Hi Mazza

As Freckle says, using a vendor finance Option strategy could also work very well.  Regarding the DA, you would put in all the work and cost of the DA application and the seller, i.e. the Title holder, will authorise (sign) all the DA application paperwork.

A vendor finance savvy solicitor in the NT is:
Vincent Close
Barrister &…[Read more]

Hi Mazza

As Darryl says, vendor financing (VF) of rural properties never lost its popularity with rural communities.  Unlike residential areas, were banks jumped into the market in the 80's and VF is only slowly increasing in popularity again.

If I were in your shoes, I'd be talking directly with the seller.  As you say, after such a long time…[Read more]

Our favourite Newcastle solicitor is:
Wayne Roddenby
Paragon Legal
Ste5/ 36 Kemp St
The Junction NSW 2291
(02) 4961 1120

Cheers,  Paul

Well done Eddie

Cheers,  Paul

Hi Johann

Just a tad of a broad statement mate i.e. real estate 'returns for investing are quite low'.  Sure the standard buy & hold strategy is having a few challenges but our full joint venture partners are earning anywhere between 17% and 21% (annualised) on their vendor finance properties.

Cheers,  Paul

We started out in residential real estate vendor finance to have the passive cash flow support our buy & holds, in the hope of accelerating the building of our buy & hold portfolio.

It did that so we kept doing it.  We stated out in 2003 and I was able to give up my full time job in 2009 to work in our vendor finance business.  Needless to say…[Read more]

Hi Rob

Deposit Finance is one of the three most popular vendor finance (VF) techniques in Australia, along with Instalment Contracts and Lease/Options (Rent To Owns).

With Deposit Finance the purchaser gets a first mortgage from a traditional lender and you supply a second mortgage to the purchaser for the bit the traditional lender didn't…[Read more]

Hi Dennis

When we got into real estate vendor finance our goal was to use it to help accelerate the building of our property portfolio.

We were in a similar situation to you but we realised we could only buy so many negatively geared properties before we ran out of equity and the ability to service the negative cash flow (serviceability).  As a…[Read more]

Some good information on the difference is available at:
http://somersoft.com/forums/archive/index.php/t-47514.html

Cheers,  Paul

Hi Steve

Sorry, I couldn't help but I keep away from back to back Lease/Options as I've found there are easier and more transparent  ways to put together vendor finance transactions.

Cheers,  Paul

The best two spots to look for properties being sold with vendor finance are, the classifieds in your local community newspaper and on the internet at:
http://www.renttoownhome.com.au
http://www.vendorfinancedirectory.com.au
http://www.gumtree.com.au

If you do find a vendor finance property that's affordable and interests you, may I give you a hint.  You will be…[Read more]

Terry mentioned that it's been around for hundreds of years.  As far as we can make out it's been around since about the 1870's in Australia.  Have a look HERE to see some interesting old sales posters, showing how most blocks of land were sold to Mums and Dads before the banks took over.

Cheers,  Paul

Hi kong

The technique you mention is one of the 3 most popular vendor finance techniques in Australia,  Vendor financiers generally call it Deposit Finance.  It was easy to put together before the GFC and and then almost impossible to arrange post GFC.

However over the last 12 months there are more and more traditional lenders who are prepared…[Read more]

Hi Ty

We believe our long term wealth is in the equity we have in property and we've used a slightly different way to accelerate the building of this equity.

The cycle goes like this. We buy or take control of a property and then on-sell it with vendor finance.  This sale is structured to generate good positive monthly cash flow.  With this…[Read more]

I find the following Stamp Duty calculator pretty handy:
http://www.rams.com.au/home-loans/calculators/stamp-duty-calculator/
but there are heaps of them.

Cheers,  Paul

Hi jmsrachel

We have been working in the residential real estate vendor finance market place since 2003.  Rent To Own is one of the 3 most popular vendor finance techniques.

Here's some information on vendor finance (VF) educational resources.

The Vendor Finance Association is a great place to meet vendor financiers.  Dates and details of…[Read more]

There's no doubt about it, it's all there on the world wide web and it is free   But sometimes you don't know what you don't know and trawling the web can feel like going around in circles.

Derek has a very systematic and easy to follow online course to take you from newbie to a reasonable level of competence.  As with most courses these days,…[Read more]

Hi Wilko

Options are quite flexible as you can insert agreed conditions.  Like you, initially we found the vendors had no idea and just said no.

What we needed to do was get the Agent on-side.  We did this by ensuring the Agent saw in the Option paperwork that they'd get paid their commission.  Worked a treat

Cheers,  Paul

If you're going to get into flipping I'm wondering why you would bother buying the property, considering all the finance and closing costs involved.  Why not control the property with an Option and then flip (sell/assign) the Option?  We've done this quite a bit and it works well.

Cheers,  Paul

Hi Dimsh

We got it from Choices.  Their Store Finder website is at:  http://www.choicesflooring.com.au/choices/?c=29  As mentioned above, we also went with the dark brown.

Cheers,  Paul