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    April 28, 2003 - 7:11 am

    bump

    Profile photo of Kirby319Kirby319
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    April 27, 2003 - 6:49 am

    Umm, I was just about to post what Michael said.

    [:D]

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    April 21, 2003 - 5:00 am

    Congratulations! [:)]

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    April 17, 2003 - 6:44 am

    Check a couple of things:

    1. Body corporate and management fees.
    2. That the price quoted is correct.
    3. If you make an offer make it subject to finance (to ensure a valuation).

    Are these motel rooms? Even if not, they are probably short term let to tourists. Maybe there will be periods where they are not tennanted.

    Profile photo of Kirby319Kirby319
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    April 9, 2003 - 12:28 pm

    quote:

    Susie

    From my experience, portfolio loans are/were not the way to go. The Bank cross-collateralised the mortgages over the properties securing the portfolio loan. I unwound them all so that each IP has a stand alone mortgage and there is no cross collateralisation over the properties.
    Majority of Mortgages today are “all monies Mortgages” anyway, so if you have multiple properties mortgaged with the same lender the all monies clause gives the Bank the right to collect all monies owing to it if you default under one Mortgage.
    Hope this is helpful

    Cheers
    Nessie


    Nessie, havn’t you just argued against your own point? Or, are you saying that you should source a loan from a different lender each time?

    Profile photo of Kirby319Kirby319
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    April 7, 2003 - 11:22 pm

    “The Secret to Real Estate Investment? Be POSITIVE”

    or

    “Beat Negativity With a Stick!” [;)]

    Profile photo of Kirby319Kirby319
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    April 7, 2003 - 11:18 pm

    “The Secrets of Real Estate Success”

    Profile photo of Kirby319Kirby319
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    April 7, 2003 - 11:16 pm

    “The Positive Way to Real Estate Riches”

    Or, you could use the word “Success” instead of “Riches.”

    Profile photo of Kirby319Kirby319
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    April 4, 2003 - 12:26 am

    Mike,

    In such a purchase who is responsible for payment of ongoing expenses such as rates, insurance, repairs etc. I assume that the operator is. Is that right?

    Profile photo of Kirby319Kirby319
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    April 3, 2003 - 12:57 pm

    lol [:D]

    Profile photo of Kirby319Kirby319
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    April 3, 2003 - 12:54 pm

    Of the alleged 60,000 “graduates”(read “customers”)I would suggest that only a minimal percentage are multiple investors.

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    April 3, 2003 - 12:50 pm

    quote:

    Absolutely inspirational[:)][:D]
    Sometimes when you read a book you can tell its going to be a best seller and this one is.
    I can see it now already No.1 on Amazon.com.
    Keep up the great work


    Have you had the opportunity to read the book?

    Profile photo of Kirby319Kirby319
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    April 3, 2003 - 12:46 pm

    lol

    All the brokers are jumping! [:)]

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    April 3, 2003 - 12:22 am

    I think it is a very good intro. It makes me want to read it.

    Well done. [:)]

    Profile photo of Kirby319Kirby319
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    April 3, 2003 - 12:14 am

    I recently had a loan approved for $150,000 and the broker’s commission was revealed on the loan documents as approx $1,200.

    I saw the program last night too. That company was offering approximately $500 back on a $150,000 loan. Therefore, the bbroker was still earning approx $700 plus the trailing commission for the life of the loan.

    This company aint doing it from the goodness of their hearts. It’s a marketing ploy and a smart one.

    It just goes to show you how easy it is for mortgage bokers to make money. We should all quit our jobs right now and join them. [;)]

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    April 1, 2003 - 12:56 pm

    Alright, I’ve done alot of research on lease options during the day.

    It seems this mob source the deals, obviously for a fee. I will enquire as to how they charge.

    It seems like a good way to get into lease options if you do not have the time to source properties and buyers/renters yourself, depending upon the fee.

    Anyone out there got any views?

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    April 1, 2003 - 12:52 pm

    Ringo, there is a DEFINATE over supply of units in Melbournes CBD.

    I would stay away if I were you unless you are absolutely sure your unit is something special that stands out from the crowd.

    Profile photo of Kirby319Kirby319
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    April 1, 2003 - 12:48 pm

    Wow. That sounds like an ad! [:D]

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    April 1, 2003 - 1:05 am

    Looks interesting in view of the gaurenteed returns.

    Anyone have any thoughts on this system?

    I think an example of the figures for a typical purchase would be beneficial.

    My immediate queries/questions are:

    1. How do katalist get paid? What % of the rent/lease to they keep?

    2. What happens if capital growth is not as high as agreed? Is that just “stiff” for the tennant/buyer? (I guess this works both ways).

    3. How easy/difficult is it to get finance to this type of deal?

    What do you guys think?

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    March 18, 2003 - 12:18 am

    You are absolutely right! [:)]

    I got it a bit mixed up yesterday.[xx(]

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