Forum Replies Created
Hi Andrea,
I’m not sure whether you’ve sold those packs of yours. I don’t know the reason for you to wanting to sell the packs but if it’s because you don’t know where to start I’m happy to show you by us doing a training JV as I’m one of Rick Otton’s advanced students and I’ve done 8 of these. That way you can learn using the information in Rick’s pack but with someone helping you out initially.But on the other hand if you are not interested in doing property transactions using Rick’s strategies that is fine too.
Anyhow email me if you are interested.
Kaz[exhappy]
HI Wealth4 life
How do you define a good investment? The opportunity of being able to buy a property without a bank loan may be good for one person – in the end it all depends on one’s situation. If I could invest with using as little of my cash as possible I deem that a great opportunity as the cash on cash return would be infinite.
A person who would enter into this transaction would need to earn a fairly decent income to qualify if they were going to buy it on vendor terms as I wouldn’t be encouraging someone who is struggling to make ends meet go into this JV with me- just because it is vendor finance does not mean it’s for a low income earner. There are people out there who may earn a great income but may be new to the country or not have a sufficient deposit or may not have a savings history who may find this a great opportunity. They either lease option the apartment or buy on vendor terms or maybe an investor may just rent this out straight. There are opportunities [exhappy]to do something with this apartment due to the financing arrangements that go along with the property.
Kaz
Hi Foundation,
The gross yield may not be that high but you’re going into the transaction with only $15000 deposit which is very low for an apartment (only 2.6% of purchase price). Plus the benefit of not having a bank liability shown on your books for the next 5 years which could assist on future serviceabilty if you intend to keep expanding your portfolio.
The apartment is classified as a mini penthouse with split levels (2 storeys) so it’s not really a standard 2 BR apartment. It also has city and bay views and is on the 22nd floor with a balcony included. The $550 rental was the actual amount paid by the last tenant of this apartment.
Kaz
