Guys, my understanding of what Steve and Dave did was to buy a place for $50K, with $10K deposit, and then wrap it for say $60K, with the $7K FHOG, plus some of the purchaser’s own money, maybe $3K.
This then gave them their $10K to go and buy another house with.
Cheers
Mel
Agreed. Also they have a large deposit from there accounting firm.
Warm Regards
ChanDollars
[Keep going, you’re on your way to Frolic Freedom!]
There is one way you can do is by nominee where you sign the contract on be half of joe blow. But you must make sure that person will buy the property. So I suggest to include a good clause in the contract.
Warm Regards
ChanDollars
[Keep going, you’re on your way to Frolic Freedom!]
go to realestate.com.au do a search from $0 to $200,000 and sort it by price. Look for area where agents advertise property price as well as rental per week.
Warm Regards
ChanDollars
[Keep going, you’re on your way to Frolic Freedom!]
Here what I have learned from Mortgage Hunter and did more research and found:
Q: I have owned an investment home previously. Can I still be eligible for the grant?
A person is not eligible if they or their spouse (including de facto spouse) has had a relevant interest in any residential property in Australia prior to 1 July 2000, whether they live in it or not.
However, a person may be eligible if they or their spouse (including de facto spouse) has only ever had a relevant interest in any residential property in Australia on or after 1 July 2000 and they have not resided in that property.
Warm Regards
ChanDollars
[Keep going, you’re on your way to Frolic Freedom!]
I’m also new to this industry of property investing. However, I just purchased the ‘Buyer Beware’ package from Steve McKnight. I am yet to complete it but it does have templates on offers so you can try getting a hold of this – it is very useful. That’s all I could help – sorry if its not much.
Kind regards,
George.
Buyer beware is one of the best I suggest you should buy it!
Warm Regards
ChanDollars
[Keep going, you’re on your way to Frolic Freedom!]
Funny the way these dudes tell you how crap it was the way you were socialised to think and then they tell you there is another way… to think just like them!
When I met a few of the lovely sydney lads, one of the things I enjoyed about it was that they were all so different from each other- I really like that in people. We don´t all wanna be Stepford wives, do we? Why lose your own uniqueness and sound like a copy of someone else?
kay henry
why care about losing your unigueness if you can make money by just copy of someone else ideas?
Warm Regards
ChanDollars
[Keep going, you’re on your way to Frolic Freedom!]
We were just about to buy our first ip in Ballarat as a negitive geared investment, when i bought steves book and read it in two days , just couldn’t put it down, Luckily before we signed, we realised that this is not the way to go.
But my question is that we have looked and looked and cannot find anywhere around ballarat that would come even close to a positive cash flow. Also talking to a friend in rentals he told me that there is an abundance of rentals at the moment. So does anyone have any suggestions. We were all hyped up to start our little venture and now feel that there is no point.
kylie
I guess if you can not find any +ve cash flow property in Ballarat then look at some where else. May be try different state.
Do a general search in such as realestate.com.au or domain.com.au for the state that you are interested in and the price range that you want!
Warm Regards
ChanDollars
[Keep going, you’re on your way to Frolic Freedom!]
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