Forum Replies Created
I’ve heard of people using ‘hired muscle’ to get the tenants on their way. Not breaking legs or anything but just putting the fear of god into them. You’d be surprised how many people would be willing to do this for you for a nominal fee.
Also a friend of mine who had a flat mate in a share situation, simply changed the locks when they were out and never saw them again. He even got to keep their stuff!
Why don you just cash out and sit on the money for a while? I’ve heard the UK market has stopped in it’s tracks and Perth and Melb probably aren’t going to do much for a while.
Do you need to add to your portfolio now, I believe if you wait a while your money will go a lot further than it will today. You come across as someone who probably doesn’t need to jump right in now, so why hurry?
Altered, because I completely stuffed the answer up, oops…[withstupid]
Thanks Dazzling
A lot of these properties meet the 11 second solution, however, body corporate and council rates can easily obliterate any positive cashflows, especially in the Cairns market.
I’ve seen similar properties like this in Cairns where just your body corp and council rates eat two thirds of your annual rent! Let alone any management fees.
If you do decide to go ahead, make sure you know exactly what you’re doing. Good Luck…G7
What can you do? If he wont have anything to do with a wrap, there’s nothing you could do anyway. Just find another wrappee.
Seems like a very good deal. Just compare the purchase price and rental price with similar properties in the area and make sure the rental isn’t loaded to get the sale.
You could also word your clauses in your contract to get out of the deal if you uncover any dodgy goings-on.
It might seem too-easy but good deals still do exist, it’s just a matter of finding them or creating them. Even in this day and age some vendors have no idea of the potential value of what they’re selling.
Good Luck…G7
I remember reading somewhere that parents were sending their young teenage children (and younger)to all night gaming ‘shut ins’ at internet cafes.
The cost was $30 each and was used as a surrogate baby sitting service. It was controversial because of this fact, but hey, it provided a service at a tidy profit too. This may be an idea for you.Good Luck…G7
1. Yes absolutely, something like this would be very good. Investing has a lot to do wih information and this would be a very good resource.
2. Most definately.
3. Any info that is applicable to investors, borrowers etc. would be immensely valuable. Maybe something like a reference or list style format.
This is a very good concept and I’d love to see it go on. Happy to help…G7
There’s big plans for the South West in terms of zoning, higher density that is. I’ve seen good large blocks of land in these areas for under $150 000 and I got to thinking…
Opportunities for the future are ripe for the picking now, at fairly decent prices.
Probably not conducive to good business practice.
However there might be insurance mobs who do.
Go to http://www.google.com.au and type in termite insurance.
Floor space looks wrong for a unit, unless your unit is about 20 squares in size. For each 10 square meters, that equates to about 1 square in property size.
No huge repairs, make sure of it, know what needs doing and what’s OK. Do NOT get burnt.
Long term tennant? Make sure that they are and check the lease thoroughly. You’ll soon know if you’re getting done. Check comparative rents, get a rental appraisal- not from the agent you’re buying from and do your due dilligence.
Sounds like a very, very good deal, however be prepared to walk away if need be!
Hope this helps…G7
1. Yes, written offer to the agent.
2. You dont have to put down a full 10% deposit initially. When you sign, you’ll sign on usually a 30, 60 or 90 day settlement. What one it is is up to you and the vendor.
3. Yes, I’d say use a broker, there are very knowledgable one’s on this forum. Dont forget your building and pest inspections.
4. Your lender will pay the balance on settlement date.
5. Your conveyancer, solicitor handles transfers of title, registrations etc. They carry out the duties of a settlement agent.I’d recomend you guys use your parents or a family freind whose bought property before to help you through the process.
Steel frames homes just replace the wooden frame with a steel frame. A brick veneer can be built using either frame. Steel frames tend to be more expensive than wood.
1. The stability of mining towns can often flap in the wind, and are also known to sometimes blow away for ever. However, mining towns can provide great cashflow and properties in theses towns have been utilised to create some serious profits for people. Your research must be thorough, some towns are good, some are best left alone.
2. Council rates, property management, maintenance among others. It’s always best to overestimate expenses, underestimate income and if the figures still look good, well might as well have a go.
Good Luck…G7
You should probably be able to take out a Line of Credit (LOC) on the property (once it’s in your name) and invest with that as long as you can afford to make the repayments.
A LOC is generally cheaper than a typical stand alone mortgage and is a good way of using equity to expand your property portfolio.However, as you’ll be receiving quite an expensive gift and a huge kick start from your parents, invest wisely, do your research and dont squander or lose it.
Good Luck…G7
You could always just go and visit some show home display villages, and if one pops out for you, then take it further.
There are plenty of builders and building companies that do sloping blocks well.
Typically inflated asset prices are eventually met by rising wage inflation. Now that it is a stated objective of the RBA to keep their foot on the neck of wage inflation, and also preventing another boom or happening a severe bump for housing prices, property must begin to trend down to where it should have been had we not had a boom and also to where it should be in relation to wages.
I know this wont all happen in the next 18 months, but I know it will eventually happen. I’ve heard, read and seen reports that it will happen in the next 12 months and also that it will take 10 years to get back to normal.
When and how truly is the $64 000 question.
I’ve been wanting to buy an apartment or townhouse in Cairns for a while but even the decently priced ones are just so fundamentally over-valued that it’s just not worth even thinking about. Maybe in a few years though.
Not surprised, no real surprise anyway. Building a house, especially house and land packages are just so horrendously expensive these days, the vast majority of people are better off waiting until things get back to normal.
In the next 18 months, I believe real estate will trend back to the prices it should have been had we not had a boom.
I dont like anything, in fact I’m bringing this whole site down slowly from the inside.[satan] Who’s with me?
