Forum Replies Created
Exactly, petersemail, that can happen.
The same can also happen with a prize-range.I know of vendors who were selling and the RE agent used a price range, but there was no way the vendor would have wanted to sell at the lower 2/3 of this range. I think in this case the lower part of the price range was merely set up to attract potential buyers.
Celivia
Agreed, Melbear. I was told by several agents that this is the minimum prize the vendor will accept.
But one agent told me: Ignore the +, it sometimes means what the vendor wants, not what the market value is.Celivia
Setmefree, thanks for your opinion of the residex reports. I was wondering how good these reports really are.
Re:how does one know how much a place will rent for if it is owner occupied.
Well as you say you’d have to find out what other places are renting for.
I usually go to realestate.com or domain.com to check for rents in the area, for the same sized properties of similar quality.THis might not give you an exact amount, but rather a range. Then, if you’re still considering buying, you could ask one or more local RE property managers for a rental appraisal.
But do keep in mind that these are only appraisals, not a guarantee!Lenders (as far as I know) will want to see an official rental appraisal from you anyway when you’re applying for a loan.
Celivia
Thank you, Kay, these are very interesting links.
As always, you put a lot of effort into your posts, appreciate it.Celivia
Originally posted by robyn lee:Bit unusual but seems to be full 85% of the time with long term and short term tenants. It is out west and currently 100% tenanted. We would have to get a manager in to manager these units. Anyone have any comments? Robyn lee
rwahrySO if it is 85% of the time full, it must be 15% of the time vacant. That’s almost 8 weeks of vacancy per annum …[blink]
Celivia
Awww Pelicaninvestments, I think your avator is cute, leave him!!!
It can still be a pelican…he just dressed up as a duck- for fun!
AN he doesn’t say quack, quack, but DOH DOH. How’s that, will ya leave him be now???Celivia
Chickadee, there is no right or wrong answer in cases like this, it depends on what you value most.
In our case, we decided to buy our PPOR first when my daughter was 2 and I was pregnant again. THe reason for us was, that we wanted stability for the kids- it can be upsetting and costly too, to have to keep moving, we’d had enough of that. Especially when the kids turn school age, it can be upsetting if you have to keep uprooting them.
We paid off our PPOR first and only bought our first IP last year.
If I had to do it all over again, I certainly would have bought an IP much earlier, (as soon as we had enough equity to use as a deposit) and not waited till our PPOR was paid off.
I am now ready to buy our next IP.If we wouldn’t have had kids, I’m sure I would have decided to buy an IP first.
But stability became so much more important for me when there were kids involved.Learning…learning… better late (in our case) than never.
Decisions, decisions! Let us know what you’ve decided! Good luck.
Celivia
Originally posted by fjficm:I have recently been recommended a QS in Frankston with the initials N.G.
He reassured me that even if a residential property was built before 1985, building depreciation can still be claimed.
The slab was put on and the house finished in 1984
… but kept saying it was no problems in the past and that 40 years on any property can be claimed
If anyone else knows who im talking about and had similar experiences, reply here or PM me
Monopoly, my understanding is that the point of fjficm’s post is that there is reason for concern about the credibility of this QS, and not so much about whether or not he can claim depreciation.
It is a good thing to warn others.
Many, including myself, would ‘blindly’ rely on any QS’s report; I find it hard to understand why this QS has never been ‘caught out’ before when the information he provides is incorrect.Another example of how cautious we have to be!
Celivia
1 PPoR, 1 neg
still only 46 [biggrin]
10 months investingCelivia
Congratulations Wallflower, you have gained recognition! [biggrin]
Celivia
If you wanna find out, pm me and I’ll tell you.
Hehe.[biggrin]PM me = Private message me (by clicking the PM button underneath someone’s post, or by using the Private message option on the menu on the left of the screen.
Good luck!Celivia
Hi Felicity, try a search on Victor Ollis, there was a lot of conversation about him on here a few months back.
Celivia
Hi Milly.
