Far out! That is wrong!!

No wonder your not happy!!

I would consider calling the department of fair trading and tax department.

That is unbelievable Matt!

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

Hey Lou lou2
I havent got the wealth gaurdian series but from memory they teach to invest for capitol growth

On the other hand most of steves focus (masterclass) is on positive cash flow first,fixing problems in a deal /property and then lastly capitol growth if it comes.

So the wealth gaurdian series will be teaching a whole different strategy.
But it is always good to learn different strategies as long as you dont get too confused.
If you are already booked for masterclass maybe go to that first and then make yr decision

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

Hey there giddo,
I would say for me this deal sounds like too high a risk for the return.
Unless you are confident of high capitol growth and could get more cashflow from them somehow.
Possibly manage them yrself to holidayers
or
give one unit to someone rent free in exchange for managing the other 5 to holiday makers for premium rents.
I would suggest maybe spread the risk over a few smaller investments till you grow in investing confidence and knowledge.
At 6.1% (net)return that possibly wont cover the costs even after tax depreciation

Dematio

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

Hey Noysee,
these deals are called”subject to” deals in the states.

This is when a vendor wants to get out of the house and mortgage(either due to job transfer or cant keep up the mortgage payments) but doesnt want to get a bad credit rating by letting it go to forclosure. / or it is a Quick and easy way to sell fast without agents etc

So they offer to sell there house for either just the monthly mortgage payments or /& a small fee to help them re locate.
Then the property title goes fully clear into the buyers name and all the buyer has to do is ensure the vendors mortgage is payed untill it is payed off(or out)

These can be great deals as it saves the buyer having to pay (in the states) at least $3500+ in mortgage set up costs.
Also you can get into deals with very little money down and without the hassle of having to provide serviceability etc to lenders.

Dematio

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

Great work Gamay!

It sounds like you are resolving it by being firm but gracious.

Some of these situations in life are an oportunity to show grace to others.
It is nice to hear that not all these situations come about through victim mindsetted people,
some tenants are understanding to us landlords!

All the best
Dematio.

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

I am finding it delaying to bring up posts too! But seems to be improving.
I think its like anything new,we humans dont always like change.It scares us.

I think also though,
that having the results forum as the first thing that comes up is slowing down the sites traffic as a lot of new computer users can dismiss a “access denied wrong way go back” sign as ” oh I musnt be able to view the forum unless Im a member.”and they leave the sight. I think a note to scroll down would help newbies.

i love the sight and still enjoy it, most days!
Dematio

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

Hello Justinsmum,
great to hear you are gathering confidence to buy yr own property.
You go for it!
There are many ways you can do it.One of those is vendor finance or”wrap around finance”.This is what those adds usually refer to.These are ok if the terms are fair for both partys and you have a good solicitor on board with yr interests at heart.
You could do a search on this forum under “wraps” and you will find lots of info to learn about it.
Just keep in mind though that it may not be out of the Question for you to get a loan through a broker or a bank which is usually at a better rate and terms.
All the best
Dematio

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

Invest in a large Baseball Bat would be my advice.

No only kiddin,
but this shore does get frustrating.

Hope it works out for you cute girly.

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

Hey JJ &Jo,
I have been researching the same thing.

I have spoken to Cameron Perry(do a search on this forum for more info,and here is his number 03 96621999),He seems like a really honest guy.
Regards
Dematio

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

Hello Docbue,
I am interested to ask you,
Does it concern you having so much debt on one particular property?
What if you have a couple of propertys vacant at once?
The 565K and a 480K props you are mentioning are individual houses?

Dematio

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