Week 4 - Structuring your deal to maximize profits/zero money down

1. If you’ve never done property trading before & don’t currently own any property, how many companies should you look at setting up?
1
0
3
2
2. Which is the preferred option if you are only 80% sure that the deal will turn a profit?
JV money partner
Your own money
Don't do the deal at all
Friends & Families money
3. The more ___ , the easier it is to sell
New
Access
Stylish
Standard
4. What is the preferred option when structuring your deal?
On sell/Contemporaneous Settlement
Settle Yourself
JV Money Partner
Using Finance
5. For due diligence which option below would favour the purchaser the most?
0 working days
15 working days
30 days
30 working days
6. Where is the money made?
In big cities
When you renovate well
When you buy
Where you find the highest bidder
7. What is the quickest way to make an extra $5k – $25k on a property you already have under contract?
By on selling
Asking the vendor for a price reduction
Renovating the property
Getting early access
8. What's the best way to determine the market value of a property?
Asking 3 different real estate agents
Asking the listing agent
Looking at the CV of the property
Asking the vendor
9. What is not a benefit of contemporaneous settlement?
1 x S&P agreement
There is no finance cost involved
Buyer doesn’t see original contract
It’s quickest method to sell a property
10. When do you need to ask the vendor for an extension before calling the contract unconditional?
When you haven’t found a buyer yet
When you haven’t arranged finance yet
When you JV money partner hasn’t arrange finance yet
All of the above
11. A zero money down deal works best when you still have some money for what?
A deposit for the vendor
Renovations
Lunch
All of the above
12. You need to give what to your JV money partner before they take on the deal?
Money
Proposal
Lunch
All of the above
13. If you want a bigger profit split what must you do?
Contribute to the finance cost
Contribute to the renovation cost
Ask your JV money partner
Pay for the entire deposit
14. By doing what can you always ensure to stick within or below your budget?
Be conservative on your forecast
Getting at least 3 quotes for each job needed
By using the renovation & structure budget tool
All of the above
15. A second tier lender is more likely to lend on what?
Your purchase price
Your purchase price less GST
The valuation price
The valuation price less gst
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