Well those things are uncertain for me right now I have to get my solicitor to overlook the finer details but I want to put it through a company but may have to purchase personally for the time being it will use about 2/3 of my money right now but I’m confident I can build it back up by mid next year and I’ll still be left with enough to put a deposit on something else

As for values increasing its a pretty central location to the cbd it’s half an hour and less then 20 minutes to another central hub I know commercial can have little to no capital growth but as a rule of thumb your 3% rent increase each year should also be factored into price.

I simply don’t earn enough but I appreciate your feedback I understand and agree which is why you definitely need to have it structured well with a solicitor have everything on title and contract but if you had a handful of people staked in with a common agenda like a real estate trust fund but private, small scale and more personal but in that situation a company would be better because you would deal with shares in the company but financing would be very different

It’s rather an undesirable area to most investors it’s a majority housing commission area but I met the tenants when I went to inspect and the fact they have a flourishing vegetable garden means to me they are responsible and care for the house I’ve never seen a bad tenant with a well maintained garden or vegetable patch and it’s a sign they are willing to stay long term for 109k it’s renting for $215 a week which is about 10% gross return and 6ish net after rates and management, I have 120k sitting in my bank right now
I’m considering withdrawing enough to make it look like I only have 104,540 or some rather odd amount just short of my bid to give the picture I’m prepared for a fast settlement I gave the impression I’m looking elsewhere but I honestly don’t believe there’s another buyer but seriously 2k probably isn’t worth the headaches 😂😂 but I’ll see how I go it’s going to be a Mexican standoff to see who gives in first . If they reject my 109k and the “other buyer” bids above me then I’m out of the game.

I don’t mind owning ex housing commission stock because from what I understand and have researched the land tax is nonexistent for these lands because the values seem to be capped at 15k by government land valuation so you would need to hold atleast $4mil in today’s prices of property to reach the threshold .
In my last message to the agent I said 107,100 was my final bid and that I was expecting a counter offer and that my financial advisor insists i Retract my offer and any further negotiation to go through him starting at 100k. Just to play him around back I will make him frustrated and insist to the seller I won’t be milked anymore I think I made the mistake of driving my flash new gt 86 to a shitty country town housing commission the agent was driving a beat up Pajero so he probably thinks I’m loaded

Ah I’m in the dilemma of negotiating right now I put my offer of $105,000 on Sunday around 2pm ,this morning I get a call of a counter offer of undisclosed value it’s listed for 109,000 but I call bullshit and they are trying to milk me I got back a few hours later increasing the offer to 107,000 and I’ll give 2 days for the agent to call I mean it’s only another $2,000 to listing price which I’m sure is what they are trying to get my core logic data tells me it’s a high confidence estimate at 108,500 it went up $1000 in the space of 1 week of watching the property on core logic.

I’m going to buy this then hit the bank in a month for a loan I’ve found some promising properties in broken hill under 80k with 10% returns as well and cheaper land rates and costs but I’ll need to look into it a bit more , market research is key. Will let you guys know what happens by the end of the week.