Hi all,

The vendor may not accept terms like the ones above, just because they will want as close to unconditional contract as possible.

You will need to give the tenant 60 days notice of rent increase after you take possession of the property (have done it before). You may want to get them to resign a 6 month lease and get half the amount extra ($15) and then have another rent increase in another 6 months so as to keep the long term tenant. If they vacate after you put the rent up you will need to front up with costs to find another tenant.

Have you asked the property manger about the tenants and about the rental increase you are planning. They may think the rental increase too high at once or may be able to guide you on the best way to put the rental increase to the tenant.

I understand what you are saying about having inspections to try and find a new tenant but if they are the midst of leaving they may cause problems with getting viewing times etc.

You catch more flies with honey than you do with vinegar.

Maybe you can get the rental manager to speak to the tenants to try and gauge their intentions and even to reassure them that they do not have to move out so you can try to plan out all the scenarios.

Good luck, I have bought with tenants and put the rent up straight away ($5 p/w ) and still have those tenants.

D

Yep have to agree with those points Scott.

Don't get me started on transport and decentralization.

There should be infrastructure put in place now such as a bullet train that links major cities to prepare for the population growth. At least in the 50's they built things like dams etc or we'd have nothing now.

Short sightedness is ruining this country not investors.

D

Hi usual gang

This guy is talking about NY. Yes The rent is probably really high as the huge population all wants to squish into that tiny area.

Down the street from me is a perfectly good house for $550 pw. The median house price in that area is 1.2-1.4 mil. Across the road is a house that is rented for $360 pw. Once again value of house $1.2 mil. I spoke to the guy who bought the house across the road. He owns two houses side by side. He paid $85k for the rental in the 80's.

So tell me. Is the rent too high? In the same suburb there are rentals in the the $900 pw range. You tell me why someone would pay 900 instead of 550 or 360 pw. Nicer finish, in a particular school zone? More bedrooms. Yes I rent. Yes the rent is too damn high. But so what, I could live somewhere cheaper but I don't.

I have to say I disagree that most renters would like govt housing. Most renters want FREEDOM, and CHOICE which is why they rent. Many renters never want a mortgage, many renters move often for work so buying is impractical. Not all renters want to be tied to paying a mortgage for 30 years.

Keep is up all, very interesting to read about what people think.

D

Hi great thread,

Always ask for a discount, especially at Harvey Norman (lol). No really, I don't think I have bought anything recently that I didn't get a discount on.

Shop for kids clothes for next year and next season at the end of season clear out. The Target near us sells off kids clothes for $2.86 (stupidly cheap) I just take a guess at the sizes for that season next year. I bought all this years dresses/shorts last year for $4 and $5

ATM Borders have 25% off online and free delivery on books, might be a good time to get some of those property books. Sign up to the email newsletters for shops so you get the discount coupons or notified of discounts.

I love Discounts!

D

Ben and Mina,

That is pretty disgusting! I worked in sales for about 8 years and I remember helping a customer who no one else would based on how they were dressed. Meanwhile they bought something VERY expensive, they were farmers and had plenty of cash but were not dolled up. It is a very important lesson to learn not to judge people based on how they dress or look or anything. I look like a bum most days of the week, great disguise if you ask me, it sorts out the decent people to deal with

Property managers (anyone in a service industry really!) should never judge anyone, how do they know what you will be like as a paying tenant from what clothes you are wearing!

D

Hi RachieM,

Both suburbs are great, of course Mont Albert is a lovely suburb. I rented there for a year, walking distance to the village and it was very nice. Ringwood has all the transport as well as Eastland and probably future growth from more development as a satellite city.

I would ask how close you are to having a family, what you hope to have long term as far as properties go, and what you are willing to sacrifice short term to achieve your goals.

Land can always be developed (STCA ) whereas if you buy the dream 2 bedder in the inner burbs then that is pretty much it, you will have to hope for a capital gain in the future.

There are good schools everywhere and nice pockets in most suburbs. If it is an investment, then buy the best possible INVESTMENT, if it is an emotional buy, then admit that it is an emotional buy and work with it as best you can. Sometimes property cannot be both.

Good luck let us know how you go with this it isn't easy to decide when it is your own home.

D

Wow Shangrila00,

That is not good if you are having trouble with the builder at slab stage of construction.

I went and checked out our site everyday, I did not find any newspaper, sure we had problems but most were fixed by the handover.

You can withhold the final payment until works are completed to your satisfaction/contract, but they cannot build a dwelling again.

I hope that you can get your slab sorted and that your project works out.

D

Hi Gronk007,

Yeah, I did like Mitcham, Ringwood and Heathmont. The thing about Heathmont is that there is the not so nice bit, so have to be choosy. I also like Croydon South but that has also gone up quite a lot. Still like Bayswater which you can pick up a bv house for around $400-$450k. You can get into the nasty bit of Wantirna South for around $400-$450 Just depends. I think it is going to get pretty hard to find anything under that price quite soon. Family houses are a good bet, as are retiree size units of 2 beds in small blocks of 3 or 4 with courtyards.

Just my opinions

D

Hi Christianb,

Can you still get into these burbs for under $500k, pretty good value if so.

I'm going to plug Boronia again as their council is proactively trying to change the community. Wantirna is tapped out, with very GREEDY vendors and a bit of a monopoly with the agent in town. It is very rare that I call people greedy but really at $750-$800k? It is Wantirna?!

Sunshine still ok, you can get in around $500k. It's getting pretty tough now…

D

Hi all,

I'm looking to put some money into gold also. What is the most reputable company/way to hold physical gold? I'm cashing out some shares to put that into gold. I agree with you Kong on where you think gold is headed price wise. Many people will see it as the safe bet.

D