You missed the point. It was a bit of a whine and was meant to foster a few laughs with others’ whinges, but you put an end to that by not playing the game.

Good on you Simon for not playing the game.

We could always go back to “what car do you drive”? – snooooooze.

Yep, I suppose we could. That thread however, has been one of the most…[Read more]

I am a bit concerned about the timing. I do not really have the time to purchase a ‘problem’ house & turn this into a postiive geared outcome due to work/family commitments. Also as I understand the market it is some time before we can expect capital growth.

Howdy Tiger,

Two things.

1. If you don’t want to buy a problem house – which…[Read more]

Couldn’t resist…..being a number crunching type of guy.

17 million tonnes every year sounds such alot, very headline grabbing, until you have a bit of a think about it.

Area of Oz is 7.7 million square kilometres.

On average then 2.2 tonnes is dumped p.a. in every square kilometre. Not bad for 20 million people.

Or, to bring it back to…[Read more]

Well folks, today is the day…in more ways than one.

All of the promises, handshakes, verbal commitments, pledges and argy bargy negotiating finally came to a head today with the signing and due execution of a 15 year Lease over our property detailed above.

Final rental was 80K p.a. & GST plus all outgoings. 4% escalation clause per year.

The…[Read more]

G’day aquila,

Well, you asked for any flaws in your logic….OK.

It’s good that you’ve popped on your accounting / scientist hat and crunched the numbers.

Managing to squeeze out 5 cents a day is better than a loss – right.

The flaw I see is that maintenance figure you’ve taken at 5%. If you have estimated incorrectly, by even a smidge, and…[Read more]

My advice even thou I don’t like to go with dazzling is thats the road to take

Awwww, shucks Lawrence……you’re a sweety.

You know – deep down you know you do, you just don’t want to admit it. Good onya bloke. [biggrin]

Come and see me over in Perth some time. Hell, with your cleaning business, and my picking up everyone elses…[Read more]

G’day mk,

We self manage all of our props and like you, wouldn’t have it any other way.

We simply write them a letter 14 days prior to the inspection advising them that the Landlord, or a representative of the Landlord shall be at the property at xx:xx hrs on such a such date and please have the property ready for an inspection.

Let them know…[Read more]

Hi Dom,

I’d classify myself as a bit of a renovator. No, on second thoughts, a bit of a “muck in there and clean up the grot” type of person.

I’m into industrial sheds and the like – wouldn’t go near houses….too much fluffy stuff, plus you’ve got to pay for it, both in time and money.

The tools of the trade for my niche are trucks & bobcats…[Read more]

I may be reading this one all wrong, but if the Seller would let it go for 270, and the buyer wants to pick it up for ~ 180 or 200 or whatever, and isn’t prepared to meet the seller at 270…..and no other buyers are around sniffing, then there is absolutely no way in a month of Sunday’s it’s worth 310.

Market value is clearly defined by where a…[Read more]

I don’t know if 18K is enough to buy anything decent though- you know, I mean to use as a 10% deposit. After all where in Melbourne or QLD can you buy something half decent with $18K as a 10% deposit? After all something thats 180K is going to be a dog box in Melbourne! Or you would have to live way out in Woop/woop. Or buy a flat.

What I REALLY…[Read more]

Now this is a great deal…

Hi rumin, thanks for the PM. Well, are you going to share with us some of the numbers, after all, this game we play is a numbers game. If not, at least a nett yield figure ??

Onto the due diligence and whether you are a worrywart ??

First thing I’d be comparing is the land value vs the asking price. What is the…[Read more]

Do we do something else?

I reckon do something else currently not listed.

Now the below rough opinion is solely dependent on your better half and how much dross she will put up with of course. This stops most couples stone dead on this high speed track.

1. Go and buy the worst hovel in Hovellsville – pay cash, move in.
2. Slowly renovate at…[Read more]

It’s also a factor that lifting rates because of rising petrol, which is hurting everyone, especially the mortgae belt areas, is such a sensiive and sore area that only a very brave person would want to enter that territory.

G’day G7…. ;

Not everyone is hurting because of the high petrol prices. I absolutely love this “territory” as you put…[Read more]

Well my ambition to own an old clunker 1960’s F150 didn’t materialise when I was back in Oz. Pathetically weak excuses were conjured up in my mind, enough to make me keep the money in my pocket…..tightwad !!! says the forum in unison. [biggrin]

Scouting props and going backwards and forwards setting up the warehouses proved that one vehicle…[Read more]

I have no idea what the value of the place was, but the wife and I when we were students rented a nice 1 bedroom apartment on the top floor of a 3 storey block in Waratah Ave Randwick. We paid $ 170 p.w. the first yr and $ 175 p.w. the second year. That was back in ’92 and ’93.

We paid our rent on time and kept the place looking nice, never…[Read more]

I reckon if you chucked my little Jack Russell up there, she’d find it in about 2 minutes flat.

Have you managed to sit down and have a chat with the Owners and pick their brains a bit ???

Redwing,

I agree with the old saying “a picture says a thousand words”.

If I was explaining leverage to a novice of property financing, I’d remove both the property side and the finance side and just stick to the leveraging bit and show them a picture of a big guy trying to lift up a big rock….can’t do it without a hernia.

Next show a little…[Read more]

What is the length of lease left on both the main house and the granny flat.

Is there a clause in both where you can evict them with notice.

Calculate what the time lag effect is, w.r.t. the purchase and in costs, and go from there.

On a general note, these are exactly the type of properties I look for also. Great bones – shocking tenants.…[Read more]

I understand some investors probably like the refund at tax time but to me it makes no sense.

Absolutely 100% agree with you on that. Getting a refund at tax time obviously means you’ve paid too much during the year or you’ve made a whopping great loss somewhere along the line.

Give the refund the flick – I’d much prefer to have investments…[Read more]

My opinion is you cannot do thorough due diligence on a title without actually physically inspecting it.

Many a time, crawling through the limestone foundations on a cold winter’s morning, or the roof cavity on a hot summers day, the building inspector actually appreciates having someone next to him / her crawling through the dust and cobwebs -…[Read more]