Forum Replies Created
Why not just put a decent offer in, that will carry more weight than your cheque that they know you have to cough up anyway.
Does it make you more genuine to give a cheque up front, no, if you are being genuine.
I think that strategy is probably better in a hot booming market like we had late last year. Hold your money and fax your offer to the agent then you don’t have to supply any funds until your offer is accepted.
Just remember to put it in writing to show you are serious.
Cheers
Leigh K[
]Carve your own path and lead the way.
Thanks everyone, much appreciated
Cheers
Leigh K[]Carve your own path and lead the way.
Why won’t the tenant leave, I am sure that this knowledge would help you find a win win solution to your problem. Sometimes we assume the worst and hope for the best in stead of looking for the best solution.
I suggest that if you haven’t already buy and listen to Steve & Daves Fast Track, they have a story on there about “Jammo” that you will find has a familiar ring to it.
Cheers
Leigh K[]Carve your own path and lead the way.
Hi Bindi
I think the reason you didn’t get a response to this one is that the question does get asked a lot.
But having said that I bought it 12 months ago and still use it today.
I would suggest that you do a search of the forum and you will find tons of info about it.
Cheers
Leigh K[]Carve your own path and lead the way.
Hybrid Discretionary Trut is only used when you are planing to buy CF+ and Neg geared properties.
Otherwise if you are only buying cf+ thn a standard family trust is all you need.
Yes most investors have a trust structure set up for asset protection and the cost varies between 1700 and 2000 this includes the set up of your company as well.
Keep in mind a trust is really only needed if you are planning on buying a lot of properties, if you are only ever going to buy one or two then don’t bother with the trust.
Also do a search of the forum and you will find tons of info about trusts.
Good luck
cheers
Leigh K[]Carve your own path and lead the way.
Just totally out of left field here …
If rich is evil and poor is virtuous … does that mean that Rebecca1 is very rich![}
]LK
Carve your own path and lead the way.
Hi Lisa72
I would suggest that you firm up your figures, because estimates can make or break a deal. So be clear first.
Then I ran your number making a couple of changes first make your term 30 years and calculate using your current interest rate because you can fix the term as long as you like and the get out on that amount if you ever need to is low.
Also ask your bank for a better loan app fee.
Cheers
Leigh K[]Carve your own path and lead the way.
Hi Folks
First my apology for leaving this thread as it is and where it is … until now … as I an not a religious person at all and therefore had no interest in the thread and had not been reading it.
I will add that I do fully respect any persons religious beliefs and have no problem sharing those beleifs with my friends along with their religious pratices, but trying to convince any person that there belief or faith is incorrect is fruitless.
Regards
Leigh K[]Carve your own path and lead the way.
Hi Leo
You don’t need a trust if you are only ever going to purchase 1 or 2 IPs or if you are only setting it up to minimise tax.
We have a trust currently with 3 properties in it and soon to have some shares in it and of course more property. It was set up for 2 reasons one to keep our investing totally seperate from ourselves which really links into number two that is to protect our investments from any action of or by others.
So trusts are good you just have to consider why you wanted to set one up.
Cheers
Leigh K[]Carve your own path and lead the way.
Hi slaurie44
Welcome to the forum.
Sorry to hear about your situation, divorce is the greatest wealth destroyer, but it doesn’t have to be the end… and you seem to understand that part already. Just don’t let your hurdles stop you now!
You are entering the market at the top of a huge property boom over the last few years so you are a little late for that, but there is another coming and youneed to be ready for it. During the time that you are bankrupt you can work towards getting into a position that the banks will listen to you. Start a savings plan, ensure you are debt free ( as you don’t need to clear all debts when going bankrupt) start learning about RE and investing.
You can also consider other types of finance such as vendor finance, personal financiers, and joint ventures.
Make it possible in your reality and you will be able to see the way to get going.
Cheers
Leigh K[]Carve your own path and lead the way.
Hi Battz
I just happen to be in this situation.
We have purchased a new PPOR where the purchase price is just over our heads but we loved the house so much (all emotional) so we submitted an offer that said we would pay full asking price with $X00k on settlement @ xx/xx/04 and $35k on xx/xx/05 at x.xx% (currently 1 year fixed rate with NAB)
The vendors solicitor is redoing the contract so the vendor will carry a second mortgage and the bank will provide finance for the rest less the cash deposit we are also putting in.
The bank was fine with it as our LVR was even better and the vendor was fine with it, although the agent was very proactive in making sure that the vendor understood the offer and added there strong recommendation. We had discussed this prospect with the agent prior to submitting the offer to sound them out, gave them the full true of th ematter and they were great in halping it happen.
Hope that helps.
Cheer
Leigh K[]Investment unit for sale – includes a rental guarentee.
Hi Yack
Thanks for that intensive review. Would you mind putting it in the book review thread located in teh Heads Up forum board so it doesn’t get lost.
Cheers
leigh K[]Investment unit for sale – includes a rental guarentee.
Very cute Del,[^]
At least give the guy a country to start looking in!
Cheers
Leigh K[]Investment unit for sale – includes a rental guarentee.
Yack
Thanks for the very interesting insight it certainly does make it easier to understand your position on seminars knowing your background. I am also sure that others will appreciate your posts more knowing your experience.
Cheers
Leigh K[]Investment unit for sale – includes a rental guarentee.
Dear Stingy[:p]
You a doing yourself a huge injustice by not buying this “E” book (not available in a library) it is a fabulous resource that I am still using 12 months later. Plus at the moment I think you get a huge bonus of tapes with it – I didn’t get that!
Also if you are going to avoid paying for something don’t advertise on the sellers website for it!
Cheers
Leigh K[]Investment unit for sale – includes a rental guarentee.
Bassla
I read Steve’s Wealth Guardian first and was delighted that it explained trusts in a very simple way, then I read Trust Magic and feel this is a bible of trusts but still think Wealth G is needed if you have no understanding of trusts.
Cheers
Leigh K[]Investment unit for sale – includes a rental guarentee.
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