Forum Replies Created
Hi Paul,
Thanks for the info. I'm going to check out those sites right now.
Many thanks
NicolePaulDobson wrote:Hi NicoleWith your mention of being a student of Robert G Allen and doing some Lease/Options, the following information will help you get up to speed with real estate vendor finance in OZ.
The three most popular Vendor Finance strategies are:
1. Rent To Own. This is documented with a Residential Lease and an Option (you are obviously already familiar with these)
2. Deposit Finance. This is often documented with a second mortgage. This is where the Buyer gets a traditional loan for the property and the Vendor finances the remainder. This strategy has become quite difficult to use due to traditional lenders tightening their rules since the GFC and the new National Credit Code.
3. Instalment Contract. Sometimes called Vendor Finance and at other times, a Wrap. See the links below to see how these operate.We've been operating in the Vendor Finance industry since 2003 and it's worked for us. If you'd like to learn more about vendor finance in Australia, I suggest you do a search for Vendor Finance here and in the Somersoft forum. You'll get an immense amount of reading material in both these forums.
A few web resources that may help in your search for information about vendor finance are:
https://www.propertyinvesting.com/strategies/wraps
https://www.propertyinvesting.com/strategies/lease-options
http://www.jvpropertypartners.com.au/index.php?option=com_content&view=article&id=50&Itemid=75
http://www.vendorfinancelawyer.com.au/
http://www.vendorfinance.asn.au/ The Vendor Finance Association of AustraliaCheers, Paul
Hi Robbie,
I'm actually going to be based in Brisbane. It's a shame that we wouldn't be able to meet but maybe I can email you if I have some questions or need advice?
All the best
NicoleRobbieP wrote:Hi Nicole,Sounds like you gained some good experience in the UK.
I built a property portfolio of 30 properties in South Africa in the past 6-7 years and I'm still doing so, no reason to stop just because I'm in Australia. Most of the property I actually sourced myself, but others i also used estate agents, whom i gave my buying criteria.
I have just arrived in Sydney and plan to do the same.
Where abouts in Aus are you based?
Regards,
RobbieHi Robbie,
Thank you for your reply.
The deals which I successfully did actually just involved me getting control of the properties without owning them, I then would let the rooms individually which they refer to as an HMO (a House of Multiple Occupation) in the UK.
Other deals that I attempted to do, but couldn't mainly because I've run out of time here in the UK, were profit sharing deals. The idea was to work with the owner on improving the final sale price of the property and to then split the profits. I did also source a couple of properties for others which had mixed success.
I really wanted to do some flips (to generate some capital) and lease options but wasn't able to unfortunately. I'd also like to get some BTL in Oz to start building a portfolio.
What's your situation? Have you been investing for long?
Thanks again for your reply and I hope to hear from you soon!
NicoleRobbieP wrote:Hi Nicole,What sort of deals were you doing in the UK? Were you sourcing deals and passing onto investors or building your own portfolio (from the deals your sourced) while over there?
Look forward to hearing from you.
Regards,
Robbie
