Hi Smm91Whether it's income protection insurance or mortgage protection insurance, if it were me, I'd make sure I had some type of insurance to cover you.Cheers,  Paul

Hi JohannI thoroughly agree with all the above.  We can help the guy with his Australian Credit Licence application but, as Richard says, it's very possible that he also needs an AFSL.  Can't help with that one.Cheers,  Paul

Hi DerekI have been saying to vendor financiers for some time, that 'the authorities' would find a way of regulating Lease/Options, the only remaining vendor finance technique not regulated by the National Credit Code.  I thought they may accomplish this regulation by an amendment to the National Consumer Credit Protection Act 2009 but the…[Read more]

Hi AlbroI agree with Richard.  Make sure you take it as seriously as all your other investing, i.e. make sure you do your due diligence and don't think of it as a quick way to make a quick buck.  It's not.We've been running our vendor finance business since 2003 and our experience to date has been that, as the number of vendor financiers i…[Read more]

Hi ssusanhIn relation to the discussion above, I'd suggest you stick with Richard and "tell the truth".However in relation as to where to start looking for a properties that are available with vendor finance (VF), here are a few suggestions:www.renttoownhome.com.auwww.vendorfinancedirectory.com.auwww.gumtree.com.auA few VF listings are now…[Read more]

Hi Steve We started our vendor finance education in 2003 and, to date, have received this education from John Burley, Steve McKnight, Rick Otton and Joe Arldt. I believe it is important to build a good foundation to your vendor finance knowledge and there are numerous educators to choose from.  Some that spring to mind are:Sean Summerville  –  [Read more]

Hi wiebkeIf Terry isn't available, I'd recommend Tony Cordato of Cordato Partners.  His office number is 02 8297 5600.  I've work with Tony on many very creative transactions since 2003 and I know he is a fervent real estate investor.Cheers,  Paul

Hi scha9799As per our phone conversation and Terry's and my response at:https://www.propertyinvesting.com/forums/property-investing/creative-investing/4344467I'd suggest you have a good read of Terry's response above and the links given in the url above.Cheers, Paul

scha9799 and Andy, at this point it would be a good idea to get to know the difference between an Instalment Contract (IC) and a Lease/Option (sometimes called a Rent To Own).  Have a look at:https://www.propertyinvesting.com/strategies/wraps https://www.propertyinvesting.com/strategies/lease-optionsscha9799, everything you're looking for is…[Read more]

If there are more than two 'units' there must be a body corporate.  I believe this is the case Australian wide.Sorry can't help you with the costs involved of setting one up.Cheers,  Paul

Hi JTLuke mentioned above that Steve 'used vendor finance to build a cash flow business.'  Instead of selling your Corlette property at a loss (if you sell it for what you bought it for in 2008, it will be a loss), another alternative may be to sell the property with vendor finance (VF).  This has the potential to convert your Corlette property t…[Read more]

Hi MakitaAlong with all the excellent advice here on various strategies and operating models, my answer to your question, i.e. 'what you would’ve done better if given a second chance' is, Start Earlier    Time in the market has a great multiplier effect.Cheers,  Paul

Those books mentioned by Luke are all excellent and I too recommend them.  I also suggest you get an expert accountant or solicitor to advise you on trust structures, as there are a lot of them.  I'd suggest you contact Terryw, a very regular contributor to this forum.Cheers, Paul

Hi AlwaysAs Tracey asked, how low is your deposit and do you want to rent it or live in it?If you want this property for investment purposes I'd suggest you don't buy with vendor finance (VF) from a vendor financier.  The average client of a vendor financier is a person who is locked out of traditional home loan finance, for one or more of a…[Read more]

Hi CintakuI agree, i.e. it's always helpful to show to show the win-win nature of the transaction.  I find the easiest way to do this is via testimonials, e.g.http://negative2positive.com.au/testimonials/sandra-sua#  andhttp://negative2positive.com.au/testimonials/ann-evansCheers,  Paul

Hi GeoffIn Qld, as a first home buyer you are eligible for an exemption on Transfer Duty and the $7,000 FHOG (after 12 months of occupation) when buying your home with an Instalment Contract. …[Read more]

Hi LiamThanks for you PM on this same question.  I've replied via PM but here's my response anyway:'As far as I know, no traditional lender, i.e. bank, building society, etc, will allow you to 'compromise their security'. If you look at most standard mortgage documentation, you need to get their approval to renovate the property, sell the…[Read more]

Hi MattWe dropped Alliance about three years ago because of their pricing and unworkable rules.  We now work with a very VF friendly insurance underwriter and what you propose is not seen as a problem by this underwriter.Sure go conventional but don't be forced down that path by insurance issues because while Alliance's A******* Unity underwriter…[Read more]

Hi JPCCMA private sale or a sale through an Agent is the strategy you're probably locked into if you need all the money now (less Agent's commission and sales negotiation loses).However, if you can afford to trade off some time, you may get the price you want and positive cash flow while you're waiting, by selling it/them with vendor finance.  If…[Read more]

Hi PhilWe work a lot with JV's. From a JV where our JV partner buys the property and we do the rest, through negative2positive JV's and finally the Assumptive JV (AJV).  In all cases we've made sure that the owner on the Title is the owner of the insurance policy, with us 'on the side' with our paperwork authorising us to deal with the policy.If…[Read more]