Hi priscillac22

You mentioned that you haven't yet completed your DD.  With all the stories I've seen on this forum regarding problems with buying in the wrong place in the US, I'd strongly suggest you give Nigel a call.

Cheers,  Paul

Hi Dimsh

We've put the following down in 3 properties so far and we're very happy with it.   The following is from the quote:
Supply and install "Banyan # Caper" 100% solution dyed nylon twist pile extra heavy duty domestic grade carpet, to be laid upon "Eureka" 10mm thick foam underlay ….

Cheers,  Paul

I've come in a bit late on this one but I would have been tempted to suggest a short term Instalment Contract (1, 2 or 3 year or whatever you need), with a balloon payment at the end.  Beside that I would have put in place a short JV Agreement with the Vendor, for the purposes or outlining the plan, i.e. to subdivide the blocks and sell them.

In…[Read more]

Hi Riyadh

Welcome to the forum and congratulations on a great first post.

Cheers,  Paul

Hi Dan

There is also an interesting interaction between building and contents insurance when a property contains asbestos.  Have a blog at our blog post at:  Click Here

Cheers,  Paul

Hi Blessed

During periods of negative to low capital growth a lot of people have been 'taking a bath' on their residential IP's.  That's not to say that capital gain won't return but we've started to chase positive cash flow a lot more these days than capital gain.

We've been doing this by converting some poorly performing IP's to positive cash…[Read more]

Hi David

As Terry says, there is no requirement for a Contract to be signed to make an offer in NSW.  I suggest you submit a written offer to the Agent and explain to her/him that you understand Agents are required to submit all offers to the owner.  This approach should help the Agent understand you know the rules concerning offers – and to ease…[Read more]

Another way to locate sellers that may be interested in selling you a property with vendor finance (VF) is to talk with Property Managers (PM), i.e. rental PM's.  Ask the PM if they have got any properties for rent that came back to them after they didn't sell.

This question has a great filtering effect, i.e. the owner wanted to sell but was…[Read more]

Hi Janice

I haven't used him but some friends have recommended:
Jules Lewin – Solicitor
Charthill Legal
(m) 0417 921 428
(e) jules@charthill.com.au

Cheers,  Paul

Hi SherJava

Welcome to the forum.  As you used the word 'foreclosed' which is normally a term used in the US, could you confirm your question relates to the Australian market?

Cheers,  Paul

Hi Event

During periods of negative to low capital growth a lot of people have been 'taking a bath' on their residential IP's.  That's not to say that capital gain won't return but we've started to chase positive cash flow a lot more these days than capital gain.

We've been doing this by converting some poorly performing IP's to positive cash…[Read more]

Hi Corie

A couple of great url's that explain the differences between Rent To Owns (Lease/Options) and Instalment Contracts (IC) are:
https://www.propertyinvesting.com/strategies/lease-options  and
https://www.propertyinvesting.com/strategies/wraps

I tend to prefer the IC as it is a real Contract of Sale and and all State governments, except SA,…[Read more]

Hi Corie

Like everything, if you say it quickly it sounds easy    but there's always more to it than meets the eye.  This doesn't mean it's difficult, just that there are a few new things to learn and keep an eye on.

The three most popular techniques for selling a property with vendor finance (VF) are Rent To Own, Instalment Contract and Deposit…[Read more]

Hi Craig

I live in the area and my local general operating area is between Newcastle through to Rutherford, so I know Thornton well.  Please feel free to PM me or give me a call.

Cheers, Paul

Hi Craig

As you have so much invested in this property it may be time to make it pay its way, i.e. lock in a fixed capital gain on the proerty and turn it from negative to positive cash flow (if that's the current cash flow position).  We use a technique we call negative2positive to turn around our 'dog' IP's.  It involves selling the property…[Read more]

Hi Tiggar

It sounds like this property needs to start 'earning its keep'

We have a process we call negative2positive that involves selling the property with vendor finance.  This normally has the effect of locking in your capital gain and generating positive cash flow.  An outline of what's involved is available at …[Read more]

If you are self managing, I'd suggest you become very familiar with the Victorian rental handbook, available at:
http://www.consumer.vic.gov.au/library/publications/housing-and-accommodation/renting/renting-a-home-a-guide-for-tenants.pdf
and, as mentioned above, follow it's directions exactly.  The section you need starts on page 25.

Cheers, …

Hi Dippa

I forgot to mention; when you're with your solicitor, I'd suggest you get advice on what licensing may or may not be required to do what you're planning.  Information on this subject is also available at:
https://www.propertyinvesting.com/forums/creative-investing/4346526

Cheers,  Paul

Hi Trisha

Have a look at  https://www.mypropertytracker.com.au/  I don't use it but I've heard a few good reports.

Cheers,  Paul

Hi Dippa

Two vendor finance savvy solicitors mentioned at  http://www.vendorfinancelawyer.com.au/vendor_finance_specialists.htm  are:
David McDonald
Lawfield, Lawyers
Suite 9, Level 2,
11 Ventnor Avenue West Perth WA 6005
(08) 9215 7500
Website: http://www.lawfield.com.au

Paul Lander
Lander Lawyers
19 Clifton Street
Bunbury WA 6230
Phone: (08) 9791…[Read more]