Hi bloach

Just in case you fall over “the deal of the century” beofre you get your PR, you could aleays use an option to secure the property. And, if you want to live in the property you could use a residential lease combined with an option (generically called a Lease/Option). Steve has some information about Lease/Options at:
https://www.propertyinvesting.com/strategies/lease-options.html

Good luck.

Cheers, Paul

Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540

Talk to us about Wrap Training Joint Ventures.

Hi Compleks

Steve product Wealth Guardian is very good. It can be found at:
https://www.propertyinvesting.com/resources/11.html

A couple of other books are:
“How to legally reduce your tax” – by Ed Chan and Tony Melvin.
“Trust Magic” – by Dale Gatherun-Goss. One place you can buy it is:
http://www.propertyupdate.com.au/pages/Trust-Magic

I hope that helps.

Cheers, Paul

Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540

Talk to us about Wrap Training Joint Ventures.

Hi Dave

As you will will probably be investing some hundreds of thousands of dollars building your portfolio in the future, I’d suggest you don’t “nickel & dime” your real estate education.

I suggest that $100 is very cheap education. I’d also suggest you have a look at
https://www.propertyinvesting.com/resources/11.html

Good luck.

Cheers, Paul

Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540

Talk to us about Wrap Training Joint Ventures.

Hi Francis

My wife and I have recently turned three different negatively geared properties into positive cashflow for our clients.

We do this buy selling the properties with Vendor Finance. We structure this type of sale so that you receive positive cashflow until the new buyers refinance out of your Vendor Finance, into a traditional loan. This process usually takes two to three years.

Obviously this won’t be attractive if you don’t wish to sell the property but, if this is an option for you, your sell price is fixed at the begining of the transaction and your IP generates positive cashflow.

I hope this helps.

Cheers, Paul

Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540

Talk to us about Wrap Training Joint Ventures.

Hi

In the winter (in the southern hemisphere) the sun travels north (or seems to but we won’t get into too much science here).

If your house is facing north, it gets more sun in the winter and therefore should be warmer in winter.

Cheers, Paul

Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540

Talk to us about Wrap Training Joint Ventures.

Hi nikikb

I would not sell it. As mentioned above, I would access some of the equity in this IP and use it as a deposit for another IP. Good luck.

Cheers, Paul

Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540

Talk to us about Wrap Training Joint Ventures.

Hi Cougar

Dale Gatheum-Goss get a very good wrap up on this and other forums. His website is at:
http://www.gatherumgoss.com/

Good luck.

Cheers, Paul

Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540

Talk to us about Wrap Training Joint Ventures.

G’day John

We’ve been successful in refinancing peole out of our wraps by offering a zero cost refinance to them. We had plenty of profit in the transaction so the cost was relatively small and gave us access to our profit. We did however insist that this was a once only, not to be repeated, promotion that had to be taken up in 4 weeks from notification.

We only had to do this for a number of our early wraps where we hadn’t built two to three year interest rate honeymoon periods into the Instalment Contract.

Also, we’re in NSW so Stamp Duty is paid going into the wrap by the wrapees. As you’re in Vic, I guess you’d have to exclude the Stamp Duty cost from the “free” promotion.

Good luck.

Cheers, Paul

Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540

Talk to us about Wrap Training Joint Ventures.

Hi Trude

Karen and I operate mainly in NSW and Qld. In NSW we use Tony Cordato for our contracts, including Rent To Owns (a lease and an option to purchase). In Qld we use Paul Brennan.

Good luck.

Cheers, Paul

Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540

Talk to us about Wrap Training Joint Ventures.

Hi SRO

Karen, my wife and I were trained by Rickand have now on sold many house using various vendor finance techniques. We would be happy to give you the names and telephone numbers of every single one of those purchasers because they’ve already told us that we don’t have to ask each time, just get our prospective buyers to ring them.

If you search through this forum you will see various comments about Mr Jennman’s thoughts on vendor finaning. May I suggest you read a broad range of these comments.

Both Rick and Steve have taught vendor financing techniques to many people over the years. Just as there are good and bad real estate agents and car sales people, there are bound to be bad vendor financiers. May I suggest you have a look at the website for the Vendor Finance (Wraps) Association and ask for a copy of the Association’s Code of Professional Conduct.

If you have a specific instance of unprofessional conduct by a vendor financier, I’m sure the whole vendor finance community would like to here about it (without names) so that we can see if we can get you through the problem you’ve been experiencing.

Cheers, Paul

Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540

Talk to us about Wrap Training Joint Ventures.