Hello,
This is my first active appearance on this great forum even though I have been an eager reader. I have spent the last few months reading up and researching strategies to create cashflow positive properties and I am now getting started myself.
I have found a few properties that would generate reasonable cash on cash returns based on a 20% loan deposit. The problem is that I don’t have access to equity or cash to cover some of them. I am happy to pass the deals on for a spotter’s fee – how do I contact interested parties?
More generally, how do I go about bird dogging practically? How do I get in touch with potential clients/databases? What is considered a minimum return to be of interest for other investors; is that gross rental return or cash on cash return? (it can be very confusing what people actually man when they talk about yields and returns).
All tips will be greatly appreciated.
HoBeHoBe
Firstly, you would probably need to be licenced. This may depend on what you actually do, how you do it and what state you are in. I’ve put some links regarding this (for NSW) before.
Terryw
Discover Home Loans
Parramatta
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Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Thanks Terryw,
Sorry, I should have mentioned that I live in Brisbane. I’ll check out your previous info on the topic. I might also look into other financing options, like finding a money partner or revalue after renovation, but prior to settlement. Is that actually practically possible? All lenders I have asked about this say that they will only lend for what ever is lowest i.e. purchase price or valuation.
Many thanks
HoBeHoBe
Hi Some lenders will actually revalue before settlement. It all depends on how much equity you can build. Bankwest have done this in the past.
Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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