Personally, I think the moderators do a great job overall. I also believe the reason there is more then one for each section is because we all have a life and at times certain people wont have the time to access the forum for whatever reason wether it be away on holidays, away searching for properties, or even illness. Its great to know that no matter what happens we can always come to the forum and get most of the answers we need. Keep up the good work!
Wonders if any one knows just how much it cost to keep this forum running? I know and it shocked me when I found out. I know this forum and Steve’s book can take some of the credit for what I have achieved thus far. Its certainly helped to get me doing what i had been contemplating for such a long time.
Thanks to all those working behind the scenes also.
How about u tell us about some of your experinces looking for +ve propeties? How many u have found? Have you purchased any of them? If not why not? If so tell us about them?
Yeah I would prefer a joint venture, but I feel a bit guilty asking some one else to fund a deal. Yeah I know I should step beyond my comfort zone, but the way I see it, I wouldn’t want to fund something and split my profits 50/50 with some one else. However if some one was interested in doing so and approached me about it I would most definitely do it. I just don’t feel comfortable asking for it.
My advice would be to get out there and show your face. Ringing agents and emailing them in my opinion is a waste of time as a newbie (well it was for me) but showing my face and showing I was keen really worked. Agents get hundreds of emails and phone calls from potential investors every day. A investor in the office mite just get the a property b4 it hits the advertising circuit as most of the good deals aren’t advertised.
As mentioned in the email i sent to u the 50k house is been rented currently at 100pw on a 3 year lease i beleive. The other is not curretnly on a lease but i am told will get b/w 90-100pw
IS there not a builder in the area u can use? I have recently bought a property where there are no building inspectors, however there is a builder in the area that does inspections, but is not qualified to do bank reports, and at the same time as the inspection he gives a quote on the work to be done. I would check if there isn’t a local in your area that was willing to do this.
I hope this helps
Regards Bear
PS IF he does any repairs this builder takes the price of the inspection off of the price of the repairs. Sounds like a good deal to me.
It is hard, but when u find your 1st one they will keep coming as im finding out.
I am new to all this and just started finding them myself in the last few weeks. I can suggest you pound the footpath to find them, or try many other methods that suit you. Another option is to pay a commission to others for finding them. Good luck which ever path u take, there are many and im sure persistence will get u there.
I know I have about 3 available in Australia at the moment, as do many others.
Feel free to contact me on 0407 607 890 or email at [email protected]
Friday morning the 6th of Dec.and another about a week ago. Both dissapeared and it was suggested by Richmond i think it was after the 1st going missing to check with the office if it was ok to pass other properties on thru the forum.
Regards Bear
PS Maybe the forum software dont like my name…LOL[]
Thanks again Terry and Lazyboy, i think i get the picture and i like it []. I just have to work out the best way to keep the LOC on the PPOR seperate from the other loans. I know i will save interest if i put all my money in there, but then doesnt it becoming an accounting nightmare as mentioned above?
I was planing on using my LOC for the deposits and then take out loans for the remaining. However I think what you are doing is much better, that way when purchased under value we can get a loan on the value of the property rather then the purchase price. IS this the reason you do this? How do you add value?
Some banks will best to talk to some mortgage brokers.
I would suggest as long as you put on the contract subject to finance it wouldn’t matter if u can’t get the loan. But I believe if you really want it you would be able to find the finance.
I wouldnt bother trying to ring or email the agents. I would just go around and see them. I found this much more helpful.
As Steve Mc said in his melb seminar. one agent said to him “one investor in his office is worth much more then 200 emails”.
I have freinds that are agents and they just ignore investors calls and emails in the current market. They in their own words have become content and arrogant. I hope this helps.