This appears to be a win/win situation for investor and buyer alike. However how do these people connect. I am a professional business woman with an excellent income & references wanting to connect with an investor who needs the perfect tenant wanting to purchase a property.
Living in the Redlands district of brisbane.
If anyone is aware of a company or groups of people that I can talk to, I would appreciate any feedback. Cheers Karinyakaren jacobsen
The way I did it was by checking out the newspaper classifieds under finance, or new homes. Usually the wording is something like: Low deposit, no financials, etc. Alternatively, and something I was thinking might work is to place an ad yourself seeking investor. This forum is the best place to start as most participants are familiar with how they work. Yet another way is to contact the real estate agent (for a house you’re interested in) and asking whether the vendor will settle 80% now, and 20% in 12-24 months time (and providing it’s agreed you can move in). The real estate agents I’ve spoken to understand this wording better than asking whether the vendor will finance. Just an idea. [cap]
hi aaron,
sorry, don’t quite understand… how do you then work out contractually to pay the remaining 20% to the owner. Will you own (and occupy, derive income from) the house in the interim?
Also if you’re making the move (and ask vendor finance) I presume you’d have to be searching for a loooong time to find someone willing to do it(?), or is a considerable number of vendors open to this idea?
thanks
Originally posted by karinya:If anyone is aware of a company or groups of people that I can talk to, I would appreciate any feedback. Cheers Karinya
karen jacobsen
Hi Karen
And welcome. I have been investigating a group in Brisbane called Cashflow Programs, who effectively run small seminars teaching people about Lease Options.
They basically match up the investors with the tenant, and so far everything has checked out ok with them.
Why not give them a call and see what they can offer you? Make sure you get a good solicitor though to read over any documentation.
http://www.cashflowprograms.com
Or alternatively, if you have a good income, may I or any other broker on this forum help you with 100% finance? It will be cheaper for you than a Lease/Option.
Brendon
Acute Mortgage Reductions
http://www.acutemr.com.au
[email protected]Hi guys DD with a last post(pun) before Fiji tomorrow.
We are looking to do an 80% now 20% 12 months on our Sydney home. Its 5 bedroom 2 bathroom, dual driveways, covered entertainment area, good family area near schools and shops in a newer suburb in western sydney near the new Sydney orbital(about 2 ks) on and off ramps.Reason for this is that we have already bought a new home in Coffs Harbour and need cash now. Anyone interested please private message me so I can contact you as soon as we are back from Fiji.
House price reduced from $429k to $380k as we need the cash. Freshly painted including window and door trims. Tiled kitchen, dishwasher, Spa in 2nd bathroom, private parents access(shhh).
And a good size timber cubby we are leaving sadly due to sloping block in new home. Cubby has hardwood flooring with lino covering with grandmother made curtains and preschool paintings on the walls. Freshly painted inside and out last year. This cubby as possible second rental return (playmoney only) is great for the family buyer or the investor with an eye for a bargain. House has options too.
Sorry for the add but we eed a quick sale guys. Who better to ask than you all here.
DD[worried]
Don’t sweat the small stuff,and it’s all small stuff!!
Karinya
I run a Company in Brissie called First Home Owners Group Pty Ltd.
We specialise in Vendor Finance and have been involved in this form of funding since 1996. To date we have acquired over 146 properties in Qld which we have subsequently wrapped.
What price are you looking at?
Feel free to email me and we maybe happy to assist.
Cheers Richard
richard at fhog.com.au
http://www.fhog.com.auThere is no such thing as a problem.
Just a solution waiting to be foundRichard Taylor | Australia's leading private lender
karinya,
If you have an excellent income and no credit issues, then why are you seeking a L/O? My understanding of a LO is that they would generally be for people who are similar to wrap clients- those with damaged credit records, recent immigrants, low income earners, and others who don’t fit into the regular banking system.
If you’re in a healthy financial situation, wouldn’t you be better off negotiating a house without paying the additional premiums involved in a LO?
kay henry
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