Does it work in Australia? I don’t see why it wouldn’t. - Posted by Ben (IN)
Posted by Ben (IN) on April 19, 2000 at 02:15:29:
I’m an Aussie living in Indiana. I’ve lived in Sydney, Brisbane, L.A., and Bloomington, Indiana. What I can tell you is that the same conditions exist in Australia as the U.S. that make this kind of Creative R/E investing possible. We both have legal systems derived from British Common Law. We both have private ownership, mortgages, people who work in jobs to pay those mortgages, and negative and adverse situations that happen to them that create motivated sellers. People in Australia get divorced, they lose their jobs, they get transferred, they die, they abandon houses, they try to sell them and can’t, just like they do here in the U.S… Once you know this stuff, all it really is is solving motivated sellers’ problems with your knowledge of financing. Full stop! And I hazard a guess there are plenty of good income earners in Australia unable to qualify for a bank loan who would jump at buying a nice house on a lease-option.
So for an Aussie wanting to get into R/E investing in oz, bone up on your creative R/E knowledge by buying some of the great courses here (I learned most of what I know from what I’ve bought here), and then run an ad or some other marketing to get sellers to call you and start talking to them, deciphering their problems, and making offers. That’s it! Just get started. I’m sure the biggest obstacles are in your mind. Once you get through a few deals it gets a lot easier.