p.s. This scenario is just ONE way to do a SLO.There are hundreds of variables: you may give the seller more or less (just 50c perhaps) longer/shorter terms, etcAnd your purchaser as well: different amounts for rent credit (if any at all), different length, and on and on.Basically you need to talk with the seller long enough to find out what will…[Read more]

Hi ScottAs Paul & Karen say, a Sandwich Lease/Option (or SLO) is what you are asking about.You ask "what about…?"Can you be more specific as to what you actually want to know?  There are plenty here who will be happy to answer your questions once we know what you want. This is a very powerful strategy to control many properties with minimal…[Read more]

There's also Group Title, (in QLD at least) which allows separate ownership without actual subdivision.  In our shire a lot of 20-acre blocks were converted to Group Title so they could be sold in 2-5acre parcels.In practice there is joint ownership of common land like roads, (and the parties have to maintain and insure that), then there are…[Read more]

I understand that "assuming" mortgages is possible in Australia, but not easy, as I have been told you need about 6 documents to do it.I'd love to find out how though!  It's apparently part of the GoDirect syllabus.

We also use lockboxes.  (Make sure you leave a pile of application forms on the kitchen bench for the purchaser to take home, fill in, and fax to you)I saw the lockboxes advertised on as Aussie creatively-focussed real estate site, but we bought ours from USA – http://www.padlocks4less.com/shurlok.  Tried on eBay but they would not post to AU.  Ev…[Read more]

Hi TonyWe too were using MS Excel to track Rent-to-Owns, and similarly found it a little cumbersome.  Especially when they paid odd amounts or were late with their payments.However, we recently altered the way we do our Rent-to-Owns, and now it's a breeze.  We still use Excel, but it takes less than ten minutes per customer per month to prepare t…[Read more]

Rick's course worked for me. Bought the home study course a few months ago – have now done a few Lease Options. They are a little easier than Wraps, and have some advantages. Less profit, but quicker profit (e.g. one year instead of 3-5) and the "Sandwich" L/O means you may be able to structure deals where you don't need much (if any) cash up…[Read more]

Rick's course worked for me. Bought the home study course a few months ago – have now done a few Lease Options. They are a little easier than Wraps, and have some advantages. Less profit, but quicker profit (e.g. one year instead of 3-5) and the "Sandwich" L/O means you may be able to structure deals where you don't need much (if any) cash up…[Read more]

Rick's course worked for me. Bought the home study course a few months ago – have now done a few Lease Options. They are a little easier than Wraps, and have some advantages. Less profit, but quicker profit (e.g. one year instead of 3-5) and the "Sandwich" L/O means you may be able to structure deals where you don't need much (if any) cash up…[Read more]

Edmonton?  Just-South-Of-Cairns-Edmonton?I may be able to assist if so.

Hmm.  Come to think of it, CBA have several times given me an unsecured overdraft when needed for a week or two between settlement and when they could get their paperwork act together.  But it has always been their idea.  No reason I couldn't suggest it to them I guess!Thanks for that Richard  – I will try it on Monday before I take the 11.…[Read more]

Hi Foundation and Qlds007,We actually have a number of entities (companies and a trust) and have been wrapping and Lease-Optioning and renovating since 2002.Naturally I am not putting a balance sheet out in public, but suffice to say at this point we have 15 properties on the books, and current LVR at CBA about 65%.  I can go back to CBA but I…[Read more]

10% p.a. , not per month.I already have offer at 11.5%p.a. plus costs, for 6-mo loan (min).I will accept that on Monday at 4:30pm unless someone wants to offer a slightly shorter term (e.g. 4 mo) or a lower rate (e.g. 10% p.a.) in the meantime.CheersMr Fair Go

Hi there DomWhat do you anticipate that you and your business partner will do?  Since you put this post in the "Creative Investing" forum at PropertyInvesting.com, we assume some sort of real estate deals?e.g. Wraps? Lease Options? Development?Did you have one or more of these in mind, or something else?Hmm.  I realise I have merely thrown six q…[Read more]

Hi GavHIn this era of rapidly-changing interest rates, you need your return t be tied to (at least) the Cash Rate Target to ensure your income  "rides" above the rate at which you are paying for your money.For further suggestions on HOW to do that with residential real estate, call me.  1300 76 22 25

Our solicitor tells us that with a Developers License in QLD you need to deposit the installments with the government until the final payment when you are selling a property you own without an agent being involved.That's why at his suggestion we now have three separate entities, that allow us to do six times three _new_ wraps per year.Another way…[Read more]

You are in for some fairly advanced calculations, but…I'd go through the TOTAL savings of paying down your home loan, over, say 3 years…then see how that amount stacks up against what else you can do with it.Personally, with 60k  I'd try to control about 6 houses that return $100/week each (clear) plus a lump sum of about $30k each within the…[Read more]

Chris.hemsworth7 wrote:
Hi guys I have been working in real estate for about 2 years now recently I have done quite a few no money down deals for my clients mainly new distressed properties 15% to 20% under valuation if you are serious email me and I can send you out some of the deals I get.

ChrisAs mentioned above, you unfortunately left no…[Read more]

Hi BoshyMaybe this helps…We have moved through the CBA system over the years.  First we started with 5 loans at once via the regular "retail" route.  Well, I guess it wasn't quite "regular" in that  a friend who is a mortgage broker introduced us to the bank manager and suggested he write up the 5 loans for us… which he did.We stayed with th…[Read more]

Also read "Australia's Money Secrets of the Wealthy" by John Burley.  There's a chapter on wrapping.(We also have Steve's kit, plus Rick's Lease Option pack… and have been wrapping since 2003, mainly using John Burley info suplemented by Steve's.  Only recently moving into L/Os.)Cheers