Forum Replies Created
Hi Lightning,
how did you go – did you end up purchasing ?
I’m in the same boat – wondering how useful other investors find this data.
Any other comments anyone ?
Daniel.
Hi all,
The meeting was great – I look forward to the next one (should be able to make it).
Len – thanks, I received the contact details.
Thanks again to everyone who helped organise it.
Cheers.
Daniel.Greg,
thanks for your reply.
The simplicity of your solution is great – for those leasees who are happy just to know the status of things.
Potential leasees could reasonably query the security of their investment (I would). Let’s say $2000 option fee + $100 extra per week for 2 years… this is up to $12,000 dollars that is unsecured… have you found that some leasees bawk at this (or not), and if so, what can be done about it ?
Cheers.
Daniel.Nathan,
your second point brings me to a more general question for the forum: how does the leasee either know or have assurance that their option payments (both fee and extra rent) are not going to vanish if the leasor stops paying their repayments and the IP is repossessed.
Of course it is to no benefit to the leasor to have their property repossessed, but as a leasee, they should have some protection or at least fallback in this scenario.
I was thinking of some sort of payment process through a neutral intermediary (eg solicitor) where the leasor sees that the rent payments are made, and the leasee sees that they are applied to the loan…. can anyone think of something better than this ?
Thanks !
Daniel.
