Does anyone here know their options ?

Could I put an option on a property that comes with the house itself plus other titles, rent out the house and also put one of the titles in with a new RE up for sale day one.

Thinking I may be able to sell off one title, I was thinking on V/Terms to cover repayments and it's easy to sell quickly on V/T. But if I was to sell it cash instead, put that money back into the deal, I'd close , with change .
Although I'm not crazy about the idea, it would be doable if an option gives me that authority!

Cheers
 
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It looks like I'm about to do a crash course.

I just scored Mark Roltons free CD on using property options in Australia .

Probably just all spin but I will let you know if it's any good.

Cheers
 
Please keep in mind that you can come up with all the fancy plans in the world, BUT (and it is a biggie) you will actually have to get a vendor to agree with them. So don't forget to look at everything from the position of the seller and make sure that the deal is attractive to them as well as to you, or you are probably wasting your time.
Marg
 
Hi ya Blaster.

Marg is right,

this market (generically) may not be scolding, but it ain't cool or tepid either unless you're in super-blue chip areas......and even some of those are now moving. If this is in FHB price ranges or up-graders less than 1 mill, good luck pulling this off.

For the sake of brevity, I won't replicate, however I posted here:

http://www.somersoft.com/forums/showpost.php?p=561540&postcount=6

That's what I understand of options, however with your situation to achieve your desired result, you will need to convince the vendor to your "terms".

To achieve this you usually need to jack up the price you offer and convince them that they win in that regard. Be diligent with your maths.

Unless the property is very stale and the vendor is in no hurry to settle and ergo price is their prime objective or it is in a regional fringe, if it is a run of the mill type house with the extra land/titles, good luck moving forward with this strategy in this market.

Also ensure your diligence is up to speed as to what can be achieved by you (or others you might potentially onsell to as an exit straegy). Leave enough meat on the bone for any development.
 
Hi ya Blaster.

Marg is right,

this market (generically) may not be scolding, but it ain't cool or tepid either unless you're in super-blue chip areas......and even some of those are now moving. If this is in FHB price ranges or up-graders less than 1 mill, good luck pulling this off.

For the sake of brevity, I won't replicate, however I posted here:

http://www.somersoft.com/forums/showpost.php?p=561540&postcount=6

That's what I understand of options, however with your situation to achieve your desired result, you will need to convince the vendor to your "terms".

To achieve this you usually need to jack up the price you offer and convince them that they win in that regard. Be diligent with your maths.

Unless the property is very stale and the vendor is in no hurry to settle and ergo price is their prime objective or it is in a regional fringe, if it is a run of the mill type house with the extra land/titles, good luck moving forward with this strategy in this market.

Also ensure your diligence is up to speed as to what can be achieved by you (or others you might potentially onsell to as an exit straegy). Leave enough meat on the bone for any development.


G'day Player how're you doen.

Thanks for the tips and links .
The location is running hot and hotter, new industry and very independently of whatever else will be happening with the rest of the country, home grants and the like. I know it very well, I've been involved with it for a few years now, shaping up very nicely.
I did run some dummy ads to though to be safe, a little trick of mine. Plenty of takers in only 5 days but even without, I would have every confidence knowing whats going on.
Myself playing with options though, I'm feeling much more uncomfortable with to be honest, especially after reading more . Those types of things in all honesty have never really been my thing.
I do want the deal even though it will be put straight onto the back burner, a few others to work through first, but the back burner will only ad to this situation anyway and is actually the smartest move.
But , I do think I'll see what else I can come with in snaring the place or maybe even settle for a 50% buy instead which I could do right now and make the most of that.
Very keen sellers.

Cheers
 
blaster a few of us here know how to do options and it sounds like it could be what you need however, please have a read of this thread:
http://www.somersoft.com/forums/showthread.php?t=53611

Thanks again Property, and Marg.
After reading more there are a few hitches and then there's my own bad experience with a similar type of agreement a few years back , I think I've mentioned it in the forum somewhere.
Since then I find what I really like is owning the place and having no need in explaining myself to any B'd to be honest. As I was saying to Player , reading more in the links and net today, I think I'll work something else out on this.
The other thing is as you guys have reminded me , an option is going to need to have something in it for the seller but truly, I'd be over committing myself in saucing it up with a higher price .

Cheers
 
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