2019 Money Magnet Symposium - Discover how to make, and keep, more money and achieve a financially empowered future
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  • Profile photo of dynamicduodynamicduo
    Member
    @dynamicduo
    Join Date: 2002
    Post Count: 21

    WE DID IT!![:D]
    1st positive cashflow deal over the line! 2brm heritage listed & vendor wants to stay on as long term tenant. We were gazumped on 1 other property, 2 we are waiting to hear & we jumped off the cliff & offered on a property that we saw only on the ‘net’. Due diligence proved cashflow + so we faxed our offer with customised terms & conditions to the realtor-who was so gobsmacked he said if the vendor accepts he’ll knock off the day.Vendor accepted but will run it passed his recently divorced wife & reply. The mid north coast is definitely the land of opportunity – why wasn’t I doing this years ago.
    Thanks for the well wishes simon & 4walls.
    To Sooshie, so stoked you’ve adopted the ‘No problems, only solutions’ motto[:P]
    Brett

    Profile photo of SooshieSooshie
    Member
    @sooshie
    Join Date: 2002
    Post Count: 974

    Hi Brett,

    Congrats! By the way, I like to change my motto on a monthly basis, so they don’t get stale, but I’m glad you took notice of that one. I always believe things happen for a reason.

    Go Get Em!

    Sooshie [:)]

    “Giving is a Blessing, receiving is the bonus”

    Profile photo of 4walls24walls2
    Participant
    @4walls2
    Join Date: 2003
    Post Count: 20

    Tiffany,

    Well done. Would be interested to hear what your customised terms and conditions are. You can email me at [email protected]

    Please pardon my ignorance if this is something I am not supposed to ask.

    regards
    4walls

    Profile photo of ThunderThunder
    Member
    @thunder
    Join Date: 2003
    Post Count: 8

    Congratulations to you both…. Bring on the rest of those properties now [:D]

    Profile photo of The DIY Dog WashThe DIY Dog Wash
    Member
    @the-diy-dog-wash
    Join Date: 2003
    Post Count: 696

    That’s awesome well done guys, and keep on free fallin’

    Cheers
    Leigh K[:D]

    Read, learn, grow but most of all just do it.

    Profile photo of walkernickwalkernick
    Participant
    @walkernick
    Join Date: 2002
    Post Count: 68

    Hey Brett,

    Well done that’s a fantastic achievement to get the ball rolling so to speak.

    Are you talking about the mid north coast of NSW?

    Regards
    Nick

    Profile photo of dynamicduodynamicduo
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    @dynamicduo
    Join Date: 2002
    Post Count: 21

    quote:


    Hey Brett,

    Well done that’s a fantastic achievement to get the ball rolling so to speak.

    Are you talking about the mid north coast of NSW?

    Regards
    Nick


    Profile photo of dynamicduodynamicduo
    Member
    @dynamicduo
    Join Date: 2002
    Post Count: 21

    quote:


    Hey Brett,

    Well done that’s a fantastic achievement to get the ball rolling so to speak.

    Are you talking about the mid north coast of NSW?

    Regards
    Nick

    That’s correct Nick,God’s country!


    Profile photo of dynamicduodynamicduo
    Member
    @dynamicduo
    Join Date: 2002
    Post Count: 21

    quote:


    Hi Brett. Curious to know about the vendor turning long-term tenant. Was this part of the vendor’s condition, or was it just mentioned in passing?

    Also, did you have the lease signed at settlement, or are you about to do this?

    Any special considertation for a vendor-become-tenant deal? Kaye and I are interested in this type of deal.
    Micheal&Kaye this was actually a deal we sourced from family encouraged by the spotters fee-so we were already aware of the vendor’s situation.Loves her home that she has completely renovated but due to financial difficulty wants to be elligable for rent assistance.The lease will be signed at settlement with the condition that we don’t increase rent for 12 months.Lease option didn’t suit as she plans to split when her daughter finnishes primary. Brett

    Thanks
    Michael


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