Well that surprised the hell out of me !!! Living in Canberra and all…

I was expecting to read something about being pals with Janette Howard !!! [lmao] [lmao]

Don’t be afraid to walk away if you are not happy.

Exactly…it all comes down to how much you want the place.

But then I’m assuming that since you put an offer in on the place, it fundamentally has some attraction to you (location / yield / growth – whatever).

Water stain damage – regardless of how bad it is – is a fly speck compared to these…[Read more]

we overpaid for a 2 bedroom unit in a relatively good capital growth area. Paid 158,000 – renovated for 15,000, all on 100% lend. So need 180,000 just to cover mortgage.

OK – not so good – you’ve got yourself into a pickle. You realise this will cost.

If we sold for a realistic price of 167,000 after agents fees, it will leave us with 15,000…[Read more]

C@34,

Should be zero mate for your PPoR ??? Is something unusual ??

Great post Richard. Inspirational for all to glean off. [thumbsupanim]

Wizard7001, instead of answering the question “Where are they”….perhaps I can confirm where they are not – if that narrows your search down somewhat – that is straight off the shelf, no work to do, ready to be plucked off from some great long list of any internet RE…[Read more]

Hello CoG,

My thoughts are that unless the specific wording in the clauses specifically state that you are allowed to knock off $ xx dollars if yy is found to be deficient, then the clauses are simply “walk away” clauses.

That is, you either tear up the contract and walk away or proceed as if everything is honky dory.

If I was your Vendor and…[Read more]

Hiya Benson,

Haven’t been in the country since writing that post…so no progress that I know of, but my switched on accountant has given our folder to his WA Land Tax specialist and we are waiting back from them. I suspect I’ll have some further direction in late Jan ’06.

We were forced to pay the bills as per the Act whilst we put together a…[Read more]

Heya me ol’ mate Deb,

Look, dealing in commercial property isn’t some big conspiracy where everyone walks around with heavy trenchcoats on and whispers under their breathe.

Commercial Lessee’s are just normal people like you and I. Go up and have a chat. There’s no law against having a chat with someone.

The agent probably won’t like you…[Read more]

Hi milnev, welcome to the forum,

I don’t see how anyone can possibly issue you with a sensible answer given the scant 3 lines you’ve offered, with little to no details.

Before taking your husband’s colleague’s advice (his name’s not Dazza is it – like off the TV ads ??) have you had a really good look at why exactly you seem to be having trouble…[Read more]

Same.

Specifically should I have pressed ahead and tried talking to the owner directly with or without his solicitor present to try to uncover the real story. I was happy to sign with the property not meeting the residential services Act as we were planning a substantial upgrade on the property however in no way could we open ourselves to the plethora…[Read more]

I am new to subdivisions and need some help.

OK – fair enough.

We believe

Oops – radar is up…there’s that word “believe”

We believe that … Can anyone tell me whether this sounds like a legit figure?

What is your belief based on ??

does anyone know

I guess

What else do I need to think about? What have I missed that is so…[Read more]

I had to replace glass and repair front door $250 worth of damage

Are you absolutely 100% positive about this ??

If so…why are you subjecting yourself to situations like this ??

If not…why did you do it ??

What the REA wants is 100% of the time completely irrelevant.

They are not a signatory to the contract, they are a mere bystander in the whole transaction.

They generally don’t act like it was fitting their true station in life, and hence less experienced people (in real estate transactions) sometimes get railroaded by them.

In my eyes they…[Read more]

G’day JC,

It appears the nett yield is 9.34% which is pretty good. Not mind blowing…but better than 2%…if you know what I mean. [wink]

Can I ask if the property is sitting on it’s own dirt ?? If so what is the dirt worth.

If no dirt, you are buying the lease…which is OK as long as the Lessee is strong.

Best thing you can do is get the…[Read more]

How do you expect your offer will stand out and be attractive to the Vendors with all of those “subject to” clauses.

They aren’t interested in your future “subject to” anything. This isn’t some author or friendly seminar host your dealing with…they are real people who’ve hired professional help to get the most cash out of the deal as possible.…[Read more]

I think the mystery Mr O’Rourke to whom you refer is the one and only Rory O’Rourke, a bit of a wheel over here in Perth flogging inner city stuff and running a seminar and book or two…don’t they all ??

I think he’s also dragged his son Jayson into the “dog and pony” show. At around 25 he’s an expert as well, advising 50 and 60 year olds how…[Read more]

We’ve used a pen, paper, calculator and ruler to do the job just fine. These highly technical instruments did us fine for the first 4 or 5.

We then went really high tec and graduated to a computer.

Excel now does us just fine.

I have a 2br unit in Qbn, it has been continuously rented since I bought it, it is very close to positive gearing (in fact could be, but I want to keep the rent down to keep the tenant)I am able to manage it myself so less costs there.
I think this type of investment is sound

This makes no sense to me either….sounds like something a…[Read more]

$8.22 per day before tax….

Take another look at the deal Deb, one event re: the property will chew that up in no time at all.