Forum Replies Created
Thanks wayne,
this one i would say no, but i am trying to figure out worst case for myself & keep the developer happy.
Cheers,
Don[crying]
“To have more than more than you’ve got, become more than you are”
Hi Flip,
I here it’s been going Off over there and thats great, woulda loved to been amosgst it. The word is there is a little more sillyless left in the market, then it goes flat. So if the land is’nt a buy and hold for you sell it and make a quik profit.Cheers,
The Barterman[blink]
“To have more than more than you’ve got, become more than you are”
Yes not a bad idea Terry,
My agent is going to advertise this week, i will write a hook for her to put in the ad, like “low deposit easy finance included”
[strum]
Thank you
Cheers,Don
“To have more than more than you’ve got, become more than you are”
Hi Terry,
Whats it worth?
Good question. I bought the property for $465 with 20% bartercard component. So if I have to settle on the property I will have a cash loan of $372 + stamps. I think if I had to sell the property quickly it would sell $420 – $450.So I feel my options are:
1.) Sell it cheap
2.) Wrap, but it would have to be creative to make the loan repayments affordable to the buyer. (that is where im pretty stuck)
3.) second mortgage carry back
4.) lease option
5.) cryI’m attempting to put one the above options in place (to avoid option 5.) Any feedback would be most appreciative Terry.
Kind Regards,
Don
“To have more than more than you’ve got, become more than you are”
Hi there,
Sunshine coast is very popular, (so it will rent out) but no, you should not buy the property is a quick answer.Cheers,
Don [strum]
“To have more than more than you’ve got, become more than you are”
Hi There,
You should get some good feedback here.But here is one i am doing at present. Selling on of my IP houses in the tweed area and providing the buyer with 10% deposit as equity i’m leaving in the property (second mortage carry back finance). The buyer still gets bank finance(and 1st home owners if they apply) and pay’s me 7% interest only for an agreed time (say 2-5 years) for the deposit money, then pays me back. In which time the property should have increased in value and everyone is happy (hopefully).
You could use the above strategy to get into a property simply by putting it to sellers, and understand 9 out of 10 will say no then someone will say yes. You will have to pay the asking price, but hey you will be a home owner and in the market. A lease option or vendor finance(wrap) will also get you in.
Thats my 10cents.I hope you get some good posts & good luck.
Cheers,
Don[strum]
“To have more than more than you’ve got, become more than you are”
hi Rayson,
It’s funny when i had no child (it took years to get one) i only had 1 IP & rented and we had good incomes, but struggled. Now i have a beautiful son a beautiful home 3 IPs(but selling 2) and make less than $50k but somehow survive??? I guess what i’m saying is your answers will show up, go be a dad if that is what you want and trust the money will take care of itself.
On the finance side, you may be able to wrap, or lease option some of your properties for positive cash flow. Also selling bits and pieces on ebay (a pain) but is a good option for stay at home mums & dads and can make you an extra $50-$200 p/w
When we becomes 3 you just find a way.
I
hope this helps,Good luck!
Cheers,
Don
Hi Cassen,
Personally i avoid seminars as they suck my time and i find it very hard to retain information in written form (as in notes) i am in two home study courses (steves is one) and have listened to a lot of stuff on CD’s. I have to say anything that you get from steve mcknight is value plus, good information at a great price. I see you can get a masterclass pack now, i would be starting with that for sure.
Good luck in your journey.
Cheers,
Don
Hi Richard,
Thank you for your reply. I’m on the gold coast & have a unit being built and a friend very keen to get a hold of it. (for negative gearing)[lmao]My biggest question is how doe’s it work tax wise as far as depreciation go’s for him in a wrap, compared to a normal sale.
Hope this makes sense.
Cheers
Don
Hi There,
If i was living in it, i would go the house over the townhouse anyday. Saying that i am about to start buying renovating & selling older townhouses on the gold coast as i see the as a good alternative for first home buyers.Hope this helps.
Good Luck
Cheers,
Don