I agree that I don’t have problems with not all tenants names being on the lease.
In my IP, the woman’s name is on the lease. She has two children from her ex husband.
Her boyfriend moved in at the same time she did.
I don’t see that as a problem.The boyfriend now has asked (via my PM) if I’m OK with it if he makes a connection in the kitchen for a dishwasher- something that he wants to do for his partner as a surprise.
I agreed, but said it had to be done through my property manager, and that the plumber who is going to do the job is fully licensed.
He was happy with that.
I even said that I don’t mind paying for that, since it will be of future value to me. But he insisted that he wanted to givehis partner this as a present and he ‘desperately’ seems to want to pay for it.
Well i didn’t object! [biggrin]
I’m always willing to do someone a favour hehe!SO for jobs requested by a tenant whose name is not on the lease, I don’t have a problem with it!
Celivia
A contract to buy and sell a property at fixed price for a certain period…say 7 years. And an agreed “guaranteed” fixed income for the investor for the seven year period.
The Investor purchases the property from the market with a 10% deposit and then uses the property to get a 90% loan.
The Third party find a Buyer/Tenant to live in the property and pay rent and pay rent/deposit (using both Rent and Rent deposit make it CFP)
If the Buyer/Tenant vacate the property, for whatever reason the Third party ‘guarantee” to pay the Rent and Rent/Deposit to the Investor.
I am not sure, but a question for the people who are more familiar with this strategy, do you think it is similar to the strategy of Victor Ollis?
If it is, then I’d like to say….
J’ai déjà vu la matrice
Celivia
[sealed]
Celivia
Well MA maybe it is a big call and yes I dunno you, but I don’t know where you wanna go here.
Do you expect me to detail everything I have ever spent on the kids, and will spend? Because you’ll understand that I don’t wanna go there!All I know is, as Yack says, it costs a hell of a lot to raise kids, house them, feed them, cloth them (a new wardrobe every few months as they grow out of shoes and clothes), put them through primary school, highschool, college, sports and hobbies, take them places, pay for learning requirements and materials, medication when they need it, etc.
But they will be contributing to the economy when they’re working, they’ll be paying their taxes.
They will be consumers, and are consuming non-stop now (although the parents pay fot it when young).Maybe you ARE a big spender, good for you, of course, but what’s your point, really?
Is it SO bad that some parents are getting this benefit?We didn’t even get (SE) it but I’m happy others did.
Coz I know they can do with it!YAAAAAAAAAAAY it feels good to be happy, did you know that?[biggrin][biggrin][biggrin]
THis is all I’m gonna say about it, coz I wanna have fun on the frolic forum and not argue about something I have no problemo with.
Celivia
MA.
You have no idea how much it costs to raise kids!
Entertaining a yuppy would be peanuts compared to raising a family![biggrin]Celivia
And has anyone here ever offered a ridiculously low amount for something they don’t really want which is eventually accepted???
No I haven’t.
I dont’ really think of buying things I don’t want.
I only buy things that I want in my life, and it hasn’t really occurred to me to make offers on things I don’t want. Maybe I have no good business sense, but I am happy with that.I want my life to be ‘fairly’ simple, have things and people in my life that I LIKE.
Not saying anything about being right or wrong here, it’s a personal choice.
Celivia
Awww Yack you sound like such a loving father!
I agree that these family ties are extremely important. ANd it certainly is a full time job, looking after little kids and a household.Before I had kids I used to have many different jobs, from office work, to working in retail shops, to cleaning, to working with elderly people, to being a kindergarten teacher, and I must say, being a mum at home looking after 2 little kids has been the most tiring of all, but also the most rewarding job. [exhappy]
Celivia
Yes a fair price should be a win/win- where both parties are willing to trade/negotiate but neither of them should be so anxious that they would overlook any ‘normal’ considerations.
Both should be happy with the price, in the end.ANd the value of land is set by supply and demand, of course. THe value will always be influenced by how desirable a property/land is, how useful it is (think about location, size and shape and zoning).
Celivia
