Maybe the threat would do the job ? I have a lawyer friend too !

Changing agent is a consideration. Has anybody changed agents ? Their terms say
"30 days notice. If at any time of termination of this agreement the property is subject to a fixed term lease, then the owner agrees to pay agent 5% of the balance of rent payable till expiry of lease."

So if i give them notice and get someone else on board do i have…[Read more]

not in regional area and not in mining town.
vacancy rates – not sure – which site do i check ?
apartment is only 7 years old ..well presented..excellent condition..had it repainted.all amenities present in apartment.
Rest area also vacant for a long time it seems, coz they keep dropping their price too . Already dropped the rent 10% from previous…[Read more]

I am currently dealing with one in a hot hot market….For one i know for certain my BA is not going to save me any money ..coz there is no low balling in this market anymore..everyone is paying overs so u need to factor in purchase price + your BA fees ….there is NO property that sells before coming on the market..the owner would have to be…[Read more]

Hi guys
Thanks for all your inputs.
I am not interested in doing reno .that is not part of my strategy at the moment so it is not an option for me and i dont have enough cash to buy something and then build a granny flat on it…i am just going to shortlist a list of suburbs that have good capital growth potential and try to buy a semi-new house…[Read more]

Hi Catalyst, you are right . I am thinking i might pay a bit more for newer property but i would get better rent and superior depreciation and when it comes down to numbers i might very well be positively geared in a few years which in turn helps me improve my portfolio sooner with the extra cash i have . Essentially it does boils down to some…[Read more]

Thanks Colin – i am aiming for 90%..i have a couple of IPs so wont get 95% mostly.

Thanks Mark for your views. Yes i want to hold the property through atleast one full cycle if not a bit more…aim is capital growth so i can get my equity back hopefully as quickly as possible to invest in my next one…dilemma as i said earlier is old vs new in…[Read more]

Thanks for all those tips..unfortunately firing them now is not in my best interests since because they have singed a new 12 months lease with the tenant according to agreement i will have to pay them 5% of the rent till the lease expires if i fire them.

OK i finally found the agreement and it says 'lease renewal' is '1/2 weeks rent' ………………so technically they r right but its hard to digest now i have signed up long time ago so not in a position to change it i think.also cant fire them since now they have signed the tenants to a 12 month lease and apparently the agreement says i have…[Read more]

Ok that sounds nice ..maybe i will fire them ….and maybe i will take up the job of doing it on my own ! Cant be too difficult can it !

Also my agent was the one who were marketing the property and had around 10 to rent out..do you think it was a bad decision to go with them considering they had many other alike properties to rent and that they would not stress on mine as they would have had it been the ONLY property to rent out for them ??

the building is around 28 floors….some of the flats advertised on the 8th floor are around $340-$380 ….but don’t know how much it is going actually for….

Sorry i haven’t paid it yet …i have paid only the stamp duty and the settlement is due in a few months time…
answering a question from henry…the real estate agent who are selling all the apartments contacted me…..

i have a conditional one right now.

I am looking to build my first home and almost convinced that i should build since what i want in established houses is more expensive than buying land and building the same house on it.

So we generally might need to do
1.soil test
2.land survey
3. land valuation
4. ??

How much do each of these things cost usually ? Do i have to employ different people for all these different jobs or does someone do them as a package as well?

Research apparently shows that property values have never gone down in Oz because of the proximity of a prison in the area….it says that values only increase because it creates more employment and also better municipal facilities and transport near the area…..

Mortgage Hunter,
Are you saying that today if you sell your house you will practically get no value for your house ? Only the land value will remain ?

well it is the “expected” life i guess….but as you said it should be case-by-case basis….but taking depreciation into effect a 50+ yr old house would only have a 50K value at the current time(provided the reconstruction value currently is around 200K).

The point is if you do renovation on the 50+ yr old house then the depreciation would still…[Read more]