Forum Replies Created

Viewing 20 posts - 81 through 100 (of 108 total)
  • Profile photo of Property TraderProperty Trader
    Participant
    @property-trader
    Join Date: 2002
    Post Count: 111

    Ok

    Property Trader | Boston West Pty Ltd
    http://bostonwest.com.au
    Email Me | Phone Me

    Private money lending opportunities available paying upto 12%, secured by bricks and mortar!

    Profile photo of Property TraderProperty Trader
    Participant
    @property-trader
    Join Date: 2002
    Post Count: 111

    Robert,

    To the initial posts on this thread. Both Rick & Jane Otton has been a fantastic help in providing practical advise and information on trading properties for the Australian Conditions.

    Regards,

    The Property Trader

    Property Trader | Boston West Pty Ltd
    http://bostonwest.com.au
    Email Me | Phone Me

    Private money lending opportunities available paying upto 12%, secured by bricks and mortar!

    Profile photo of Property TraderProperty Trader
    Participant
    @property-trader
    Join Date: 2002
    Post Count: 111

    Hi Guys,

    All I was illustrating was that it can be done with a dollar …

    In regards to the time machine … grow up you guys … they are the settlement dates and since the onsell contracts to the properties are unconditional and the time frame to settlement are very close they are viturally a done deal.

    Rob … I don’t have to prove myself to you … I am a doer and would rather invest my time making the money doing the deals rather than spend all my time talking about it.

    I have invested my time in researching how a business man in my local area has done over 500 residential property transactions within an 8 year time period and at the moment are just mirroring how he did it … not too many people know of him and that is the way he likes it and yes he did it ethically.

    I have done 60+ property transactions and have spent over 9 months researching and testing marketing the nothing down concept … with the massive amount of time & money that I invested in it. I will not tell you how I do it, just that it can be done with a dollar.

    Regard,

    The Property Trader

    Property Trader | Boston West Pty Ltd
    http://bostonwest.com.au
    Email Me | Phone Me

    Private money lending opportunities available paying upto 12%, secured by bricks and mortar!

    Profile photo of Property TraderProperty Trader
    Participant
    @property-trader
    Join Date: 2002
    Post Count: 111

    Guys,

    I have not been able to purchase property for nothing down, but I have been able to do it for $1.00.

    7th Dec 2004 $10.00 down, made $23,000.00 profit
    23rd Dec 2004 $10.00 down, made $21,000.00 profit
    10th Jan 2005 $1.00 down, made $10,000.00 profit
    27th Jan 2005 $1.00 down, made $23,000.00 profit

    Paid no closing costs and did it in Australia.

    How I did it is up to you to guess, as I will not tell you the answer.

    I am such a tess!

    Have a GREAT Day,

    The Property Trader

    Property Trader | Boston West Pty Ltd
    http://bostonwest.com.au
    Email Me | Phone Me

    Private money lending opportunities available paying upto 12%, secured by bricks and mortar!

    Profile photo of Property TraderProperty Trader
    Participant
    @property-trader
    Join Date: 2002
    Post Count: 111

    Ireland,

    You seem to come across as a person who is a “doom and gloom” promoter rather than a problem solver …. In answer to your question if interest rates went to 15% what would I do ….

    Opinion:

    [1] Interest rates will be reative to the current market. If the average homebuyer is paying 15% then my buyers (credit impaired) would be paying 17%. Everyone is feeling the pinch.

    [2] I will be out their trying to acquire control over as much property as I can get my handes on.

    Acction:

    [Contingency 1] I would have approached my buyers and get them to lock in the interest at a point in time where the payments would be managable.

    [Contingency 2] Get the homebuyer to refinance into a cheaper loan.

    [Contingency 3] For a period of time (2 years) removed the 2% interest premium.

    [Contingency 4] Extent their loan out from 25 to 30 years to reduce their repayment.

    [Contingency 5] Takeback the property and rent it out.

    Managing the down side and being a problem solver is the key.

    That my 10 cents worth.

    Regards,

    Jason Moore
    [email protected]

    Property Trader | Boston West Pty Ltd
    http://bostonwest.com.au
    Email Me | Phone Me

    Private money lending opportunities available paying upto 12%, secured by bricks and mortar!

    Profile photo of Property TraderProperty Trader
    Participant
    @property-trader
    Join Date: 2002
    Post Count: 111

    Felicity,

    Although you don’t know me, I aways like reading your posts …. They are interesting.

    Want the GOOD NEWS ….. Heaps of people have done this in the past …. One of my real estate agents (great friend) has done it 2 years ago when the market was flat and the vendors were prepared to listen to any offers. The come under the name of:

    1. Reversed Second Mortgage.
    2. Heads of Agreement.
    3. Forgivable Second Mortgage.

    Works best when you are negotiating a [1] buy direct with the vendor of course, [2] stagnet market.

