Forum Replies Created
Hi Roger 1
I am on the coast and to be honest have not been able to find anything that comes close either. Look around Southport, Surfers Paradise etc and there are literally hundreds upon hundreds going to hit the market over the next few years.
I have been keeping an eye on some of the older places in Southport. As the redevelopment proceeds you might pick up a well priced unit for on-selling to a potential developer but even a lot of those are gone.
Look for small complexes with only a few (up to 4) older units in an area near these developing areas and you might do okay.Try for at least a 2 bedroom as they are easier to rent. Usually renting them out is not a problem near town but the older places attract some questionable types sometimes.
Chevron Island isn’t too bad either for your return but it is all -ve cashflow. I think on the coast at the moment the only real opportunities are properties to be re-developed-depends how long you want to wait
markk
Happy Hunting
http://www.kentscollections.comQueensland stamp duty rates (with a calculator) at
http://www.osr.qld.gov.aumarkk
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http://www.kentscollections.comWorks in Qld too.
I would be surprised if they can’t do it. Keep asking around. If it’s a good deal-never say die!markk
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http://www.kentscollections.comHi Gamay
RE Agents can be good and bad. It seems you struck the latter. In some places the agent is required to submit all written offers regardless of how silly.
If it was me I would do one of two things
1) Find out the owners name and address (local council is usually the easy way) and write to them directly with your offer
2) Go to another agent (maybe one of the better ones you have dealt with) and make the offer through them. This will really bug the first agent because then he will have to split his commission.
Basically I would avoid the agent all together if he is going to be prohibitive.
Good Luck
markk
Happy Hunting
http://www.kentscollections.comHi Windcloud
There isn’t much pos cashflow in Brisbane itself. A few bedsitter type places but they can be a risk and not a lot of chance of capital gain.
If you are looking for areas to invest it seems that west of Bris (Ipswich etc) is the go -I just bought one there myself which with a little work could be cashflow positive-but I like many others are now looking at potential capital gain. A lot easier to find
You will need to look-and it’s a lot more fun that shares!! [thumbsupanim]
markk
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http://www.kentscollections.comHi Carlin
I know that realestate.com.au sometimes show you how many vists to an individual web site there has been for a particular property but not sure if any will tell you how long the listing has been there. Try asking the neighbours how long the sign has been up.
markk
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http://www.kentscollections.comSorry Daaussie-no recomendations as to who.
As to what to look out for-the further away from the mains power, the more expensive the installation. They usually have to be wired into the mains. It also needs to be able to drain
But you probably new all this-
cheers
markk
Happy Hunting
http://www.kentscollections.comGENERALLY the notice remains active if it was issued due to a default in the rental payment (I am assuming this is the reason because you say the rent was paid the next day). The default still exists even if it is now paid so it needs to be in writing if it is to be withdrawn.The landlord can’t have his cake and eat it too. If he decalres the notice inactive and there are no further breaches of the agreement, the tenant can stay until the end of the lease.
However if the tenant breaks the lease, is kicked out as a result then the landlord is usually entitled to loss of rent over the period until a new tenant is found or the original lease term expires.
I say generally because it will vary from state to state.
markk
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http://www.kentscollections.comSt George put their fixed rates up last week but only by around .2%. Their 3 and 5 yaer fixed rates are still below 7% on most products. Standard variable is 7.07% before any rises. Fix now or forever hold your peace!! if that suits your property needs. Just look out for any break fees…..
markk
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http://www.kentscollections.comHi Jules
Our PPR had termite infestation before we bought it 8 years ago. We found out about it but determined that had been treated and they were gone. We had to replace a few studs but no problem since although I am as vigilant as can be.(No timber lying around and destroying nests that form)
We had real reservations but loved the location. We bought it and the property has increased in value 4 fold since.
The only real concerns I guess are
1) Are they gone.(You seem to think they are)
2) Is there a likelihood of re-infestation (get an inspection done now and yearly)
3) Did they cause any noticeable or structuaral damage (get an inspection done and find the repair costs)If the above questionsare satisfied and it is still a good deal-go for it. As far as I know you aren’t obliged to tell any future buyer of a past termite problem They will do their own inspetion in any event.
markk
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http://www.kentscollections.comHi Andy
Starting out at 18. Smart man
The only other issue is that I/O loans are usually for a limited time.5-7 years. Nothing to stop you re-negotiating at that time but it is something to bear in mind.
markk
Happy Hunting
http://www.kentscollections.comHow about Lo Doc loans over 60% LVR.? I know some do up to 80% with mortgage insurance and that really hurts when you start talking about loans of $400,000.00
Anyone know of any institutions doing 80 and upwards on a lo doc lend without LMI?
markk
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http://www.kentscollections.comHi John
For starters you hold the aces. The contract does not become unconditional until this condition is satified. it is pretty broad clause though because it does not say when he has to produce them so provided he does so before settlement he complies.
obviously if you are using a solicitor get him to push them along.
I would make it clear at some point (and well before settlement happens) that if there is any problem with the rental agreement when produced that you will pull the pin. ask the agent “What has the vendor got to hide anyway??!!
Be the boss. Remember unless it is a fantastic deal for you, he probably wants to sell as much as you want to buy.
Good Luck-Hang tough
markk
Happy Hunting
http://www.kentscollections.comHi Fireceasar
I live on the Gold Coast and over a number of years have tried many.
For savings/cheque accounts I have found Heritage Building Society to be the best option. No fees on certain accounts unless you use a different teller-but that’s the norm today.
If you found a Comm bank account without some fees, you’ve done well. “Which Bank” will find “Which Fees” somewhere down the line.
But it has been a while since I had a look in detail. Most are tarred with the same brush.
I would be interested to hear the result of your research.
cheers
markk
Happy Hunting
http://www.kentscollections.comI saw her here on the Gold coast about 12 months ago doing a seminar and she aslo has a radio programme. Her push is generally positive gearing (not pos cashflow) but she has a lot of great tips and is very interesting to listen to. Some acquaintences of ours actually bought a franchise. She is all about getting you to buy property by refinancing which they organise for you (for a fee). It all sounds great if you are into that sort of investing. Read her books. They are good too.
Worth a listen but as with any guru, ask the price!!
markk
Happy Hunting
http://www.kentscollections.comWhere is it??
markk
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http://www.kentscollections.comWhat… two full moons about four weeks apart?????
Wow… what are the chances of that…
Once in ablue moon I guess
markk
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http://www.kentscollections.comHi dan
I have a brother in law who is in real estate in Atlantic City in New Jersey. A fair way from where your interests are but if he can help (and maybe make a dollar finding any deals) I am sure he wouldn’t mind.
Let me know and I will pass on his email.
Regards
markk
Happy Hunting
http://www.kentscollections.com
