Forum Replies Created
Just lump all of your concerns into a Due Diligence clause and walk away if it doesn’t come off.
I generally find they are either ;
(a) Wearing sunglasses if it’s hot
(b) Wearing a trench coat if it’s cold
(c) Or sometimes the really tricky auctioneers pull the dummy bids from the nearest tree, or if inside, from the back curtain.I’ve attended many, but neither bought nor sold at auction and probably never would…don’t like the tactics and smoke and mirrors involved.
Just once, that’s all it would take, I’d like those sycophant agents to crawl up and whisper in my ear during the bidding as they always seem to do to hapless bidders…what an earful I’d give both them and the circus ringleader up the front.
I reckon give up, you’ll never outsmart the dodgy auctioneer and his/her all singing all dancing charade and move onto a proper sale method.
We have a clause in our Lease where the main Lessee can subjogate a portion of their rights and responsibilities under the Lease, as long as the Assignee fully takes up the load as pertained in the Lease.
The situation you describe however, appears that the main Lessee has gone 100% walkabout and you wish to fully replace the Lessee, not assign a portion of the Lease to a sub-Lessee.
In this case why not just cancel the Lease with the old Lessee, and draw up an identical Lease with the new Lessee on the front and make them sign it. No assignment necessary from what you have described.
Dutch,
I’m sure you don’t mean that really in your title…emotional soothing…what on Earth is that in the hard nosed banking/legal world that you chose to enter ???
I’m sure you’ve read all of the documents that you’ve no doubt had to sign to obtain the loan and are fully aware of your commitments made to the Bank for graciously allowing you to borrow their investors funds such that you could purchase an asset that you were unable to afford on your own.
Surely you read the documents, did your calculations and then made your decision whether to sign the documents and proceed or not. It looks like you chose to proceed so why do you require emotional soothing ??
Or is this in fact a girly girly hugging B.H.W.U.M.A. type thing that is whistling straight past me ?? Call me harsh…no problem…but please don’t tell me you are surprised at the figures and now want a hug from the Bank ??
IMO banks aren’t nasty either, they are one of my closest business partners who I always take seriously. They leave emotion out of it and so do I…which we both appreciate.
Real estate and Banking is a bit like how Tom Hanks described baseball to an emotional girl in the dugout in ‘A League of their own’ when he castigated “There’s no crying in Baseball”.
Hey this is cool, I might have a crack at this myself….
Frugality
Achievement
Intelligence
Learning
Uplifting
Resourceful
Energeticand
Slothfulness
Uncompromising
Credit
Cards
Emotional
Spiteful
SuperciliousIt seems you can make anything up as you go along….and hence I don’t see the…
Pointless
Obtuse
Irrelevant
Nonsense
Trivialof doing this type of word “w**k” exercise. But maybe that’s just,
Meek
EagerI like things outside the boxYou most certainly do my friend. You’re one in a million Mr gross.
Your posts always bring a smile to my face…after about 5 minutes or so…being forced to re-read 4 times what the hell you are going on about. Onya matey.
Garrrd Bless Amerrrica….
I bet Calvin’s ol’ man doesn’t have squirrels for neighbours like I have…who are all tee-totalling, Act quoting solicitor wannabes.
They’d drag his sorry ar$e in court for defamation of character and inducement of an intoxicating substance whilst trying to subterfuge an upper hand in domestic litigation.
I’d be up for it though, I’d sell my own mother for a good ol’ chop and snag, and maybe a bit of pav for sweets…[biggrin]
Back to Marisa’s question, I reckon the solution is pretty clear ;
1. Neighbour wants tree removed.
2. Cost to remove is +/- $ 1,000.Solution : Neighbour pays $ 1,000 to have tree removed.
What’s the big deal ??? Oh, as usual people want to impose their will on others, but expect the ‘others’ to pay for it….hence drama.
Hi Allan,
This question seems to pop up about every week or so.
Umm, yes they do exist. By 10.4% I suppose you mean gross rental return. Yes, they exist, but I doubt whether they are simply sitting there on the net for all of Oz to view, just waiting for Sharon from Rockhampton or Thomas from Launceston or Barry from Katherine to simply snap up.
Usually they are tucked away where locals are sniffing around, jumping on things the day they are listed. If I was an agent, I certainly wouldn’t advertise on the net if I had 4 or 5 hungry clients just champing at the bit looking to sign on the dotted line.
Sure, the dross I couldn’t shift that the eager beavers didn’t want…sure pop it on the net for all and sundry to fight over, but you are generally getting the slops…to utilise a most elegant phrase.
Our group breathed some life into a dingy old complex of rusty old sheds earlier this year. They were doing 4.3% gross yield and probably were similar to what you are passing over right now on the web. I know we were about 6 or 8 months late on the scene, but no-one else was interested so we had a crack at it. Bought it for literally land value only…paid nothing for the 6 sheds or the accompanying tenants (some might say we paid too much for those), and now after 6 months of hard grind and butting heads with very difficult people, we have a fully signed up and leased out group of sheds doing 15.5% gross.
