If I’ve guessed correctly, could I suggest being careful as to where you purchase in that town. I did a quick trip to the council chambers to look at the new ‘100 year” flood zones. Just thought it may be difficult getting insurance in this area especially on the north side…………
Take care
Dave []
ps Do you think the lions will go three in a row this year AD?
My thoughts are that a fax machine is an invaluable tool to use in any case but particularly when dealing with people from a distance. Even though my solicitor is fairly handy here to me in Bris, I still find that faxing him the info saves me the drive or whatever to his place.
As for your so called low offer…well if that’s what you think the property is worth then go for it but be prepared to negotiate. Try and find out some info about the vendor or speak with them directly to see if you can help them in some other way as compensation for your low offer. You just never know what’s going to turn up unless you ask, nicely of course.
I think Leigh has made some very useful and helpful suggestions and if I could just add, don’t forget to work towards a win/win outcome for everybody. Remember how Steve emphasizes that you’re dealing with people and they come before the bricks and mortar.
In Steve’s “Tales from the trenches” tape set especially the Peter Shephard tape, he uses the 11 sec rule as a “filter”. There is definitely more due diligence to be done that just assumimg the 11 sec rule is definitive in sourcing positive cashflow properties. Even if you just use Steve’s templates (which we used at his recent APIM seminar) to further evaluate the property you can save yourself a lot of grief further down the track!!!!
Both AD and myself are from the northern suburbs of Brissie. Not sure if there are any others out there on the forum lurking….please identify yourselves if you are out there…..
My house is currently insured through AAMI, BUT and it’s a big but, in reading the fine print and then phoning theses guys they won’t insure for malicious damage by anybody regardless of whether it’s the tenant or a visitor to the property.
Tip: Always read the fine print BEFORE you sign anything (sound familiar???)
Left NZ just over 13 years ago for a six month OE. Been living in Oz for nine years now. Gone back to working in the motor trade after two and a half years at uni. Left uni to take advantage of the FHOG.
Currently single, no kids so far……turn 39 this year. Just been to The APIM seminar so this was my second experience of Steve. Been to Rick Otten’s seminar twice but didn’t really get going with the info he provided.
My goal is $1000 passive income by 1 Feb 2005.
Am currently living just north of Brisbane (ex Redcliffe and now in Pine River Shire) so I guess technically you could call me a Queenslander……well the climate is a little warmer than in the southern states.
It’s 40k over the speed limit up here in Qld before you lose your licence automatically. Not suggesting that you should travel around Qld 39k above the legal limit either!!!
An accountant friend of mine in the UK has suggested that the company he works for looks at the US futures market and US Government bond rates to get an indication of where interest rates may go in say the next two years.
Please don’t ask me how or why as I know nothing about the US futures market……….anyone have any other information?????
Yes!! You can buy residential property with your self managed super fund but as has already been pointed out the big disadvantage is that you can not leverage your money for the purchase of the asset.
My understanding is that you can live in the property even as one of the beneficiaries of that super fund.