I think you may be talking about Luna Park, just North of the Harbour Bridge.

Pisces

I’ve got a client who about a year and a half ago bought a 1 bedroom apartment in William st, Sydney.

His reason ?

He expects that the new Sydney tunnel presently under construction will turn William st, Sydney into a Champs d’Elyse type of parade after most (all ?) of the traffic gets diverted away from street level into the proposed…[Read more]

I’ve got a client who about a year and a half ago bought a 1 bedroom apartment in William st, Sydney.

His reason ?

He expects that the new Sydney tunnel presently under construction will turn William st, Sydney into a Champs d’Elyse type of parade after most (all ?) of the traffic gets diverted away from street level into the proposed tunnel…[Read more]

>>PS. Pisces, my husband is the boss of our house; he’s got my permission to say so!<<

Oh well PK, I can see you’ve got things well in hand.

Pisces

I know the question wasn’t addressed to me but, nevertheless, here is my input.

Let us assume you’ve got a prospectus which may well cost you $ 50 K (cheap) if it is prepared by one of the larger firms of solicitors (just guessing at the cost).

Remember, no self respecting lawyer would put a prospectus together for a mere $ 3K to $ 5 K (how…[Read more]

Gregg, if there is a loan involved I suggest that you better make sure, by talking to the broker, whether or ot the lender will lend if there is a vendor loan involved.

Some people handle this by having the second mortgage (from the vendor) treated as an unregistered mortgage so as to hide from the lender the existence of the unregistered second…[Read more]

Well Chan you have got two choices.

Change your wife or change your hobby. []

Or is the problem perhaps that everything is in your name ?

Pisces

>>Im not sure what brought about the broad handed slap that my question was “merely a theoretical question”.<<

What … …. are you talking about Battz ????????

I started my post off with a quote from Comsol, not yours, Battz.

My post (the very one you appear to be complaining about) is in response to Comsol’s statement that his broker told…[Read more]

Chan, Dymocks doesn’t stock it so where did you get your copy ?

Pisces

Mel, I think we both are saying the same thing so there isn’t any disagreement, slightly or otherwise.

As you say, the problem doesn’t lie in the formula other than in the way it is applied (or should that read ‘misapplied’ ?).

Pisces

>>I am a developer with stock to sell and would consider vendor terms. I too would be interested to know the exact ins and outs of it all – particularly with regards to a 2nd mortgage. I should think the debt would be suitable evidence to lodge a caveat over the property?<<

How come, Ausprop, that you say you are a developer and yet you need to…[Read more]

>>I’ve talked to a finance broker about this and he came back and said that the lenders would not consider the vendor finance as a deposit from me but I still had to come up with 10% (or whatever). Is this true of all lenders?<<

Absolute balderdash. There is more than one way to skin a cat.

It is however essential that you will be able to…[Read more]

So why are your properties unique John ?

Pisces

>>*Not anymore since the vendor has gone broke and the property is in a foreclosure now and is identified as a ‘high risk’ by the R/E agents.<<

That is an opportunity to pick up the property below market price Penguin.

Anyone who buys a property relying on having a tenant has some marbles missing as one’s security doesn’t lie in the tenant so…[Read more]

>>Fortune favours the bold<<
Yeh, it also gets one into trouble.

Purplekiss, I note your desire for your husband being able to quit his job.

Not such a good idea at all.

Your second wish is even worse.
(My second goal is to have enough passive income that he can choose whether he works at all.)

The moment a man has got nothing to do and some…[Read more]

Here is the report Yack is talking about

http://www.propertyreview.com.au/archives/2004/18022004/headline/data/PMI%20Group%20-%20BIS%20Shrapnel%20Residential%20State%20of%20Play%20report.pdf

Pisces
Auspac Finance

>>and I know that its gonna take time for the lenders to approve me.<<

Not necessarily so.

Pisces

I think I know what it is SIS.

You went on holidays to Fiji recently (true) and met the daughter of one of the Chiefs there and you’ve been promised a BIG, BIG, dowry if you marry her.

Now you are depressed because the thought of no longer having the challenge to struggle to achieve something depresses you and you are now torn between marrying…[Read more]

Penguin, to buy anything at all one needs both a deposit and a job producing income in order to qualify for a loan.

Just finding a +ve cashflow property just isn’t enough.

If you qualify in regards to both these two you may be able to go in as a financial partner with someone or perhaps get someone to put a suitable property your way in return…[Read more]

Chan of course with all his clones will, without a shadow of doubt, out earn anyone else in this business.

That is called Multi Level marketing

Pisces