Hi Xenia
Lease options are normally done with an interest only loan. If you are worried about falling house prices then use a P&I loan. This way at least you are paying some principle. This would bump up the repayments to the buyer but also gives them more equity build.
You can also off set any drop by getting a bigger option payment at the…[Read more]

Hi Steve
Good to have met you at the Melbourne seminar, it was great.
I would like something about buying outside OZ and NZ.
Maybe the for and against aspects of such a move.

Kerwyn.

Hi Jaradnkaren
To do the second scenario you have to do a number of things.
First approach a lender and tell them what you have in mind and see if they will give you pre-approval on what you are going to do.
Secondly ask the lender what valuer they use then have a chat with them to see if you do Y to the property it will be worth X.
Now the…[Read more]

Hi Westan
I am actually getting calls from agents 3 this week. Properties are in short demand not much under $100000.
The agents don’t seem to realise that once the +CF is gone so will the Aussie investors. I don’t think they believed me when I told them.
Rents have dropped a bit also, to many rental properties on the market.
This may change when…[Read more]

Hi All
I tend to agree with Westan as far as the word retirement goes. I remember reading an article on retirement a few years back that reported than a big majority of people who retired to the so called easy life lasted around 2 to 5 years before popping of this mortal coil.
Now; that is not something I want to do for awhile so I have exactly 0%…[Read more]

Hi Terry
Thanks for the info. I am looking at doing some wraps in QLD soon and heading that way in July to have a look. Will be in touch if it works out.
Kerwyn

Hi Jaradnkaren
A couple of things you can consider? Is there libel to be good capital growth in the property over the next few years? If there is then you can look for a money partner to come in with you.
Secondly is there room for adding value to the property in the short term? If there is why not offer a longer settlement period and value add to…[Read more]

Hi Terryb
If you are in WA I would strongly suggest that you contact Aspire in Perth phone 1300 132 941 or call into the office at Level 1, 38 Rowland Street, Subiaco, WA 6008.

I am in the Eastern States but I belong to Aspire. If you want to meet other like minded people who can help you, then give them a call.
Kerwyn

Hi Westan
The story was relayed to me by the PM as it happened to her (so she says). I know that she was really worried that she would get in trouble some how, but I don’t know exactly why. I think maybe the owner asked her for names of insurance companies and she was a bit vague in her replies.
I don’t think it is appropriate for me to ment…[Read more]

Hi all
A little more information that has come to light.
Seemingly the house was in a bad part of town and only a couple of doors away from a gang house: you know the deal drugs, crime etc.
Obviously the kind of tenant this property would attract would be of a lower standard and probably the only kind of people you would get. Whether the owner…[Read more]

Hi Don and Liz
Yep. a lot of presenters do offer you money back. I have been to one seminar where you could get your money back Sunday lunch time if you thought it was a scam. That meant you had a day and a half free if you wanted, not bad from someone who just wanted to rip you off.

Kerwyn

Hi Westinvest
I think you should always get a valuation regardless: this is a part of your due diligence.
In the event of sounding monotonous you must check as much as possible out about any property you want to buy. If you don’t, you leave yourself open to buying a lemon, I know I have bought some lemons: reality is a hard task master and expe…[Read more]

Hi Mini
Spot on again. One day people may listen and save themselves a lot of problems.

Kerwyn

Hi colbert1982
I have never attended any of Steve’s seminars, although I am about to remedy that in a couple of weeks in Melbourne.
I can tell you having gone to other seminars on property investment that it is not a waste of time. You may think it is a lot of money at first and I certainly did the first time I went, but what you learn is inva…[Read more]

Hi All
Couldn’t agree with you more Mini, great reply.
Having done a bit of bird dogging last trip myself I know it is not easy. In fact I ended up getting better deals for other people than I did myself.
The responsibility of buying for others is a lot harder on the nerves than people can imagine if they have never bird dogged before. It takes a…[Read more]

Now Now Richard no need to get bent out of shape.
Kerwyn

Hi All

Yet again you fail to understand that a fall in house prices is a positive thing for many Australians. It allows struggling FHBs into the market, and makes it much more affordable for existing home owners to trade up.

dmichie you are forgetting one thing? If the economy goes bad these same poor FHBs are going to be on the wrong end of the…[Read more]

Hi All
Correct me if I am wrong?
Doesn’t buying a property from a mortgage lender require a property valuation? If you add $10000 or $20000 to a property and the valuation comes in at that price, then you can’t be breaking any laws.
How does anyone know that the $108000 is the true market value for that house, it could be undervalued by $10000?
If…[Read more]

Hi Sean
Try Aspire on 1300 132 941 they will know of anyone doing L/O in Perth.
Kerwyn

Thanks for that Wilandel.
I hope people pay attention also as they will get seriously burnt in the future if they don’t.
Plus if everyone started to do their due diligence the prices of property would not be skyrocketing and there would still be deals around for everyone. As you said on one of your other posts you could not find any deals around…[Read more]