    My real estate agent and good friend will be personally negotiating all these for me when the market cools off … what LEVERAGE.

    This is my primary strategy to acquire and control property when the market is flat … especially a forgivable second mortgage.

    Too late to go into the nuts and bolts …. however the concept works.

    Regards,

    Jason Moore
    [email protected]

    Property Trader | Boston West Pty Ltd
    http://bostonwest.com.au
    Email Me | Phone Me

    Private money lending opportunities available paying upto 12%, secured by bricks and mortar!

    Profile photo of Property TraderProperty Trader
    Participant
    @property-trader
    Join Date: 2002
    Post Count: 111

    Hi All,

    What an intersection of differing opinions.

    My property investment goal is to look at a property and to have the ability to maximise my profit out of it by looking at the viables around it (the property, the area, interest rates, occupier etc) and selecting the strategy (instalment contracts, renovations, lease option, license to occupy, second mortgage or buy and hold etc) that is the most viable option at that point in time.

    I currently specialise in second mortgages and instalment contract and are up to my 20th property. I might joint venture with others to do renovations etc if I do not have the expertise at the time.

    My Thoughts ….

    Robert K. is my main mentor and like his board game “Cashflow 101”, you start and cut your teeth on the small deals (learning experiences – mistakes are only small financial loses and do not wipe you out of the game while you are learning) so that you know what to do when the big deals come along.

    I believe that you should not start investing by placing all your money on just one bet/investment. If I could purchase $240K worth of property, I personally would rather by four $60K properties as a learning experience than buy one $240K property.

    I am trying to model myself of an individual who operates in the lower end of the market $60K – $80K properties and has acquired over 500 positively gear properties …. He has results and his technique is simple …. why reinvent the wheel.

    By being in the real estate game and starting off doing the small deals you gain confidence, you gain tremedious knowledge and get to meet very interesting successful property investors.

    And one very important thing you get offerred the deal of a lifetime ….. to joint venture in a deal to bulk purchase 75 properties for $50K each … most of them will be second mortgaged, some will be instalment contracted and others will be buy and holds. By starting off with the small deal, when the big deal comes it is just a magification of the small deal …. Better yet … [1] The properties will be given to me … [2] I do not have to sell them [3] I do not have to property manage them [4] I do not have to personally financially fund them ….. All I have to contribute is my technical knowhow and the systems that I have.

    This has all come about by understanding what the guy with 600 properties has done and simple copying it … he has results, he operates in the lower end of the property market, hes wealth and it works.

    One must adapt to the environment in which it exist in or you will become extinct.

    Some of you are saying ….
    1. What happens if interests rates go up?
    2. You need tenants to make it work?
    3. What happens when the market crashes?

    You need to know your game plan when things go wrong and manage them effectively …. by being a PROBLEM SOLVER … you can make money whre other would lose money.

    Well … well … well, that my ten cents worth ….

    Regards,

    Jason Moore
    [email protected]

    Property Trader | Boston West Pty Ltd
    http://bostonwest.com.au
    Email Me | Phone Me

    Private money lending opportunities available paying upto 12%, secured by bricks and mortar!

    Profile photo of Property TraderProperty Trader
    Participant
    @property-trader
    Join Date: 2002
    Post Count: 111

    AD,

    Please call me and I can refer you to someone here in Brisbane.

    Regards,

    JUason Moore

    Property Trader | Boston West Pty Ltd
    http://bostonwest.com.au
    Email Me | Phone Me

    Private money lending opportunities available paying upto 12%, secured by bricks and mortar!

    Profile photo of Property TraderProperty Trader
    Participant
    @property-trader
    Join Date: 2002
    Post Count: 111

    Hi Tony,

    Shot me an email expressing what you are looking for at [email protected] as I am experienced in JV’s with wraps (Instalment Contracts) and a close business associate is very experienced in reno. If you want to be considered as a money partner the shot me an email.

    Regards,

    Jason Moore

    Property Trader | Boston West Pty Ltd
    http://bostonwest.com.au
    Email Me | Phone Me

    Private money lending opportunities available paying upto 12%, secured by bricks and mortar!

    Profile photo of Property TraderProperty Trader
    Participant
    @property-trader
    Join Date: 2002
    Post Count: 111

    Darren,

    I am of the same opinion as yourself and are looking for buyers with healthy deposits. In Queensland it is essential to get healthy deposits as we have to wait 1 years to get access to the $7,000 FHOG. Funny enough I put 3 people into property this time last year and they are now eligible for the FHOG ….. awesome!!!!! …. Show me the money.

