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Alexander2
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@alexander2
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Post Count: 82
November 21, 2003 - 4:11 am
Great point[] I wonder if anyone out there lives anywhere in Central QL and would be able to check a place in Biloela for me… hehehe[]
Alexander2
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@alexander2
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November 21, 2003 - 3:40 am
Anybody ever completed a successful lease option, either as an intermediary ao as the final buyer[?][?]
How’s your work going MMmerlin??
Alexander2
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@alexander2
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November 21, 2003 - 3:34 am
Has anybody done, or is anybody doing this right now??
Should I be making the effort to actually get a few potentials and make the trip myself[?]
Alexander2
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@alexander2
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November 21, 2003 - 3:14 am
I like your idea Herme… Check out the area you wish to source property in, click your lower end of the scale in pricing for rent…. check out the local rental prices. Then go and check out the sale prices for the same sized appartments or houses.
Cheers, Alex. Mc
Alexander2
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@alexander2
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November 21, 2003 - 3:04 am
I believe Credit Union has an offset facility at the moment which is fixed at 6.3?%, however I have a feeling it’s only over a three year period. That’s fdefinately the lowest I’ve seen at the moment. []
Alexander2
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November 21, 2003 - 2:57 am
Work hard for ME and the FAMILY, retire young!![][]
Alexander2
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November 21, 2003 - 2:53 am
Thanks for the input guys… And don’t worry C2 I’m actually just looking to learn from this excersise. I’ve got a developer and architacht looking at it for their own personal use… I’m really just interested in learnign anything I can while I’ve got the papers in front of me.
The council’s been helpful, though I know there are ways of negotiating unit size etc based on the council’s restrictions of the amount of BEDRs and car spaces and the like.
This particular property is Old Systems Title: I’ve been advised that until this is approved for Torrens Title anybody can make claim that they somehow own the land due to old relatives or ancestors living on the proprty. Not that it’s a very frequent occurance, though the finance or offload to developers may be a lot harder because of it.
I’m just going to soak up as much as I can while dealing with it.
Cheers, Alex[]
Alexander2
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@alexander2
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November 20, 2003 - 2:14 am
MM, sounds like a really good piece of software…. Looking forward to checking it out, I’ll get rgistered on that site today. I think your idea would really narrow your target market and make it quite a lot easier to pick your propeties more effectively. [^]
Riff- I’ve heard of businesses who do it as well, I have a friend who owns a franchised Cake store who lease options places with the guarantee that the premium price will be met from the rent and revenue generated by the shop. this might be something I look at further down the track..
Thanks for the info guys…[][]
Alexander2
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@alexander2
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November 14, 2003 - 3:00 am
Most refinancers, whether they be private or public, will ask for an internal valuation by one of their own proffesionals in the area. I guess a good idea woulld be to get your own valuation done on the house and then find what the average LVR (Loan to Value Ratio) for your area is. This can be done by enquiring through any refinancer who will tell you what % they lend to people against their house in your suburb. Most common is 80% unless you’re in a spacious rural area or a very dense part of inner city.
Once you know what you’re aiming for shop around until you find a lender who will go close to your need.
It’s sometimes good to go through a refinancer who deals with a lot of lenders as they can arrange for your money to come from a lender who has less restrictions based on LVR. This means you can borrow more against the valuation that has already been made.
Cheers,
Alex
Alexander2
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November 14, 2003 - 2:24 am
Thanks for the reply to this topic mmerlin. I’d like to hear mor about your software which you’re using in conjunction with the internet, based on the change in rental price over a certain period of time. I’m doing the same thing with my friend. What I’ve found is that we have a couple of different steps we have to go thorugh before we can even make a call to the owner. First is sourcing the right address to the rented property if it’s not registered on the net, which we do sometimes just by contacting the agents. Then we locate the address of the owner of the property via an internet engine, then we place the call yto the owner. You mentioned that you’ve had a problem before with the owner backing out due to lack of knowledge of the options idea. I don’t think you have to let the person worry about that side of things until the paperwork comes about. My friend and I base our call as people in the rental market who are looking to purchase down the track…. As you say I think it will be trial and error for a little while, what we’re trying to do is shorten our work load sifting through the potentials. I’d like to hear more about your software, I think that sounds like a great idea.[^] [^]
Alexander2
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@alexander2
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November 13, 2003 - 11:59 am
quote:
quote:
Shaunwalker – how do you have neg gearing AND positive cashflow at the same time?
Hi RubbacHook, i use that technique, negative gearing and postive gearing… its called offset gearing, well i wouldnt be too hyped about it, this is the type of way i invest and i have managed to purcahse quite a lot of property in a short amount of time, though many of the people on here doubt me cause of my age and how i talk about negative gearing or other things i have mentioned. Simple rule “Where you make a profit you make a loss, maximise your lost and turn it into a profit” – thats what offset gearing is.
Sorry not to touch more on this, as i get flamed for most comments i say.
still_in_school

Still_in_school, feel free to conversre on this topic, if you back your ideas I’d like to hear them. Cheers[^]
Alexander2
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@alexander2
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November 13, 2003 - 11:51 am
yeah, I think there’s a fee for any information gained through the council based on property owners. So this becomes hard when you’re after a hundred diferent details. I’m wondering if there are cheaper ways, like a membership through RPData, or something similar??
Alexander2
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@alexander2
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November 13, 2003 - 5:12 am
Thanks Bill, that’s kind of what we’re looking at. We have considered that we may be able to onsell the option for a profit depending on whether the property is able to be developed on etc. What we’ve found to be hard, is the actual contacting people who own the property because we locate the properties via rental promotions. Is there an easy way to locate the owners of a rental property??[?]
Alexander2
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@alexander2
Join Date: 2003
Post Count: 82
November 9, 2003 - 8:22 am
The spreadsheet is great, it looks as though it provides accurate and informative figures. i had one query: Is there anyway of upping the years in the repayments section of the mortgage to anything over 3 years??
thanks