There are plenty of ways to borrow 100% without paying LMI. Buying under market is just one.

Cookster I have no money no job and have just bought 3 properties in 2 weeks Think outside the square. Answers will not just fall into your lap.

I actually thought the MAPs program was to
create net millionaires. Anyway still a good program.

I think the challenge should go a little more like this – Turn everyone into 100K per year passive investors in 12 months. The people selected would then use none of their own money. Boy would that be a challenge. Maybe make it a smaller group of…[Read more]

Australian Residents will Pay CGT. Hmmm What if we set up a company in new zealand that I an aussie resident am a director of??

Based on this case study does the property meet the 11 sec sol?? Are you refering to Steve’s book??

The question was asked did I have any equity??
Sorry no equity but I did have enough money for a deposit on a couple of houses which was not used to buy any of the 4 I have acquired to date.

Well I suppose you are wondering how did I buy 4 houses. The answer to that question is quite simple, other people.

I once heard a quote by a famous…[Read more]

Sorry richmond working full time is staying in my comfort zone. Burn your bridges then you can’t retreat. When I started investing I didn’t have a job & could not get finance from lenders. Somehow I have still managed to buy 4 properties in the last 2 months and will have 15-20 by the end of the year. Can it be done. yes it can:)

The banks now do not take depreciation & tax advantages into consideration when they look at service ablilty either. What happens if you loose your job?? Something to think about.

I don’t really think long settlements will be successful in my current market. I personally do wraps with JV’s. That means the only way I can negotiate is the price or get stamp duty get thrown in. If I pay full price there is not enough meat in it for my JV partner.

I personally don’t think in Steves example that it would be tough to market when rents are $250 and LO payment is $330. I have a friend and no many others that wrap houses that are worth 200K+. rentals in the area are about $220 PW. Wrap repayment is $360. People know that to own their own home the repayments will obviously be higher then their rent.

I still don’t think you guys understand what Polaris is trying to say. I have no doubt that on selling on a LO is profitable.

I think think this is what polaris is trying to say.

Example.

You find house worth 220K.

You then not buy the house but LO it paying the owner a premium 2-5K and pay him payments each week. Now how is the vendor…[Read more]

Polaris I think I know where you are coming from. Is this is what you are trying to ask?? Why would someone lease option a property to you when they are not getting anything out of it?? they get an option fee, no growth as you have an option over the property & the repayments you are making back to them would be less then or equal to there…[Read more]

When is this show??

What sought of success rate have you had using this approach Mathew?? What sought of discounts have you been able to achieve??

Sorry Steve my mistake.

Mathew you say you couldn’t be bothered wasting time writing out 40 offers. I ask you how long do you thing this will take. How long is it going to take you to inspect 5 houses. You still have no gurantee they are going to accept your offer if you inspect. I think faxing offers is a good way to seek out motivated…[Read more]

Steve in your wrap example you have a purchase price of 80% FMV. Do you consider this low ball.
What % discount to FMV do you consider low ball.

When you say you make low offers, what do you define as low?? 70%, 80%, 90% of FMV.
To me if you are using JV partners the only way to really get decent returns for your partners is to get a decent price. If you buy near market your mark up becomes to an extreme where it makes it hard for the wrappee to re-finance. If someone can tell me…[Read more]

Are you from geelong Sooshie. If you are we will have to catch up some time. My email address is logic1@bigpond.net.au

I never buy houses with pools. I suppose you do have to way up how cheap you are getting the house for.

I paid for a report from home price guide and found it next to useless. I wouldn’t even waste my money.