Werribee is close to RAAF Laverton isn’t it? I know Defence has been moving a lot of civilians down there recently, but I’m not sure if that’s settled down now or if there are more to come.

Cheers
Mel

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

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

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

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 will you be buying another house to live in? If you are moving into a rental, or indeed another place that will not be your PPOR, then you should be able to claim this as your PPOR for the next 6 years, and be CGT exempt if you were to sell it.

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

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

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 buy a place. Or rent from one of the abovementioned owners, and see if they would be willing to do a lease option with you. They might be desperate to sell and go for it.

Good luck

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 – lucky for me. But the education was good.

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 section on this website.

Cheers
Mel