Hi,
I'm desperate to get into property investing in Australia and am after an experienced mentor to teach and guide me and with whom it would be great to share the spoils!
I'm a student of the Robert G Allen Enlightened Wealth Institute (nothing down techniques) and have been putting in a lot of groundwork on deals in the UK but I unexpectedly have to return to Oz and so want to start investing in Brisbane.
I'm eager to learn, not afraid of some hard work and am always willing to give something a go.
If you'd be interested in imparting your knowledge, or even just saying hello, I'd love to hear from you!
All the best and I hope to hear from you soon,
Nicole
[email protected]Hi Nicole,
What sort of deals were you doing in the UK? Were you sourcing deals and passing onto investors or building your own portfolio (from the deals your sourced) while over there?
Look forward to hearing from you.
Regards,
RobbieHi Nicole.
Drop me an email and let's see if I can help you further.Hi Robbie,
Thank you for your reply.
The deals which I successfully did actually just involved me getting control of the properties without owning them, I then would let the rooms individually which they refer to as an HMO (a House of Multiple Occupation) in the UK.
Other deals that I attempted to do, but couldn't mainly because I've run out of time here in the UK, were profit sharing deals. The idea was to work with the owner on improving the final sale price of the property and to then split the profits. I did also source a couple of properties for others which had mixed success.
I really wanted to do some flips (to generate some capital) and lease options but wasn't able to unfortunately. I'd also like to get some BTL in Oz to start building a portfolio.
What's your situation? Have you been investing for long?
Thanks again for your reply and I hope to hear from you soon!
NicoleRobbieP wrote:Hi Nicole,What sort of deals were you doing in the UK? Were you sourcing deals and passing onto investors or building your own portfolio (from the deals your sourced) while over there?
Look forward to hearing from you.
Regards,
RobbieHi Nicole,
Australia needs people like you. Happy homecoming in advance.
Welcome aboard.
Angel
Hi Nicole,
Sounds like you gained some good experience in the UK.
I built a property portfolio of 30 properties in South Africa in the past 6-7 years and I'm still doing so, no reason to stop just because I'm in Australia. Most of the property I actually sourced myself, but others i also used estate agents, whom i gave my buying criteria.
I have just arrived in Sydney and plan to do the same.
Where abouts in Aus are you based?
Regards,
RobbieHi Nicole
With your mention of being a student of Robert G Allen and doing some Lease/Options, the following information will help you get up to speed with real estate vendor finance in OZ.
The three most popular Vendor Finance strategies are:
1. Rent To Own. This is documented with a Residential Lease and an Option (you are obviously already familiar with these)
2. Deposit Finance. This is often documented with a second mortgage. This is where the Buyer gets a traditional loan for the property and the Vendor finances the remainder. This strategy has become quite difficult to use due to traditional lenders tightening their rules since the GFC and the new National Credit Code.
3. Instalment Contract. Sometimes called Vendor Finance and at other times, a Wrap. See the links below to see how these operate.We've been operating in the Vendor Finance industry since 2003 and it's worked for us. If you'd like to learn more about vendor finance in Australia, I suggest you do a search for Vendor Finance here and in the Somersoft forum. You'll get an immense amount of reading material in both these forums.
A few web resources that may help in your search for information about vendor finance are:
https://www.propertyinvesting.com/strategies/wraps
https://www.propertyinvesting.com/strategies/lease-options
http://www.jvpropertypartners.com.au/index.php?option=com_content&view=article&id=50&Itemid=75
http://www.vendorfinancelawyer.com.au/
http://www.vendorfinance.asn.au/ The Vendor Finance Association of AustraliaCheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
Hi Robbie,
I'm actually going to be based in Brisbane. It's a shame that we wouldn't be able to meet but maybe I can email you if I have some questions or need advice?
All the best
NicoleRobbieP wrote:Hi Nicole,Sounds like you gained some good experience in the UK.
I built a property portfolio of 30 properties in South Africa in the past 6-7 years and I'm still doing so, no reason to stop just because I'm in Australia. Most of the property I actually sourced myself, but others i also used estate agents, whom i gave my buying criteria.
I have just arrived in Sydney and plan to do the same.
Where abouts in Aus are you based?
Regards,
RobbieHi Paul,
Thanks for the info. I'm going to check out those sites right now.
Many thanks
NicolePaulDobson wrote:Hi NicoleWith your mention of being a student of Robert G Allen and doing some Lease/Options, the following information will help you get up to speed with real estate vendor finance in OZ.
The three most popular Vendor Finance strategies are:
1. Rent To Own. This is documented with a Residential Lease and an Option (you are obviously already familiar with these)
2. Deposit Finance. This is often documented with a second mortgage. This is where the Buyer gets a traditional loan for the property and the Vendor finances the remainder. This strategy has become quite difficult to use due to traditional lenders tightening their rules since the GFC and the new National Credit Code.
3. Instalment Contract. Sometimes called Vendor Finance and at other times, a Wrap. See the links below to see how these operate.We've been operating in the Vendor Finance industry since 2003 and it's worked for us. If you'd like to learn more about vendor finance in Australia, I suggest you do a search for Vendor Finance here and in the Somersoft forum. You'll get an immense amount of reading material in both these forums.
A few web resources that may help in your search for information about vendor finance are:
https://www.propertyinvesting.com/strategies/wraps
https://www.propertyinvesting.com/strategies/lease-options
http://www.jvpropertypartners.com.au/index.php?option=com_content&view=article&id=50&Itemid=75
http://www.vendorfinancelawyer.com.au/
http://www.vendorfinance.asn.au/ The Vendor Finance Association of AustraliaCheers, Paul
Hi Nicole
Hate to say in the current climate you wont finance a deal thru a traditional lending source on a no money down basis especially under NCPP.
FHOG Pty Ltd which is a specialist Vendor Finance Company and 1 i have been a Director of since 2000 had over 180 properties under wrap at our peak and is the largest provider of vendor finance in Qld. We no longer seek new business (although of course the demand is ever increasing) and merely manage our own portfolio of deals.
As Paul has pointed out the only options these days with the tightening of Credit are Instalment Contracts and LTO (License to Occupy in Qld) / Rent to Own.
The current climate the number of vendors prepared to offer such a product due to a combination of legislation and cash flow.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hey nicolec,
Sorry for jumping in on your thread, hope you don’t mind.
I am from Brisbane and am also looking for a mentor to help achieve my investment goals. I currently have two properties in Brisbane, one that I live in an the other is a rental. I have a secure job with the government earning around $95k, but need some advice on where to go from here. I am particularly interested in obtaining a few more rental properties, and possible small developments such as sub divisions.
Would be great to get some advice and guidance from some experienced investors here.
Thanks guys.
Guys i hate to say i get approached at least weekly at the moment from people asking for me to Mentor them and I just cant take any more on at the moment.
Other parts of my business are so busy that there are just not enough hours in the week to do everything.
If time allows in the future i would be happy to take on more students.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
That’s okay Richard, appreciate the response regardless.
But yeah I would definately be keen to learn what I can if you take on more students in the future.
Thanks.
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