All Topics / The Treasure Chest / Qld Lawyers (for Tony Barton)

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  • Profile photo of SteveBarnettSteveBarnett
    Member
    @stevebarnett
    Join Date: 2002
    Post Count: 1

    For Tony Barton

    Tony,

    Thanks for the great presentation on Lease Options. What a pity I cannot use them for Queensland Based property. Well at least I can use wraps.

    I spoke to you during one of the break about getting a list of Queensland Lawyers who understand Instalment Sale Contracts. You asked me to place my request on the forum, so here it is.

    Can you please provide a list of contact details for Queensland based Lawyers who deal with Instalment Sale Contracts?

    Thanks.
    [:)]

    Regards,
    Steve M Barnett
    Gorwydd Investments Pty Ltd
    [email protected]

    Edited by – [email protected] on 06/08/2002 12:37:45 PM

    Profile photo of ADAD
    Participant
    @ad
    Join Date: 2002
    Post Count: 636

    Why can’t lease options be used in Qld ??
    I hadn’t heard of this problem ????
    Thanks
    AD

    Stumbling blocks are merely stepping stones for the successful.

    Profile photo of AdministratorAdministrator
    Keymaster
    @piadmin
    Join Date: 2013
    Post Count: 3,225

    Dear Ad & Steve,

    While it is not unlawful to use a Lease-Option Agreement in Qld.,you cannot however contract outside the law and have the tenant pay all outgoings as it breaches the residential tenancy act of Queensland. I suggest then that you look at installment contracts and that you speak to Mark Game in Brisbane 07 3236 0001.

    Profile photo of EKfourEKfour
    Member
    @ekfour
    Join Date: 2002
    Post Count: 35

    Tony, I remember you saying that you’ve got a client that makes $35k per year (salary) & he’s done 8 deals properties through you? Question- how? Would be interested to find out!

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

    Hi Tony,

    It is Jason Moore from Queensland. We are now up to 10 properties (peanuts compared to your housing empire) that we have wrapped of which our most recently one we did as an assignment of contract which was really cool and probably the way we will go in the future. The assignment of contract method that we are using has taken 6 months to research, trial and hopefully perfect …. as aways the first couple of times we tried to do it were unsuccessful, but provided BIG learning experiences … which have got us to where we want to be … Now as long as we find the properties at the right price this strategy will work very well.

    Hi Steve,

    The solicitor that I use is Mark Game and he is value for money in my opinion. He is a solid client base that do wraps of varying degrees (residential and commercial) and is currently looking into lease options as well. His details are:

    Mark Game
    Aylward Game Solicitors
    Level 9
    193 North Quay
    Brisbane QLD 4000
    Phone: (07) 3236 0001
    Fax: (07) 3236 0005
    Email: [email protected]

    I hope this helps you to get started.

    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 AdministratorAdministrator
    Keymaster
    @piadmin
    Join Date: 2013
    Post Count: 3,225

    Good Stuff Jason….

    However, sounds like you are still trying to do all the work…my question to you is: Where is your time best spent to make the most amount of $$$?

    I would love to see you springboard your business and make some great $$$…keep me posted as to how you are going and if I can help!

    Regards,
    Tony Barton[:D]

    Profile photo of SharkMeatSharkMeat
    Member
    @sharkmeat
    Join Date: 2002
    Post Count: 6

    Couple o’ questions:

    Tony – by “contract outside the law” are you referring to the way you (as in your company) use long leases so they fall outside the scope of the Rental Tenancies Act in Victoria? Thus you can put in the contract that the tenant pays all outgoings? By your posting my understanding is that you can’t adopt a similar method in Queensland – a lease option falls under the RTA regardless.

    Jason – can you explain what an “Assignment of Contract” is, as compared to a wrap as compared to an instalment contract?

    Much appreciated,

    Mark Leet.

    Profile photo of AdministratorAdministrator
    Keymaster
    @piadmin
    Join Date: 2013
    Post Count: 3,225

    Dear Mark,

    You are correct actually in the residential tenancy act it says that unless you are the government in Qld you are not allowed to promote a rent to buy or rent purchase type programme. Hey go figure!!!

    That is why you need to use an installment sale in order to “wrap” property as the agreement falls under the property law act.

    Regards,
    Tony

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

    Tony,

    How are you going … I am trying to do as little as possible to generate my business …. but any words of advice would be helpful, we have done the following:

    1. We use a professional secretary service as the focal point for all our buyer, ‘we buy houses’ and real estate agent enquiries. It is working well in screening our buyers.
    2. We automatically email out to 30 agents fortnightly to find properties plus pay them a visit once a month.
    3. We are currently looking at a real estate agent to cashflow and property manage all of our properties … that should be finalised by the end of next week.
    4. We use Rick Otton’s lock box key system that works extremely well, which allows people to look through the potential property without me being there.

    I believe you make your money doing the more and more deals not administering each deal … that is why we have done the above … I am more interested in setting up more deals (matching buyers with properties).

    Please shot me your direct email address at [email protected] and I will shot you an email …. I am always open to new 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!

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