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 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 up on the BS 

Cheers,  Paul

Hi Janice

I haven't used him but some friends have recommended:

Jules Lewin – Solicitor

Charthill Legal

(m) 0417 921 428

(e) [email protected]

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 flow by selling them with vendor finance.  We call it our negative2positive process.  Our website at  http://www.negative2positive.com.au is there to promote our N2P service but it's got some good free information there, to get an idea of what it's all about.

Cheers,  Paul

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 Finance.

One of our businesses, negative2positive helps owners sell their properties with VF.  While  http://www.negative2positive.com.au  is a website to promote this service, it's also a good place to get some basic information about what's involved.

We also put out a regular negative2positive newsletter that's designed to help people having a go at the technique themselves.  It's designed to make sure you stay within all the rules that surround VF.  Just submit your details on the home page and the system will send through your first newsletter.

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 with vendor finance and more information on how this is done is available at  http://www.negative2positive.com.au

Cheers,  Paul

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,  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 eclz4

All you mentioned in your post is possible.  Just FYI, if it were me I definitely wouldn't do it.  It's been our golden rule since we got into vendor finance in 2003 that we don't deal with family and we have had a lot of requests.  It's saved our butts in a couple of cases too.

Obviously it's your decision and if you let me know what State you're in, I can recommend a vendor finance savvy solicitor.

Cheers,  Paul

PS.  If you do decide to go ahead at least check his credit report and if his defaults are showing as unpaid, I would run away even faster