Langrabber,

For a prop worth $ 1.3MM, I’d be seeking an income of ~ 130K p.a. nett, not 54 K p.a. gross.

This deficiency of 76K plus all of your outgoing costs every year is what is killing it for you.

Maybe selling is the way to go. I can guarantee that your opportunity cost is far greater than 4.3 K p.a.

Cheers,

Dazzling

“No point having…[Read more]

Nigel,

Redwing challenged me with the exact same question about 2 or 3 months ago. Posted publicly about 9 or 10 examples of props who were all positive, and all within major cities (mostly Melbourne and Perth), but I’m sure if I spent a few hours on the net, I’d find plenty in both Sydney and Brizzy as well.

I’m not techno-clever enough to…[Read more]

The wife and I have been juggling IP’s and children now for the past 9-1/2 yrs.

We were renting and had one IP when the first one came along. We thought we were busy before, but then cranked it up a notch.

We were still renting and had two IP’s when the second one came along. We thought we were busy before, but then cranked it up a notch.

We…[Read more]

Nigel,

I’d suggest you go looking in different cubby holes before writing off the big cities for +CF with wide sweeping statements like that.

As posted before, there are +CF props in all of the major cities – undisputed fact. This is not to say however that you or your clients have the capacity or the inclination to chase these. If not, and…[Read more]

I know people with a RIP mentality never want to hear this, but the best way to avoid the situation as you describe it, is not to buy the thing in the first place. Problem solved.

In the condescending words of a recent seminar presenter “Say yes if you understand”.

Cheers,

Dazzling

“No point having a cake if you can’t eat it.”

Herb,

Have a squizz at the Tell Tale forum. Not much more to tell.

Numbers on your place look reaL good. Don’t understand why you haven’t loaded yourself up with more ??

Hey – I presume the dashes / squiggles and all that in the brackets are happy thoughts ??

Cheers,

Dazzling

“No point having a cake if you can’t eat it.”

You say it’s being managed ?? Are you sure ??

Why not step up to the plate and take the bull by the horns. If it all goes to custard it’s in your lap anyway, so why not try to do something about it yourself. Palming off to REA’s and PM’s is a sure fire way of getting an average result.

Ethics ?? You’re joking right ??

Cheers,

Dazzling

“No…[Read more]

Heya Herbage,

Nah…I’ve got a pretty thick skin…hard to upset me, everything is apples Herb…unless you’re one of those pedantic nit picking useless lawyer types.

I agree for ressy stuff, the return does seem a tad fanciful. Looks & smells a bit like the “big fish that got away”.

I’m not offended in the slightest Herb. Hope you aren’t…[Read more]

Simon,

To answer your questions, the place is a major part (45%) of a strata complex of 10 smaller unit developments built in ’97. i.e. buku depreciation write offs ($105K in the first year alone).

The tenant we have in there is a gym operator, which sounded pretty dodgy to us when we first saw it, as we all know that they typically go bust…[Read more]

I’m confused hmackay,

Are you saying all non-ressy stuff is too good to be true, or have you got your RIP only hat on and can’t/won’t believe there is a better/softer wall out there than the one you are currently beating your head against ??

Hi Steve,

My top three would be ;

1. Strategies for minimising the time and cost and stress implications when having to evict tenants who refuse to pay rent / trash the place / refuse to move.

2. Deciding what is an equitable balance for the same dollars between (a) larger land content and worse infrastructure vs (b) smaller land content…[Read more]

Hi Redwing,

Yeah we turned up and it was good for a laugh.

No we didn’t learn anything. The wife was sorely disappointed in the content. She thought the $39 event was just a teaser for the $ 1,995 event.

We got more involved though than we bargained for, with Craig referring to me in the audience every 15 minutes or so. Here I am in a room…[Read more]

Being in the oil industry, I absolutely love high oil prices. Our work commitment (the drilling schedule) is solid til mid 2008 and I’ve had two pay rises totalling 14.7% over the past 3-1/2 months.

Petrol at the bowser and slightly higher costs on everything else to account for transportation charges is extremely minor in the grand scheme of…[Read more]

Redwing,

Just got booked on….see you there maybe.

Cheers,

Dazzling

“No point having a cake if you can’t eat it.”

You may well be in the ‘right’, but it could drag out 6 years and cost you more than $ 100K+ along the way, not to mention the onset of grey hair and far worse medical problems.

One of my work colleagues is/has been going through this very same thing since 1999. It’s aged him terribly and frankly everyone in the office is fed up to the back…[Read more]

Great story Wylie…some real life tactics in that. How refreshing to read;

“Discussions are going swimmingly (pun intended) when the non-pool owners slap a letter from a solicitor requesting $25,000 for the portion of land. Situation goes from friendly discussions to solicitors letters exchanged and much heartache and possible expense in…[Read more]

s-t-d,

I agree.

Yep,

Once they are locked down with signed up 3 or 5 year leases, there really is not a lot to do.

All the hard work is in preparing the building, locating and negotiating the lease terms and conditions and finally getting them sign on the dotted line. Once you are at that stage, we see little benefit in palming it off to “managing…[Read more]

Redwing,

Called up about the seminar this morning to book myself and the wife on. It’ll be our first seminar ever.

Trouble was, as usual, got a recording and after the “leave your details after the beep” tripe, a Telstra message came on saying the voicemail messagebox was full, so we are currently stranded. We presume it’s booked out.

Oh…[Read more]

Don & Liz (which one is it….you both can’t be typing ??),

Yes I suppose there is a general trend that the props get a bit more expensive as you move on…inflation obviously plays a small part here but generally the IP’s become a bit bigger which in turn hopefully attract a more financial competent and stable tenant.

Our most recent…[Read more]