Forum Replies Created
ZB,
I definitely like cars too and like too spend time tinkering around.
Its a good way of turning a hobby in to a little money spinner.
If you look at my cars you see I basically have one for every type of occasion.
Sporty, luxury and camping.JAMBV,
As Terry said the market in Japan is very different to OZ.
There are quite a few good bargains but getting a good property manager can be extremely difficult.
The real estate agent holds power over both land lord and tenant.
It is very difficult to negotiate rent rise or increases. (I lived in a place that has had the same rent for 25 years).
It is not uncommon for a tenant to have to pay up to 10 months bond which is broken up into 1 month present money for land lord and 1 month present money for agent, 5 months is kept for who knows what and they may get the rest back if the place is spotless.In regards to investment properties.
An example of a property I'm currently looking at in Japan which will cost around 150K not sure of the age of the building.
It has 8 x 2 BR that should rent for around $400 per month each giving a combined $3200 per month.
The property should depreciate at around 2-3% per year until it reaches a base figure and shouldn't go down any further.
The key factor is whether the loan will be in Yen or AUD or no loan at all.
I will let or the number crunchers out there work out the best scenario and if it's worth doing.
Hi LA,
I have the advantage of living in a country (Japan) where certain cars are a lot cheaper than OZ.
Basically I look for a car that is reasonably priced here but worth a lot more back in OZ.
Personal imports allow a number of breaks that you can't get when trying to buy an imported car from OZ.
Also most the cars I own in Japan a sort after in OZ and although I have the same car/models they are basically different cars.
For example, this is my third Delica Space Gear 4WD.
People like the cars I get and normally make offers that are hard to refuse.Theres no real need to go to the auctions here but I have access to them and visit occasionally.
Prefer to get cars from clubs where you know the owners have looked after them.ZB,
Roller is a late model Silver Spur 111 and will be on the market in about 6 months.
Definitely appreciating in value once it hits Ozzie shores.
Also a good money earner here.It's good to see this thread is still going but some of you need to lighten up a bit.
I've still got the same cars and bikes from 6 months ago.
Cars can be just as good as an investment as houses if bought and sold the right way.
Toyota Troop carrier 4WD
Lada Niva 4WD
Mtisubishi GTO 3000 4WD
Delica Space Gear 4WD
Mercedes Benz
Rolls RoyceHonda XL 185
Honda Steed 400I guess it's time for an update as it has been a while since the last one.
Two countries so 3 cars and 1 motor bike in each one.Toyota Troop carrier 4WD
Lada Niva 4WD
Mtisubishi GTO 3000 4WD
Delica Space Gear 4WD
Mercedes Benz
Rolls RoyceHonda XL 185
Honda Steed 400If you can afford lifes hiccups then you may not need landlords insurance, but for peace of mind I would suggest getting some.
Xenia,
Have you read my nightmare swimming pool claim? How would you have handled this situation without landlords insurance?
Sometimes it doesn't matter how good your PM is problems can occur.Hi Sheilsy,
I suggest you read my post if you are thinking of a property with a pool.
https://www.propertyinvesting.com/forums/property-investing/general-property/4320150
Hi Simon,
A wealth of knowledge as usual. Having the 260K in the offset account to negate paying anything is good.
How would you solve this little problem? PPOR has 260K morgtage. Inherit property worth 450K but no debt.. Would you sell the 450K property and pay off the PPOR and then buy another investment property using the capital left over from the sale? Is it possible to borrow against the Inherited property and use that money to pay off the PPOR. I read somewhere a few months back of a way to possibly do this but can't find the thread.LR,
The problem isn't if it is true or not. the problem is the time and money spent proving it in court.
Tysonboss,
Yes, but he had a couple of outstanding warrants. Here is a small place and he spent a bit of time at her majesty's pleasure. It's a funny thing how paperwork can get lost, bail is refused and no leniency given by the magistrate.
Revenge is sweet, just and mine.Hi All,
Thats the company I was looking for.
Thanks.
C2
Contact the tenancy council and ask them for one of their booklets regarding tenancy rights, but don't let them no you are the owner. Arm your self with their information and be prepared for what ever comes your way. Also document everything you say and do if interacting with tenants or anyone else to do with your property no small or trivial it is. Keep a journal or diary specifically for each property you have and one journal to cover all properties.
In these days of litigation it pays to be cryptic.
I think someone hit the nail on the head.
Yes, best places anywhere near the golden triangle CDU, Casuarina shops and Hospital. Nightcliff foreshore. Palmerston CBD.
Hi 1winner,
Although the renewal policy didn't have a bearing on this situation, the insurance company was following the renewal policy which had been updated on their data base and claimed they weren't aware of the old policy. If I hadn't kept a copy of the original policy, I would have had to accept their original decision. I had both policies and was able to check the wording and prove they were wrong.
r1trackday
How many companies start with the 3 rd letter of the alphabet?
Hi Steve,
Thanks for the update.
A few suggestion for the next upgrade.
1) If the system is slow then upgrade the server first.
2) Make the new site first and beta test it before just switching sites.
3) Don't change sites and try to upgrade as you go along.As with anything, sites change over time and members come and go. Its up to the new members also to contribute with up to date info and not just rely on the old hands. When the site first started a lot of new ideas were being bounced along but after a while the same questions were repeated over and over again. As life has it, this repetition annoyed some of the members and they basically ceased answering the same questions over and over again. As for myself a family illness didn't allow me the time I had previously to keep posting and offerring advice. My advice is not about number crunching (hopeless at maths) but generally about negotiating and thinking out side the square
The insurance company has finally come through.
The cheque has been received and banked.2 Years of drama is finally over.
Valuable lessons learnt.
1) Read renewal policies very carefully.
2) Keep all copies of policies, renewals and any correspondence.
3) Be patient, keep to the facts and the result should be good.
4) Be prepared to do the hard work yourself and don't rely on PM's or anyone else.Has it actually been tenanted for the last 10 years or has it been covered by Public Housing where they still pay the rent even when no one is there. I would ask to see the last 3 years tax returns from the pm and check for any insurance claims or repairs that have been done. Damage tends to occur with in Public housing groups. Check with Public housing also and see if they are committed to a lease not a verbal agrement. Some public housing is run by social welfare groups and not by public housing itself.
Hi Wayne,
Have you left for L.A yet?
You might want to think about going to Universal studios or Magic mountain (six flags) in L.A especially if the kids are old enough to enjoy roller coasters.
If you want to see some nice properties do one of the day tours through the private estates of the rich and filthy rich or a relaxing stroll along Venice Beach day time only.C2
SURPRISE SURPRISE SURPRISE.
The insurance company has AGREED to pay for a new pool and a little extra for goodwill.
Now it's a matter of waiting for the cheque to arrive.
It looks like patience and persistance have paid off.
C2
Hi Suffragette,
Can you explain to your friend that the loan from the bank is 20 K short and you want to pay him the difference over X amount of time at X $ with X%. I'm sure he would rather do that than have the hassles of trying to resell .
C2
