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From: Mike .
Novice question (Owen..? / Les..?)
From: Curious Onlooker
Date: 22 Oct 2000
Time: 21:53:50
Ok, let's say I put my deposit on the table, and voila, I have an IP (let's even say already tenanted)
What I don't understand as yet, and please forgive my ignorance of the basics, how do I/you then move into the next IP, when cash is tied up with the first buy/deposit?
Ahhh, I hear some people saying .. what you do is 'flip', or on-sell to another party ..
But how do you go about securing the original property at a less than market price, while locating the future owner, so as not to be left holding the property?
Wouldn't deposit bonds put you in the same position, of having cash effectively tied up, pending re-sale,
and,
I read about 'escape clauses' in contracts, and wrap contracts, but what if you wouldn't know one (original contract/variations) if you tripped over it?
Another question.....
With a 5Y IO loan, is the principal payable at the end of the term?
I've read "somewhere" that at the end of the initial 5Y period, another 5Y IO term can be applied to the loan -- is this the case, with the new interest rates applying?
Thanks for your time ...CO
Novice question (Owen..? / Les..?)
From: Curious Onlooker
Date: 22 Oct 2000
Time: 21:53:50
Ok, let's say I put my deposit on the table, and voila, I have an IP (let's even say already tenanted)
What I don't understand as yet, and please forgive my ignorance of the basics, how do I/you then move into the next IP, when cash is tied up with the first buy/deposit?
Ahhh, I hear some people saying .. what you do is 'flip', or on-sell to another party ..
But how do you go about securing the original property at a less than market price, while locating the future owner, so as not to be left holding the property?
Wouldn't deposit bonds put you in the same position, of having cash effectively tied up, pending re-sale,
and,
I read about 'escape clauses' in contracts, and wrap contracts, but what if you wouldn't know one (original contract/variations) if you tripped over it?
Another question.....
With a 5Y IO loan, is the principal payable at the end of the term?
I've read "somewhere" that at the end of the initial 5Y period, another 5Y IO term can be applied to the loan -- is this the case, with the new interest rates applying?
Thanks for your time ...CO
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