Yes I am in Hobart. I would like to be in a position to attend regular meetings, but at this stage it is unlikely as i plan to head overseas in the next few months. Although when i return i look forward to seeing what has been set up.
Geoffrey Adam at Geoffrey Adam & Co. is a solicitor that we used in the past. I have recently sent our updated Victorian Lease-Option agreements to him so he can work off them to improve the Sa contracts.
Thanks Nigel for your input []
I thought as long as I used a valuer from the lending banks panel that it would be accepted. I am aware that a realestate agent’s valuation is treated with a pinch of salt (no offense to any agents reading)….another question; Is one better to get a valuation with the traditional market rental or with for eg. a…[Read more]
Thanx Steve! [] I would say then, a better question would be is it feasible for a first wrap to be done out of town – is it too risky, even with a “borrowed”(tried and tested and 99% foolproof I’m sure) system?
Our website is being updated at the moment. If you would like a copy of our Corporate Profile. Please email me at tony.barton@starterhomes.com.au amd I can forward it to you to find about what we do.
Thanks for the info Steve! You’ve certainly got a way of putting things in a clear and easy to understand manner []
Another question[?] if you could kindly offer some advice:
Is it feasible to wrap a property from a different state – can everything be done over the phone/fax? Or if I wanted to wrap a property ina town 6 hours away from where I…[Read more]
You are correct actually in the residential tenancy act it says that unless you are the government in Qld you are not allowed to promote a rent to buy or rent purchase type programme. Hey go figure!!!
That is why you need to use an installment sale in order to “wrap” property as the agreement falls under the property law act.
While it is not unlawful to use a Lease-Option Agreement in Qld.,you cannot however contract outside the law and have the tenant pay all outgoings as it breaches the residential tenancy act of Queensland. I suggest then that you look at installment contracts and that you speak to Mark Game in Brisbane 07 3236 0001.
Yeah, I had thought about being and investor, but now the time is too short for me to feel comfortable about doing it. Actually reading through the back issues of the newsletters, I found this particularly relevant quote of Steve’s:
“Every investor is plagued by the powerful emotions of fear and greed… the fear of missing out and the greed…[Read more]
Actually, I had initially written a much longer post that answered some of your questions Steve, but then decided to shorten it as it seemed to go on for a bit too long [] Not to worry, I’ll make up for it in this post.
Regarding what I’ve been doing: for the last 10 months I’ve been living and…[Read more]
Go to freelawyer.com.au – there is some good advice on how to go about making offers, and has an offer template you can download with various sample exit clauses []
Peta, thanks for your comments… i appreciate it, this is my first property and it is good to consider things from all angles.
I have attempted to reply to most things you noted.
High vacancy? at the moment there is a real shortage of rental properties in Tasmania. It is becoming a bit of an epidemic. I can only guess you were looking outside…[Read more]
There is 11 months remaining on the lease and no body corporate… so that is positive. Have also spoken to a few people today and they are of the opinion that i shouldn’t have a problem.
Steve, thanks very much for your response, much appreciated.
If anyone is interested there are often properties like this coming up in Tasmania. Just had…[Read more]
HI:STEVE
I would like to take this time to thank you for your wonderful product Wrap Secrets Revealed.Just last night at my Rein(real estate investment network)meeting,I was telling Don Campbell about the forums,of course Don being Don he already new about it,always one step ahead.Thanks for the great idea, you can be sure I will try to apply it…[Read more]