insurance company, Australian Unity do have a special “building insurance” policy for homes sold using Instalment Sales Contracts. Herein they register the “wrappees” interest in the property (along with the interest of…[Read more]

Hi Aeros OZ

I haven’t ventured into the US market but I have done a small amount of research. A couple of resources that might help are:
1. A lot of Aussies operating in the US use an LLC (limited liabilty company) as their preferred structure. The company at this URL,
http://www.llcloannetwork.com/
purports to specialise in loans to LLC’s
2.…[Read more]

Hi All

An interesting legal commentary on wrapping/vendor finance in Australia can be viewed at:
http://www.businesslawyer.com.au/fr_property.html
Use the “click here for more information” button, under the VENDOR FINANCE FOR REAL ESTATE heading.

It is also worth noting/declaring that this site belongs to a lawyer who prepares a lot of paperwork…[Read more]

Hi gogo

What state are you in and what is your nearest major town/city?

Cheers, Paul

Hi Leanne

Another website for private sellers is:
http://www.owner.com.au

Good luck.

Cheers, Paul

Hi Liz

Have a read of:
http://www.mortgage-investments.com/Investors_in_Real_Estate/overseas_investors_in_US-real_estate.htm

I have not invested in property in the US but what I have read so far indicates that I’d probably buy within an US based LLC (Limited Liability Company) if I was to venture over there.

Another interesting series of posts…[Read more]

Hi Josh

It is perfectly legal to have the vendor rebate some or all of your costs at completion/settlement, eg. your stamp duty and legal costs.

While I live in NSW and haven’t used this firm, I know Deacons law firm have supplied some Qld specific contracts for some of Rick’s courses. They should be able to help you structure your offer in…[Read more]

Hi Amy

Yes it is a lot for a book but is it really just a book. My wife and I got Rick’s Wrap Pack and with it’s step by step instructions have managed to do 5 wraps in 13 months with quite a tidy profit. We are very glad we had this resource available to us as an invaluable business building tool.

We have just received an updated version of…[Read more]