Forum Replies Created
Bit of background on agents- they are not all the same
There are many differing types of agents and levels of training they have within the industry
There are sales Registrations- where the poor agent , or someone from any background wantin to give real estate a go- simply does only 2- 3 days training couse and then their boss throws them on open homes with no training, support etc and often pays them nil commissions for months only a basic wage or debit/ credit system so they often struggle for a few months, and then leave the industry fro a 9- 5 job that is easier and better paid.
or you have the highly trained Agents / Principals that have maybe a degree in Business, Commerce, Marketing, Valuation, and highly trained in negotiation, sales, building, project marketing- these agents do not work on open homes under 500k at all, or day to day opens, they ony focus on selling development sites, properties over 500k , large subdivisions, bulk sales for developers- eg 50- 100 homes/ blocks of land, commercial/ industrial and they are earning approx 150- 1- 2 million per annum, often they have 1- 2 P/As and have worked their way up very quickly. These agents will not work on open homes or deal with stock that does not sell in less than 4 weeks as they are highly sought after for their skills.
So you can't really put all agents in the same categories, and sometims I feel sorry for some of the agents at open homes as they have been through only a 2 day course and told by their boss get out there and bring me a contract asap, they are not given
any training, support, often do not even own their own car let alone 1 property- but they are good if you get on their side as they will try hard for a sale, and often you can say here is a list of questions, go find out for m and Ill call you tomorrow, and tell them you are a serious buyer and want to do a deal, as often they are eager to please their boss or get some commission- so you have to really understand where they are coming from also.Yes Singer still very rare that I see business women making decisions, negotiating hard or having confidence in business- common in Sydney but not so common in Gold Coast or Brisbane.
Why do you need a power of attorney form? I assume maybe you are buying in both names but if in a company or trust either or director can sign and make decisions.I would just only do a 12 month lease only- no 2- 3 years in case you need to sell, circumstances change, or the tenant doesnt become too great then they are a nightmare to get out. I once did a 2 year lease, my tenant was great for the first year, then she met a looser boyfriend, started drinking, fighting, getting behind in rent, then fighting more, police coming around regularly, and was very very hard to get out and when I didnt extend her lease she got drunk, put about 8 holes in the wall, smashed the front door, and left the house in a total filthy mess and the bond did not cover it.
You can never assume a good tenant will always stay a good tenant as often circumstances change and if you are stuck in a 2 year or 3 year lease it will be hell on earth trying to evict also should you need to.
OK- This is what you need to do- Ive done about 10 house moves so far-
Go see your solicitor asap and get a contract and terms/ conditions written up asap- worth every cent to do this correctly
Do pest/ Building/ Asbestos inspection asap now so you know what your dealing withHow many km are your moving the home? regardless you will get cracks, movement as it is an old house so you must allow in your reno cost a sizeable portion for building/ fixing/ aligning things- doors, windows, movement, damage of boards.
Make sure youa re also insured for moving the home in transit – Ring an insurance broker asap – we use HONANS BROKERS
http://www.honan.com.au
Bye
KylieYes- you have 2 options really-
Pay out their shares and take them over
Find someone to take over their sharesThings like this can cause major problems in friendships and not worth ever loosing friends/ families over money or deals- sometimes maybe better to buy them out or sell and take your profit, move on and do deals by yourself, and probably take the lesson to do an exit strategy, and your all at fault for not sorting this out from the start.
Some areas of Logan-
Eaglby, Kingston, Ipswich, Crestmead, Marsden, maybe near Wacol, Carole Park, Goodnathese are snapped up in a few hours though so most do not even hit the net- you must pro actively call agents weekly, be ready to jump quick, short finance clauses if any, short pest/ building 2- 3 days max, quick settlement 21- 30 days, or 48 hrs due diligence.
Mainly you will see these pop up as divorce sales, separations, tenant damage, or people needing money for business quickly- but doubt youll find them on the net. Ive been buying and selling for 15 years in Brisbane as a principal and this stock never hits the net as agents can move it very quickly as have a list of ready buyers all the time they juts call that can make decisions very quickly – often without seeing the property, just seeing pics or doing google street view.
