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I just immigrated to Australia from Canada. The system surprised me! Piers (Quasimodo and also Australian) was Australian, not even living in Australia, and unemployeed (illegal for him to work in Canada). I applied for spousal immigration and had an answer within four weeks, and the final papaerwork in six weeks.
We put weeks of effort into our application, had a BOOK of emails we had sent over our relationship, christmas cards, and a story illustrated by photos to back it up.We even included our wedding invitation! The not working part was explained justly as Piers wanting to be with me to support me in the immigration process. We even went as far as giving them the date we wanted to leave by. They came through and even made a personal call to let me know it was approved and on it’s way in the mail!
Anyhow, I shared my story to give you hope! It is possible! And I can fully understand why you’d want to come back!! Australia is wonderful!!
Cheers!
Sheryl DuruzBrisbane QLD
[email protected]Just something to keep in mind – there are major issues with the real estate industry in Australia, and Jenman does have some very valid points. Remember also that it’s a marketing strategy on his behalf to gain trust and build business for his company. You may be able to accomplish what you want without asking your agent to sign the Jenman form (eg no open houses and no advertising $ or something). I have seen the form before, but don’t remember EVERYTHING it covers.
The agencies I have dealt with that are Jenman approved don’t always follow his guidelines: I’ve been passed keys to houses with only a $20 deposit (they are supposed to ask for ID and fully qualify you BEFORE letting you in), and have also heard of Jenman agents selling homes for masses less then they are actually worth. It all comes down to the integrity of the people you are dealing with, and the needs of the seller. If you’re educated, and communicate your needs to your agent clearly, then you’ll be fine!
That’s my opinion anyway!
Cheers!
Sheryl DuruzBrisbane QLD
[email protected]Here are some numbers to consider:
Purchase Price: $400K
Wrap Price: $480KAssume 20% deposit by investor (80K) and 20K deposit by buyer. On top of that between 12K – 18K payable by investor in transfer duty, and a second transfer duty of 15K – 25K payable by the person being vendor financed (if an Installment Sales contract is used – not needed if using other options).
Underlying loan: 7%
Margin: 2%
Interest rate for vendor finance: 9%Weekly payments: $861
Cashflow for investor on a 80% P&I loan would be about $289/week. Sounds like a lot until you consider how much cash is in the deal. ROI including closing costs would be about 24% on an P&I loan.
Cheers!
Sheryl & Piers
