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Thanks everyone! Good advice. For the record, yeah I did have a good amount saved, but … tax bill … plus travel to see ill father … plus not managing my money correctly … equals about $8k left in the bank. Oh well, you live and learn. Good advice about getting my finances in order FIRST! Thanks again
If the agent will write it up at 450 do that.
Question: If you want to put in a written offer, can the agent say no because he’s not happy with the price? Can you not just present the written offer to the agent (he finds out your offer when he looks at it, because you’ve already told him you won’t disclose it verbally) and if he doesn’t like it, is he still not legally obligated to present it to the vendor? Regardless of his own opinion.
After spending close to $10k, all up, on seminars … I still haven’t bought my first IP. After the last “bootcamp” I went to (CCorp, cost $6k … and the lunch was RUBBISH!! I know you dont go there for the lunch but some sustainable brain food wouldve been appreciated. Not tiny crusty sandwiches for 3 days.) well after that, I have finally come to my senses and realised my foolishness. Now I just take all the free info I can get. I won’t be spending another $ on any seminars or consultations or so called one-on-one mentoring. I gotta find a way to make it work with the knowledge I’ve gained so far.
They must rake in the money from those seminars. The CCorp bootcamp costing $6k, had to have had 250-300 people attending. Such a rip off! To think you can become a property developer after 3 days training … I feel quite foolish that I believed it.
Hi Richard,
“John and when you have found one vendor find a lender who will accept it in the current climate.”
I’m not quite sure what you mean by the above statement. Could you explain abit more please? Are you familiar with what the finance John is talking about? Is it referred to as vendor finance? Or is that what a rent-to-buy is? You think it cant work? I’ve heard others mention it and I’m interested in it also but have queried it with a couple of real estate agents and both have given negative responses.
Is there anyone out there that has ever made this work? Gotten a vendor to leave 20% equity in the house?
Hi Paul
It appears you are The Man
when it comes to VF's and L/O's. Im looking to purchase my ppor through vf. Would you mind giving me a few tips on what to look for (regarding terms and conditions) and also what to be weary of and any potential pitfalls. Appreciate any help you can offer.
OH NO!! NO NO NO NO! I'm new to property investing but even I can see that's so wrong. The guy is ripping you off. Everything he's talking about, you can do yourself. Yes it will take time and if anything you'd be better off going to a reno kings workshop or something to get yourself educated. It'd be a hell of alot cheaper than forking out a $45k fee. That's just rubbish. Happy house hunting.
Dear Qlds007
Could you possibly run through the scenario for Don in regards to a second mortgage.
If you could just roughly run through what a second mortgage will do for him.
Sorry I know this is probably really obvious to you and others but I’m pretty “green” and still trying to learn basic stuff.
Appreciate your time.
Vivy
Ok folks…Im trying to make heads an tails of all this as I’m a newbie but this is my situation.I’m from NZ but moved to Oz (Melbourne) a month ago. Before I left NZ my mother and my niece set up an LAQC of which I was meant to be a part of but the lawyer advised against my being a director or shareholder because he felt that as an Australian Resident being a director could make the NZ companys holdings liable to Australian CGT.
My mum, niece and myself joined forces as my niece is a high income earner, my mother owns a property near the beach (which she has sold to the LAQC) and I do all the property investing research.
Both my mother and niece are NZ residents, my niece is sole director but both are shareholders owning equals shares in the LAQC.I moved to Melbourne for personal reasons and wish to start investing in property here.
Can someone suggest some structural ways for me to enter into the family LAQC as a shareholder and director?
Are the holdings of a NZ company liable for Australian CGT if a director and shareholder of the NZ company resides in Australia?Dr X says:
Trustee company with us as directors
NZ-based trust.… could you explain this abit more please … I do agree with Dr X that you dont have to set it up one way just because thats the advice you are given
APPRECIATE ANY PROMPT REPLYS FOLKS – thanks
when it comes to VF's and L/O's. 
