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  • Profile photo of blacklabblacklab
    Participant
    @blacklab
    Join Date: 2009
    Post Count: 8
    November 23, 2009 - 2:07 am

    Duckster……excellent response.

    Much appreciated,  I will work through this and see what's specifically applicable to my situation.

    Again thanks.

    BlackLab 

    Profile photo of blacklabblacklab
    Participant
    @blacklab
    Join Date: 2009
    Post Count: 8
    August 27, 2009 - 11:27 am
    hydramax wrote:
    I went to a seminar the other night in Sydney and was told that Frankston council has earmarked $500M (thats 500 million) over the next 20 years in infrastructure development. The woman giving the talk, has written several books on real estate investing and chose Frankston as her No 1 pick in all of Australia followed by Werribee then Ipswich.

    Hydra

    Hi Hydra,

    If you dont mind me asking, who was the lady that you went and saw and what was her reasoning behind Werribee? Just interested to know.

    Thanks.

    Profile photo of blacklabblacklab
    Participant
    @blacklab
    Join Date: 2009
    Post Count: 8
    August 16, 2009 - 8:22 am
    pwinne wrote:
    Hi Blacklab, are you looking in Bendigo or Ballarat?

    Hi Pwinne,

    Looking in Bendigo.

    Qlds007 wrote:
    Must admit i have a fair number of units in my portfolio and dont see an issue as long as you throughly check$ out the Body Corporate fees and Sinking fund provisions first.

    Just financed a deal for a client where the block of 12 units had a sinking fund balance of $102,000.
    Thats rare but very much peace of mind for the buyer that the fund has more than sufficient funds to cover any potential expenses.

    007…there are 3 units that sit next to each other. The only thing they share is a common property driveway. I rang the agent and he said there in no actual body corporate. I suppose this is not a bad thing? But if the driveway needed repairs I dont know how you could enforce everyone to contribute to the cost.

    Does anyone see a problem with this type of setup?

    Ta

    Profile photo of blacklabblacklab
    Participant
    @blacklab
    Join Date: 2009
    Post Count: 8
    July 12, 2009 - 11:43 am

    Michael,

    Your a true gentleman. I received the property report. very good info.

    Thanks again.

    Profile photo of blacklabblacklab
    Participant
    @blacklab
    Join Date: 2009
    Post Count: 8
    July 8, 2009 - 12:15 pm

    Well that kind of links to my next question….

    Some people say that you should never sell your IP's. But how does it help one if they have 10 or 20 IP's that simply sit there and pay themsleves off with the rent received? I agree that you may not have to put extra cash into the IP's to pay them off but it doesnt mean that you have any cash to do anything with. Especially if they are not positively geared.

    What's the idea here?

Viewing 5 posts - 1 through 5 (of 5 total)