    Other than the buyer is contractly having to pay me the FHOG, they are all very very happy to pay it to me why … [1] They now have roughly 10% equity in their property (the fantastic market growth has definitely helped this) … banks are more likely to consider them for refinancing. [2] Their repayments will go down by roughly $15 per week … however all of them want the repayment to stay the same. It a win-win deal all round!

    On another note Darren, out of interest what state are you from and how many properties have you do …. from memory it was quite a few.

    Look forward to hearing from you.

    Regards,

    Jason Moore

    Property Trader | Boston West Pty Ltd
    http://bostonwest.com.au
    Email Me | Phone Me

    Private money lending opportunities available paying upto 12%, secured by bricks and mortar!

    Profile photo of Property TraderProperty Trader
    Participant
    @property-trader
    Join Date: 2002
    Post Count: 111

    Darren,

    I use to use a similar company, but I still have to do all the administration work etc. The thing I do not like about those companies is that they take of money any day in the previous week and only dispurse it to you on the following Tuesday or Wednesday. As most of my people get paid at various times of the, if one of my buyers pays weekly on a Monday, under the Ezypay system I would have to wait a week and a half to recieve it. Not too crash hot!

    Under the arrangement I have with the real estate agent, the money is direct debited the day prior and it is in their trust account the next day. Simple! Also using the agent, buyers feel the personal touch and not a number as they would with Ezypay. I want my buyers to give me tonnes of property and homebuyer leads in their local area and a friendly environment tends to promote it.

    Also I now have access to the real estate agents 140 rent roll that I can do a monthly mailout to and I get first pick at the best deals they get and the agent says to the vendors when she lists properties “We can put it on the market for $100,000. However, if you need a quick sale and no hassles I have someone who will sign the contract today for $85,000, do you want me to call him”.

    In the end, that is the way I like to operate.

    Regards,

    Jason Moore

    Property Trader | Boston West Pty Ltd
    http://bostonwest.com.au
    Email Me | Phone Me

    Private money lending opportunities available paying upto 12%, secured by bricks and mortar!

    Profile photo of Property TraderProperty Trader
    Participant
    @property-trader
    Join Date: 2002
    Post Count: 111

    Davlyn,

    Great question you ask … Most people who wrap do the paperwork themselves and look for an all emcompassing software solution to manage their properties for them … and you can pay big money $2,000 – $3,000 to get them.

    I have wrapped 10 properties and one thing I HATE is the paperwork and administration that comes with it. Therefore I took a leaf out of Rick Otton book and went off to find a company that would do my cashflow and property management for me. After talking to 8 real estate agents and 1 accountant I have been able to negotiate a real estate agent to manage all my properties for me for 4% (around $40 – $45 per month per property). Therefore if I make say $460 profit spread off a wrap property, for under 10% of it I make the investment passive. To me that is a great scenario. She looks after all the rates, insurance, loan repayments and buyer communication.

    Administration will become a very very small part of my work load. I wanted wrapping to become non-relant on me living and breathing so that I know that I can go away on holiday or die tomorrow and the income would still come in month after month to my family’s trust account without my family member having to know the indepth details of how the business operates.

    One other thing that someone told me is that you make much much more money doing new deals that you do administrating the business. By negotiating a real estate agent to manage my properties it frees up my time to do more deals … Currently I am trying to actively wrap another 4 properties that I have on the go at the moment.

    Regards,

    Jason Moore

    Property Trader | Boston West Pty Ltd
    http://bostonwest.com.au
    Email Me | Phone Me

    Private money lending opportunities available paying upto 12%, secured by bricks and mortar!

    Profile photo of Property TraderProperty Trader
    Participant
    @property-trader
    Join Date: 2002
    Post Count: 111

    Hi Guys,

    I am always interested in hearing from people who run ads and get such a high response rate as I am always reviewing and testing new ad copy.

    The issue that I have is that it is not very time effective talking to 60 “want to buy a home” if only 2-3 have the deposit to quality. Talking to 60 buyers will take say 3 mins each x 60 people. That is 3 hours of call normally between the hours of 6pm – 8pm at night not including call backs etc.

    My goal is to generate as many leads as possible and I would love if off one ad I got 100 enquiries, however I pay someone else who loves talk to people to prescreen and qualify the calls, so that I am only really talking to the 5 people who qualify with good deposits who can do something today. That is using my time effectively. She also fields all my calls from real estate agents and vendors as well regarding properties to buy.

    Well that is my 2 cents worth.

    Regards,

    Jason Moore

    Property Trader | Boston West Pty Ltd
    http://bostonwest.com.au
    Email Me | Phone Me

    Private money lending opportunities available paying upto 12%, secured by bricks and mortar!

    Profile photo of Property TraderProperty Trader
    Participant
    @property-trader
    Join Date: 2002
    Post Count: 111

    Well Andrew,

    I am about the tenth person to congradulate you for doing your first property. I guess one very great relief for you the not having to do the drive time (3 hour around trip) to do open houses …. that was the relief I got when I wrapped a property in Toowoomba.