I bought 1 this morning this way looked at a pic, knew my prices, had done my homework, knew land val, did google street view, it has a dump on it Ill prob sell for 10k and someon can take away the cottage and reno it, Im more interested in the land as it can be subdivided- (Already called my surveyor and he has checked it out) so Im buying for the land.
I did a cash contract, 10% deposit, settle 21 days and picked up 1 block with a dump on for $180-
when subdivided the land is prob worth $205 per block any day of the week. Maybe Ill subdivide or Ill subdivide and package up homes on it- sell 1 – keep 1 .This deal was on market since last night only and signed it up today via fax, so the deals are still out there you juts must be ready, prepared, and act.
Bye Kylie
mmm- based on seeing many cases in my office like this and advising on them- I can say I see a lot worse that your situation, and if you still have 100k, health, young age and your mental faculties things look bright. Probably the most important thing is to stay close to your kids and not move away from them, take a mini holiday, join some gym, sports groups, and keep active, as your kids really need you also. I went through my parents divorce and was very sad my mum moved away, and took my younger brother and I stayed with Dad to help look after him- shop, cook, look after my pets, and stay in my school.
Maybe move a different suburb or different type of home/ apartment, keep your job as in all of this situation try not to make too many radical changes, make changes slowly and it will be easier- rather than job, moving, and isolating yourself away from your children/ friends/ rels.
Join a soial group, Im not sure if you have faith but maybe going to church 1 x per week and meeting new friends, prayer etc also helps a lot to give you strength.
Try not to focus too quickly on building wealth, money, assets etc as your mind and emotions probably need a little rest and time to recover, otherwise youll wear yourself out to a haggard mess.
Regardless of your ex, you have kids to raise and probably will one day need to make civil relations with her if the kids are sick, or go wayward they will need both parents.
Im not sure where you are based but Im happy if you give me a call as I have lived through all of these things with my parents, and seen all the results of divorce. Please email me your phone number or email and Im happy to have a little chat with you.
By trade I am a property advisor and specialist but I am happy to have a general chat with you
I dont belive in any sort of slander or professional defamation. I have done Carlys course and also a few other courses, then applied my knowledge and topped up what I already knew and met some extremely good contacts that I am now using for accounting, tax, advice, architecture, design, and met one man from Central Qld which has juts given me about 70 properties to manage and about 40 to sell- so I guess I can look at it the sense that I invested time, some money, listened, answered questions, met some amazing contacts, and to date this will yield my business and property company nearly 400k – 500 k in 1 year.
Out of Carlys course I heard about some emerging areas, and I also listened a lot to other participants and found a little emerging area of Brisbane where some of the students were doing some good deals and I investigated everything ad found a subdividable property also there, did the feasibilities back to front had 4 people check them all out, plus my tax agent and now moving forward on this.
Goodluck to Steve, and no one should be resentful of anyone having a go, trying, putting together property events, bringing some great speakers together, it is up to the individual to really do their own research and decide what they wish to learn and from whom and check each person out fully.
Steve probably could be lazing on the beach, resting up, enjoying life, or doing more deals, but if he has a love also of teaching, training, support well good luck he has the best of both worlds doing something he wants, being surrounded by positive people, teaching and also earning money- no one works for nothing, or runs a business to go broke.
I have many wealthy property friends and the point they have made is they can work all day at Salvation Army or Lifeline, or they can do property, business, make profits and give away 10- 50k per year to their charities in cash or goods from their business results.
And AMWAY – well I did a case study on this business for university when I majored in Marketing and they have an absolutely huge distribution system and sell electronics, insurance, home loans, cars, computers, makeup, food products, vitamins- so nothing wrong with doing legal businesses, and direct marketing is the fastest growing enterprise in the world and allows a lot of people to have micro businesses to support their families. I actually have a friend in AMWAY making approx 1 mill per year and she travels about 10 x per year, loves her work, training, employees and lifestyle so I dont believe in criticising things or people. We are all here to learn, help, support each other, not to drag others down.
