All Topics / Commercial Property / Vendor Financing Commercial Property

Viewing 6 posts - 1 through 6 (of 6 total)
  • Profile photo of Rickster123Rickster123
    Member
    @rickster123
    Join Date: 2009
    Post Count: 8
    December 10, 2009 - 2:02 pm

    Hi

    I would like to hear from anyone who has had experience with Vendor Financing of Commercial Property.

    Regards
    Rick

    Profile photo of wealth4life.comwealth4life.com
    Member
    @wealth4life.com
    Join Date: 2003
    Post Count: 1,248
    December 15, 2009 - 11:41 pm

    Yes I have offered this …

    The secret is the finance agreement … "Vendor Finance Agreement Document"

    Costs about $4,000.00 to have it drawn up by a good solicitor … no you cannot have a copy of mine for FREE but I can send you a template for $1,000.00

    Profile photo of Rickster123Rickster123
    Member
    @rickster123
    Join Date: 2009
    Post Count: 8
    December 23, 2009 - 12:26 pm

    Hi

    Thanks for your reply, as well as the offer of a template. I'm busy negotiating to purchase a commercial property and may take you up on your offer early in the new year.

    Were you looking to sell a property on this basis? I'd like to chat to you about a few of the ins and outs of the process, in an effort to hone a viable concept that I can use repeatedly. Let me know should you be willing to help me brainstorm this.

    Regards
    Rick
      

    Profile photo of Paul DobsonPaul Dobson
    Participant
    @pauldobson
    Join Date: 2003
    Post Count: 1,196
    March 2, 2010 - 11:50 am

    Hi Rick

    Yes we have experience vendor financing commercial property. I notice you're considering buying with VF.  Have you decided what strategy to use for the purchase yet, i.e. instalment contract, lease/option, 2nd mortgage carry back, etc?

    Cheers,  Paul 

    Paul Dobson | Vendor Finance Institute
    http://www.vendorfinanceinstitute.com.au
    Email Me | Phone Me

    An alternative way to finance your home.

    Profile photo of Rickster123Rickster123
    Member
    @rickster123
    Join Date: 2009
    Post Count: 8
    March 2, 2010 - 12:18 pm

    Hi Paul

    Thanks for your email. At this point, the most likely methods would be either Instalment Sale or Second Mortgage Carry Back.

    Since these methods are rarely used here in South Africa, I'd like to develop a few viable strategies, with which I could approach the market. I would like to educate myself accordingly, since I'm beginning to build a commercial property portfolio of my own.

    I come from a commercial mortgage lending background, so I have a fairly comprehensive knowledge of finance and property investment fundamentals. So, if I can combine this, together with my industry contacts, with a sound VF strategy, I believe that I could then pursue a few worthwhile prospects.

    I look forward to any possible guidance or advice you might have.

    Kind regards

    Rick Vimpany

    Profile photo of Ang67Ang67
    Participant
    @ang67
    Join Date: 2013
    Post Count: 1
    May 22, 2013 - 5:36 am

    Hi Rickster123 

    I was hoping you are still around on this site as I would love some info from you.  My husband is from Capetown and lives here in Oz with me.  We have always wanted to buy a house over there with VF.  Can you tell me if that is possible?  Any info would be greatly appreciated.  Cheers.

Viewing 6 posts - 1 through 6 (of 6 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.