    Currently, I have teamed up with a person to do quick cash and reno deals … he is a builder and has already done 5 – 8 of them. Show me the money!

    See you in Sydney in 2 weeks time … where are you staying?

    Regards,

    Jason Moore

    Property Trader | Boston West Pty Ltd
    http://bostonwest.com.au
    Email Me | Phone Me

    Private money lending opportunities available paying upto 12%, secured by bricks and mortar!

    Profile photo of Property TraderProperty Trader
    Participant
    @property-trader
    Join Date: 2002
    Post Count: 111

    AD,

    Are you going …. if you are that will be fantastic as I will see you there. I am really looking forward to the seminar as I want to network and get a better understanding to the property strategy I current do not use being lease options and renos.

    Regards,

    Jason Moore

    Property Trader | Boston West Pty Ltd
    http://bostonwest.com.au
    Email Me | Phone Me

    Private money lending opportunities available paying upto 12%, secured by bricks and mortar!

    Profile photo of Property TraderProperty Trader
    Participant
    @property-trader
    Join Date: 2002
    Post Count: 111

    Hi Gianni,

    I use this copy in my Ads

    “SICK OF RENTING?”
    Homeownership Made Easy

    * No Bank Qualifying
    * Low Weekly Repayments
    * Seller Will Finance
    * Low Deposits
    * Bad Credit OK
    * Fast Approvals

    Easy Qualifying … Won’t Last … Act TODAY!

    Call xxxxx on (xx) xxxx xxxx

    I hope this helps give you some ideas.

    Regards,

    Jason Moore

    Property Trader | Boston West Pty Ltd
    http://bostonwest.com.au
    Email Me | Phone Me

    Private money lending opportunities available paying upto 12%, secured by bricks and mortar!

    Profile photo of Property TraderProperty Trader
    Participant
    @property-trader
    Join Date: 2002
    Post Count: 111

    Hi Bruce,

    Just out of interest ….. The 60 people who responded to you newspaper advertisements …. how many of them had healthy deposit say $4,000 plus?(not counting the $7,000 FHOG)

    Look forward to yhearing your response.

    Regards,

    Jason Moore

    Property Trader | Boston West Pty Ltd
    http://bostonwest.com.au
    Email Me | Phone Me

    Private money lending opportunities available paying upto 12%, secured by bricks and mortar!

    Profile photo of Property TraderProperty Trader
    Participant
    @property-trader
    Join Date: 2002
    Post Count: 111

    Hi Matt,

    Great to see that you are venturing into the world of vendor financing in Queensland. The great aspect about Queensland is that your entry price (House Prices) are considerably cheaper than our southern counterparts ….. however the big big bonus for them is that the get the $7,000 FHOG upfront where in Queensland we/buyers have to wait a year to get the FHOG. However, we currently have a number of our buyers who have been in the properties for a year now and we will be getting the $7,000 FHOG so it is a great little surpise a year later.

    I currently live in Brisbane and have completed 10 properties, have four in the instalment contract process and are acquiring another on Monday.

    I hope everything goes well for you.

    Regards,

    Jason Moore

    Property Trader | Boston West Pty Ltd
    http://bostonwest.com.au
    Email Me | Phone Me

    Private money lending opportunities available paying upto 12%, secured by bricks and mortar!

    Profile photo of Property TraderProperty Trader
    Participant
    @property-trader
    Join Date: 2002
    Post Count: 111

    ad call me on 07 3325 4000 tonight and lets catch up.

    Jason Moore

    Property Trader | Boston West Pty Ltd
    http://bostonwest.com.au
    Email Me | Phone Me

    Private money lending opportunities available paying upto 12%, secured by bricks and mortar!

    Profile photo of Property TraderProperty Trader
    Participant
    @property-trader
    Join Date: 2002
    Post Count: 111

    Nessie,

    Sounds fantastic that you are ready to venture into the wrapping world. My only thought is that you look at properties closer to home if you can.

    Being a newbie …. you will need to spend a bite of time in the area that you are going to wrap in knowing the area, talking to people agents etc …. and you will get sick of the driving … I did … I lived in Syndey at the time and travel 1.5 hours to Newcastle each weekend to wrap my first property. I got sick of the 3 hour round trip and so did my wife and son.

    I am currently wrapping our 12th property 7 minute drive from my house and it is amasing that it is so close.

    I hope this helps …..

    Regards,

    Jason Moore

    Property Trader | Boston West Pty Ltd
    http://bostonwest.com.au
    Email Me | Phone Me

    Private money lending opportunities available paying upto 12%, secured by bricks and mortar!

Viewing 20 posts - 81 through 100 (of 108 total)