I am also interested in the whole overseas thing, at least so I know what my options are. My business partner convinced me to hold off on the investing just for a few months while we’re building our business, as I am the programmer creating the system that is our business model, and I need to focus. (his words). Our business is going to fund both…[Read more]

ah, cool, thanks for clearing that up!

email: g e n e r a l g h e r k i n @ y a h o o . c o m
phone: 0405 411 098

good points. I don’t mind if the tenant walks away because it means I’ve collected above-market rent for the period, which suits me just fine. What do you mean by “it is also easier to withdraw any increase in equity”?

email: g e n e r a l g h e r k i n @ y a h o o . c o m
phone: 0405 411 098

ouch.. i think i heard about that 99 year lease thing… how does it work? are there any easy loopholes around it?

email: g e n e r a l g h e r k i n @ y a h o o . c o m
phone: 0405 411 098

Oh, I forgot to mention, I’m 24 years old… hoping to get my first property shortly!

email: g e n e r a l g h e r k i n @ y a h o o . c o m
phone: 0405 411 098

Hi Bella, I’m fairly new here too (less than a month) and I’ve been using my time so far to research and learn about how the property investment game is played. I haven’t bought my first property yet (waiting for a couple of small hitches to be resolved first) but I have learned a lot so far. First of all, you’ll find that pretty much everyone who…[Read more]

Sooshie, thanks for the advice. I actually do have 1 or 2 people I can think of who might be able to help me out if worst comes to worst.

email: g e n e r a l g h e r k i n @ y a h o o . c o m
phone: 0405 411 098

Oh, I forgot to ask. Since property management costs are based on the rent collected, if I set up a lease option deal where the rent is, say, $100 above market rent because it’s being credited to the final strike price, so for example, if normal rent is $120 and I’m charging $220pw with $100pw credited to the purchase, is the 6-8% property…[Read more]

Ah, right, thanks. That certainly makes sense, considering the cash on cash. I also am after immediate cashflow, rather than very long term money that may as well be a dream for how real it seems.

email: g e n e r a l g h e r k i n @ y a h o o . c o m
phone: 0405 411 098

yep that does, thanks

email: g e n e r a l g h e r k i n @ y a h o o . c o m
phone: 0405 411 098

ah, cool. thanks! so, when you say allowing for vacancies, I assume you are mainly referring to the time between when I make my first mortgage payment and when the tenant comes on board?

Edited by – generalgherkin@yahoo.com on 10/01/2003 3:59:58 PM

Hi Steve, thanks for taking a look. I think one big thing for me is it showed the difference between the normal way people would do it and lose money, and a lesser-known way of doing it (i.e. lease option) and make money.

Question, what is B&H? Also, with rental management, are you simply talking about maintenance and stuff? How would I work out…[Read more]

ah, thanks. It’s always confusing when you see a post using unexplained jargon and you have no idea what they’re talking about.

email: g e n e r a l g h e r k i n @ y a h o o . c o m
phone: 0405 411 098

The context was from this post:
http://mastermindforum.com/phorum/read.php3?f=2&i=24273&t=24273

quote from the message: “I have a couple that won a HUD bid, but can not qualify for a loan. The deal is that we’ll do a double closing, I’ll get the title, and then “sell” to them on a lease/option.”

email: g e n e r a l g h e r k i n @ y a h o o .…[Read more]

AD, I’d love to have a chat whenever is good for you. My number is as per my signature, or I can call you if you prefer. I only have internet at work at the moment, unfortunately, and it’s heavily firewalled, so I can’t chat online yet. Not until mid-february once I move house and can get my broadband connection on.

email: g e n e r a l g h e r…[Read more]

I have also lately been making sure I say not, “why can’t i?”, but “how can i?”. As a result, I’ve now gotten in contact with a mortgage broker (David and Hilary O’brien) and the wheels are now turning to try and see what I can qualify for. I’m also learning about wraps and how the contracts work and stuff like that, so hopefully it’s full steam…[Read more]

ok, so how am getting a return on my investment if I’m in the negative as far as my cashflow is concerned?

email: g e n e r a l g h e r k i n @ y a h o o . c o m
phone: 0405 411 098

$495 for the NSW contract.. ouch! But hey, it’s an investment in my future, I suppose, especialliy since the alternative, paying 1000’s in lawyer fees, is a lot more expensive They didn’t have a contract for the ACT yet… which is where I live so I guess I should focus my initial efforts in the Queanbeyan area, which is close enough to virtually…[Read more]

Thanks Dan. Actually, although I have little understanding of the difference between a P&I loan and an interest-only loan, I contacted a mortgage broker today to see what it will take to help me make the first step into getting my first investment property, so I guess I’m going to learn all about loans very shortly!

Question: What is…[Read more]

Ok, My three main goals for 2003 (to be revised once I get a better understanding of the property game and what the limitations are), are:

* Eliminate my credit card, computer and car loans
* Acquire my first 5 (or more) investment properties, and all must have positive cashflow from day 1
* Finish writing my website content management system…[Read more]