Hi Margaret,

I can only offer you generalist type suggestions given the info provided, so here goes ;

1. Highly recommend with your first foray in CIP’s to purchase a “going concern”, where the prop. has a good paying tenant in situ. Buying a building and then looking for tenants whilst paying holding costs really is jumping in the deep…[Read more]

Update….

I have just returned from the warehouse and have two signed and executed copies of the lease in my hot little hand. Both the tenant and ourselves are extremely happy with the way things turned out…probably because the lawyer wasn’t there to stuff everything up.

Well, that’s that property all signed up and out of our hair for the…[Read more]

Hiya mkofsky,

I saw the result of what you are proposing about 15 years ago before I had got into the prop. market.

My elder sister was going out with a nice young Polish boy. He was one of 4 also. His Polish parents had the same ambition as yourself and had achieved it. When the son was 21 they issued him with the title deeds of the prop, a…[Read more]

1. She’s moving out to get more room for the baby…flip.
2. Her circumstances have changed….double flip.
3. Wants an A/C for the baby…double flip with a half turn pike.

Ummm, what happened – did she get rid of the baby for a while and now the baby is back again ??

This is exactly why we don’t invest in this type of prop. Being forced to…[Read more]

Hi Redwing,

We rent out our 3 bedroom beach shack as fully furnished.

Everything is provided except the linen…not good cleaning up after other people’s “activities”…strongly advise not to go down that path.

The furniture is literally a dumping ground of our ‘seconds’, but unlike the city, people have a lower expectation when they go there.…[Read more]

Having been beaten around the head and shoulders with the Ugly Stick, my Avatar bears not a jot to my resemblance.

I thought I’d pick the handsome chap as a sort of reverse double flip with a half twist ?? Was thinking of having a real “girlie girl” Avatar, but I thought it’d just confuse people too much. I’ve noticed most people pick the same…[Read more]

Clones,

Here we go again…

I reckon at least half of your postings have attached doom and gloom stories from “experts”.

I also reckon that if you spent half the time hunting down excellent investment properties that really ZING, as you do hunting down gloomy predictions from “experts”, you’d be well on your way.

You can’t spot juicy little…[Read more]

What’s the diff when the snarling dogs are snapping at your heals ??

Regarding the Telemarketers from India.

You have to remember that they get paid less than 2 dollars an hour and can hardly afford to put food in there families stomachs and have a roof over there heads.

So next time you decide to be rude to these people because they called you during dinner, just remember that they probably can’t afford to eat…[Read more]

Seeing as though you’ve put this article in the Help needed section, what help exactly are you seeking ??

Hey furnz, you probably are on the right track…it’s just there are many lanes on the track…do you reckon you are in lane 1 or maybe out in lanes 7 or 8 ?? Better to be on the track at least – hey.

There are many ways to make money in RE, I am certainly not advocating you are doing badly. Who knows, you may be receiving 35% growth on your…[Read more]

Hi furnz,

Your current situation is totally unknown as you haven’t provided critical input.

What it will look like after your proposed changes looks a bit like this from where I sit….which is pretty foggy as the details you’ve provided…once again…are real thin…

Gross rents (best case scenario) = $ 33.5K p.a.

Interest only at say 7% on…[Read more]

Are there any council laws, to be able to do this? I won’t be living there myself.

Hi Solomon,

I imagine after those fires in Queensland in the past couple of years where many backpackers and other ‘single room renters’ died, the council regulations controlling that type of accomodation have been tightened up enormously.

You’ll need to go…[Read more]

This comparison of course assumes that one has a mortgage.

Buying some dodgy little hovel for 70 or 80K as your first PPoR and paying cash on the nose may affect things a tad.

There’s so many assumptions to that article it makes it almost impossible to take it seriously.

I’m of the opinion 20 yr olds just starting out in their financial life,…[Read more]

Hey Bob,

Unless you or your target market have little kids, my belief is that the bath is a complete waste of space and should be turfed out altogether. Many people I’ve spoken to where the youngest in the family is above about 5…the bath becomes a bit of a white elephant.

My choice would be just to have a shower only. Spend the extra…[Read more]

Of late we have been receiving tele-marketing calls from India. This is classic for me ‘cos I deal with TCN’s all the time at work.

When they try and convince me to buy whatever it is they are flogging, I insist that they go through the ingredients….one by one….for a good traditional Madras curry.

They normally just hang up…[Read more]

Hi LFA,

We set up a different co and different trust for each title of land purchased. That way there is supposedly reduced risk of legal exposure if something goes wrong with a prop in the trust. The rest are isolated from the problem….or so they say…I’ve never had to test the lawyer’s advice in a vicious court battle. Anshallah !!!…[Read more]

I agree Redwing….looks almost identical….these agencies wiping the noses of tenants must talk to one another.

What an absolutely disgraceful set of rules that one must abide by. It’s conditions such as those and then some ;

“A Landlord must not….”insert good thing”…”

“A tenant may….”insert bad thing”….”

This would have to be one…[Read more]

Great question WASP…really get’s people off their toosh…

We are up to our eyeballs and equity has become the limiting factor. Bank was reluctant to lend us any more due to some of our ‘distressed buys’ not having surety of income. Verbal and no leases at all don’t cut the mustard.

We’ve been personally negotiating our little sox off (would…[Read more]

based on their comments all the market is rose colour.

Absolutely not Clones. Never – not once – have you ever heard me talk about ‘the market’ or other high level musings.

I am very much a “down in the weeds” type of investor….head down, nose to the ground, scrounging through the myriad of dross out there in ‘the market’, sniffing out that…[Read more]