This one has been on the drawing board for at least a year. I remember some press for this early-mid last year and people paniced then about the future of wraps. I am with Brent on this one. The bank may see potential profit in this but I don’t think they want to own property in such a way. As it is they have an interest in the properrty but this shared ownership would open up a whole heap of potential headaches when they are at present trying to reduce their problems by sacking staff all over the place. Who knows maybe it will occur but I don’t think it will change the market much as people dislike banks already.
Imagine the con men feeding off this deal. There would have to be some great angles to pick up on here. Who knows depending on how it works it may improve our investing potential….. woohoo.

Enjoy
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(Andrew)

“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
Albert Einstein

Oops started a new post on similar lines without checking down further…..oh well.

I had a hoot at the seminar and thanks go to all the guys and gals from PI.com[] for their hard work. Thanks also to you guys and gals who came and encouraged me to have a bigger and better 2003/4. Time to review those stats and dreams. If the people from PI land run year 3 of the seminar I want to be ble to come back with a big smile on my face. Good to meet some of you personally as well Soosh, Nessie, Nathan and many others. Wilandel I didn’t get to catch up or Enjolady and that was disappointing. I am sure there were many others amongst you and i am also disappointed not to have put names and faces together. Oh well. Next year.

Don’t forget to keep that journal going…….

Enjoy
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(Andrew)

“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
Albert Einstein

Hey Andrew,
The thing with owning your own IP is leverage. This game is all about leverage. You want to own as much as you can with as little down as possible. So for example.

you buy $50K worth of property funds, you now own $50k worth of property funds.

you buy $250K worth of property (80% lend with deposit of $50K) OR
you buy $500K worth of property (90% lend with deposit of $50K

you have control of a lot of property that can grow in capital and possibly provide you with some income in the future or even now. $50K in funds will maybe do 10-15% on a good day. so in 1 year you earn $5-7500K. If your property only grows 5% then at 250K you have made $12500. At 10% – $25K. Do you think it is possible if you buy well to see your property grow at least 5-10% per year ??

To me it is a no brainer. I do not trust fund managers as they do not have my best interest at heart. Also if I do these deals then I learn a whole lot of things about property that will continue to make me more money over time. If you hang around forums like this not only can you leverage your money through property but leverage your knowledge off others who have been there.

I know it may seem daunting buying propety but keep on asking questions and reading info and hunting property. Also remember your first deal may not be an earth stopper but it will teach you a lot that if you are clever you can continue to apply.

Hope this helps.

Enjoy
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(Andrew)

“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
Albert Einstein

Hey cherrie,
Drop me a line at [email protected]

Enjoy
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(Andrew)

“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
Albert Einstein

Try this fellow,

http://www.gatherumgoss.com
Dale is the man and I use him and I live in Brisbane. He is a moderator on Somersoft forum and answers question sin the API Magazine so he is not too bad.

Enjoy
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(Andrew)

“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
Albert Einstein

Time, property improvements are two things that come to mind. If they cannot refinance then they will have to wait until they can.

Enjoy
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(Andrew)

“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
Albert Einstein

Hey H,
you certainly can Vendor finance them. The trick is to decide what you want to charge them so you both feel confortable. Also you would want this to be contractual just in case things get messy. Often people think they won’t but it does happen. Another option is to lend them a deposit at an interest rate (also contractual) so they can buy the house themselves and carry most of the debt from a bank. eg. House for $200K you may lend them $25K at 8% and they borrow the rest from a bank. This will also give them a chance to get the FHOG. Maybe they could agree to repay you some of the loan with the FHOG which frees up more of your money. Going to the bank gives them a chance to start a credit history for the future (as long as they on’t stuff up). You could even ask for a second mortgage to be noted (solicitor) after the property has been bought and financed (so as not to get the bank antsy).

Hope this helps.

Enjoy
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(Andrew)

“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
Albert Einstein

Hey Regina have you tried value adding ??

Enjoy
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(Andrew)

“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
Albert Einstein

Well done Rick,
Hope this is a great stepping stone that will catapult you into property investing. Don’t let ne be it keep on plowing into this website oand any other material to educate yourself.

Well done……….

Enjoy
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(Andrew)

“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
Albert Einstein