Pusstes
The advocate you mentioned, can you give me a guide as to their fees. It might be handy if your interstate and not sure where to look,

Trish

Thanks Richmond .. I’m hoping to do it this week
Trish

Thanks Westan you/ve given me some very useful info.

Thanks heaps Trish
Sorry to take so long to thank you , I forgot this post

Nessie

You said if the 11 sec method doesnt work you have other fall back things you do ,
I hope I’m not being too presumptuous by asking what some of those other things may be.
I’ve yet to buy my 1 st IP so I’m learning heaps from all the posts, so much to learn

Trish

MiniMogul
Thanks for you info.

If I read you right, you’ll give them a 4-5% deposit when contracts are exchanged after doing your due dilligence, you may borrow the 80% from a lender and you may have the other 15% cash or invested ready to pay at settlement.
Is that a plausible senario

Trish

Rishmond
I did’nt mean the holding deposit.I was actually asking about the 10% deposit. I was reading that you can get away with only paying 5% deposit and the remaining 95% on settlement.

Trish

Richmond

Is $500 the only amount you pay till final settlement, Can I ask what value property you can do that amount with.

Trish

Thanks slick41 an bc

I do plan to buy Steves book but I’m a bit af a slow reader, and I keep getting side-tracked by the forum.

bc, I get the impression by the price that you bought in the country areas , do you think r/est agents in bigger regional areas wuld be so obliging.

Trish

Terryw

Thanks for your answer. They are different to Tennant in common contracts cause you have to stipulate the breakup percentage, is that right whereas trust guess you can see how the year has gone and distribute any money according to you incomes.
Are trusts espensive to set up

Ta for your help
Trish

Thanks guys for your replies. I just got home from work and had to jump on the net to see my replies. Really appreciate your response

Can I ask another question of you- do you do your checks from internet or newspapers or elsewhere or can you ring real estate agents and ask whatdevelopment is going on in the area

Thank heaps

Trish[]

Terryw

Had a look at th sight, theres some interesting deductions to keep in mind.

Can you clarify the advantage of setting up an IP in a trust
Trish

Deckartjazz
Thanks for your help.It gives me somewhere to start

Chris

If you borrow 80K and have 20% equity in your other property,how do you pay the initial 1o% deposit.
Can the lender give you a deposit bond or how does it work.
Are they in effect loaning you the full 100K
As you can see I’m very inexperienced and have lots still to learn.I try to spend 1-2 hrs nightly reading the forum if and when I can…[Read more]

Chris

If you borrow 80K and have 20% equity in your other property,how do you pay the initial 1o% deposit.
Can the lender give you a deposit bond or how does it work.
Are they in effect loaning you the full 100K
As you can see I’m very inexperienced and have lots still to learn.I try to spend 1-2 hrs nightly reading the forum if and when I can…[Read more]

Stu
I,m new to this game, can I ask, when you evaluate a property initially do you use the 11 second rule , you say if the figures add up -go for it.
Do you mean the figures Investron mentioned and then hopefully end up with a +ve figure or do hope for a certain yield

.trish