Bear, why don’t you ask the tenant to chase down the Real Estate Institute of Tas standard lease. Then you could sign up the lease with them yourself. Either give them a discounted rent, or pocket the 10% yourself like Simon said.

Cheers
Mel

Originally posted by kay henry:
Even the two-tier marketed places of the 90’s have now made a profit from their original ripoff prices.

Yes, and isn’t it great.[:o)] The place I bought in 1994, is now finally worth a little more than what we paid for it![] Although doing my tax return for the last year – we ‘still’ lost money.[!]

Cheers
Mel

yack, I reckon you might be amazed at the number of tourists that are flocking to NZ to see where the films were made. I think these people are like the ‘holiday makers’ that go to the Gold Coast and come back having bought a house.

Cheers
Mel

As the deal was unconditional, it doesn’t matter what they prove. They can show you ten reject letters from a bank, but it won’t matter. Unconditional means ‘without conditions’. Subject to them obtaining finance is a ‘condition’. They owe you the full 10%. Don’t let them out of it.

Cheers
Mel

I’ve been Melbear ever since a guy at work brought in a ‘Care Bears’ cartoon. His name is Kerry, so he became Karebear, and I became Melbear, and another girl became Flairbear etc. It’s just sort of stuck! I like it.

Cheers
Mel

Originally posted by **PropertyGuRu**:
muppet picture is up there. Thanks muppet!

Muppet you cheater! [}] I know that’s the ‘real’ muppet, but come on[]

Cheers
Mel

Hmmmm, those other two (other than Copter) are……… interesting.

Cheers
Mel

Just because you have read Steve’s book, and seen the way he invests, doesn’t mean that you have to automatically copy it.

If you can rent it for $180, and your repayments are $153, I would think that it might come very close to paying for itself (inc all other costs). If this is the case, what is the problem?

Are you moving into a rental, or…[Read more]

I’m working on it. I think I have to be in Sydney next Wednesday evening for a meeting that usually finishes by about 8 (ish). That will be in Marrickville though.

I’ll have to wait for you guys to organate another session (before you bugger off O/S) and see if I can make it up – AND not get lost! []

Cheers
Mel

Con: As no income being produced, you cannot claim any interest as a deduction on land.

If, however, you can build something quickly and rent it, it could be a goer.

Cheers
Mel

Good on you Paul! thanks for the feedback on how you went too.

Cheers
Mel

Ask to see the exchanged contracts of all his relos and friends who are buying these units. You didn’t mention that he is buying? Ask him why not?

Cheers
Mel

I wouldn’t want the agent to divulge my reasons for selling. To avoid this, if I was desperate to sell, or whatever, I certainly wouldn’t tell the agent that.

Reading Jenman’s first book, about the 4 questions to ask an agent (to see if the agent is ethical or not) was a real eye opener. Another of the questions you could ask (that the agent…[Read more]

Mart, save like mad, and wait for the investors who can’t get tenants to either sell up, or be willing to rent for a ridiculously low price just to have someone pay for at least some of the mortgage for them.

If you can get a good rent deal, you could possibly then look at investing elsewhere, and building some equity that way so that you could…[Read more]

Thanks Simon – something to think about!! []

Cheers
Mel

Hi Under Wraps

Do a search for Ed Burton. Somebody recently did a fairly thorough evaluation of one of his seminars.

As for Henry Kaye, I’ve heard him a few times, and yes, some of them I paid for. What I got out of it education wise has stood me in good stead for my real estate investing. As for any further ‘sales’, I stayed away from that -…[Read more]

John, if this type of structure is allowed in the future, then many lenders will offer it. Just cos these guys urge you to ‘get in now’ to avoid delays, don’t let that cloud your judgement. Also, I think some of their fees are a bit high, but a mortgage broker would be best to help you with that.

Cheers
Mel

Bowser, when you talk about ‘buying’ strategies, are you wanting to buy under a wrap (were it possible in SA) or are you wanting to buy a place and sell it using a wrap?

The other option that is similar to a wrap in many ways (but different in some fundamentals) is to use a Lease Option agreement. For more info, have a look at the strategies…[Read more]

I believe that the person who is suing, will have to sue the trustee of the trust. I think (and I’m not 100% so you must get your own advice) that if this happens, the trustee can be sacked and a new one appointed. The person suing continues to sue the (now former) trustee.

I suggest you invest in some knowledge from a good accountant, or find…[Read more]

Yep SIS, it’s still being argued. I reckon even if the taxpayer wins the argument, there will be legislation introduced pretty quickly that disallows the whole concept.

Cheers
Mel