latest news !found a really good mortgage broker through a selling agent,after three hours at the bank trying to get the deal right ,and only limited success and vague promises ……..he was able to make it happen  WITH THE SAME BANK !armed with this we asked for a 5% deposit  on the day of auction 'no definately not, i will ask the au…[Read more]

i was at a property seminar that got hijacked by a guest speaker…. who in the course of his discussion on how to buy a million properties on your credit card using shareswas asked about land taxhis response was pretty dismissive ,but contained an element that interested meoh you never buy them ALL in your name !you allocate 99% of the property…[Read more]

just re read that and what i am really trying to say is (in my recent experiences )they will deduct a monthly payment that services the maximum amount of the loaneven if you have not drawn it down…..ring first and brace yerself for the explanation…….cheers

ring your bank and check first  ! i have deposited lump sums twice to find that…. i no longer had access to the money ( first time )which was a major hassle to undoand more recently despite my broker saying different  putting 30 grand into a loan account ( i o like yours ) did not reduce my monthly repayments ( and will not ,so why did i split m…[Read more]

what rmitchell saidif you are even remotely self employed,or have a second job, or an abn nohave a look at leasing , the depreciation is worked into your monthly payment and can be (in my case anyway ) 100% tax deductablemy observations are a used car usually requires a deposit ( like 1/3 ) where as a new car only needs your first months…[Read more]

yeah ! it must go hard with age !thought i was a genius deciding on a picture railnow i am just nervous…..thanks

any thing is negotiablehowever the real estate agent involved usually banks the deposit in their trust account and takes commission from that amount , so they like to see a suitable amount to cover all that hard worki wrote an offer on saturday and could SEE the panic set in when i said i wanted to finance  100%,so in the intrests of having it…[Read more]

find out exactly how much you can borrow to the nearest dollar ,take all the paper work with you and show that that is the maximum you can afford and make that your offer,you may be surprised !i have a friend who bought the house he had been living in for many years for way under market value , all the owner really wanted was enough to buy a unit…[Read more]

im thinking the tennants deserve to pay market rental which may or may not be linked to your interest ratesif you want more for the same premises during a lease period you may have to consider giving them some thingfridges, cable tv,and high speed internet spring to mindafter running a business during the eighties and paying 18 to 25 %i fix my…[Read more]

offer to take a car boat or jetski as part payment ,on say 298k accept the buyers claim that his or her 15 year old bmw is worth twenty grandtake it straight to the auctions and get seven for itbut you have helped them get over the deposit barrier (and pumped up the price to cover your loss )assuming no one is too greedy the flat should still…[Read more]

i hate to quote kiosaki on a mcknight website but………one deal wont make you rich ,its a system of doing dealsso if you have to move house, and state to get the deal going every time its not really a good systemand you will miss your friendsunless you are moving closer to family or friends ,or getting a massive payrise or valuable experience…[Read more]

read the water damage clause carefully if you do go terry scheer,i had a shower pipe burst inside the bricks and fill up the cavity……now days i use a broker to chase the best deal as they have the finger on the pulse .and when things go wrong my guy who spends millions a year has a lot more pull than  a two property investor cheers

latest update !my friend sold for about 100k above market value,most of the adjoining houses are suddenly very run down ( no longer have tennants) and were sold in one lump to the developer .my friend has no interest in sitting on the porch with a shot gun hoping for the million dollar offer as he is too busy and would rather buy a house nearby…[Read more]

looks like you did good,a massive deposit helps make things more positive .(but no one seems to mention that here )but i am assuming you are aware of the tax benefits of making a small affordable loss and did a few sums before hand.so it probably wont double in value over night ,if you wanted that you would have bought shares (not last night !…[Read more]

i have flown to perth a couple of times to paint and recarpet flats i buy everything i need at "global warmers "and give the tools to my mum after…if i did the sums it would probably be smarter to work that many hours and send the money but i get a lot of time off from workafter working in fiji and looking at a number of construction jobs there…[Read more]

if we run out of oil we will be so stuffed that another 250 k of debt wont change your life , i expect it  will be a long drawn out process with regular  price hikes rather than  a sudden stop .i was worried about this and decided to purchase  more centrally so as not to NEED transport ,( ok  i know we all  need stuff transported ,but i can walk…[Read more]

do your sums ,a few weeks vacant every year may be more than the hit you take on a long term tennant who pays every week , i go for growth so tennants who are happy to stay put suit me fine .i know its not what you see in books but the reality for me is changing tennants regularly is a hassle an always costs somethingcheers and good luck

sorry should check in after running my mouth off !if you havent read up on this in the mean time  it is a bit like steves wrap strategy where you agree to finance part of the property  yourself (as a second mortgage )your target customer is some one who feels they can afford more property than the lenders allow or lacks a deposit for whatever r…[Read more]

we are  "stalking " several houses in our area and would be horrified to discover one had sold without us finding out !i am not sure why but a friend had his house " quietly listed "he had bought it for cheap and lived there a year or so before selling, it needed a total reno, as he was moving out a friendly neighbor  from the town houses up the s…[Read more]

thanks guys