Hello.
Firstly thank you for this website helping so may people and sorry for my english. Still learning.
well I am just new and I am the kind of person with time but not money so, could you help me with this question?
I being searching for deals but :
-Once I find a kind of deal I think is good. Who I can contact? where I can find the people looking for that possible deal I found? to see if they like it?
-What is next if I found a good deal?
-How much information do I have to give (Well If it is a good deal would like something in return).
Thanks for any help.
Gladys, are you wanting to pass these deals on to others for a fee?
Tools
Gladys
Firstly welcome to the Forum and Happy New year.
I am unsure as to what State you are in but just make sure that you comply with State legislation when it comes to receiving a fee for a deal and whether you need to be licensed to do so.
Richard Taylor | Australia's leading private lender
Hi GladysWeber,
Welcome to the forum.
"Have I found a good deal?" is a question that every property investor ought to ask! Sadly, many take the advice about what other people think is a good deal, and wind up with a lemon. I wonder how many people are sitting on a marginal deal while stories of fortunes being made happen around them.
To answer your questions:
1. A deal is a good one if it makes your required identified profit within your assessed risk parameters.
The four key questions to ask and calculate are: how much money down; how much money back; how much time until you get paid; how much risk. It's important to protect against greed. Be happy to make your profit within your time frame rather than looking to strike gold and become rich over night!2. As for people whom you can contact… your accountant would be a good place to start. S/he can check your numbers and help you to identify key assumptions. Mortgage brokers and bankers are also a good resource, as they will help you assess the deal from a lending perspective. A solicitor will help you with legal uncertainties. The local council will assist with planning issues (and if not them then a town planner). You would be very wise to get a building and pest inspection orgainsed. Finally, if you find an agent from a rival firm that you trust, ask him/her what you should look out for in the deal.
3. If your research leads you to believe you have found a great deal, then you will want to make an offer. The agent selling the property will be able to help you with what to do next, but as you seem to be starting out, don't sign or do anything without being guided by a solicitor or legal adviser first.
4. After you have signed a contract to purchase the property, you will need to leave a deposit (usually 10%, but less is best if you can negotiate it). Your solicitor will then help you with the legal paperwork (conveyancing) during the settlement period. You will need to organise or confirm any loan you may need so that the proceeds are available on the day of settlement.
Finally, if you are keen to take your investing to a higher level, and feel like getting personal mentoring from an experienced property coach (who can help you assess the deals you find) would help, check out: http://www.propertyinvesting.com/results
Cheers,
Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hello and thank your for all the help. I am so happy I can count with some support and thank to Steve for the nice answer to my question. It will help me alot.
I was looking at a unit in a complex but is a body Corp and management fees to pay I didn't know they where there to pay, so for that reason I think is not a good deals any more I will have to look for a different one (I am so new with all this).
Well I would like to be prepared for when I find something that looks like a good deal, so with the answers I got for know i will start looking more carefully and I will need more help soon or later.
Thank you again and bye for now.
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