Forum Replies Created
Hi Martin and Others
I feel reasonably qualified to answer this one!!
We’ve bought lots of “stuff” in the last 12-18 months.
Been a mix of things in the US, NZ as well as things that are local.
Ranging from buy and hold houses, minor renovations, some developments and blocks of flats.
Hope this helps.
– David Bradley
Bradley McKnight GroupHi
I’ve had this situation before, and quite a bit recently.
My (somewhat cyncical) take is that the agents are trying to create a bit of a frenzy.
There may or may not be other bidders.
In my experience, I have refused to play their game and instead will wait until the offers don’t materialise. I figure it puts me in a better negotiating position.
Of course you may miss out, but that’s real estate!
If you want to buy it under there conditions, I suggest you gice them a fair price and have conditions in the offer.
Also, it is a private sale. There is no mention of needing to pay a 10% deposit.
Hope this helps
– David Bradley
Bradley McKnight GroupHi Bernadette
Personal cheques are fine.
Good luck
– David Bradley
Bradley McKnight GroupHi Irene
In my former life as an accountant I came across the situation whereby a person’s super fund owned (well put up the deposit) for their home.
We went through the usual arguments and pain of stamp duty and capital gains tax.
The numbers at the time indicated tax wasn’t the main problemm but stamp duty.
I can’t remember all the ins and outs but as there was no beneficial change in the ownership of the property (ie beneficiary of super fund or in person’s name) then it wsa agreed that property could be transferred and there was no stamp duty consequences.
The person you need to see is a solicitor who understands such matters. I’m not sure if it still can be done but I did it (albeiet years ago).
A lot will depend on which state you are in. The one I am referring to was in Victoria.
You will also need to “repay” the super fund as well.
Hope this helps.
Dave
Hi Scott
My initial thoughts are that will the council allow him to run a business from home.
Some councils have regulations that say you can run a business from home provided you meet certain criteria.
One of these criteria is the number of people you employ cannot be greater than a certain number – 1 rings a bell.
Therefore, your risk is that the council stops him operating from your house. If he stops using the house and moves elsewhere, you want to be certain that he will still honour his lease, especially if you haven’t found a tenant.
Secondly, be aware of the “changes” he might make to the property for computers etc in every room. Maybe a clause to make good the property of your permission if he wants to do certain things.
Thirdly, 3 employees will all require car parking spots (probably) and this may upset the nighbours if the property is not designed for this.
However, after saying all that, if he is a good tenant, you might find that he is there for a while and will improve the value of your property.
Good luck
Dave
“especially by a plumber who doesn’t have their own eel ?”
Silly question, what’s an eel?
At the moment I have visions of the plumber stopping off at the pet store on the way.
Dave
Yack
In relation to your numbers… If only!!!!
1. We don’t receive all the proceeds, a small of issue of GST
2. I wish it was as simple as just doing 1 days work. Unfortunately, we have been working on this for 3 weeks.Yes we make money from the event, but it is not quite as easy as you make out.
Good luck to the people coming tomorrow. Hope you learn heaps.
Dave
This one is easy
Batsman 1 hits the ball and they run a 3. The throw at the stumps goes for 4 overthrows = 7. But there has been “one short”.
Next ball, batsman 2 on strike – hits a six.
Dave
Not really – but the agent was smaller than me!!
Dave
Well agents don’t do themselves any favours….
There is a commercial property not far from where I live that has been vacant for over 3 years. I know that coz I used to walk past it with my eldest child ( who is now 3 1/2) in the pram.
So there is now an agents board out front. I make a time to go through the property.
It is a $400k property being flogged for $600k. (My opinion)
During the inspection I ask the question “how long has the property been vacant”.
He replies “a few weeks”
Me: “Really, are you sure?”
Agent: “Yeah, a few weeks, so how much are you going to offer”
Me: “Mate – stop jacking me round. This property has been vacant for over 3 years. When are you going to start telling me the truth”
Agent: “I am telling you the truth – it is a few weeks”
Me: “Not printable what I said to him – lets just say I said I’ll show myself out and no, you can’t have my business card”.
Moral of the story – well for me, don’t do business with people who p$%s you off.
Oh and agents might lie to get a sale.
Fast forward to today and the board is now replaced with one by the owner direct.
Have a great day
Dave
I bought my first in 1991 (aged 21).
My mentor was thrilled.
Didn’t buy another until the 1st one with Steve (May 99)
My mentor has just celebrated 40 years in the property business.
Dave
Hi Leigh
The kids are XLNT.
Although hard work on my back trying to pick them all up at once.
Dave
I do exist.
I read the posts but find that typing is not my strong point!!
(Edited 3 tmes)
Dave
AD
I’m in the office – give me a call if you like
Dave
AD
Block of flats last week (as B & H)
+ agreed to buy another 3 wraps with another 2 in the pipeline (verbally agreed but yet to see details)
Dave
And I’ll see you on Saturday – how are you going?
Hi Steph
Victoria – Suburb of Melbourne (Mont Albert)
I see England won – that is the real reason I got up.
Dave
An imposter!!
No, the only thing I have bid on in the last 24 hours was a house!
Dave
Hi Alf & AD
Morning to you both
Couldn’t sleep, lots to do
Might as well come and do some work
Dave
Quick answer – Yes!!
Dave
Maybe I have missed something in the reading of this thread, but isn’t all he has done is take multiple mortgages on a property?
This by itself is not against the law. I think there is a difference between fraud and not telling the family what is going on.
If he has told some fibs to get loans he will obviously be in for a bit of explaining.
My understanding of this thread is that a person needs some help. I don’t think the solution is to tell him he is going to jail. Probably not correct and probably not going to help him out.
I think (as in investing) we need to sort out the facts from the opinions here.
Sooshie, is you friend still in strife and what have you told him.
Contact me if you need some help to give him some solutions to his problems.
Dave