I’m sure these exist in all states (ours is on 1.5 acres 7km from the CBD). It suits us to have people pay our way whilst we pick up the growth on the land while organising ourselves to see what development potential the land has.
They are there Big Al, you just need to scurry around in the chestnut pile and pick yourself out a real winner.
Hiya NEWGEN,
Well…I suppose you haven’t found the support you were initially hoping for.
Sitting on the sidelines reading all of the above it is clear to me the root cause of your troubles is the laying of the new tiles (a finishing trade) before any of the primary work has been completed.
With the actual kitchen being installed on Sunday I hope you are now prepared to protect the tiles with a foam or cardboard covering. How will the cupboards go abutting against the tiling, or is the tiling across the entire floor ??
When the tiler came in and laid the new tiles, did he or she mention anything about job order after you told him / her your plans for the room, and what the full workscope was going to be ??
In your defence, I’ve found many tradesmen to be very arrogant, especially in this climate where everyone is encouraging their children to go to Uni and get a degree…and hence there is a short supply.
This attitude of “I’m my own boss, I don’t answer to nobody, nobody tells me what to do” has certainly become more prevalent with all of the reno’s and building craze over the past couple of years. Ask any tradesman and when you get to the heart of the matter that’s what they really value…being their own boss and answering to no-one. A bit like the farmer attitude.
NEWGEN, count your lucky stars, I have it far worse than you. My father-in-law does most of our electrical work (paid of course…no freebies here…I keep asking him if he wants an oil well drilled in his backyard, but unfortunately there’s not a big demand for those here in Oz, so I don’t really have much to swap…
He’s a sparky and a farmer and a relly, a triple whammy combo headed for disaster when I’m not happy with the work standard. He’s half way thru re-wiring our PPoR at the moment and has wires hanging out and switching dangling out of the wall by live threads. He left 2 weeks ago to go back to the farm and doesn’t know when he’ll be back. If I say anything it’s on for young and old in WWIII.
I wish I had your problem. [blush2]
I think the “applied knowledge” is the key. Knowing what you should of done is never enough. How many people have heard the previous generation say things like “We had the opportunity to purchase (insert fantastic asset) but didn’t and now look what’s happened to it”.
My Nanna once held the entire suburb of Morley in Perth, but sold it on the advice of her husband so he could buy a combine harvester and take the crop off without having to pay contractors come up and do it from Midland….hmmmm.
I think happy and content people are busy people. If you have plenty of time on your hands you have lots of time to absorb all of the negative vibes that are constantly bombarbing you with life’s external and most sensationalised beat up miseries.
My biggest two tips for keeping happy and vibrant are to ;
1. Turn off the TV and never turn it back on.
2. Turn off the radio in the car – listen to tapes / CD’s etc.I go weeks and sometimes months without getting my fix of Australian TV and radio, and it does me wonders. When I see or hear it again, I’m not surprised to see that nothing has changed and there are the same old tired faces whinging about the latest brawl they are having with someone with equal power to them.
Buying something that both makes money and appreciates for you (no matter how small) also gives you a little boost….well, does for me anyway.
Yes it most definitely is. Good luck with your searching.
Onya G7, you’re an IT legend….that’s the one.
2004 :
1. Recovered from a fairly average position in Feb, where we found ourselves with no job, no home, no car, no school for kids, no bank accounts. Lost waifs in a big bad world.
2. Found rotational employment overseas.
3. Got the kids back into school.
4. Moved 6 times…a tad stressful.
5. Found a home.
6. Bought a car.
7. Accumulated 2 more IP’s.
8. Lost 14kg of fat, gained 4kg of muscle.
9. Celebrated 10 years of happy marriage.
10. Met the bin Laden clan, currently my next door neighbours.
11. Ate in a crowded restaurant where I was the only one not packing an AK47.2005 : May as well make it specific – cannot hit a fuzzy target…
1. Get a job back in Oz. Nope…by choice though, been offered plenty of jobs back in Oz. The fully taxable salary paid in AUD sucks big chocky rocks.
2. Live permanently with my wife and kids again. Nope…still only 43% of the time, but that time is far better quality than normal office hours allow.
3. Buy 3 more CIP’s or IIP’s. Yep, 3 land titles with 9 IIP’s on them.
4. Lose another 5kg of fat and put on another 5kg of muscle. Yep, lost 6kg of fat and put another 5 kg of muscle on.
5. Eat in a restaurant where no-one has a gun. Yep – done.
6. Celebrate 11 years of happy marriage. Yep – and I’ll actually be here for the anniversary this time.
7. Teach my eldest to do Maths. Done. From 1 times table thru to the lot easy peasy.
8. Teach my middle one to read. Done. Phew.
9. Teach my youngest to talk. Done. But a struggle.
10. Let my kids teach me how to have fun. Just finished playing chasey, “What’s the time Mr Wolf”…love that dinner time…and duck duck goose. 11. Start volunteer work. Nope. Signed up as a volunteer for Meals on Wheels in August, but haven’t actually done it yet. Looking forward to the chats with the older folk.Got most of them I suppose.
