I had the good fortune to be at a seminar run by them with Bernard Zick. Great stuff! As posted previously, it was all on different ways of using options that were very creative. Apparently ol’ Bernard’s been around the tracks for a very long time and claims to have trained 23 known property “guru’s” (the only one I recognised in the list was…[Read more]

PS!

For anyone who hasn’t the foggiest on calculating the impact of the mortgages they’re looking at, Cannex has a funky little calculator at http://www.cannex.com.au/mortcalc.html that will give you the APR of your mortgage. The APR (or true rate) is what the interest rate they’re charging *would* be if you include all fees and charges! Not…[Read more]

I’d say any rebate is just another number to plug into your financial calculator when doing your due dilligence calculations. I remember Peter Spann saying on one CD that most Australian banks make as much (or more!) from their mortgage fees as they do from the interest (as all their customers focus on getting a low, low interest rate beyond all…[Read more]

Assuming the deal set up is a kind of lease option, then I’d arrange to have the amount of the mortgage payments automatically paid into the bank mortgage and then be sending the seller the remainder…

Also, I know that in North America when an investor puts down an option it’s normal to also register a, I think it’s called a “Notice of…[Read more]

Hey there Freedom

I remember reading the stats once that the vast majority of property “investors” only own one property. Of those a massive proportion were -ve geared in “nice suburbs with good perceived potential appreciation”. Having worked in two very well known seminar companies and getting to know most of the main customers my experience…[Read more]

Hey there Steve!

A very engaging introduction! I loved the use of a story to begin as it immediately drew my imagination effortlessly into the book. I especially loved the part:

quote:
it dawned upon her that she was now able to enjoy a permanent long weekend for the rest of her life.

As not many people have ever entertained the idea of what…[Read more]

Read as much as you can on the topic, get some good people around you to advise you (eg lawyer, mentor, insurance broker), find out what repairs will earn the most $ back, look at lots of comparable sales in the area and go make some offers!

Good luck! []

Quasimodo

PS Reading every post that’s been left here from page 1 onwards will also give…[Read more]

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My Mum work uses a debt colector, they take a 10% commision, and thats it, no work for you so why not. Also i think the NSW sherrif might do that kind of work.

Personally I’d go with the debt collector

We’re going through the NSW Sheriff on a non business matter and so far we’ve had to go through court appearances (where the other party…[Read more]

Hey there ’40

What kind of strategy are you looking at? Buy and hold? Wraps? Flips?

You may want to add to that list the *type* of property that makes up the majority of sales in the area (is it all 2 bedroom units, split level townhouses, large old Queenslanders?). The more like the average sale your property is, the greater the demand is…[Read more]

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I live O/S & therefore it is quite difficult to find and research properties at the rate I would like to.

How about looking for appropriate places to wrap in your country of residence? There’s nothing magic about Australia and wraps (in fact if you look at the laws, there’s quite a bit of “unmagical” stuff! [xx(] ) What country are you…[Read more]

Hey AD!

Good to have you back!

Personally I’m up to a whole lotta plottin’, planning and goal setting as I get ready to move to back to Oz (up to Qld for a change!) and start wrapping like a wildman! (or so the plan has it! [] ). Two weeks and one marriage (to a most wonderfull Canadian []) to go! (April 13’th!)
The areas are (roughly) selected,…[Read more]

How nice of them to send you six months of NII sponsored propagan – er magazine subscription – (check the fine print on the contents page…), and throw in a free sales presentation, too!

You might want to do a search on ASIC’s website and see how useful they think Henry’s seminars are.

After you’re done do a search on this board for Henry Kaye…[Read more]

As Soosh says, a building inspection is vital.

I’d add to that list a title and pest inspection along with running comparable sales. You can get these either from an independant company such as rpdata, home price guide, property value etc or by asking your agent for comps – just be aware they may choose to only show you ones that suit them!

I’d…[Read more]

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and ask that you will sign the offer and the contract in the office ,but you require the vendor to be there to countersign.

I think I’m missing something here… What’s the purpose of this? So you can negotiate with the vendor face to face? So the agent can’t make up phantom bids?

Hooooo boy. Back to bed, Quasimodo!…[Read more]

Thanks EnjoLady!

We get good stuff from so many people here!

Some of it occasionally about real estate! []

Quasimodo

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Funny how action has a way of answering all of our fearful questions…
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Seems to me that we (humans) need enough uncertainty (=variety=growth) to test us, but enough certainty (=security=assurance) to protect us from running smack into doing something stupid!My instinct is that the key is constantly looking at where we are between these two poles and investing there accordingly. That way, you start with something…[Read more]

Is it all about making money?

Well, let’s ask a question? Why would you want the money? Do you really want pieces of plastic with pictures of dead people on them? Personally I don’t! What I *would* like is the power to influence my world in the ways that make it better for both myself and others to live in, and, co-incidentally money happens to…[Read more]

True, you need to factor in vacancies, or find a creative way around them! [] For example if you look up the area and see that there’s an 8% vacancy rate, I’d assume that your place is going to be vacant 10% of the time when crunching your numbers.

One alternative to just assuming the worst on rental vacancy is to line a tennant up *before*…[Read more]

I wholeheartedly agree with the Anthony Robbins reccomendations. Overall though there’s a few things that can be done.

1) Research – Not knowing your market should be cause for genuine fear that shouldn’t be ignored! [] Sometimes *specific* research can dull *specific* fears nicely. eg fear of paying to much – research comparable sales figures.…[Read more]

Seems like a pretty clear case of spending 50 cents to make a dollar to me…[]

Quasimodo

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Funny how action has a way of answering all of our fearful questions…
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