Are they both the same in all aspects? (marketing, commission, reputation etc)

If so, maybe see if one of them is happy to offer better terms for exclusivity? I would cap that for 3 months and if it’s not sold by then, give it to the other agent as well.

Does this sound like an option?

Best wishes!
Ethan

Yep, what the bigs are dropping, the smaller ones are picking up. Saw an article recently that also non-residents moved from the big 4 to smaller lenders so overall their % in the market is about the same as it was before…

Should be fine. Your broker will surely be able to match you with the right lender 👍😎

I reckon 10% is a low profit margin…

My understanding is that only when a contract has been exchanged, it becomes binding (conditions apply if specified, usually building, pest and finance).

If the buyer is concerned, their solicitor can contact the vendor’s solicitor and ask for updates on when the exchange can take place. It is possible to apply pressure on the vendor with a…[Read more]

I don’t know the law but I would check with the tribunal in your state and/or a solicitor that specialises in such matters. If the law is on your side, they should be able to help. If it’s not on your side, then you could try to change the law.

Wow, what a story 😱

Doesn’t sound right to me that a wrong UE and smaller car park can be delivered without recourse. I would get another legal opinion and/or the tribunal in your state.

Will be interested to hear how this turned out.

Good luck! 💪👍👊

I would give @terryw a go 👍😎

Interesting!

So unlike in Australia, in the USA, negative gearing is limited to offsetting income from other passive streams, not from all streams.

Also, the system is more geared to helping OO by letting them deduct their PPOR mortgage! (Super cool for OO!)

But CGT exception is limited to $250k when selling PPOR, not the entire gain like…[Read more]

Hey mate,

Totally agree that the step that needs to be taken, in order to avoid long waits for the market to raise the value of the IP, is to manufacture growth somehow (reno, subdivide etc). This creates very quick equity that you can use towards the next purchase 👍😎

No real risk to sign a conditional contract as you’ll get your deposit back if…[Read more]

Cheers, mate, appreciate your reply 👍😎

My 2c are below.

across the board is not accurate, IMHO.

Wikipedia: “In principal the USA Federal tax does not allow the transfer of income streams. In general, you can only deduct expenses of renting property from your rental income, however there are exceptions to this restriction.”

The counter…[Read more]

Sure thing, happy to help 👍😎

Where are you based?

I see where you’re coming from. I would be interested to know how do you explain the fact that Australia is one of the only countries in the world to have negative gearing and still property investing is nonetheless common and financially rewarding in most of the countries?

Never worked with one but my guess is that if you could fit a rangehood above it, it might do the trick? Are you DYI or have tradies to consult?

Hi Simon,

Welcome aboard! 😎

Quick question: you said that you want to build a portfolio and have circa $80k to invest.

Let’s say you use that money to buy a CF- property. Then what? You wait until it goes up in value enough to be refinanced so you could buy another? That could take a very long time…

CF+ is great for cashflow but wealth is with capital growth.

Could you elaborate on your current strategy? Ok, so you buy x properties that are CF+, then what? Sit and wait for the low capital growth to bring you to a point where you could refinance and buy another property? That could take a very long time… 😁

My suggestion would be to read a lot, go to networking meetings in your area, talk with experienced investors, gather information, check out the listings and always keep learning. Be market ready so when you’ll find the right opportunity, you’ll be ready 👍😎

Sure thing, happy to help 😊

14% is nice but usually most developers won’t look at anything below 20% (not enough margin for errors, issues, market changes) but I guess that I f it’s easy and you’re happy with the numbers, you might have found a nice niche for yourself! 👍😎

No PPOR and no other non-deductible debt = yeah, offset should be against the highest interest rate loan 👍

Yeah, trust makes servicing a bit more complex and a bit less of a lenders panel but your broker should be able to safely guide you through it, no worries 😎

Hey mate, I think it was hard because your emotional need for a house met a wall. Now that you’re looking at it as an investment, things should be easier 😊

I would look at sold prices in the area, existing sales as well, how long it took them to sell and for how much so you could estimate the end price and profit.

Yeah, people can be lazy and…[Read more]