Hi Jamie
My bad. Should have stated that I am living (and investing) in South Africa.

Busy reading Steve M's book, and thought I would come here.

Unbelievably, I haven't found a single South African forum about property investing. So I had to come and check this site out.

And while some of the legalities regarding contracts and financing might…[Read more]

Thanks, Jamie.

I will have to speak with someone who knows who all of this applies in South Africa.

But I understand your concept.

So you would recommend going for 100% financing, and paying the shortfall for the first year or two, instead of paying deposit to make this property cash flow positive?

Hi Jamie
Thanks for replying.

I am actually from South Africa. Although I worked with a bunch of Aussies in the Walkabout bars in the UK, but that is something for another day.

I bought my primary residence, and this is still under bond (mortgage).

My aim (for now) is to invest in real estate for income. In the next few years, I might also try…[Read more]

Thanks, Ros.

So instead of looking at a second deal, rather focus on paying this one off? Even if not to the point of fully paid up, just to make myself look like a more trustworthy lender?

Some background on my decision to go for an apartment (and please feel free to jump in with some advice).

This is my first investment property. I do have a bond on my primary residence, and have a little bit of quity built up that I can access if I need to.

For my first property, I think a flatapartment would work best, as there are no…[Read more]

Thanks for your reply, Ros.

After having read your answer, I realised I probably should have given some more context to this deal specifically.

If the deal goes through, I will be able to get a 100% bond, since this is classed as a 'distressed' bank sale. The previous owner can't pay his bond anymore.

Under normal circumstances, I would only be…[Read more]