All good advice here…. on the flip side to many of the people here, i get a GREAT number of my deals through Real Estate Agents.
They can be a mixed bag. Sometimes i find the newbies great as they'll listen to anything to get a first sale over the line and often let you get to the seller with some clever words. Oftentimes the deal is all agreed…[Read more]
Theres plenty of people doing plenty of deals in Perth, and all across the rest of the country for that matter.
I do deals all over Australia even though I'm in Melbourne. And i have friends in Perth who do great.
LIke the others said you need to apply what you learn.
You should consult a solicitor ideally located in the state where the property is located. If you tell us your state i can suggest a few… or otherwise you can ring around all the solicitors in the area and ask for the property specialist in the firm. Ask them if they've ever done an option agreement, how many, have they ever had to…[Read more]
Some favourites of mine:
Anything by Robert Kiyosaki- after 15 years of reading his books, i still buy every new book he comes out with.
Anything by Alan Pease who wrote Talk Language and Herb Cohen with Negotiation This when it comes to negotiatin.
Rick Ottons How To Buy a House for $1 for an Australian based property options and vendor financing…[Read more]
Hi, Yes agree with Derek on the books, Steves books are good for general getting started and cashflow investing with formulas to help with your number crunching. Id suggest to not read one but many! Every author has their own spin/take on property and I've learnt something from every single book i've read on the subject, and still do. Once you…[Read more]
You can track down the owners and find out which Bank its with and see if you can negotiate. Banks will negotiate depending on the circumstances of the property – particularly if they know they are likely to take a big loss on the property at mortgagee auction. The higher the loss they are facing, the more negotiable they will be, even if they…[Read more]
Yes agree with Paul there, never been able to convince an existing tenant to take on the home they already live in on a rent to buy. They have a hard time understanding they can own the home for a bit more cash each week. They usually dont want to pay more to enjoy the same house, even though they can own it. Its a bigger headshift for them.
There really isn't anything stopping you from doing your first transaction interstate if you really dont want to do lease options in SA, although from my understanding SA is fine with lease options but instalment sales are ruled out due to laws in SA. Once you do one 'remote' transaction you'll see how much easier it can be to not HAVE…[Read more]
Hi Tanya, theres plenty of information out there, but if the purchaser needs vendor finance, have they suggested to you how they want to proceed? as in what terms they are asking for? Perhaps the person asking this already knows a lot and you can ask them too.
Lots of information is in Ricks new book too How To Buy A House for $1
Perhaps dip your toe in the water with a cheaper property with a small reno budget so you get the idea of things first?
My first reno was a house i got for 93k (over 10 years ago now but still cheap for then…) I spent 5k, got revalued to around the 130k mark at that time from memory. I learnt a lot!!! By doing this i also increased the rental…[Read more]
I've also heard other opinions from people who recommend to just get out there and start investing and use the profits to set up all those things once you've got the money to do it, as it can be expensive. I didn't do this and not necessarily recommending it but its another thought out there to consider…
Omg Derek this has happened to me!! Lol I had some scammer, probably one of those Nigerians copy my renatl ads on gumtree with different rental figures more than once. I think gumtree have cleaned this up a lot now though.
What part of property actually interests you! There are so many facets to real estate, development, buy and hold with negative gearing, renovation, cash flow positive with buy and hold or with terms sales, subdivision, commercial, options, I could go on. Work out which interests you first then seek the best course in that field….
There is nz paperwork in there and Rick will give you UK paperwork too if that's appropriate. he is also giving his new book away for free at his book tour he's doing now… How to buy a house for $1 I started with Ricks strategies over 6 years a go and can definitely recommend his stuff, I still get mentored by him and help out at there training…[Read more]
shereebecker replied to the topic just been to a positive real estate investment seminar in the forum Heads Up! 8 years, 10 months ago
Yes! good to bare in mind everyone sells, whether your a big business's, small business, self-employed person selling your skills or an employee selling your time and skills to an employer, everyone is selling to make money.. As long as the "customer" feels they are getting a value exchange . I pay my mentors a small fortune but by golly they make…[Read more]
Lol Paul true there are much more elegant solutions than the sandwich lease option these days, especially with joint venture agreements being more prevalent now .. But occasionally it seems to be the right solution for some parties
I've done these before, not too tricky, the investor is subleasing to their tenant and should get your permission for this in writing from you. 2 bonds, you can put the 5k wherever you like but I've always been advised to put at least $100 towards some sort of a bond for your insurance company as they like to see some sort of a bond., you could…[Read more]
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