Kylie
Cheap often means nasty, dodgy and potential major problems.
If you use neighbours, tenants etc to do things nad something stuffs up or an accident you are fully liable as using unlicensed / unqualified people and they also wouldnt be correctly covered by your public liability if they hurt themselfs.
Yes Hire a Hubby is good, VIP, James, Jims etc
Sometimes to save 100- 200 is not worth the potential risks
Hi – Yes this is a simultaneous settlement and I have dealth with many of these in buying/ selling land off the plan not registered and then selling it when registered.
You will need a very good experienced solicitor that is on the ball
You will also need a Plan B- What happens if you cant onsell? are you also prepared and ready for settlement as if you cant sell you have to be ready to settle also.
Normally when I do this I make sure I can settle regardless or have a back up plan- as it is not always a sure thing that you can sell, or the the next buyer will be able to settle when required also.
Kylie – goodluckRing Office of Fair Trading and also the Accountants Association, and I would also go and lodge a complaint and case with the police for theft of docs as you have paid for them, and they should be released back to you.
Yes
Mr Tony Lee – he is very smart, switched on and heavily involved in property himself
Thanks
KylieYes this is just the way it is, I dont take any notice of it and it can work to my advantage sometimes and I can play the dumb blonde with no idea!!, take my time and put in ridiculous offers which sometimes get accepted – Im a natural blonde with long hair myself.
Many agents dont have much training and still 80% of the times the ladies say to the agent anyway Ive got to ask my husband, father, boyfriend, brother et c- it is still rare for women to make business/ real estate decisions quickly, sign up an offer, pay a deposit and make solid business decisions.
I own an agency myself and also have been selling and buying for 20 yrs, so it is rare that I deal with women that say I want this, do this, do that, heres the offer, signature etc, or that can make up their mind – normally they say Im not sure, cant make a decision, not sure on the price, have to tell my dad, or husband etc etc, so I can also understand why the agents and male sales people do not take women very seriously, and not many act serious or as business people for solid business decisions. I can say this factually with no hard meaning, it is just true and I see it daily. So if women want to be taken serious in business decisions they must be armed, ready, and make clear non emotive decisions based on facts/ evidence and research.
Are you in the cooling off period? Get your solicitor onto this immediately, and make sure that the agent has not released the deposit and it is being held in their trust account and I would be onto this Monday asap, as agent cannot release the deposit to anyone until instructed by solicitors- ACT ASAP
Sorry I mean that we scan our landlords to make sure they do not scrimp on basic things and we have authority up to $500 to immediately fix problems and keep all in order.
Most good property managers or the elite ones charge 10% – We manage properties in Brisbane and country areas and our fee is 10% + gst, per month- Sundry $6 . We do inspections for potential tenants afternoon, evening and weekends!! and never have any vacancies for our homes, we are very strict what stock we take on and we scan our landlords to make sure they so scrimp on doing basic things. Sorry we do not do down your area- but mayeb look for a really good property mgr, pay them 9- 10%, get the service, feedback and switched on managers. Bye Good luck- if no tenants put the aircond in main bedroom go for Fujitsu or Panasonic brands only quiet inverters and good reliability, good guarantees, and be pet friendly on application. It is so hot down this way and near Varisty if no aircond in main bedroom most tenants would be by passing it straight away and paying a littel extra to get an aircond.
Bye Keep me posted – hope all gets sorted for you
Is there aircond in the main bedroom????
Also when I was looking for a townhouse to rent whilst I was building I was looking for one that would let me have m y mini foxie, so I would go past your ad as I couldnt have my foxie in the yard with me. So maybe you should consider having a little pet, as lots of single ladies, professional couples looking to rent but most have a small dog or little cat for a pet or security.
