Forum Replies Created

Viewing 6 posts - 1 through 6 (of 6 total)
  • Profile photo of BibbzterBibbzter
    Participant
    @bibbzter
    Join Date: 2009
    Post Count: 8
    April 30, 2009 - 10:25 am

    Thanks for the reply but unfortunately I'm in Melbourne :(

    Profile photo of BibbzterBibbzter
    Participant
    @bibbzter
    Join Date: 2009
    Post Count: 8
    April 29, 2009 - 4:16 am

    Hey again.

    Matt. I hear what you're saying and I feel I'm getting shot down everywhere I go. I really want to get a foot in the door somehow
    and be able to learn from someone who is making a good profit on property (developing, flipping or renting out)

    I've never heard of Bird Dogging. Have to do some research on it.

    Any suggestions where I might find some good info on it and what I would have to do to get a license for it if necessary?

    How do you find the cash rich money poor people??

    And where can I find a good mentor that will take me under his wing and show me how it's done? I'm willing to work for knowledge (and maybe a small salary) but the more research I'm doing the more it feels like 99% of the Real Estate Gurus are Scammers and they all want loads of money up front :( It's really hard to separate the genuine from the fakes.

    Profile photo of BibbzterBibbzter
    Participant
    @bibbzter
    Join Date: 2009
    Post Count: 8
    April 26, 2009 - 11:23 am

    Has anyone else been involved with http://www.propertyoptions.com.au ???

    6000$ seems a lot to start out if you're not sure that you're being scammed…

    If they are serious and sure you are going to make huge profits why not take that money out of
    your profits when you start making money?

    Profile photo of BibbzterBibbzter
    Participant
    @bibbzter
    Join Date: 2009
    Post Count: 8
    April 26, 2009 - 7:01 am

    If the 2:nd poster is correct banks don't lend if you get vendor financing anymore. Is this true or does it depend?

    We have tried to get a rental for about 3 months now applied for about 10-12 apartments and applied with a
    pet rental agreement and a small resume for our dog and it seems like they pick people without dogs just to play it safe.
    We have never had problems getting a rental before and we have moved around 6 times in the last 5 years and
    probably looked at 200 apartments in that time.

    We have mainly applied to a bit older properties with courtyards but still no luck and now I think it's a lot better if we just
    found a way to buy a house we could fix up and sell in a year as we are moving to Spain and we really need to get some
    money together for that.

    Profile photo of BibbzterBibbzter
    Participant
    @bibbzter
    Join Date: 2009
    Post Count: 8
    April 26, 2009 - 5:41 am

    Would it be possible to get a 80% loan of the estimated house? Or is it the actual purchase price you can get 80% of?

    If I found a house and I bought it for under 80% of its value would I be able to get the whole purchase prize?

    Or would a deferred payment of say 2 months work? That way I could buy a house in need of some renovations
    and fix it up and have it valuated again. And if that valuation would be 20% over the purchase price would I be able to
    borrow the whole purchase price from the bank?

    And what if I bought a house with a granny flat or a room that I would rent out. Would that make a difference to the
    possibility of a loan?

    I'm just trying to find ways to secure a loan for a no money or very little money down mortgage. We really want
    to get a house that we can fix up and possibly sell for a profit in a year. Especially now when our landlord called
    and told us she is pushing the rent up from 240$ to 350$… insanity!! And it seems impossible to find a place to rent if you have a dog.

    Any help is appreciated.

    C

    Profile photo of BibbzterBibbzter
    Participant
    @bibbzter
    Join Date: 2009
    Post Count: 8
    April 23, 2009 - 12:58 am

    So that is final? I have to come up with 60k$ just to buy a flat in my area? That would mean I have to save 1000$ a month for 6 years and then the house prices would almost have doubled again so I would need 120K$. And I had to save another 6 years. And then I would need 240K$ but I would only have 120K$…  And then I would have to save 1000$ for 12 years to save for a deposit… Well you see my point :(

    There has to be a way around the 20% deposit otherwise I will never be able to afford a house.

Viewing 6 posts - 1 through 6 (of 6 total)