I assume you have not made contact with the selling agent?As regards the agent getting his fees, that would also depend on when his contracct ceases (usually no more than 3 months).A corner block 'usually' gets an additional 5% space allowance in regards to block size: ie: an 1,160 sm site with a min 400sm building size (just 2 x blocks) could get…[Read more]

STOP: How did the fire start? I would suspect a naked flame (a candle). Wait for the fire department report. If it was started by the tenant, then they are liable to pay for all damages NOW. Do NOT wait to take it from their bond as there may be additional damages/unpaid rent/cleaning to do at the end of the tenancy.If they refuse to pay,…[Read more]

You can write up your offer in the following term: …this offer is open until date/time OR a shorter period should I recieve acceptance for any other offer.This allows you to submit several offers at the same time with the confidence that you will only be obliged to settle on the first offer accepted. Make sure that you also include the Date AND…[Read more]

You are paying the conveyancer so get them to do their job or find another who will…making sure you take the origional of any work they have already completed on your behalf (title searches, council rates and building permits etc).Get early ACCESS if possible as a 1/2way point, this allows you to measure up for reno etc and to have contractors…[Read more]

Asking a silly question? Why do you want to rid yourself of a cash generator?Are you looking to retire or to move onto other projects?If you need cash for additional projects, why not borrow against the equity you have built up to 'x'ly your IP projects?Failing that, if you still want to sell up and get out, why not borrow, use the equity while…[Read more]

Who gets the income from the power generated by the solar panels? Each unit may use different amounts of power; will they pay via seperate meters?…will the excess income go into the BC funds? Whos going to pay for the yearly cleaning of the water tanks?Whos going to foot the additional repair and maintenance bills in the future? This has to be…[Read more]

It is usual that owners only 'own' the inside of the property (excluding the roof space. IE They only won and control from the first layer of paint inwards.If you are worried about unlimited liability, I suggest that you convert the BC to a company with limited liability with each unit owner having a licence or share with the right to exclusvely…[Read more]

I suggest that you also get a power of attorny to sell the property as well as the option. This allows you to deal with the property (sell) as you see fit.

Are you looking to just value the property with the improvements or as a business as a going concern (with its attached cash flow)? This will have a major influence on the valuation.

Whos name is on the lease?If its just your name, you 'may' have a small amount of leverage by;a. Locking out the other partners from the leased property andb. Selling the lease to a 3rd party (if the lease allows for this and the owner agrees).You can force the termination of the partnership but this will require some court help…unless you can…[Read more]

Try the following:Start the new job abd getthe $500 a week into her pocket.Do NOT sign over the $70 loan or walk away from it.See what the partnership agreement has to say about how to end the partnership.Have the partnership valued; you may find that the value has already dropped.Remind the remaining 40% + 20% partners that their share of profits…[Read more]

Is rendering really necessary (at ~$10K+) or would a good spray paint have the same effect (~$1K if you do it yourself, with hiring the spray unit and paint)?

Tamster74,Drop me a line and let me know what you think about the program.  colinnewland@hotmail.com

To get a tenant out of a house, you would normally pay their removal costs.  You may wish to sweaten the deal by paying their rent for the same period of time they woul dhave stayed in your IP (as a last resort).  Go speak to them, they may already have found another place and are worried about having to pay 2 x rental to hold their new rental.

You will need o check to see if you own the property as 'Joint Tenanats (with a set %)' or as 'Tenants in Common' with a common interest, no matter what funds were included.I am not sure if NSW will allow you to change from one to the other at a cost to you. If your moving from TinC to JT (with a stated %) this should be quire easy.As you are not…[Read more]

Pay off the car loan ASAP (monthly) and save yourself the additional 5+% interest payments.Put the $20K into an offset account with your home loan to get a tax free benefit at the rate of your house loan.See if you can add value over the next 6 months to the house (repaint, pation, etc).Have it revalued in 6 months after all the renos done.Save…[Read more]

Unless there is a specific clause in the BC rules, politely refuse.I would also send the letter to the tenant asking the tenant to pay for the costs incurred. (Thing about including this in your next lease as a special clause).As for the offending flatmate, does your tenant have your written permission to have flatemates within your lease? NEVER…[Read more]

You are in the drivers seat, not the agent. Tell the agent you need to speak directly with the seller. The seller is the person that you want to speak directly to.If the agent refuses to arrange a sit down, send a polite letter to the seller asking for a meet. Remind them that this will speed up your final decision making process and the offer and…[Read more]

Can you have settlement moved forward several weeks? Offer free rent to the sellers for that time if they move things along or pay for them their removal csts if they move out now or pay their rent for the same period? All worth a shot..

Try greysonline.com.au