This is difficult legally.

You say you have oral acceptance, if you were buying or selling anything other than land, (with house), this would be a valid contract in itself.

This agent is acting highly unethically, but it is ambiguous as to whether its breached the law. There is conflict of law here.

On one hand, legally, your offer has lapsed…[Read more]

Legally, this is actually quite complicated.

You don’t need to submit another offer because you have submitted a valid offer which has not been communicated to the vendor effectively (in writing)

The reason why the agent wants another offer may be because legally, in Queensland at least, he must submit the offer within a set period of time (24…[Read more]

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he’s triple mortiged his house and has taken out a mortage on another property which he doesn’t even own!!!
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I just looked fraud up in the dictionary and this is what I found

Gees guys, he is not an investor. He’s a criminal

As if he can “retire debt” and improve the situation. He’s committed fraud on someone elses house as well. He is gone right now.

The best outcome:

He gets a two year prison sentence in a minimum security prison farm

The worst outcome:

He keeps going, totally ruins his family, commits suicide…[Read more]

ShaneB, you might be piling up the post, but gees, they are all of a similar consistant quality

As an almost lawyer, my strategy for the situation would be:

-Basically, he has got to take ownership of this problem, that way he can also take ownership of his defense of the problem. At best case, he can make himself the victim

-Legally, this means he needs to own up (quickly) and with the same breath declare himself mentally deficient or…[Read more]

Difficult to get positive gearing in Queensland now.

Ipswich used to be everyone’s favourite (I believe even Steve would even have a few here) for positive gearing. Now, some properties have increased 400% in 18 months. That’s no joke, I just sold one.

Be patient. Unless you are looking in the market every day to find the fraudulent agent or the…[Read more]

Walk away, HG Wells. Walk away.

If you are buying for capital gain, look for a house with land. I frown on this investment very much because its no where near positive geared and you’ve got body corp…

It’s all good to buy for capital gain in this market, but it should be a reno or at least a nice bit of land

Keep looking

I got my first house with Austudy and the home grant. It can be done, just sweetalk the bank

Why GST Div.

If this is done right, both units should be sold as his PPOR. Surely there is no GST.

Surely GST is only payable on ‘trading stock’ or a commercial property?

Land is often a consideration because you have the freedom to create whatever positive geared scenario you can think of with the new building.
eg. duplex, multioccupancy, granny flat

The downside is:
The land is not in established area known for tenacies
New buildings cost more than old ones often
holding costs while building
Council…[Read more]

Rowan, what I think Designer and I want is Positive cashflow. Estimate for us the value of your Canberra properties, chances are they are not close to positive geared, although I’m sure you’ve done very well with capital gain

What are the closest towns to Canberra (not Queenbeyan). There is Yass (50kms)which is even overpriced and is that it?

Funny enough, I was contemplating a cushy public service job to facilitate my property investing.

The question you ask about positive geared property (2 hours drve) is exactly the issue which I am confronting. Seriously, I won’t take the job if I can’t do the property thing as well.

I think I did find some opportunities but you have to be pretty…[Read more]

Funny enough, I was contemplating a cushy public service job to facilitate my property investing.

The question you ask about positive geared property (2 hours drve) is exactly the issue which I am confronting. Seriously, I won’t take the job if I can’t do the property thing as well.

I think I did find some opportunities but you have to be pretty…[Read more]

Mate, I would always lean towards buying a house than units, townhouse (land appreciates in value,buildings usually depreciate) and no body corp…..

In this market, you should be very careful what you buy and your investment motivations behind it. Capital gain may not be a good enough motivation, depending on the deal

Hope that helps

Did they employ my mother’s pest control business. Sounds like it, it is amoung the biggest in brisbane

A bad agent actually costs the seller money, there are many bad agents keen to rack up a commission at any cost. You describe a few in your article (house sold in a day=sold for too little)

A quality agent is worth double their commision because a quality agent should appear to be an impartial, expert negotiator on the sellers behalf. On a…[Read more]

Fear is constructive, negativity is not.

Life is about living, doing and acting. Life is not about avoiding risk, loss or pain. Those things are inevitable, but can be managed.

People used to question why would I buy in a certain ‘undesirable’ neiborhood. Now similar people are paying five times as much to live in that neighbourhood.

The real…[Read more]

I think more 12 yr olds should be wanting to be the next Gorden Gekko.

This is a joke I’m afraid

You only need three books

1. Streets ahead (how to buy for captal gains/negative gear)
2 Steves book (cashflow/positive gear
3 Real estate mistakes by Jenman (how to buy from bad real estate agents)