Hehehe cat among the pigeons. I have bought sight unseen (went and saw it week before settlement). The bikies live across the road and seem very nice, couldn't really tell since they were revving their engines and wearing a lot of black leather.

But since my tenants don't seem to care that they live in a house on a main rd, without a bath tub and with bikies across the road why should I? I think the drug den would put me off as a buyer tho…..

I think it is about strategy, knowing the area and about understanding the risk. There is always a chance that a perfectly good, brand new inner suburb property can stay vacant (as I found recently) because the tenant pool is no good at that particular time.

Just my opinion!

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O M G !

What do they hire these people on! Thanks for posting!

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I'm still laughing tho! Maybe madly…..

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Hahahha!

Dirty of meeting? Not food in enclosure? Each level with likings and earthenware!

LOL Lost in translation……

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Yep. Ringwood East is probably 2 kms further sideways. Mount Dandenong Rd turns into the start of Eastlink. Maroondah Hospital is there (being upgraded) and there is a train station too. You can then go further to Croydon too. I like it a lot but i do not have endless funds

Oh Well! Can't buy everything.

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Lol! Any of the finished ones. Preferably the IKEA one!

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It is not legal in most states as it is classed as a rooming house. Please search the forum for others posts on this.

If you find out it is happening you can move to evict the tenant based on sub-letting. It is important because 10 people will wreck fixtures a lot quicker than 2. I would get strict wording put into the lease at the beginning that highlights sub-letting and the fact that eviction will take place within the required notice period. Also get the PM to do three monthly inspections rather than 6 mths. They will charge you but better the fee than heaps of trouble later.

The other 8 people are not on the lease. They could trash the property. Also the fact of the matter is who really wants to be a slum lord?

 I wouldn't want to squash 8-10 people in a property, dya reckon they would all be able to have a shower every day? Hmmm.

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Ok so the lease expires June. You list start of May. That is two months. Will you get a buyer in 2 months? If so you get buyer to give you settlement that allows you to give tenants correct amount of notice, whatever it is in your state check with REA. So four months in total for instance. For sale to be finalized.I was under the impression that you just reverted to standard notice times after the lease expires because it then becomes a periodic tenancy.

Say you dont get a buyer for four months but all the feed back you are getting along the way (maybe 1 or 2 mths into it) is that people want vacant possession. Then you give appropriate notice at that point with as much info as you have. Then you have vacant possession to offer as carrot and will only lose out on a month or 2 rent. 

If you want a quick sale kick them out now, try for quick settlement from buyer and move on.

I think you a in a whole load of mess trying to get around the lease by offering different things. Stick to what is in place already but try to make the most out of it. Get a property manager to advise you on required notice amounts then work from that

CJ – I would call three agents and ask if in your area they think they can sell with tenants or if you are better off waiting. They will tell you, then I would ring any others in town and ask them too. You don't know until you ask someone who is experienced in selling in your area. Look on RE.COM and see if properties in your area are selling with tenants or not at all.

Hope this helps.

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Hey Wealth,

Is that 1 mil profit or in real estate purchased/

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Banker would you be able to draw a trust tree or something similar to show a generally good way of setting up a trust etc? If you can contrast with a way that most people have it set up then maybe that would create a clear picture. Thanks.

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