The last time I went through a REIWA standard management contract with the PM sitting across the table – 5 years ago – this sector on “gross collections” was one of the first to get scrubbed out.

All of the other REIWA standard clauses also got scrubbed, especially section 10 regarding terminating the PM’s services. Always scrub that one, as I…[Read more]

Would love to catch up grossy, but I won’t be in the country then.

You seem very interesting with your techniques.

Like you, I don’t drink beer too much…maybe a rain check.

When I’m next in Sydeny, I’ll drop in and say g’day. [biggrin]

Yes it should be easy, especially if the Lessee plays the game and wants to extend.

Our last purchase inherited a tenant on a 3x2x1 lease, with only 6 months to go with the final option. We simply typed it up on a one page piece of paper stating the new nett rent to be paid, new lease term and option (4×2 woohoo !!), new escalation rate p.a. of…[Read more]

At the tribunal, the PM was left waiting for an hour while they heard the tenants sob story.
Ah well

I’ve heard PM’s usually charge $ 85 to 90 per hour to represent you. I don’t suppose you’ve seen the bill yet for him / her to stand there waiting. I also don’t suppose the tenant is going to chip in for that expense either.

Involving and…[Read more]

hi dazzling

Well hello to you too grossy…hey matey…don’t confuse me with vexil…???

for those of you who believe

Heya F,

Nice post with well supported data.

I think you’ve hit the nail on the head there. If you have a look at most of the posts on this and other forums, ‘most people’ will included the phrases “I believe” or “we feel” to substantiate their point, which of course has no bearing on the subject matter to…[Read more]

So Toni, given your recent experience and the glaring example of your lack of ‘control’ that you actually have as a Registered Proprietor of a residential property in a Lease situation, what is your opinion of the ‘whole show’ as a way of making money…both growth and income ??

Any suggestions for those contemplating doing the same ??

What do…[Read more]

If it’s within riding distance of the School of Mines campus, I’d be renting it out to a couple of 2nd, 3rd or preferably 4th yr students. I say 4th yr students, ‘cos they are quite serious and usually want to finish their degrees and are usually quite organised by that stage.

Give the REA the flick, and have a chat with Rufus Davies who’s…[Read more]

Yep, I’ve got a few thoughts.

1. I’d shake the guys hand and say well done, you’ve ‘made it’.

2. I envy their independent financial position. They probably take the part time jobs more for the social interaction, keep themselves mentally active and keep abreast of the community issues. It sounds like they don’t need the money.

3. I reckon…[Read more]

For the tractor lovers I have a 1950’s Fordson Major Kero/Petrol she has one way hydraulics a 3pl and PTO – way ahead of her time! I have various other contraptions around the place, but nothing anyone here would be interested in.

Hi jenwren, I reckon you’d be able to sit down with my father and while away the hours swapping stories over a few…[Read more]

One of the largest risks with a site such as you are looking at is site contamination….doesn’t matter what it is (grease / oil / petrol / heavy metals etc etc) it will cost you big time as Lessor to rectify if indeed you are responsible. In the councils eyes, as you will be the Registered Proprietor on the title you are responsible.

Check the…[Read more]

Of course not….and for a very good reason. It’s copyrighted for their fully paid up members. What you are asking for is against alot of laws. Pedantic and supercilious I know, but that’s the Law by Lawyers for ya.

Their solicitors don’t take too kindly to the younger generation who naturally expect everything to be free and readily…[Read more]

John,

Writing a commercial lease is not rocket science. It’s highly over-rated actually, although the experts will definitely say that it is very unwise to reduce their revenues and far better to give them the job.

In terms of length of lease vs cost, a water tight lease takes the same amount of time and mental effort to write up a 6 month…[Read more]

Assuming of course you can cajole the entire gaggle of former owners to sell en masse or in a reasonable time frame. I see this as the fatal flaw in the strategy.

I find trying to get 2 separate parties to agree on all terms and conditions hard enough. If it involved 10 or 12 separate parties, given human beings and how they all think…[Read more]

Assuming you intend to leave your money in the asset field and don’t go and purchase a great big bag of lollies with the proceeds, selling to me is akin to jumping from one investment vehicle to the next, as you travel along down the road of wealth.

Makes sense I suppose if your old jalopy is stuck by the side of the road with two flat tyres and…[Read more]

Nah, I think you’ll find Mr blogs that the people with that sort of wealth / power that you are describing do not invest in the things that you are looking at.

Reducing the price somehow of the “assets” that you are capable of, and interested in buying doesn’t – in general – interest them one bit.

Excellent post shake-the-disease. Well done.

Reluctant to go through the nitty gritty, but for the benefit of those interested, I’d have to distill a 75 day process ;

1. House put up for sale.

2. Neighbours make an offer directly with agent during first home open. Full price. Their names and address clearly shown on contract. Finance, white ant and building inspection conditions…[Read more]

Back in ’97 when we were completely unaware we sold our 2nd IP to a “and/or nominee” and got royally done over by the wily next door neighbours. Cost us 16K.

Not that I’d sell any more of our holdings, but if I ever saw another “and/or nominee” from a purchaser I would take great delight in tearing up the offer and throwing it straight into the…[Read more]

HB and Dazzling, with the greatest of respect you are are NOT reading the Question!!

If KT had the deposit, this post would not have been written. Here is a person who has found a GREAT opportunity to advance financially and is being held back by lack of deposit. Dont knock the fact the deposit is not there , find a solution to the…[Read more]