Hi Insider…

Basically you will need to be writing $10M a month in residential property finance over a period of 6 months before any of the wholesale arms of the banks will open discussions.

You will also have to show due dilligence in managing and creating relationships within your business, have the right personal to assist in approving credit (that is they have to 12 months + experience) a system and Quality Procedures manual…all in all if you start from scratch it would take time however businesses are always for sale….good hunting

Tony Barton

yes it is normally done and used on off the plan purchases,but can also be used to secure any property..

Plenty of equity and assume cash,go for it

Good morning…

Australia has never experienced a property bust before… only corrections of about 20% max.

I can”t see a bust this time around unless we have a huge x-factor not currently forseen, such as a huge stockmarket correction, major multi-country war, mass unemployment etc.

But surely prices can’t keep rising, ’cause sooner or later property just won’t be affordable to the masses.

At this point the market will have peaked and prices will start to fall.

Well, that’s my take on things anyway!.

Steam_Train

P.s. When are you going to run a seminar in the West? Do like the song says! “Go West! Life is peaceful there!”

Ed,

Unless you have a hotline to the PM then you are confined to the information access that the rest of us have… which in this case is really a best guess.

So my thoughts are that it won’t last forever, but it will last for a while yet.

I think I remember seeing other posts on the forum about this exact topic so why not do a search?

Oh – and since this seems to be your first post – let me beat Steve to the punch and welcome you aboard.

Steam_Train

P.S. And mate… if you’re telling me that $7k is the difference between buying and not buying then… well, things are looking grim.

Friends,

Surely the issue about software is to look at what needs you have and then find something to match it within your budget.

Personally all I use is MYOB and some crafty Excel spreadsheets.

But then again I’m a cheap sod.

Steam_Train

Tim,

I made an offer on a property in Queensland once and was surprised to find that the agent required I sign a contract rather than an offer.

I put it down to banana-benders doing things differently and mused about what would happen in the counter-offer process.

Well – the contract was faxed back and forth and every counter offer meant a line through the precious figure and then signatures. It was a shambles, but it was the way the market worked.

Anyway, so long as you have a ‘get-out’ clause… what difference does it make if you sign a contract or not?

Oh – and by the way – three get out clauses is surely almost an overkill isn’t it?

For what its worth I don’t think you did anything wrong and now your more experienced for the effort. But what did your lawyer say about the process?

Steam_Train

P.S. What’s poverty then? A choice?

Hi all,

As far as wrap software is concerened you may want to check out a mate of mines website (Rad Williams) http://www.mypropertymaster.com which incorporates a 30 day trial period.

Good Investing,
Tony Barton

Hello Michael

Yes I am in Hobart. I would like to be in a position to attend regular meetings, but at this stage it is unlikely as i plan to head overseas in the next few months. Although when i return i look forward to seeing what has been set up.

Goodluck with it