ps: Thanks for all of your constructive posts too !

Hey Quasimodo

I have just realised that you are located in Cananda (well it is hard to answer questions and be observant… [])

I have just been reading “nothing down for the 90’s” by Robert Allen.

From this & other books I understand that there are a considerably broader range of techniques available in the USA and Canada for creative…[Read more]

Stampeze

I agree with AD & Quasimodo. Positive cashflow feeds you (property is an asset), negative cashflow eats you (property is a liability).

There are, however, legitimate investing reasons to have a negative geared property, BUT, you must fully understand the downside risk of this. ie, you are absolutely dependant on a rising market to…[Read more]

Quasimodo

SENSATIONAL call !!

the B

Hi all

Steve & Paul Harpers new product “Wealth Guardian” covers these issues in depth and is straight forward to understand.

It is a considerably expanded set of notes based on those presented at the last Masrters event.

Steve can probably shed a little more light on this []

cheers

the B

Quasimodo

OPM (Other Peoples Money) in the form of…. Vendor finance !! []

You need to negotiate with bank re second mortage (if Vendor loan is secured) as they may reduce the LVR to deal with it. We have been told no to LMI if we use a second mortgage, but, if it comes up we will ask again as the answers sometimes change given a little time…[Read more]

Qasimodo

we have similar experience to AD. Make agressive (not ridiculously low) offers and look for the win/win.

we also have agents givning us ‘first call’ now.

the B []

Hi All

good preci’ jumbo.

Our reading of the market is that is is hot hot hot. We have been trying to buy property in Tas, but have been out bid many times by elusive “investors” []

Seems to us that many people are just getting on the bandwagon and buying; irrespective of doing their due diligence.

Missed out on two a few weeks back where we…[Read more]

Hi all

a real winner for us has been adding an electrical inspection clause to our contracts.

I mentioned it in a post a few weeks back. Since then we have purchased some ex-commission places that looked great but had original 50’s wiring !

In all instances we have saved between $1,800 and $4,000 by negitiating for the Vendor to carry out all…[Read more]

ps:

please tell us how you get on, and your impressions with their service.

B

Hi Jumbo

our only contact is in Hobart:

WT Partnership
2/88 Bathurst Street
Hobart Tas. 7000
ph.03 6234 5466
fx.03 6231 1314

Have not used them yet, but they came recommended, and sounded professional on phone.

Min sharge is a few $100. For smaller jobs charges are based on time.

cheerio

The B [] r …… u …….c………e.

Hi Sandi

Hilary and AD have pretty much said it all!

In summary:
1) Write it into the contract
2) Convince the Vendor’s solicitors that it is OK. We often put in a clause that says we want access after we have gone unconditional. This seems to satisfy most people.
3) Ensure that the contract goes ahead to completion (if it doesn’t, you must…[Read more]

Dave T

another approach is to do works on the property during pre settlement and then have revalued as you have made substantial increaes to the security value of the property.

the B []

Saskatoon

it is my understanding that once stamp duty is paid on a loan if you have it refinanced you are not liable for stamp duty a second time; as a loan on the security (the property) has already been stamped.

Anyone else have any clarity on this ??

the B []

Hi all

1) If you are confident that the market is rising, go for a long settlement (at least 6 months) and hope that the market rises enough for you to get in at new valuation (hopefully closer to the magic 80%)

2) sign it up and on sell to another invstor, again requiring longer settlement

3) variation on 2) is to sign up with a long cooling…[Read more]

Hey 4 walls

do you reckon that you can add, subtract and drive a calulator (though I guess that you could use an abacus if you are really into it [])?

When I attended the event I was impressed by the level of the notes. There are many fully worked examples and even better, places for you to work through stuff yourself while you are there, so as…[Read more]

Hey Leigh

great claculator, thanks for the link. I reckon that Sooshie will like this for her part of the site :o)

The B []

Hi all

our experience is a lot like Anna’s, most of our friends are supportive but for many it really isn’t in their paradigm (nor does it need to be), even though they can see it working for us.

Mmmm, however, I have finally got to the point where I am not too shy to mention that we do a bit of property investing when we are asked what we “do”…[Read more]

Hey Go Girl

whip out to the local book store and order a copy of John Burley’s (Australias) Money Secrets of the Rich, (thoughtfully marketed in a green and gold cover []).

We found it invaluable in getting over the first hurdle of getting the dollars together.

It has some day by day practical things to do (many of which are not glamourous, but…[Read more]

Nathan

how does this affect the Vendors tax position wrt CGT etc etc ??

the Bruce[8D]