I would also be very interested about sub division as we have decided to increase the equity in our existing house, by adding a 2nd dwelling and then sub dividing We were amazed at the extra information the Knoxfield council have put in place to help residents decide if they match the criteria, before spending bucket loads of money when they don’t have to. I would suggest to go to your local council and see if they have any nice to know info……
Just looking at your first post, you wrote that the Agent said ‘rental is hard to come by in the area’.
In what context did you mean this?
Did the agent mean it’s hard to find tenants in that area or does he mean there are plenty of prospective tenants, but not enough rental properties?
Obviously if the existing tenant is going to move out when the place is sold, and there aren’t many prospects for getting a new tenant in quickly, it could end up being a money drain.
If you do end up buying it, see about getting a clause put into the contract that allows you to bring prospective tenants in to view the place prior to settlement. That way you can line up a new tenant to lease the place as soon as it becomes yours.
I must admit that I learnt more from overhearing other people ask the questions. I am often commented on how much I take in without being in someone’s face! And the funny thing about that is you appear to not know much about that person when speaking to them, therefore you can ask questions that are less personal but still get more out of the conversation!! I hope I am making sense [?]
I loved the game on Sunday, as I am not very good at nogotiating prices and had lots of fun, I would have loved to keep going. I think it was a very important part of the seminar, as I got to play the part…!
Hi Emma,
I have visited a website that may be able to help you. http://www.realestate.com.au it has heaps of info on all areas including statistics on average income, types of families, even what is the most popular car they drive!! check it out!
I’m not sure, but I doubt you would be able to do this.
After all, how can you sign a contract of sale with the person you’re doing the wrap for, if you don’t own the property to sell.
I’m pretty sure you need to own it to be able to sell it.
I guess you could make a contract with someone for an intent to purchase, but I don’t think it would be legally binding (meaning you’d have no recourse if they just walked away).
A solicitor should be able to give you a yes/no answer on this.
Gordon and I are blown away! It was the best thing since sliced bread [] I am so wired!! I had arranged for 2 annual leave days for after the seminar and boy am I glad that I did.
I have written down all my immediate thougths so I don’t lose them, played some tapes from the trenches and rang up and made appointments to see a financial adviser & accountant on Fri, the Mort Broker on Wed.
I must say that these guys who didn’t know me, knew that we had done our homework. As I stated certain criteria to them, they were amazed at how enthusiastic I was, knew what I wanted and how I was going to get it done. The first guy rang back within 20mins and organised 2 appointments with me. He was so enthusiastic. I’m amazed at how the energy can be transferred to others even over the phone. Wow!
Del, we would love to get together and catch up with everyone and discuss how it is all going.
I must admit that it was I (Becky) who suggested that Robyn shave her head!!! I felt so guilty that I approached her later on and promised her that I would keep in constant contact to help in any way I could and to keep her motivated…….
I know how good you’re all feeling because I can’t get the smile off my own face [] It’s great knowing that you are in control, and I was so worried about making the next step. Not anymore!!
Hi Steve,
There were a few key points that I particularly liked about the intro such as; your honest approach that the book is not promising to be a “get rich quick scheme”, as this is all too often what people are looking for. Secondly, the fact that other people can be sceptical about investing as a lifestyle change certainly rings true, as I have already come across this situation when speaking with friends about positive cashflow investing, and I haven’t even started to invest… yet []. I also liked the part about gradually becoming self sufficient and not needing to have a profession in investing techniques to succeed. The part about acquiring a property every 8.5 days is definately intriguing and certainly sets your mind to wondering about whether you can achieve this. It all comes back to leaving your comfort zone.[]
Looking forward to seeing you all at the seminar in about seven weeks….. and counting…..[]
Becky S [8D]
P.S I love the smileys Steve [][:0)][] (can you tell I’m a newbie)