We are currently looking at selling our ppor, and know that due to it’s being in a top location, and being a ‘wow factor’ type house, that it won’t take long to go. Our only problem is that we have one poodle and 2 quiet cats – so finding a rental is proving difficult.
Don’t know if I’m allowed to ask on the forum, but if anyone has a top quality home with all the associated inclusions, that they would like to rent out in
Wollongar/Alstonville/Ballina and you would like excellent tenants…… email me at
[email protected]

Don’t know who said it, other than Germaine Greer, but I like it.
“discontent is a great motivator”

talk about turning a neg into a pos!!!!!!![]

As a buyer’s agent, I have a reasonable fee structure. I charge $400 for the first $200k purchase price and $200 per $100k after that. You do need to be registered for gst.
Most buyer’s agents work for the real estate agents, and promote much more closely their own properties. They don’t charge the purchaser anything, but instead work on a basis of conjucntion sales – ie they share the real estate agents commission. They must have real estate qualification -as do I-, but since they work on commission basis, they like to sell the higher priced properties. I CHOOSE not to work with agents, tho’ am linked to one if necessary. And no, I’m not after business, just letting you know what sort of fees are out there.[:X]

You need to get advice – find a good accountant – ask on this site for one close to you.
You should also get a good mortgage broker, and get the debt from your ppor, onto your ip – simply because as a self employed person, that interest is tax deductible – but not the interest on your ppor.

You have a lot more to consider.
Firstly, have they any deposit or fhog’s to come off the pricipal?
But, mainly, you have only calculated this as an interest only loan, therefore your wrapee owns nothing after 30 years!
May need to read the book, and find some software capable of adjusting interest figures for early payouts.
More homework needed[]

What we need is quite simple. On the topic page, a column for ticking – 2 boxes – one for ‘interested’, another for ‘contributed’ – this would save a lot of hopping.

Rainmaker, Hi, and welcome.
This is a great earner, so why don’t you try to bag it? Maybe even get a joint venture?
I’m sure you could get this deal by yourself, you have excellent equity, plus a great deal of cash.
Are you afraid of big deals? You have the means to be independant – go for it[]

Gus, do I understand from your post, that your passive income is not from property?
I have achieved a good income, financed by property, but bigger income from shares (writing covered call options).
Still, my love is real estate, and the shares will give me a great income to buy more properties.
[]

Have just returned from Rocky on Fri. Spent a week there, and found a huge difference in quality. Some agents were obviously trying to rip me off – showing places for $79k that were worth $40k as a throw away offer. But, amongst them I found great homes, with good returns, with ABSOLUTELY nothing wrong with them, beautifully cared for, some with new kitchens/bathrooms.
All appointments were made on the previous Friday, with at least half of the properties being sold before I could get a look. A couple of agents told me straight away that they had nothing left – one had sold 13 under $100k last week. So, maybe that house really did sell for that price? I think that you will find that the market has really moved there since 3 months ago, and if it is anything like the Lismore market, the prices here (similar to Rocky 12 months ago) have this year added $60-100k. There is nothing under $100k here – even land here has jumped from
tops $60k, to $100-170k.
My feeling about Rocky is that it is following the rest of Oz, and still has a long way to go before slowing.
I also had an agent ring me after not making a sale, asking if I could make a decision in 2 hours, if so I could have a duplex for $145k. I said I didn’t like to be rushed, and would do due diligence on anything I bought, also that I knew of another duplex for $142 with a bigger return. He rang back within 2 mins to offer $140k then in the same breath $135k, and said he wasn’t trying to be pushy!!!!! Passed on this one- wonder why?

Hi, Magnum.
It sounds like you didn’t do your research properly. Don’t be in such a hurry – there are ALWAYS good deals.
Do some research so that your wife feels just as confident as you. Ask her opinions and include her in research – she can be your best supporter.
Good hunting.[8D]