Kay, if you are satisfied you paid the right price then that is fine.

I wasn’t trying to be a smartarse. Well, perhaps it looked that way, so I want to assure you that there was no malice behind my post.

Here is another interesting story.
The same ex-partner who by the way is quite wealthy told me some 25 years ago that he wanted to buy a waterfront house forhimself.

I got busy lining up suitable properties and we spent several months inspecting and making offers.

There were several properties which he was interested in but he applied the same techniques as he did in business i.e. making low ball offers.

The end result is that he never did buy a waterfront property.

The moral is that if one wants to buy a property for one’s own use perhaps one should consider paying that little bit more than one otherwise would.

Pisces133

Guccical, you are talking about figures which aren’t achievable.

There are many pitfalls.
Firstly the house has to be the right kind of house, sizewise.

Regulations limit the width of a house being moved. It may have to be broken up in two or three pieces. The house may not be suitable anyway to be moved.

The farther the house has to be transported the more it will cost you.

I would hazard a guess and come up with a figure of say $ 25k for the moving bit.

Don’t buy a house which is too ‘old’.
One way of judging is to look at the windows.
(are they ‘modern’ windows i.e. aluminium windows?)

ALWAYS have a housemover look at the house to see whether it is suitable.

ALWAYS check with council to see whether they need to inspect the house first.

Once the house arrives on your block of land you are up for the following cost at the least :

bricklayer to lay foundations.

plumber to connect the sewer

electrician to rewire

painter to freshen up the house

carpenter to make repairs.

appliances to be installed ?

replacing concrete floors which have falled out during the transport

concretor to lay new driveway and garden paths

garage or carport to be erected

NEVER deal with a housemover unless he has a lot of experience. There have been instances where the house collapsed whilst being transported, the house being abandoned whilst in transport and the housemover taking your moeny and not doing the task.

When it is all said and done, there is an enormous amount of work involved in doing what you are talking about but in the end you will finish up with a house that is usually much larger than the new houses which nowadays are being built and the cost is considerably lower than any other way of getting a house.

Pisces133

toystory,

I think that you will never know if you don’t try. What is the worst thing that could happen if you put in a low offer? The RE will knock you back and if you really want it, you just put in a higher offer. If you don’t put in an offer at all cause you are afraid that it is too low, then maybe the seller might miss out on your bid when in fact they might be willing to sell it at that price rather than not sell it at all.

However, what is the best thing that could happen? You can save thousands$$$! It takes years for normal people to save up thousands of dollars, well I know that it takes me that long.[]. The seller might be happy to make a quick sale!

Buying investment properties is business. Only the figures need to make sense. [8D]

Well that is my 2 cents.[]

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Tomorrow, you might wish you started today.
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I suggest you go to the following website.

http://www.rentmaster.co.nz

Cheap software (just $ 70-00)
You can get a free trial

Pisces133

No, of course it isn’t illegal to deal with two brokers. But ………., not disclosing this fact to the second broker can work against you.

There are however pitfalls in dealing with several brokers. Some brokers have you sign a mandate which means that you are committed to pay them a fee if you don’t proceed after they obtain approval.

Unfortunately you supply too little detail for me to comment properly.

It certainly appears as if you have little time left before the sh.. hits the fan.

The things I am asking myself about are the following :

1. where is the property ?

2. if it is a unit, what size is the living area ?

3. is there, from the bank’s point of view, sufficient income to service the loan ?

4. why wasn’t the broker able to indicate whether you would qualify ? A broker knows what a lender is looking for so he would have a good idea.

5. It appears as if you’ve had some problems in obtaining a loan in the past, so why stick your neck in the noose (i.e. exchange contracts of sale) without first having obtained loan approval ?

6. Is there an obvious reason why there would be a delay ?

As someone else commented, often the problem lies with the mortgage insurer who may be ultra cautious in assessing your application.

Oftentimes a particular problem can be explained away !!

It is not correct however that there are only two mortgage insurers.

If you want some (free) advice on a more personal level (without baring all your soul to all on this website) feel free to contact me.

Pisces133
( [email protected] )

LOL arty WILL return!! I just dont know when!! Im having enough problems finding time to be here

Christmas is killing us!! We still havent wrapped presents and Ive gotta cook potato salad and 6 roast chickens!! (even though I have to admit our xmas social life is busy and full of good food great friends and mind blowing sex…..ALL IN THE SAME ROOM!!! []) ok ok Ill stop bragging…..hahahha

Have a safe one…..and Ill hold out on arty till he logs in and wishes ya all a merry xmas [}][]

:þ

The way to protect yourself better,Bear,would be,
first of all, to only deal with people whom you think are ethical and, secondly, have an agreement signed by them beforehand.

Such an agreement would be along the following lines :

It would state that in return for you introducing someone to a particular property from time to time that person will pay you a fee upon the property being purchased by that person, an associate of that person, or a company associated with either that person or a company associated with one of their associates.

The fee can be a set fee or a fee which changes from property to property.

There is a definite place for someone like yourself to locate properties. One deserves and is entitled to be paid for such services.

However Iwould imagine that you wouldn’t merely mention an address so much as also supply a report which sets out the acquisition cost, the cost of and time taken for, any necessary repairs, the rental value, the anticipated time required to find a tenant, the end value, and the supporting factors which make it a good deal (for example an expanding work force etc).

However, having mentioned all of the above I wonder whether it wouldn’t be less hassles and more profits if you could tie up the property first (buying it if necessary).

Pisces133

Mark, there isn’t any need to involve the bank in
your application for the govrnment First Home Buyer’s grant.

You can apply yourself and it will take about three weeks after settlement to get piad (with a deposit being made in your nominated bank account.

To qualify there isn’t even a requirement that you move in immediately. I understand that you are eligible as long as you occupy the dwelling
within twelve months from settlement.

Please verify the above with the relevant government department.

Pisces133

Toystory, we all are waiting with bated breath where we too can find interest rate at 3.75%

Pisces133

>>Put your SMSF into 2nd mortgages.<<

Second mortgages are high risk for several reasons.

Smart things to do are :

1. It may possibly be a different matter if one were able to spread out one’s money over a large number of mortgages thus spreading the risk.

2. Limit a loan to a maximum of 75% of the value.

3. Be careful about valuations. I understand that in Queensland more than a hundred valuers are in trouble with the law because they issued bodgie valuations.

Whilst a broker may sometimes (very seldom) be able to come up with a gilt edged opportunity I would nevertheless be very very wary of brokers.

Pisces133