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This is a very interesting question.
Do you have a job ? or a business or any income stream ?
If you spend less than what you earn you should have "SAVING".
If you can show someone that you have a period of saving, then I believe someone will lend you money.
I know vendor finance people willing to lend the buyer 100% of property price. But the cost of the money will be high.
Money will never be a problem for who has ability to make repayment on time.
The problem is the cost of the money.
If you want the cost of the money to be low then you have to save hard and go to the traditional way.
if you don't mind to the high interest rate, then show and proof some vendor financier you have able to make repayment, I am show once they are satisfied with your proof. They will give you a loan.this is my 2 cents.
1) ask some solicitors about adding the name to the title and see if you are qualify for FHOG.
2) also talk to some mortgage brokers and bank to see how you can get a loan to buy half of the property from your sister.
Hi labradorinlove,
Thank you for you sharing your story and experience.
I guess you must have a lot of sleepless nights.If I were you, I would just fly there. do whatever it takes to get rid of the properties and move on.
You got to weight out the benefit/rewards and potential sleepless nights, if you still keep holding these properties.
I really appreciated that you work hard and had 8 properties when you are still in your 20's. This experience will certainly make you better investor going forward.
please let us know how the story end.
Best of luck
driveway prevent the car going down to the garage.
the same unit have some resident using the garage as car park, because they have 4 wheel drive.but car park does exist, his car just not 4 wheel drive….. and I didn't even know till recently…previous tenant has no issue…..
It's like buy before you try. it's vendor finance, a way to buy property without a tradition bank loan.
A (seller) sells a property to B (buyer)
B rent for X amount of money and on top of the rent B offer Y amount of money to secure the agreed price.
then B agreed buy the property for Z amount of money in S amount of time.
A can't sell house to someone else other then B for predetermined price Zso the A gets X + Y
the B pays X + Y
after S years B pays A Z amount of moneyHi
when you look into vendor finance. just be very careful the potential risk.
it may turn your negative gearing propety to positive gearing property, However, if the purchaser default, or any legal issue arise it will be very painful in term of cost involved in legal, your ineterest loan payment, rate default your credit damage……….you need to find a right and suitable person to purchase not just anyone how "seems like" good purchaser.
I am also in the similar situation, but my property is in the city area so captial appreciation is there just need to wait for a while.
but in your case, you also have to think about how to help your purchaser to get out of the loan and get a proper finance..Good luck.
totally agree, totally neighbour may know already.
give them some option.
1) move back to where the boundary is
2) give them a price ask them to pay for the 3m land ( ie. buy that extra land they occupant from you )
3) share the shed that they build on your land ( you build the shed, I provide the land, everyone happy)I think if you give them choice they would probably cooperate with you more smoothly. ( neighbour is a good asset to watch out IP sometimes)
I hope this is helpful.
please let us know how you solve this later.
This thread has been commented 1000 times !!
my posting is 1001 !!!
keep commenting I would like to see where this thread will lead up to
I hope my children and my grand children… and great grand children can all see this thread still alive !!!!
we are making a history here : )
they give me many different excuses !
Computer payment system problem
Staff problem
2 signaturatory fund release problem ( the other director is oversea so can't sign off to release fund)
office relocation problem…..
List is just going on and on !It's really disgraceful !
if they tell me and be honest an upfront it's going to be delay to pay me and provide some compensation, i would happy to work with them for the payment. But i think they have internal cash management problem so many of their staff didn't get paid and left….. so tied up landlord's money……. also being dishonest and hiding from many of the landlord phone calls !!very disgraceful ! their reputation totally collapse and don't think anyone will be happy with them.
Thanks again for all the supports from you guys : )
the corporation law Terry mentioned is extremely helpful in this situation : ) thank you
Hi Kolya,
welcome to the forum.
I am not an expert or guru knowing everything about investing or property
but I am happy to share my investing experience.from my experience i found there are many great people on the forum, or through conversation you can learn a lot.
PM me : )
