Can you give me a price please?

have you seen a registered copy of any sub-division plan? If not, then they have not completed their side of the deal so no settlement is yet required.Iwould still seek compensation should they wish to push the matter and delay as long as possible.Is the property a good deal? Can you make money on it by selling/flipping BEFORE the date of…[Read more]

You do not need a 10% deposit. All that is required is 'consideration'. This could be as low as $1 to form a binding contract. Consideration could also be the signed contract for purchase.I am assuming that there is no 'cooling off period' involved…Get your lawyer write a registered letter requiring the buyer to complete the deal as per the…[Read more]

Remember, every time you contact a [your] lawyer it costs 'you' money. Every time their lawyer gets involved, it cost 'them' money. So, if you send a letter to the seller [NOT their lawyer], they will probably (in the end), send it to their lawyer, all of which takes time (using the normal postal system).  This can run into weeks and months as…[Read more]

When were you advised of this change in settlement date? It appears that they MUST have known for quite some time of the change in completion dates and have failed to properly advise you ASAP. Note: Is notification by email an approved method of notification within the terms of your contract? If not, then the clock may be able to be 'reset'.The…[Read more]

Sounds a little spongy to me…..check it out quick as a change of date of 12 months is not 'helpful'.

Get Landlord insurance as a MUST. My policy costs less than one weeks rent and can cover up to 12 months rent if more than AU$1,000 of damage is deliberately caused.As for the damaged tiles etc, the tenants would be liable as they [should] have a legal obligation written into the contract to contact the agent or the owner [within 24 hours] of any…[Read more]

I would have thought that if you have a contract with a [fixed] settlement date in 2012 then that is the date and not a day sooner UNLESS you agree (in writing)?Re-read your contract and tell us what is says please.

Hi Burnsy,Can you please email me and lets talk $'s.

You should claim back against the tenants bond to FULLY repair the damage (no matter how it is caused). Damage is damage, even if it was accidental and must be paid for by the tenant.I would be asking when this damage occured as it shoul dhave been picked up in the 3 monthly property inspection reports and not left until the end of a lease.I am a…[Read more]

Qlds007,Can you send me the same article please?

Make sure they offer a guarantee. ie: If the job is delayed due to the plans being wrong or incomplete then they should pay for the delay costs of your builder and lost of profits (rent) or additional interest costs.A good drafting business will/should have insurance and be more than willing to stand by their product; if not, look elsewhere.They…[Read more]

You are entitled to remove your property away from this group, with or without a contract still in force. Your contract was with another company so terminate it quick, making sure they do not hold over the next months rent.There will proberbly be a clause in your origional contract stating that the managering agent is entitled to sell your…[Read more]

I aggree, do NOT rush into an offer.As for the clause: "subject to finance" make sure it reads.."subject to finance on terms acceptable to the buyer". To do otherwise would leave you liable if th ebank says YES but on terms that are too expensive to you.

Not to worry, I fired them last Dec.

While you may be able to finance it 100%, its not the best use of your cash.  Cash is king and can be used in other areas while the building is going on to generate additional funds to add to your kitty.Selling off the plan is the best way to get finance from the banks to save your cash. The deposit from the end buyers also adds to your cash flow…[Read more]

Worth case, take the loan based on $400K then 'refinance' in under 3 months [as the valuations usially only last 3 months] (with the bank that has valued it at $500K) and use the additional equity to re-invest with another property.Make sure you get a copy of the $500K valuation….kill somebody if you have to

Go for delayed settlement on one property.Get immediate access to both properties to allow you to complete the renos ASAP.The tenant woul dbe entitled to FREE rent (cheap at 1/2 the price as you will add $1,000s to your valuations.Have the valuations completed WITH the renos taken into account; you will need 3 quotes for each item (painting,…[Read more]

Try spliting them into different Trusts. Go to several different banks, one for each Trust; each of them using you as a guarantor. As you do not (yet) have a liquidated debt, you can act as the guarantor.This will also allow you to borrow much more in the long run.

http://news.domain.com.au/investor-centre Try this site for IP returns.