Just finished a four day due diligence tour of a regional Aust town of over 20,000 people. We signed contracts on residential properties with sitting tenants yielding around 9% eg $67,000 rented at $120p/w, $68,000 at $120p/w, $83,000 at $140p/w with more of our offers being excepted today (not signed). Some have been presented to us which are about to come on the market due to older people moving to retirement village these are around $105,000 with expected rental of $170p/w. We have over extended a bit and will not be able to take all of them up. Is anyone interested in taking over a contract at a 10% of purchase cost finders fee plus costs if any? The contracts are with 14 day finance, subject to satisfactory builders report clauses and 45 day settlement (around 6th April).
email me if interested.
cheers.
Your finders fee of $10k ($105000*10%), then turns a positive cash flow property into a negative geared property. I have trouble finding a tenant in a great 3 bedroom townhouse in Sth Frankston for $160 a week. I dont need the hassle of a rural tenant for $170 per week.
Good Luck.
This is not for me.
The mentioned 10% finders fee is rather high, considering normal commissions. Perhaps someone with money and no time may be interested, but I’m sure you may have more takers/nibblers with a lower commission.
Finding fees of 10% is a bit (lot) of a rip-off.
Warm Regards
ChanDollars
[Keep going, you’re on your way to financial freedom][
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But good luck..
REDWING“Money is a currency, like electricity and it requires momentum to make it Effective”
I’m with the other forumites – 10% is way over the mark. Others here offer excellent services for a lot less than that – and they are established personalities on the site.[8D]
Castle Dreamer
(You’ll never go wrong if you never go anywhere – have a go!”
[?] Sorry all my fee was suppose to be 1% eg around $680.
I am not into being a ripoff. Just trying to cover my petrol, accomodation for three nights and a little food.
Cheers.
then it’s a good deal spodge
hope you find someone for it1% is good deal, but did u have permission to put that add up?
Regards Bear
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DONT MISS OUT!!!!!No permission. Did not think it was an ad.
It is not a business I have selling deals it is just that I got one or two to many acceptances on offers and thought I could pass one or two off and recoup my travel costs. I probably could afford them all but I want to leave a litle as back up and to put towards another possible better deal.Cheers.
Gotta love those keyboard buttons that sneak in extra keystrokes don’t ya?!![
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Thanks for updating us – 1% sounds a lot healthier!!
Good luck with your purchases, and with birdogging your finds.
Cheers
LisaR[]Castle Dreamer
(You’ll never go wrong if you never go anywhere – have a go!”
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