maggie, to cut a long story short….(room fads to black…)
We put our house up for auction last year, we got a buyer at the auction, who put down $1,000 to hold the sale on the day.
During the 3 months till settlement, we asked for a section 27, which asks for the deposit of $24K to be paid to us. We were told by the Agent, that they received a cheque for the amount, but we told by the buyer not to bank it yet as the funds were not available.
We kept hounding the agent to cash the cheque anyway, if it bounced we may have a chance of going to the next highest bidder at the auction and offer the house to them.
Anyway, 3 days before the house was meant to settle, we were told by our solicitor that the buyers wanted to extend the settlement a further 6 months !!.
We refused as we needed to get our new property settled before then. The buyers solicitors lost the buyers and cant find them anywhere (a magic disapear off the face of the earth trick…)
We called REIV, by law the agent must bank the cheque within 24hours. Which they did not do.
We still havent seen the $24K, and the agents are saying its not their fault, but we asked for the cheque to be cashed, and it wasnt.
So its neglect on the part of Burnhams!.
We have sold the house since and are renting our house back from the buyer till we sort out where we go from here.
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Regards,
Arty.
[] “Why work to the age where you cant enjoy
what you have worked for !.” (Author: Me)
Lawry73, yeah its great that people with the knowledge is sharing their experiences with everyone, so we all have a chance to build our assests.
Have you noticed on the radio/tv all the new competitions “I’ll make 5 people property millionaires in 6 months..” sort of thing.. its becoming overwhelmed with making people rich on property.. which means it gets harder to find a bargain property… geez []
Regards,
Arty.
[] “Why work to the age where you cant enjoy
what you have worked for !.” (Author: Me)
We had problems with Aussie. We bought a 20 acre block of land in Kyneton. They were late with the settlement. Then when we went to sell the land, we paid them out, but they still deducted payments for the loan, and then didnt release the title on the land which was ours, so the settlement was delayed again.
We posted all this on a web page, and fought for a $3000 compensation for our problems that AHL caused. We got the $3000 and removed the web page.
I dont like them at all, but thats just one person.
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Regards,
Arty.
[] “Why work to the age where you cant enjoy
what you have worked for !.” (Author: Me)
Id love to come.. but the expense is the downer for me… I know if you invest the money to attend its improving your knowledge to invest better… but Im not in the position to outlay that much money for a seminar.
I thought the idea was to minimise spending anyway … [:0)]
Regards,
Arty.
[] “Why work to the age where you cant enjoy
what you have worked for !.” (Author: Me)
sooshie, airbrushing makes it hard to do searches on the Web for properties.
I bought a block of land from the Web site unseen, but you cant really go wrong with land. The only differences was based on time, the photo showed nice lush green paddocks, but when we saw the land, it was all brown and dry.. due to the drought.
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Regards,
Arty.
[] “Why work to the age where you cant enjoy
what you have worked for !.” (Author: Me)
It has statistics for all sorts of stuff, like population… etc.
Latest Popular Statistics
Population
Australia’s current population
Population for States & Territories
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Inflation
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Wage Cost Index
Employment & Unemployment
Number employed, unemployed & unemployment rate
Internet
Households using the Internet
Internet subscribers and Internet service providers
Gross Domestic Product
Chain Volume Measure of GDP
Tourism
Tourist accommodation
Tourism indicators
Income
Average weekly earnings
Employee earnings and hours
Crime
Recorded crime
Crime & safety
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National Health Survey
Retail Turnover
Retail Trade
Regards,
Arty.
[] “Why work to the age where you cant enjoy
what you have worked for !.” (Author: Me)
I would think that would be the case. This site has a ton of new people looking for the way to make big dollars in +ve cash flow. And all the people turning into Today Tonight…
It will turn from the “renovation boom” to the “+ve cash flow boom”. Any IP worth buying for +ve gearing will be snapped up as quick as it advertised.
There will be an excess of rental properties looking for tenants, and if your IP is vacant then your are actually negative gearing which is not what your want for multiple IPs.
Of course, though there may be 100 people looking to invest and coming to this site and seminars, but not all people will stick at it.
…thats my thoughts of wisdom anyway..
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Regards,
Arty.
[] “Why work to the age where you cant enjoy
what you have worked for !.” (Author: Me)
Id agree with Westan. In Steves book he shows what he does with the surplus, but there are many options…(from memory) he splits the surplus into 3, the first 3rd goes back into the Investment to keep the tenants happy, and to add to the value of the property. The second 3rd is used for Investing in the Sharemarket. The third 3rd is used for new Investment Properties.
You could always divide it into 4 parts and use one for personal enjoyment/spending.
Just a thought..
[]
Regards,
Arty.
[] “Why work to the age where you cant enjoy
what you have worked for !.” (Author: Me)