Hey guys!
There are other factors we need to look at than just what the media puts up as truth.
That house in St Clair for starters needed a big re hab.The $40 K estimated by the agent may well blow out as we havent seen the inside.

Also I was speaking to a friend of mine who has lived in the area for 7 years.His opinion is it has changed alot since then.He says he is moving out soon as the crime has got pretty bad in the area recently.There are gangs of kids roaming the streets in his opinion.
Whether this is true or not we just need to be careful listening to reports from the media and taking that as truth for what the property market is doing just from 2 examples. This is the stuff that changes the market as people listen to what they hear on the news etc and act accordingly as if it was gospel.

We’ve got 70 yrs on planet earth,Lets make the most of every day!

Definately i would say ask the other partner to lend it to u.
Tell them to charge u a high interest rate (say 18%)short term to make it worth while for them.Otherwise u r losing a heck of a lot more.
or ask yr parents ! Or can u sell something?Like yr car and downsize?

We’ve got 70 yrs on planet earth,Lets make the most of every day!

Hey guys!
Isnt yr dream to be a property developer passionate one?
Having one business is quite manageable and can actually become easy and boring after a while .
Just be careful as this can be a time when people make mistakes.

Us humans tend to get bored after a while with our business after its ticking over succesfully , and we want to try something else.(often a different field of business altogether)
It sounds like u know what u are doing though in a fish and chip shop and have heaps of experience so thats great!

I guess what i am getting at is to stick with yr dreams and what u r good at.
I made this mistake once when i had a passive property portfolio and a good business but it got boring after a while and i started taking it a little bit for granted.
Then i jumped in and started another business . All of a sudden I had to come out of semi-retirement and battle with looking after the running of another business and everything that goes along with employing people(ie.making sure people turn up,do their job,look after clients ,dont rip u off , etc etc.)
I am not trying to be negative Giulio just remimding u what its like running 2 business’s at once.
Is it a possibility u could use yr time to do some property deals that dont take as much of yr time and energy?
Just a thought to consider.
All the best
Luke

We’ve got 70 yrs on planet earth,Lets make the most of every day!

Previous members post deleted

We’ve got 70 yrs on planet earth,Lets make the most of every day!

Gross has got some big vision in the deals he takes on and often wins . Dont put him down as alot of us appreciate learning from him.
all the best
luke

We’ve got 70 yrs on planet earth,Lets make the most of every day!

You have nothing to feel bad about George.
It appears that u are the partner with the Integrity.
Definately let the solicitors deal with it.People like this guy you dealt with, need to learn a lesson about life and business.Its not always the best thing just to file papers to sue,and consider yrself the only victim.
It sounds like u would have even covered half the loss even after he “fire sale’d it”. Pretty generous in my book.

Stand strong man,and dont take it personally.It was his choice to resolve it this way .

Let us know how it goes

all the best
Luke

We’ve got 70 yrs on planet earth,Lets make the most of every day!

Hey Chad!
Thanks for yr advice man!
Glad yr tour went well.
all the best
Luke

We’ve got 70 yrs on planet earth,Lets make the most of every day!

Thanks for the info Ben.
I have got 2 loans for under 50K already.
The problem has been the up front fees!

Have you done loans to aussies for under 50K?
If so,is it possible to share which lenders they were and how long ago they were put through and settled.

Thanks again Ben!

We’ve got 70 yrs on planet earth,Lets make the most of every day!

Hey there freeman ,
no probs man!
Houston in Texas is pretty huge and is high up on the expected growth chart for the next couple of years!
It also has some great investor clubs (eg the rich club) that meet and investors can help each other and learn and grow.

There are so many more strategys and options for investing in the USA. Incuding many opportunitys to buy under market value.

To learn more of the strategys etc and make contact with alot of very savvy guys who are currently doing it in the states go to this forum ;

http://www.houstoninvestorforum.com

then look at this for some strategys/legalities;

http://www.legalwiz.com/articles.htm

Get on the forums over there and keep reading and learning .There are also wholesale and short sales and subject-tos etc etc to be found through these guys.

Just make sure u do full DD checks before making yr next move.

You may even decide to do yr research and go to other areas of texas.Most areas are high on the expected CG projections for the next few years.
I personally have had great help in getting setup in San antonio.I like SA because it is smaller than Houston and it just feels to me like it will expand quicker because its so much smaller than houston (but just my preference)

All the best mate.
Luke

We’ve got 70 yrs on planet earth,Lets make the most of every day!

Hey Rayson,are we missing something?
How are u paying $875 per week interest out of $960 income total?
How do u pay for rates,repairs, etc and food for yr family etc,now lettlone later with a baby?
I would down size the PPOR definately ,even rent something at a cost less than interest payments would be.
To me all that constant pressure would not be worth it!
Maybe u have other income?
Sorry,just re read yr post.
I see ur wife is still currently working bringing in an income most of the time which allows u to cover yr current mortgages.

I would do the figures on what it will cost to live with the 50K and the extra costs of having the baby.Then reduce it where u can,eg you may have an IP that is not growing in CG and is cashflow negative (even slightly).Work out yr figures if u didnt have this property.

We’ve got 70 yrs on planet earth,Lets make the most of every day!