If nothing left, he gets nothing?
I understand that the first mortgagee is only interested in recover their loss.
What if the father in law had registered as a secound mortgagee or had put a caveat on it?
Does it protect his investment money?

It was my first time to buy IP, so I don’t know how it is like normally.
If the conveyancing job costs only $300, I was really ripped off. (and they are asking more?!)
This firm had all the records of incoming and outgoing calls with charges.
I was getting so many calls from the firm a day.
My parents said, “we never got so many calls from…[Read more]

Terryw.
The reason why I got the estimate repair cost from the solicitor was that the solicitor arranged the building inspection and the inspector sent the result to him (or N).
The inspeciton was done only on the due date for the inspection (subject to inspections) and I heard the result only at 3pm.
I was panicked.I had to make a decision…[Read more]

Thank you everyone.
If the solicitor contacted me, I would say “let me talk to Department of Fair Trading.” and see how it goes.
If they didn’t, it means I don’t have to pay the extra, so I will just let it go.
Thank you.

Thank you for the reply.
Why did I use the inexperienced girl?
When I had to terminate the first IP contract because of the termite problems, they sent me a report of money transactions.
I saw everytime I spoke with this solicitor on a phone for a few minutes, they charged me more than a hundred dollars because of his high rate $195/h.
So I was…[Read more]

I am a Japanese, but now live in Sydney with a permanent visa.
Do you think it is possible for me to get loan in Japan to buy IPs here in Australia?
Or I have to live & work in Japan to get loan?
Or do you think it is possible that I ask my sister to get loan and joint venture to buy IPs here?
I didn’t know that the interest rate was so low to…[Read more]

I live in Epping, NSW.

I’ve got a good saving habit from my mum.
Since young (probably around 8 or 9), I put all my money into term deposit accounts and enjoyed the number added up.( I don’t know whether children are allowed to open term deposits here, but it was allowed in my country, Japan.)
Now I have 2 boys 8 & 4, and since I commited myself to investing in…[Read more]

Thank you for your reply.
I have bought an IP recently, and since it is negative gearing, I am sort of stuck at the moment.
And I am reading here and there to get more knowledge to move forward, and I came across this idea of “sandwitch lease” which I don’t need to put any money down from my pocket.
The solicitor I used to purchase the IP was a…[Read more]

Why is it disgraceful?

I did a bit fo research to buy an IP in Rockhampton about 7,8 months ago.
My budget was about $100,000, and I still saw several properties under $100,000 at that time.
And then one magazine (was it Your Mortgage?) put Rockhampton as a hottest area, and after that property prices went up a lot.
One investor from Rockhampton said to my husband,…[Read more]

I have been to a seminar which collected very good speakers, such as Micheal Yardley, Ed Chan, Bill Zheng, etc.
They talked about finance, developping, structures, depreciation, all sort of stuffs.
Even those experts in one area were learning from other experts in another area and it was just great.
I found a seminar which will be held at Noosa in…[Read more]

When I read Mr. Rick Otton’s “rent 2 own” pack and “the wrap pack”, I was very excited and loved the idea of helping tenants to own a house while I could make some profit out of it in shorter period than just holding it to wait for the capital growth.
I have read some articles which were against “wrapping”, but some points they mentioned were…[Read more]

I am very interested in “Lease Option” and I actually tried to close the deal in Logan area, QLD.
I put an ad and received about 20 calls, but nobody had any money aside for an option fee.
Anyway, my question is that how to make tenants to pay for the repairs while they are just renting the place with an option to buy later?
I have read Mr. Rick…[Read more]

Eagleby… I read somewhere in a newspaper saying that the area has very high criminal records and cops can’t handle it.
I recently bought a house in Logan Central, and agents said that they don’t have enough rental properties and the vacancy rate is less 1-2%.
But people who are renting the area can only afford the rent and nothingelse.
I tried…[Read more]

I read Anita Bell’s book and in there she wrote something like : You can find someone who wants to buy a house using FHOG, and swap the house for 6 months with you to make use of it.

Yes. Ed Chen is very good. Full of knowledge about property investing and structure, of course.
He also speaks at property seminars.