Forum Replies Created
No probs HoBe,
There’s probably a myriad of other reasons why businesses often don’t own their own premises. I’m not typing from any commercial property experience – just theory. I’m sure some of the more commercially focused savvy investors can give you a more solid answer.
Rgs
QL
I also have a general question that applies to Dazzling’s case. If the tenants are happy to pay a price for a lease that well and truely covers the interest, how come they don’t buy a property themselves?Hi HoBe,
I may have an answer to that question – many businesses make such good returns on their cash that a property investment would seem like a poor investment to them! They stay in their core competency and consider property ownership as a waste of funds that could be used to grow their highly profitable business…..
Just a thought
QL
Thanks Bob, I have read 0 to 130 properties and appreciate the examples given there, has Steve since published another book? The purpose of this exercise is to validate some figures on a deal done today (which may still be possible based on Steve’s figures however I am unsure)
I have read via the forums lately that +ve cashflow deals are still out there, however they now need to be created as opposed buying them as easily as may have been possible previously.
Dazzling, these are the types of deals most property investors would aspire to create – thanks for sharing – I think I read something about that deal many months ago and remember how it set me off when I read it! thanks again.
Xenia, Your deal is an interesting one. I’d like to crunch those numbers some more and I’m interested to know what the 40% is based on? Is it 40% of the $350 that get’s held on behalf of the tennant so they can purchase in 2 years? Does that have to be held in trust or do you have access to it? I like the deal, very creative. Do they also give you a holding ‘deposit’ due to the fact that it’s a lease option? I have learnt a little about lease options however they are still relatively new to me….where is the best place to learn more?
Rgs
QL
Thanks everyone for your examples – much appreciated.
This is the type of stuff I’m looking for, some real life examples that we can base some calculations on. It will take us some time to reach guru status so maybe an ‘average’ deal would be good also so we have something to aim for in the first instance.
Thanks again, and much appreciated.
QL
Ahhh,
Thanks Derek [thumbsupanim]
QL
I love it! Thanks for sharing.
Just one question, do you find agents reluctant to give you access to the vendor? If so, how do you overcome this?
Rgs
QL
Thanks Wendy,
That would be great,
Rgs
QL
Originally posted by MaiA:…..
Interested to know about your deal…..Hi MaiA, I haven’t done one yet, just gearing up for it (starting to do some due diligence at the moment).
I’ll post up here when I’m in the midst of it.
Rgs
QL [suave2]
MaiA,
Great stuff! I am also in the process of looking into an aquistion using an Option….
Can I ask, how did you net the $15K? Did you do anything other than onsell the option? Did you take title on the land?
Rgs
QL [exhappy]
Hey Patrick,
Are you married or single?
If I was single and in your position, I would look at a local property that fits the following critera:
– Subdividable or potential for future development
– Heaps of space (ability to setup many rooms)
– Renovation potential to add immediate valueI would then investigate the concept of buying a PPOR, moving in and having a bunch of students living with me to pay the place off…
As I said – don’t know your situation, and don’t take this as advice, but that’s one option I would investigate.
Regards
QL [thumbsupanim]
Hey Andy,
Good suggestion about second hand cots and prams for the kids a few posts ago, we have children and when our first came we bought the best of everything thinking we were doing the best for our new bundle. Now the $1100 emalunga pram is sitting in the garage, go figure…[happy3]
Cheers
QL
Quote: “I have to have a bit of a laugh at the suggestions of you and your wife going out to do extra jobs[biggrin]. Unless I am seriously mistaken you are having a baby” [ohno2].
AndyM, I’m afraid I was one who gave you one of those suggestions [tongue] I probably should have qualified that I didn’t mean for your wife to consider Tupperware NOW. More of a longer term suggestion….
My freind who does Tupperware also has kids and finds it works really well with the family thing.
Cheers
QL
Hey AndyM,
Nice to see how you’ve been supported through this – I’ve only been around on this forum for a short time, seems there’s many a decent person here indeed! [exhappy]
One other option for some additional cash flow, see if your wife likes the idea of running her own tupperware business. I have close freinds who run them and could hook them together for you so they can chat about the idea. My freind always has spare cash and it’s been wonderful for their family as a supplemental income stream.
Another idea – I have another freind who works as a mortgage broker and has struck a unique deal to enable him to get a lifelong trail commission on all his deals even if he gives up the job. Could be a good supplemental for you.
Keep your chin up, I’ve also been through some tough times, done my share of pizza deliveries and commission only sales work to pay the bills. Your situatuion will change for the better I am sure.
God Bless, [thumbsupanim]
QL
Hey there,
Without knowing your market, I’d say it sounds like an excellent idea. A wise person once told me “never sell real estate – just buy”. Whilst many would disagree with that approach, if you believe your PPOR will have good long term growth, AND you can develop in the future, I’d definetly hold onto it.
Make sure that your family are cool with renting their PPOR before you sink all your money into investments. I thought we could rent our PPOR, however when my wife fell pregnant during my time of researching property investment (with intent to buy) the whole thing went out the window (she wanted to own the PPOR).
Tax wise, if I recall correctly it’s actually cheaper to rent your PPOR and own investment properties than it is to own your PPOR. But it’s horses for courses.
Not sure if I’ve been much help, but my 2c worth would be to hold your QLD property….
Cheers
QL
Another “guru” in the US on foreclosures is Ron LeGrand. I’ve studied some of his material. Do a google search on him….
Rgs
Richard
Cool, thanks Anne
Cheers
Richard
Awesome post!
I am 33 and went absolutely gung ho at investing about 3 or 4 years ago. Anyway I was in the midst of my first (and sizeable) deal when Sept 11 struck. Key people in my deal got nervous so it fell in a heap. I came out unscathed and alot more cautious, now have kids and a good job again (Sept 11 also caused redundnacies in IT sector) and now about to get back on the investing track…
Feels good to finally gear up again.
Cheers and go for it – but do your due diligence well!
Richard
Hi There,
It seems I need to register on the website to see your ad…You’ve piqued my curiosity – so was keen to see the ad.
Any chance you can post the copy here (instead of the link)?
[smiling]
Regards
Richard
Glad to see that I’m not the only one slightly annoyed by Mr “property trader” guru
Let’s hope he changes his user name and starts again with a slighly better attitude next time! [angry2]
Bwendan and Property trader, I really don’t understand the point of your posts.
The subject line is about nothing down strategies. How do your comments/posts help other forum members in regards to ND strategies? They don’t! They’re simply a waste of time! [angry2]
Richard
