Avranjes – Good post. Perhaps try your state REI for their farcical, unenforceable “Code of Conduct”, it’ll be a guide at best but the agents are not lawfully bound by any means to follow them.

My father was disappointed a few years back when he successfully bid on a property at auction and after the crowd dissipated and contracts exchanged, the…[Read more]

In general this has been a very positive thread with some good suggestions from all concerned.

Unfortunately I have very little positive to say about my experiences with students. I was once a student renter myself so cut them a bit of slack whenever I could. Finally woke up to myself and realised my objective wasn’t to wet nurse them, but…[Read more]

I’ve found in the past the members of REIWA are a very tight knit bunch…in fact they have a very tidy little monopoly going on over here in the West – as alluded to previously.

We decided we didn’t like playing their game, with the standard line trotted out of “I’m sorry, we don’t negotiate on fees. You’ll have to downgrade to a lesser manager…[Read more]

I suppose we are all going to do exactly what the older folks amongst us did the last time..[blink]position ourselves to weather the imagined ‘storm’, and then get set for the next ramp up. Kaching kaching…[cigar]

Cheers,

Dazzling

“Go hard or go home”

Jules,

It’s not a big problem.

The property’s greatest attribute will always be the dirt, and more specifically how much of it you’ve got and where it is.

Do what the ‘experts’ do, walk around with a flashlight and a screwdriver…it ain’t too technical

Cheers,

Dazzling

“Go hard or go home”

Paul,

In short, to your questions – yes there is plenty around.

Having just exchanged contracts on a deal two days ago, we are now out of the market for a while whilst we consolidate our position and expand our core of expertise.

I have 16 props left on my research list that are all +CF, given a 100% loan with stamp duty thrown in as well.

I…[Read more]

Chaps,

That may be an effective solution if you are most like people and have very little to lose.

I thought the objective of property investing was to firstly accumulate wealth and secondly to preserve and protect it.

Going around swinging bats and causing injury or evicting tenants unlawfully is a fantastic and very effective way of undoing…[Read more]

Gatsby,

Bought an upmarket IIP last year with a gym as the tenant.

Is doing fine…happy with the purchase.

Due diligence on the tenant, and their financial viability is vital.

Tenant is one of these hardcore gyms, none of this fluffy girly stuff. Lotsa cast iron…came with the property deal, so the wife most of the hardcore iron being…[Read more]

LK,

My philosophy has to always keep the lawyers and solicitors out of it and everything shall be OK.

Before you know it Seller and Buyer will be countersuing each other and slapping caveats on titles over a $ 20 retic widget. At the rate quoted of 270 + GST, the part is worth 4 minutes of lawyer time.

As one of the senators was quoted off ‘GI…[Read more]

Rob,

What exactly do you mean by ‘struck an agreement’…doesn’t sound too legally binding ??

Cheers,

Dazzling

“Go hard or go home”

Marisa,

We were in the same position as you a couple of years ago. Numbers didn’t stack up after agent fees / CGT etc so we very reluctantly began renting out the holiday house. Hasn’t been an issue for us. Our reluctancy was unfounded.

We didn’t want to pay all the fees and taxes in the sales process, and also missing out on the future…[Read more]

Mark76g,

Well…where do I start…our philosophy for the past year and a bit has been to steer clear of RIP’s and so far it’s been marvellous. I can see many years to come of never having to buy a house again.

We sat down and did the whole pros and cons list of both and it won hands down to move towards Comm & Ind.

We don’t support all these…[Read more]

Ty,

My understanding is…yes and yes.

Cheers,

Dazzling

“Go hard or go home”

Generally speaking no…however,

In the middle of settlement process with a Steptoe and Son type industrial place that has 6 units on it…The vendors occupy 2 units – obviously no lease there, 3 are on verbals agreements only and have been for the past 15+ years….joy – I’m looking forward to introducing them all to the reality of formal,…[Read more]

PK,

Easiest way is to formally request in writing to do the 6 week inspection with the minimum notice period applicable for your state. They’ll be in there shuffling the hydroponic systems like nobody’s business.

Your lease should have a clause there stating the tenant is not to conduct any unlawful activity on the rented premises.

Failing all…[Read more]

Well,

Bit of an update…

We are having a bit of a gathering of forumites over here in Perth shortly and the Social Director has agreed to attend, so hopefully this shall expose her to all sorts of like minded ladies.

Oh, and the executive summary has increased to 5 minutes…this is how long it takes to fold the washing up together…yes, I’m…[Read more]

Pen,

Just went to an Investors Club meeting, where the head honcho stood up and told everyone that these CF+ props were a fantasy and to get back to the good old fashioned solid CF- props.

I nearly coughed my dinner up.

I’ve currently got 19 on my list that are all seriously CF+, with another two that came in this afternoon, one which easily…[Read more]

Marisa,

What are you calling big $ ??

The suburbs you mentioned in Perth currently have many preoperties that I am evaluating that screen very well.

I am reluctant to look at Karratha as there are too many good deals down here.

My only hurdle is the bank….in terms of properties, there’s oodles that qualify.

Cheers,

Dazzling

“Go hard or go home”

Wylie,

I’m with you. Glad to hear some people have been doing it by themselves for a long time. Of course, I’ve spoken with many older people who have managing by themselves quite large portfoilio’s for donkeys – but aren’t computer literate so you seldom hear from them on forums such as this.

Seven years ago my wife and I arrived at a…[Read more]

Jan,

I’ve found alot of people get tripped up on the frontage before. The REA advertise as duplex or triplex ‘potential’….WOW – watch that word very carefully….but then when you front up to the Council all of the sobering facts come out and more often than not the ‘potential’ turns into a flat NO…or at best it turns into a maybe, with…[Read more]