I should add that while I admire Montrose's win or be dammned valour, it was that spirit that when misfortune ( and employee negligence) arose meant I lost everything and now have to start again.I should have listened more to the I Ching ( Chinese Book of Change) where some ancient sage wrote:"Thus, the Superior Man, taking thought of future…[Read more]

Hiya QuickChick,Please don't get me wrong, I don''t seek to avoid risk, on the contrary, the excitement of calculating risk vs return, and then seeking the strategies to mitigate or eliminate risk is what makes life exciting, whether in work, love, rest or play.Personally, I love Montrose's Toast as a testament to bold spirits going forth . . . I…[Read more]

Hi Angel,I appreciate your feedback on the scenario I proposed.Especially from someone with the "cojones" to take on a deal like yours, it underlines the soundness of my thinking.I have to admit though, having been burned financially in the past due to reliance on others ( hence my need for assistance to put a PPOR deal together to get started) I…[Read more]

Hi Paul & Karen,Could you please explain the higher price / blind option mechanism.X wants to buy a house but cant afford it. Y comes along and offers to buy the house, let X rent it, and pay extra above the rent to buy equity deposit until it can be refinanced through the banks.So X gets a lease, and an option ?at a higher price?blind option ?helpAndy

Hi Folks,The refindhouses.com.au site listed in xdrew's post is excellent. I had no idea thes ewere around so thanx very much for the info.Really, really, useful stuff.regardsAndy

OOOPS !My sincere apologies MATT, I was so focused on typing I didn't read your name properly.(unforgiveably bad form screwing up a man's name – shows no respect)SorryAndy

Hi Mark (Fully)Yep. . . you got it nailed.The issue for us is that while we can service a loan right now with payments of up to $650 – $750 per week, particularly if we are able to owner occupy while doing the renovations ( makes it easier to work afternoons, evenings and weekends around the property so its quicker too) we have just put our…[Read more]

It's interesting to read through the posts and notice that the most emphatic points are to increase the value of the property either by buying astutely ( negotiate HARD) and then reno to increase attractiveness. The increased capital value will result in increased rental yields further supporting an increased valuation.It seems so much like common…[Read more]

Hi Folks, some feedback on a deal I'm working on is needed . . . There's a 4 bedroom house that has been tenanted and neglected (and some damage) over the past 5 years of rental.The owner has put it on the market at $195,000.Generally, in this part of the sth coast, 4 bedroom homes within major towns rent for $300 to $350 per week and are valued…[Read more]

Hi Matt,I agree with the positives of the other posts, It is good that you've decided to secure your future and while you may think your starting late, it's still 7 years earlier than I did so i respect your ambition all the more.I also agree with the posit that you are better off looking for 2-3 smaller deals that provide strong cash flow and…[Read more]

Hi Alf 1 (Anthony)Firstly, thank you for getting the forum handle joke, ( I was worried about obscurity).Based on what you said about it only works if the Vendor is interested, I figured the best approach was to submit the offer, showing the benfits to the Vendor, and then hope he (a) agrees with the benfits and finds them desirable, and (b) is…[Read more]