Well…I’d have to say that ’05 was definitely a far better year than ’04…I can feel it in my bones that ’06 is going to be the year where it all just clicks.
Howza ’bout everyone else ??
Would others agree that with the bigger purchase priced property generally the returns are better.??Why would this be the case??
Yes, John, I would agree that the bigger the deal, usually the better the return. This sometimes balanced out with aspects like having tenants like the Fed. Govt. The lease usually doesn’t read that well – a standard Solicitor General’s lease – and the yield isn’t too flash, but…then the rent usually gets paid.
I think the deals get better, the bigger they are, as you are dealing with principals of businesses where locating the right premises is crucial to their business objectives, as these are usually running at a nice profit margin, say > 15%, they don’t mind at all paying a substantial sum to have a dominant presence in some high class prop. The trick is being able to pick this type of CIP or IIP up at a decent price.
It’s also pleasant dealing with individuals who have money, are very used to dealing and reading and committing to contracts. When they say something, they commit to it in writing and then follow through with the action…rather than dealing with people who have never read a contract and don’t associate signing a contract with actually having to follow through with what is in the contract, or dealing you up with 7 domestic excuses as to why they failed you with their previous undertaking. Sorry…scratchy record I know.
Just as a casual observation, why is everyone on this forum suddenly looking at commercial properties ?? I’ve been told by very intelligent people they are extremely risky and capital growth returns are very poor indeed. Personally, I wouldn’t have a bar of them myself…each to his own though. [biggrin]
Good luck to you all in whatever endeavours you choose.
Oh, and Simon, I agree with GR, don’t be so harsh with me…you’ll hurt my delicate feelings.
the worst thing that will happen is that there will automatically be a 50/50 split…
Is that so bad?Celivia,
If you speak to a few ten’s of thousands of father’s who have been dragged through the Family Court since ’76, I think you’ll find they can only dream of a 50/50….I have not a clue what the % split would be of the irrelevant monetary side of things, but apparently it’s all linked to the provision of a stable homelife for the children….and that’s where it all goes askew.
As I said before, whoever is granted custody of the children has received a 100/0 split. Apparently only in the most unusual or exceptional circumstances is this not the mother.
Hopefully I shall never need to travel down this most dreadful of paths to ever find out…
Hey X,
Just tried again for 20 minutes but I don’t find the search engine on this puppy too useful.
Is there an IT guru out there somewhere who can dig that kind of stuff back out ??
It was something like “Goals for 2005″…in about Jan or Feb this year….heaps of people contributed.
Where’s Simon when you really need him ??
X,
I have not the faintest clue what a NLP is ???
Ummm, double negative region, “what wouldn’t happen if you didn’t”…..is that the same as “what would happen if you did”….I’m simply not intelligent enough to understand what you are asking ???
More to the point, did island dream get anything out of it ??
Whatsa RIP ??? [biggrin]
Hi island dream,
***** This is not advice ************
Perhaps, maybe, someone else, but definitely not me, would suggest, maybe, the below ;
“The Landlord offers a renewal of this Lease to the Tenant, herein refered to as the Option period, on the terms specified in this clause which the Tenant must accept strictly in accordance with the provisions contained in this clause, otherwise the Option period shall lapse.
The Tenant may only accept this offer and exercise the Option if the Tenant shall have served on the Landlord notice of exercise of this Option not less than 3 months and not more than 6 months prior to the expiry of the original Term of the Lease, containing identical covenants to the covenants of the Lease (excepting this clause), at a rental rate which shall be determined in accordance with this Lease on the dates and by the method as described in the original Schedule of the Lease.”
***** This is not advice ************
Now I definitely wouldn’t use the above for the wording of an Option clause, but someone else may if they were so inclined. [blush2]
Our plan for next year is to purchase the office and warehouse structures next door to our current warehouses. If we pull our finger out we may be able to get this accomplished before the end of this year.
The wife is dead keen to extend our PPoR so there could be some NTDD being carried which should slow things down somewhat….but as I am constantly reminded the lifestyle factor will apparently go thru the roof, along with the debt.
We’ve shown the Bank we can manage decent sums of money and their confidence in our operation has increased somewhat, and hence, this time next year we were planning on having a crack at a big CBD office block, which should be sufficiently CF+ve for me to give up working….that’s the plan anyway….the intelligent Sydney people at the Bank might have something to say about that though.
I remember a thread in about January this year about writing down our goals for 2005. Tried looking for it, but failed miserably…maybe someone clever can dig it up….would be good to check off what we said vs what was really achieved….on second thoughts maybe not such a good idea !!
