The question for me is – Why are you still renting ? There are so many bargains to be had out there.  If you are still renting because you haven’t got a big enough deposit then this is not the end of the world, in fact you can get around this  in several ways. One way is looking at vendor finance options. In the past these options have been quite scary, with high interest rates and shonky sellers who dont set up the agreement correctly.  People have been burnt, and houses sold undeneath them with no legal comeback, but it should be all there in the agreement.  You really need to know exactly what you are getting into.

Check out some of the more legitimate, fully protected options.  Maybe Rent to Buy could work for you.  It is just such a great option.  You can find out all about how it works and even learn to do it yourself, so you have full control over the outcome.http://prosperitymanagement.com.au/wp-admin/post-new.php

So the trouble is in saving for a deposit it can take 3 to 4 years of real discipline, and the dilema is that the whole time you are trying not to look at real estate cause you know you can’t afford to ask for a bank loan just yet.

If the large deposit is the only thing holding you back – then consider finding out about the Vendor Finance option of ‘Rent to Buy’

The only reason I would put this to you is to demonstrate that you will be better off in the long run if you can get into a home at today’s price.  If you can make an ordinary house look great with a bit of handy work and  a good tidy up with painting, yard work etc. You might just be able to get ahead of the game and get into a property sooner than you think possible.

It is definitely worth finding out about – you only need a fraction of what it takes to buy a house up front and you get to save your deposit while you are in your home already.  It makes sense and it is worth checking out to see if you would qualify to be on a buyers list. No obligation and it is FREE to apply.  At least take a look at this as an option. You have nothing to lose and you might just be able to enjoy looking at real estate again!

Sandra Jones

Everton Park QLD

It has been such a relief to know that I can start paying off my home nowthrough getting an option with ‘Rent to BUY’.

Thanks for taking us through all the things we needed to know and what to expect. We really liked the owners so it was easy to work with them. They will manage the repayments and the credits for the house painting that we are doing. They will make sure that the bank will see that we can make the size of repayments that will service a loan.

I am amazed at justhow easy it is to get into a house without going to the banks. We found a great home that suits our budget and costs under $700 per week, part of which will come off the house – and we moved in forjust $10,000 Deposit!

I don’t think we could’ve done it any other way and are now looking at going to the bank in 2 years, after we have paid over $30,000 towards our deposit I am rapt!. Thanks Cath.

Karen and Greg

Kippa-Ring QLD

I fell for the property investor’s myth that a negatively geared place is the best thing for wealth accumulation. Well I know who was accumulating the wealth and it wasn’t me. The Banks were pocketing nearly $150 per week of my hard earned for a property that was going down in value.

I was scared to sell because the market was so slow and when I added the real estate agent & legal costs I could of lost money.

After working with you I found a buyer who was happy to pay the price I wanted and I had no agent fee’s to pay.

Now I have a very happy tenant because part of her rent is going toward her deposit and one day soon she will be able to refinance and have her name on the deeds.

I am happy because I am now making money every week on my property.

Thank you Cath. This experience has made my life as an investor so much less stressful. This has made my portfolio cash flow positive; I never would have thought it was so easy!

Steve Andersen

Ipswich QLD

There is no doubt that saving for a deposit can take 3 to 4 years of real discipline, while the frustration is in trying not to look at real estate and see all those great opportunities because you know you can’t afford to get to the bank anyway.

But seriously – can you afford the repayments on a loan? If  you can and the large deposit is the only thing holding you back – then consider finding out about the vendor finance option of ‘Rent to Buy’.  It is a form of vendor finance because the owner let’s you move in and lease the house, but takes a small deposit on the sale of the house up front. Letting you know that you have the legal right to buy the house under a terms agreement. The house is off the market and it is yours to live in until you can pay for it in full.  It is that easy. It is a try before you buy scenerio. You put a small deposit down plus start paying extra ’credits’ off the house, which all helps to get your full deposit together for when you go to the bank. 

The only reason I would put this to you is to demonstrate that you will be better off in the long run if you can get into a home at today’s price.  Even better for you if you can make an ordinary house look great with a bit of handy work, a good paint job or a fabulous garden. You might just be able to get ahead of the game and afford a property sooner than you think possible.

It is worth finding out about – you only need a fraction of what it takes to buy a house up front and you get to save your deposit while you are in living in your home already.  It really makes alot of sense to have alternatives to the huge upfront deposit. It might be worth checking out to see if you would qualify to be on a buyers wait list. No obligation and it is FREE to apply. www.renttobuy.com.au

Everyone should know what their credit history is. If you are ever considering going to the bank for a home loan and you suspect that you might just have a bad credit report best that you get one first to check it out, otherwise you could be very disappointed with the banks response to your request.  You can get a FREE credit report at Veda Advantage: http://www.mycreditfile.com.au Email:assist.au@vedaadvantage.com

However, there are solutions for you, that is if you have a job or are self- employed and you can make mortgage size repayments. I believe that the ‘Rent to Buy’ concept is a real option for anyone who has a bad credit rating but still has plenty of loan service capacity. I am showing young people every day how they can learn just how easy it is with DIY Rent to Buy.

If you want to learn to be a DIY ‘ Rent to Buy ‘ home owner. Visit us to get your FREE E-book on how it works  www.prosperitymanagement.com.au/diyrenttobuy