Arty – that’s my day job. And sometimes my night job too []

Maybe you need to find a good, aggressive lawyer.

You also need to know what you want. I keep telling people that most lawyers are only as good as what you tell them to do.

You need to tell your lawyer that you want to recover the deposit from both the agent and the buyer – send them…[Read more]

I agree with Richo. The purpose of the forum is to share ideas, but you can’t simply log on and expect to find a step-by-step how to guide on investing in properties. Books several hundred pages long are written about that topic. It’s a bit simplistic to think that you could meaningfully condense all that into a handful of postings.

Regi – read…[Read more]

Arty – sounds like negligence to me. REIV is not the way to go. Remember that they are an industry body formed and run by real estate agents. You should be talking to a solicitor about commencing legal proceedings.

Rowan – everyone scoffs at us lawyers when we tell them to get releases from open-ended contracts. But I think your example clearly…[Read more]

Hey Sooshie,

It looks like he may have to hire a bankruptcy expert (many medium and small accounting firms have such people, and other practice in their own outfits – look under insolvency practitioners in the Yellow Pages) and try to come to a formal arrangement with his creditors (the formal name varies between states). It’s not bankruptcy, so…[Read more]

Sooshie,

Sounds quite sad. Especially if he refuses to accept that he’s doing anything wrong. People with a “victim” mentality often seem to feel that the world owes them a favour, so they’re entitled indulge in what would otherwise be unacceptable (whether morally, ethically or legally) conduct.

Maybe he needs to know that a conviction for…[Read more]

Good point Terry – in that case, if the bank asks you and you state “No”, when in fact the answer is “yes”, I still question whether a charge of fraud can be successfully brought, given that the bank has a copy of the contract which shows the existence of a rebate. However, it’s likely to be a breach of contract in any event, which may allow the…[Read more]

Hey Shelley,

Where in Perth is that property that you bought? Just curious. Email me if you prefer on DIY_Settlement_Book@bigpond.com

Thanks
M

Hang on there! People seem to be freely bandying around the “fraud” word. Do you really understand what that means? Fraud as I understand it is to gain a benefit by making false representations.

If, as Shelley described, the entire transaction, including the cash-back deal, was in the contract, how can you say it’s fraud? The contract is given…[Read more]

Try a law library (in a university with a law school), and look up books on property law.

Hey that’s great for you westan. It would be nice to have more of a supportive environment like you do. But we do what we have to do, despite what others say.

Thanks for your reply aussierogue. I think you’re right for the majority of migrants. However, if most +ve cashflow properties are in the lower price brackets, that may well be good news for the low-end rental market, and hence +ve cashflow investing.

Cheers
M

Hey I’ve been censored! And I wasn’t even using a rude word, although I can see how you could extract one from it. In the interests of protecting my good name, I was only trying to say: “s-w-a-n-k-y”, meaning “flashy”, or “high-class”.

Good point trueblue.

But will there be enough migrants to fill the gap?

Given all these cash-rich baby boomers moving to the country to eat a lot of peaches, maybe I should start investing in developing a swanky retirement commune in the country…

I agree with Rod. It’s part of the cost of buying the property, like stamp duty and settlement fees.

Cheers
M

All this talk about baby boomer exoduses lead me to ask a question – if all these people are swarming out of the city into the country, where does that leave city properties?

Cheers
M

Good on you truska! It’s good to hear success stories.

Hang around some more and share your experiences.

Cheers
M

Any improvements on the land (that includes any buildings, fixed structures, etc) becomes part of the land. ie the owner of the land owns the improvements, even though someone else may have built those improvements or paid for them. The lessee of the land merely has the right to use and occupy the land and any buildings on the land.

The simple…[Read more]

Yeah richo,

I also get a mixed response. Some people just plain scoff at what I say, others are sceptical, and a very small number are actually supportive or in agreement. In my office, I’d say that there’s only one other chap who is supportive and in agreement with me. I also don’t bother to give friends and family too much detail (except the…[Read more]

Hi Andrew,

I agree with you in many aspects. It’s a con where they are selling you a “valuable” product which is actually useless. Believe me, I’ve trawled through a lot of these things and just said forgedaboudid, and even blown some good money for nothing.

For example, the rubbish spam that I get telling me how I can make hundreds of thousands…[Read more]

G’day luckydip (or brilliant),

I’ve just bought these two books (2 volumes) on internet marketing. I’ve yet to put the stuff into practice, but it looks really good!

It’s basically a compilation of advice from 61 internet marketing “gurus”, who explain step by step how they would get back up on their feet within 30 days if they lost everything…[Read more]