Keep us in the loop with what happens!The idea of using the inspection report to negotiate a lower price has wroked well for me. This is because you have a valid reason for asking for a lower price, rather than seeming to be greedy or opportunistic.All the best,

Hi again,There's no magic formula about how much to refinance. It comes down to your risk profile, affordability etc.Of course, whatever you buy with your refinanced capital needs to be returning more than the cost of the funds, otherwise you will be going backwards.The interest rates quoted were not based on a real loan product. They were just…[Read more]

Hey Sean,Nice to see you online.If you want to start networking with fellow kiwis, try to contact those who make posts in the Overseas Deals sections.You may also want to build up a forum identity on richmastery.co.nzAs for your plan, it seems like a solid start. My plan when starting was to retire by 9 May 2004 with 250k in passive income. The…[Read more]

Hey team,Thanks for the comments about the book. There's no doubt that property prices have moved higher since the 0 to 130 was released.  I accept that some will view it as outdated, however I continue to use the same theories to make good profits today.It is fair to say that residential +ve cashflow properties are now very hard to find. I…[Read more]

Hey Phase4,Welcome to the forum. I'm glad you enjoyed reading my book.First of all, John F. and I have different approaches to property. Not better or worse, just different.John advocates a growth focus, and then redrawing equity to buy more. Provided you buy well and have a medium to long term outlook, this can work well.When I wrote 0 to 130, my…[Read more]

Hi,Many people have asked what has happened to the Wrap Kit that I produced some years ago.At the time, it was the only resource available on how to do vendor finance sales in Aus (and in Vic in particular). Rick later put out a version that adopted and advocated a slightly different approach (and was more based on the NSW legal framework).My…[Read more]

Hi,This is a tough ask given that you are remote. Remember too that a website may generate interest, but who is going to show the person through the property, handle the contract paperwork etc.I would encourage you to use an agent rather than going solo on this one.Cheers,

Hey Blaze,Thanks for the post and welcome to the community.First, congrats on the property purchase. It is no doubt an exciting time!Your question about how to leverage to buy a second (or third etc) property is a good one, and it is a topic that all investors must address sooner or later.As far as the finance is concerned, one of the many finance…[Read more]

Hi Za,Rezoning is often a long and difficult process. Often, the better approach would be to subdivide within the existing zoning rather than seeking to have it changed.I don't know the area you speak of very well, but step one would be to call or visit the local council and ask what is involved in subdividing the site. Subdivisions in Qld are,…[Read more]

Hi guys,Sean, thanks for posting your reply. You seem to have thought through it carefully.Some further thoughts that I would like to add are:1. Are there strings attached to the deal your in-laws are offering? For instance, what if you decide to sell soon after moving in to people your in-laws don't like.2. The 100k would be enough to get into a…[Read more]

Hi James07,Thanks for making your post. Sounds like an interesting deal, and well done on your due diligence to date.Termites are always an interesting issue. Most people think a house with termites is like an investing death sentence, but really, it's just a cost to get fixed. You've done the research and have identified the problem, the next…[Read more]

Hi,I'm not sure I understand your question fully, but I'll have a go at answering it for you.First of all, if you want the interest to be deductible, then it won't be a PPOR (CGT free), but rather an investment property.Tax law requires that there be a connection with the earning of income and the expense, and the expense cannot be of a private…[Read more]

Hi,It's not clear if the unit is for domestic (i.e. a home) or investment purposes.I think you would be wise to work on a plan about how you will use this property as the platform to exchange (I didn't want to use the word trade as it sends the wrong impression) for better housing in future years.The trend today is different to that of the past.…[Read more]

Hi,To throw in a different opinion, if I was betting on the next city in Aus to experience above average growth, I'd be putting my money on Sydney.Adelaide is at the tail end of a recent boom, Queensland is experiencing a increase in prices, but when Sydney goes again, it will make both look insignificant by comparison.All in all, there is money…[Read more]

Hi,Residex has been in contact with us and advised that such a scheme would amount to a breach of copyright.I need to advise therefore, that such an idea, however practical it may seem is nonetheless illegal.Any questions about this should be made to John Lindeman of Residex on 02 9409 0333Thanks,

While I'm known as an expert in vendor finance, it has now been a number of years since I have entered into a new transaction. The information given below is according to my recollection as to how things used to be, but I wouldn't be surprised if there were changes which I am not aware of.First up, it is important to note that vendor finance is…[Read more]

Reeco,'an equity based formula in my own name'?Not sure what you mean by that.I'm glad you liked the book.All the best,

Hi,To all those who have a -ve WealthScore, clearly you have survived thus far, but the formula is telling you that you are dependent on a job for your survival.The natural course followed by many people is to use debt to buy lifestyle assets first (the biggest being the family home), and to then worry about financial independence thereafter.The…[Read more]

Hi Adventurouswealth,Let's make this the last topic under this thread and then redirect further comments to:https://www.propertyinvesting.com/forums/property-investing/general-property/4321866First, thanks for your honest feedback. The truth of investing is it's hard… very hard. Good deals rarely just happen, rather they arrive as a result of…[Read more]

Mad-dog & Nin10,Stress not!  What it probably means is that you have stored up a lot of your wealth in personal assets, and that you have debt which is not covered by investment assets.That's a good realisation if true, and something to improve upon.The reality is that most people won't get a wealth score much about 60 (two months), let alone 365…[Read more]