So you would miss me as a tenant as I couldnt have my mini foxie, and also does not advertise any air cond in main bedroom, and we are and have been great tenants as pay rent in advance for a few months, have a cleaner 1 per week, work a lot so not home much, and have a gardener/ mowing man.
I advertise all my rental homes PET FRIENDLY++ ON APPLICATION and have a lot less issues, damage, wear and tear with pets than 1- 3 kids etc, we have never had a problem with pet friendly tenants and they look after the pets like 5 star royalty, as I do with mine, she is a spolit pet with her own tent, dog bed, washed weekly, toilet trained, an a great watch dog.
So maybe look at aircond in main bedroom, proeprty mgt fee your paying and pet policy.I have had a quick look- I think the problem is that you are also not a feature property so get dropped to the bottom of the list quicky with the rentals, ask the agent to get you a feature property even if you have to pay $100 toward it so it pops up the top of the list- also I would drop rent asap $10 or whatever to get it rented asap. I normally offer free net or foxtel whihc costs me about $50 per month but always keeps a list of tenants interested and nil vacancy and I do not have to drop my rent.
Also look at how much you are paying your agent to manage, if you are on a relly low mgt fee they often do not give your job priority and around this area they will focus more on selling and renting the 400- 700 per week market.
All interesting- yes women need to feel a bit safe and secure but we are also responsible for our own state of mind, security and confidence and have to know how to also be secure and safe for ourselves and not expect everyone else to do it all for us, and depend on everyone else.
I have seen about 10 marriage break ups lately where they have been married for 10- 32 years and a lot of it has to do with women expecting and putting too much pressure on the husband to be fathers, lovers, financiers, cleaners, gardeners, house managers, tidiers, handyman and expecting that the guys are some knight in shining armour. Many have had enough or cant cope with all the pressure, expectations, are desperately unhappy, worn out, tired etc and are running home or leaving in droves.
So I have sat down and thought all of this out and I have changed a few things in our house hold- we have a cleaner a few hrs a week, I do not whinge or nag about anything, and thank ful every day I have health, food, shelter. We play nice music when we come home and have a dance/ laugh or take the dog for a walk, mobiles go off after 6pm, we read books together and discuss things like history, religion, travel, science, or interesting topics and we have some peace and no distractions.
We have delegated tasks so we know whom does washing, garbage, feeds dogs, pays bills and we have just made it simple and have decluttered the house and given away things we dont need or dust collectors, and also we plan where we are having mini breaks or holidays. I do not want a worn out stressed wreck of a man or to over burden him with too much, and I cant expect 1 mere person to give me 100% of all of my needs- a lot of it comes from your own sense of worth and security.
Our families- grandparents and parents came to Australia with only a suitcase, a few pounds, not very much english and each other- they did not have all these homes, clutter, organising things, getting stressed about housework, dust, boxes, plasma tvs, furniture as they were too poor to have anything until they built up a home, and together they have all built major business empires, but they learnt the value of respecting each other, working together, each person being capable and strong in their own self, not arguing or whinging, or taking out things on each other and both our sides of grandparents were together happily married over 60- 65 years til they passed. So we need to get back to basics a bit, learn from people that have been married and made it work for a long time, and just not get worried over small issues.
When I get worried or upset or a bit stressed I visit some of my friends, or rels in the cemetry, sit with them, have a bit of a chat and this will put anything into perspective.
Kylie
Go to the best tax planner/ advisor possible and pay the $$$$$ for the best help in this instance because if you get some of the planning worng here thereas there is huge sums of CGT and tax liabilities/ potential at risk. Where are you as I have great acct/ tax planners in Sydney and Brisbane. Either way if slugged fully or partially with tax, seems a great level of growth and I wouldnt care about paying tax- the more I pay the better as means Ive made more $$$$ and profits. Dont get caught up in not wanting to do things in case you have to pay tax or the tax you need to pay, look at things in a yearly basis and ask your self well even if I pay xyz, would I have been able to earn this money in a 9- 5 job or corporate job??? probably not. I love paying tax! but only pay what I need to as the more I pay means the more I have made really and turned over.
