Hi PJUnfortunately I don't know of any VF specific forums in OZ.  However if you do a search for Vendor Finance here and in the Somersoft forum, you'll get an immense amount of reading material.  Also, I don't know of any specific books on Vendor Finance in Australia but a few web resources that may help in your search for information about v…[Read more]

Hi CorzaWe started our Vendor Finance business on a part time basis and as it grew Karen, my wife, moved into it full time, followed by me later.  Of course we could have stayed part time if we'd wanted but it had been our dream to have our own business for many years and, after many false starts in other business enterprises, we obviously got…[Read more]

Hi CorzaWe've found using both both positive and negative cash flow properties has helped us to accelerate our portfolio building.Our +cf properties are properties we buy and on-sell with vendor finance and our -cf properties are the properties we plan to hold forever Our +cf properties maintain our lifestyle and support the -cf on our long t…[Read more]

Hi ClintWe too use Tony Cordato.  His contact details are:Cordato PartnersLevel 5, 49 York StreetSydney NSW 2000P (02) 8297 5600F (02) 9290 2784Cheers,  Paul

Hi VonyI agree with both Richard and Terry.  I'd also suggest that you make sure you get the legal paperwork drawn up by a solicitor that works with VF regularly.  He/she could save you a lot of money and can quickly let you know of the latest "best practice" when it comes to VF.If you'd like the details of a VF savvy solicitor in your State, le…[Read more]

Hi DarrylYou mention your living a a growing town with a population of 5,500.  This size town would probably support at least one vendor finance (VF) transaction, i.e. buy a "standard" family home and, instead of renting it, on-sell it with the help of VF.This type of transaction will typically give you positive cash flow at three points, i.e. t…[Read more]

Hi DSounds very suss to me.  I recommend you have a talk with Steve Harvey at the Harvey Law Firm in Argenton.  Steve is a real straight shooter.  His contact details are:Harvey Law Firm – Solicitors and ConveyancersPostal:  Box 3042, Glendale NSW 2285Phone:  (02) 4958 8889Cheers,  Paul

Actually the Polies are just catching up with what has been a talking point in the Lending world ever since the NCCP Act came in, i.e. Exit Fees have to reflect the real administrative cost of closing a loan and should not include fees for lost business opportunity.  Even ASIC's Regulatory Guides have been indicating this.Obviously there is an a…[Read more]

Hi LoraI've always used a Broker and always will.  It just makes sense to me that a bank will try to minimise their risk by tying you up with things like cross collateralisation that will greatly reduce your flexibility as your portfolio grows.Cheers,  Paul

Hi JamesIn relation to your question about whether you can buy a property on a Bridging Visa, I suggest you have a read of the Foreign Investment Review Board's brochure "Buying a Home in Australia" at:http://www.firb.gov.au/content/publications/buying_a_home.pdfOnce you've ascertained if you can buy, I'm sure there are a lot of people here on the…[Read more]

Hi AsokaMy experience as an expat allowed me to get a USD denominated loan from one of the Australian Big 4 Banks but this was only allowed if my income was paid in USD's (which it was).  This effectively shielded me from exchange rate risk.If your income is earned in AUD's, I don't know of an Australian or US Lender that will give you a USD h…[Read more]

I've been watching the various protests from local residents, protesting that the new NRAS projects are the slums of the future and they don't want them in their area.  I think I'll stay away.Cheers,  Paul

Hi JustineSure.  Feel free to give me a call.Cheers,  Paul

Hi justine08Yes we have been doing vendor finance transactions since 2003 and we're very happy we got into the business.I've got to agree with all the comments here, especially Richard's comment that somewhere along the way, you are going to need "some" money.One person also mentioned the "terrier" idea.  We call them "bird dogs"   They bring p…[Read more]

Hi MarioI'd suggest you have a JV Agreement for each project.  As a number of people are putting great faith in you by putting up the funds, I think the last thing you need to do is try to draw up the JV Agreement yourself.The first JV we got drawn up by a solicitor cost us $450.  It would cost a bit more now but, with the right solicitor, y…[Read more]

Hi MartinTom Forster from Litigation Law Queensland does a lot of Lease/Options.  He should be able to help.  Tom's contact details are:Tom ForsterLitigation Law QueenslandPO Box 777 Main Beach Qld 4217Phone: 0428 777 007Fax: 5591 5571Email: admin@litigationlaw.com.auCheers,  Paul

Hi MarioIf you were to use a loan agreement, you can get around the new National Credit Code by ensuring that both parties to the loan agreement are Companies.Another, possibly more comprehensive, way to structure the arrangement you mention would be a Joint Venture.  This should remove any Australian Credit Licence requirement and would be a JV…[Read more]

Hi MelissaWelcome to the forum but you're going to get flamed or deleted if you continue this type of post.This forum is not for advertising your services.  It is a forum where people help each other.  As a vendor financier you have knowledge that others don't.  Be prepared to share that knowledge and also be prepared to open your mind to all th…[Read more]

Hi ReginaldThe NSW Dept of Fair Trading's position on Water Usage is:Water usageIn some cases a tenant may be asked to pay to the landlord the water usage part of the bill. The ‘water usage’ charge which appears on the landlord's bill for the rented premises is for the total amount of water which flows through the water meter on the prop…[Read more]

Hi MatAs you have an IP and are generating income from that property, the 2 day property course should be claimable.  However, check with your accountant.Cheers,  Paul