Hey Wealth for life,
The other question i would ask is, Do u need to rent a building? ie do you have a business that can support the mortgage etc with high cash flow? Because the bank/lender will need to see that u/yr business can support the extra liability of the mortgage on this property(I am assuming it has a mortgage) if u rent it to yrself,…[Read more]

Hey Eamo!
Sounds like youve already blown away 99% of all other 19 year olds by saving the 10K!!! You ‘ve done extremely well and yr not far off starting yr investing portfolio!!
I would say keep saving untill youve got about 20 to 25K and then go for it!! Keep researching and getting around people who are like minded and have done some succesful…[Read more]

Hey Solomon,
As far as whether or not to structure yr property in an LLC straight away or after yr loan doesnt matter with certain lenders out there i have found as even if yr property is in an LLc ,they can actually take it out of the llc,(ligitamately) then put it back again after the loan is set up.(on the same day).

Also,as far as whether…[Read more]

Hey Nigel,
Hope the Texas time is going great for u!
Sounds pretty exciting the company yr building.A great opportunity!
Buffalo is going well so far(its my first morning here)
We have a great contact in the HSBC (jamie) bank whom i just met with for 2 hrs!!(she is a sweety, very generous!) Set up some interest bearing accts ,LLc accts etc
Jamie…[Read more]

Hey Westan,
Hope things are going well for you!
Yr contact Kelly in Texas has given people a real head start in investing over there.
Someone is definately smiling on you!!
I can recomend to anyone who is looking to invest OS to give Kelly Kenne a try .She has awesome integrity! Of course spend some time there and get on the ground and do yr own…[Read more]

Yes Texas has got some exciting things going on!
I just left there this morning and arrived in buffalo.

There are so many different areas to invest in Texas,heaps with good returns and growth prospects!There is a real positive vibe in the city!The people actually love their place.There is less of the victim mindset of other areas of the US I have…[Read more]

Hey Teach,
There is Jim Hickey at Ljhooker (go to ljhooker .com.au)
There is Schinellas.com.au also
Personally I would try find yr own deals as well by advertising in the local papers.
B.Hill prices have pulled back abit over the past 6 months so just do yr DD.
Pm me and i might be able to give u a couple of leads.
All the best

We’ve got 70 yrs…[Read more]

Hello Caitlin,
All the best with yr new steps!
As far as the banks taking into account income from property deals,I have found that they need to see more than one property deal profited from .If yr income starts to show a pattern though of succesful deals they will look at you with more favour.
I would suggest to make up a specific plan and show…[Read more]

Hey Obi-one,
I would say if yr looking at investing over there do some research on some buyers who have invested (for a min of 6 months)with the agent/company you are considering to buy through .Call the buyers and get a personal recomendation /understanding of the quality of property management etc. I would also recomend getting full seperate…[Read more]

Yes, Be very careful with this company!
They have not had extensive experience in the area yet.

We’ve got 70 yrs on planet earth,Lets make the most of every day!

Sounds like good news!!

What sort of time frame can yr clients expect to have a loan closed?
Thanks again.

We’ve got 70 yrs on planet earth,Lets make the most of every day!

Ha Ha Far out Man youve had a rough trot!
Between this and yr other post youve had some real deals goin on!
Hope things have improved lately!
Do you have an agent helping you in managing yr propertys?

We’ve got 70 yrs on planet earth,Lets make the most of every day!

Sounds great Richard!

How much specifically are the up front loan fees say on a 40K property?
Thanks heaps!

We’ve got 70 yrs on planet earth,Lets make the most of every day!

allymac,
hope you got my pm!
I have a good contact in Buffalo for management that i am happy to share with you as i know how frustrating it can be trying to look after yr investments from 1000s of ks away when yr manager isnt on the job.
He is efficient and he handles repairs at a very fair rate too.
He even phones on a regular basis to update…[Read more]

Hey mate,
send me a pm and ill give another contact for finance if needed!

We’ve got 70 yrs on planet earth,Lets make the most of every day!

Hey adrianj27,
Is that the meeting in sydney yr talking about?
Yes I went too!
They seem like really integral guys to me.
I know Chris actually(the young fella they spoke about)
and he is a really honest man!

They say they believe in balancing out positive cashflow and negative (but hope full capitol growth ) investments ,which is good as long…[Read more]

Hello Summer2006,
I can understand yr concerns.
I personally have learned a policy in my business and that is dont do business with friends.
I find that little mis understandings can creep in and put pressure on good friendships.
Of course its yr personal choice as you know yr boyfriend and the situation the best.

luke

We’ve got 70 yrs on planet…[Read more]

The other thing Justallan is sometimes the variable rates come down too though
so if yr fixed at what is a lower rate now there is a possibility during the life of the loan the variable rates may come down lower

Regards Luke dematio

We’ve got 70 yrs on planet earth,Lets make the most of every day!

I was thinking people could put photos up of a house they had bought in the process of their own personal investing.(rather than people trying to sell propertys)
Then show people how much work it needed, how they went about it , how much they payed for the property and the general area.
Maybe not the exact street but a general…[Read more]

DLPP what is yr reasoning for that being a bad idea?
It would help encourage newbies for sure .I guess people would lunge on the areas shown, but a bit of competition doesnt worry me.
Is that what yr getting at?

We’ve got 70 yrs on planet earth,Lets make the most of every day!