I'm with you Crest,

When did your cover get blown? I don't really care who you are keep the great info coming (not in a bad way)

D 

LOL

*Blamed*

Nice blog Scott No Mates.

D

Yeah gotta say lotta BS flying around.

Time to shop around for money. Time for smaller lenders to get on the backlash bandwagon and take advantage of the fact that everyone is sick of the lies and the banks. Sorry still can't stand Wayne Swan, he has always had the deer in the headlights look so of course the banks are probably snickering behind their hands at him.

There is still money, it just costs more so it means that developers will try to charge more to develop or it will make some projects unviable meaning that the shortage of housing will not go away.

I don't think rates will go to 17% but they will go up.

D

Nope Woodie, don't live on Warrigul Rd, I live on a road that abuts it and a couple burbs over (the burbs are small so not far!)

Yeah as long as you buy well and truly under market then you won't care if everything else drops in price.

D

I'd vote peak and possible heading toward a decline.

In the back of API mag they have the cycle and where the "experts" think that each city is, having said that it still depends on the suburb as some are outperforming the market.

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Yeah spot on Matt007, presales are now my bestest buddy

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Good luck Sonyasal,

Hopefully the PM has got their act together. Maybe request some interior photos to make sure they have at least inspected the property, the camera can time/date stamp the pic. You may need these anyway if their is any damage etc. My fingers are crossed for you, I'm hoping for the best out of this situation.

Good luck.

BTW, the rental we are living in, they sent out the notices to put up rent, never followed up, sent out notice for us to either re-sign lease or notify if we are vacating property. No option for month by month which I am allowed to do…..didn't follow that up either, tits on a bull, glad it isn't my property!

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Hi Sonyasal,

Sorry to hear about the absolutely s%^thouse managers.

One of our good managers knew there was a problem with one of ours and went and collected the rent every week. She hadn't heard from the tenant for a while, chased them, found they had moved into a new apartment in Melbourne, chased the dad in India to pay the money owing (bout $1200, months rent) and remove all the furniture that she had just walked away from.

There is no excuse for bad property management. It's your dollars and managers just don't respect that.

Have you been through the inside yet?

D

Thanks Beedie,

It is food for thought. Very interesting from the point of view that buyers are not willing to settle (no pun intended) for low quality product and also that they don't want what is currently offered in the form of new apt and townhouse developments. The only problem is

there isn't enough land close to infrastructure to provide everyone with a 4 bed house on a large block,
govts are unwilling to provide more money/infrastructure until the population is overflowing in an area and demands it,
developers have enough trouble fighting through the red tape as is for anything even than these small developments let alone larger developments.

It will be interesting to see the next decade unfold as this will be the crunch time for Australia in managing population growth and economical growth, and of course the housing market.

PS I have had a back flip moment on presales…..PRE-SELL is KING!

D

Hey dtrump,

Just do the maths on how much it will cost to make sure there is no false economy with this. $15×52 = $780, $30×52 = $1560. As long as the costs of replacing the tenants don't exceed the rent you will make you should be ok. Don't underestimate the value of a tenant that has been in a long time, they are often unwilling to move and will wear rent rises well. Also sometime, it is better the devil you know

Just opinions as always,

D