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

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 tenant. Looks like will have to drop more.

Maybe option to change agent too . Have to look at the contract now.

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 if available in my price bracket .

Cheers

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 western sydney…most new places like ropes crossing is pretty expensive and mostly selling off the plan houses whereas i am looking for one that is already built and with older suburbs the houses are so old that depreciation becomes an issue since i also dont want to spend money on improving it too much.

What are the new-ish suburbs around western sydney which might fall in my budget ? Any pointers there ?

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 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 ??

Well i would work for less if it meant that i kept the job as long as the reduction was within my reach……..and it wouldn’t necessarily mean that i would not produce good quality of work…..its like in IT contracting..you initially want $x but have to settle for $x-y…..i presume it is the same everywhere…the only problem is it is difficult to understand what the builders margin are….for a house of say $300K how much do you think the builder will be making ?

i have a conditional one right now.

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?