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Oh thanks, a few people referred me to BMT, and their discounted fee was $1500 plus GST for 3 properties. I almost got them to go ahead and do it.
Two of the properties are identical town houses next to each other. They insisted that I get separate ones, as the furnishings might be different. I would have thought the major component (the building) could be covered under one report. The internals were pretty much identical, as I haven't spent much other than the odd water heater on internals.
this forum has just saved me at least $900.
I agree with thecrest.
Not saying anything more on this thread, but sometimes does amaze me, what some people try to save on.There was one man I know, who tried saving money by painting the house himself.
No safety or scaffolding, fell down 2 storeys and has been an invalid ever since.Don't think you need a million to travel the world. You could buy an island for less than that, and a nice yacht.
My first Round the World trip costed under $20k all up.
My 2nd RTW trip was around $12k all up.I ain't no millionaire yet, but when I do get that, I might buy a resort or 2 on an exotic island and go stay there every winter.
Welcome,
just good to have a broader view on life I think.Hi John,
Sounds like a fair price to me. $990 for 3 transactions is quite cheap.
Not the fact that money doesn't change hands, but how much the properties are worth is where the risk lies.
I do notice that QLD conveyancing is cheaper than NSW. Not sure about SA.Amongst my my many landlord clients, some swear they will never buy commercial again, while others love it.
Had one that could only get finance for 5 year term, and had to renew at the end of 5 years.Definitely a lot more tricky and risky than residential, but if you get the right one and the right tenant, can be very profitable.
We also have the luxury of acting for tenants to commercial properties, and sometimes run into a landlord that needs a good beating as they ask for everything under the sun just to get into their property.Limit how many properties people own?? Good old land tax plays a part in that. (at least on a state by state basis)
I have clients paying close to $30k a year for land tax. Ouch.If some people cannot afford a property, who will own it?? Of course the rich and wealthy.
Mike: Know a good accountant near Livo/ Parra?. that deals with inv props, and can do bookeeping?
Benni, That is one huge coin u got.In that case, 6.5% – 8.5% gross yield for Sydney suburban townhouses should be good then…?
The rent paying paying most of the interest off.Hi Camb,
Not sure how much commission your friend will be paying you, but I always think best leave things to the professionals.
They do it everyday for a living, and are up to date with the changes in the tenancy laws. They also have insurance to cover their work. With the going rate anywhere between 5% to 7%, I give all my rentals to my property manager.
They also handle all of the issues that tenants may have.Hi Bullsta,
Anthony has noted your remedies perfectly.
You really should speak to an experienced lawyer about the case.
Any Court action may involve significant costs and is not easy.
You should weigh the costs with the potential gain.
What are the chances in recovering the loss suffered (the 10%) and any difference if the property is resold?
Does the purchaser have any assets? You would hope so, if he was buying the property.
You certainly could also consider the agent's professional inmdemnity insurance.Hi Mike & Richard,
Mike, Yep, you hit the nail on the head. Self employed. Funny thing is my employee can borrow more LVR than me.
Yes the 3rd property is cross security with the 1st at 60%.
Don't have any loans with Suncorp, and the 4th prop is instead with NAB at 60%. Wanted to bump that up a lot further up to 95%.
Richard, Yes pls email me at [email protected]
Hi James,
I had a few quotes (from builders who were mates) last year and they were around the $80k – $90k mark.
The expensive part is the site costs. The materials are make up less than 40% of the costs.
If you know a few tradies, obviously labour might be significantly cheaper.
I would also be interested if it can be done for around $40k all up.
Hi Michael,
The 4th prop is a 3 bed townhouse out near Liverpool. Bought it for $300k, renting for $380/week.
Actually looking to sell the one next door.Cheers.
Hi Free,
Looks like you having it tough there. I usually sign tenants up for 12 month leases.
Not too much mucking around for at least a year. Tenants seem to be happy.<moderator: delete advertising>
