They’ve had this in Canada as long as I can remember. You can borrow up to 20K from your RRSP (like the super) and have to pay it back in installments over a set number of years. Don’t now all the details, but it seems to have worked well. I have quite a few friends that have used it to purchase a house.

One difference – in Canada the RRSP is…[Read more]

The email address is the first post is wrong – it’s likely:

[email protected]

I’m in for a Brisbane get together!

Sheryl
[email protected]

What contract did you mean to sign, vs the normal contract you signed?

It might be best to talk to your solicitor to see what options you have. Did you have the discounted agreement in writing anywhere? If you friend is reasonable and accepts the error, he might happily let you rescind and redo the contract. However if there is confusion you…[Read more]

Here’s the link to this product of Steve’s called the “BuyerBeware – Five proven templates delivering critical information to protect you from buying a property investing lemon!”.

https://www.propertyinvesting.com/resources/1

Cheers!
Sheryl

This happened to us recently – our add did not appear the day it was booked. We called the paper and they are running it twice for us (once free) to make up for it.

Call the company, let them know that you didn’t get what you paid for. They should be able to offer you something – partial rebate, discount on next purchase etc.

If you’re…[Read more]

The best search engine ever is the free one you can download at http://www.copernic.com

It searches almost all other search engines simutaneously, clears out duplicates and orders the results in terms of how good they are! Try it!

Cheers!
Sheryl

Piers and I have about 12 trays of wheatgrass growing in the backyard!! We juice it almost everyday! YUM!!

It’s best diluted in water or mixed with other juices to hide the flavour! Yes it does taste like grass!

One delicious drink – wheatgrass, fresh juiced pinapple, and the water from one coconut (also fresh). I call it my wheatgrass…[Read more]

LMI = Lenders Morgage Insurance

This is insurance the banks take out to pay off their lose should you default on your mortgage payments. The LMI pays the extra if the bank sells your house and they are still out of pocket. You don’t see money from LMI ever.

If your LVR is over 80% or you are doing a low/no doc you are often asked to pay for the…[Read more]

You can get a copy of the auciton contract prior to the auction. It’s unconditional – no cooking off period, no finance clause and no pest clause. Basically if you’re thinking of bidding, you need to get finance arranged and inspections done prior to bidding. I’ve always through that a bit of a scam – EVERYONE independantly paying for their own…[Read more]

I did a search using the engine at http://www.copernic.com and found the following options for you:

http://www.interestsavers.com.au/ $99AUD
http://www.statementcheckers.com/hdeluxe.htm $99AUD

Sounds like using one might save you more than $99!

Cheers!
Sheryl
[email protected]

PS I have no association with the companies above

Here’s one for you – http://www.gatherumgoss.com

He’s very knowledgeable on property and wrap transactions.

Cheers!
Sheryl

Hey Bear1964!

Wrapping is not illegal in SA. ISC have a limitation of allowing only 3 installments I think, which makes them unusable for wraps, however lease options are perfectly legal and used to do wraps in SA.

I know there are some vocal critics of wraps in SA politics, however the sweeping opinions expressed on this so called ‘illegal…[Read more]

Here’s another company that does online company AND trust setup. It’s a new system and linked directly to ASIC. You fill out the forms online, print and sign your paperwork, then send the forms directly to ASIC. About 10 minutes later you have your company ACN and are ready to go! Cost is only $137.50 per company and per trust plus the $800 ASIC…[Read more]

Something to kep in mind – most properties NEVER HIT THE WEB SITES! And alot of what’s on the web sites is months old (left there to bring in business).

We even met one agent that only advertized his expensive ones, all the <115K properties were by word of mouth.

Talk to agents and keep looking. They are there!
Sheryl

Piers and I just bought one.

Purchase Price: 70K
Rental: $165

Beats the 11 second rules by quite a bit!

The part of your post that is factually inaccurate is the assumption that these houses are renting for more than they are worth. The example I gave you there is a standard rent! Nothing special for that area. Keep in mind that the yield on…[Read more]

I’ve never understood why they don’t have a template for amortization included. Actually I just searched – they do! Go to http://office.microsoft.com/templates/category.aspx?categoryID=CT062100761033&CTT=1&Origin=EC790000701033&QueryID=WW74_J5FD – they have multiple downloadable templates. They even have one for extra payments, which I know some…[Read more]

Many people have the credit and the money, but not the knowledge, confidence or time to go out and do it themselves. Most people are THRILLED with a 10% ROI. The idea of a 25%+ investment is very exciting!!

It’s all about selling the service you are offering, and putting the structure in place to protect yourself (eg having them sign the JV…[Read more]

Buying with no cash or credit:
All you do is find an investor who likes the idea of the returns you can get. For Wraps you can often offer the investor 25% + on their money, which is very attractive. You have a Joint Venture Agreement drawn up between the two of you. The usual cashflow split is 50/50. Some investors have done JV’s for Buy & Holds…[Read more]

Personally I believe your moving in the right direction; it’s great to brainstorm creative ways to make extra money, however I think this is one better left alone.

My opinion: you need to talk to the bank you work for; the opinions of people here don’t count for anything when you’re looking at what’s accepted, legal and ethical in this specific…[Read more]

Out your offer in NOW before you lose it, and include a 21 day finance period. With the leverage of a good deal behind you you WILL find a way. Why risk losing it by searching for all the answers before getting it under contract. Piers and I bought a propery earlier this week, and beat out two other investors (one who was getting finance arranged…[Read more]