Hi, Spocky.
You should look for places that look run down – various reasons, and they won’t necessarily be in a bad area. Ask the agents what properties have been listed the longest – and why. If they don’t know, then ask to speak direct to the vendor.
Some people need to sell urgently, so they will take a lower offer, but in a rising market, you don’t have to go much lower to get a good profit.
Sometimes the neglected property is not listed, but they are happy to get rid of it.
Remember to think outside the box.[8D]

Hi, all.
Sorry for the delay – have been away looking at qld property, and then when u get home there is the stuff to do that you couldn’t while away – where is that magic fairy? Since I too live in fairy land,(tho’ no one’s been game to use that exact term to me) I would love to come home and find the fairies have done it all for me………one day I will give in and get that cleaner!!!!!
Have replied to chan’s email above directly, and to answer some of the other queries…yes, I’m happy to help out if I possibly can – just contact me on that email adress above, and I’ll do my best.
I believe that buyer’s agents are fairly rare, and they are mostly linked to developers, and will try to sell the development units/land solely, while convincing you that there is no better deal available. Others are linked to a particular real estate agent ( in some states this is the law) and therefore try to sell what that agent has listed.
I think this sums up the current situation.

Hope isn’t driving greed – it is driving people to get off their backsides and try – and that’s a good thing.[]
They are not fooled, they are encouraged to have a go. Most won’t even bother, but for those who do, it’s worth the effort.
If they follow the great advice that’s available not only from Steve, but from heaps of places, then they have the potential to do the same as Steve.
This comes down to freedom of choice – at it’s best.[:X][:X]
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Paul, I think here lies the crux of your beef with this site. Most people on this site use and understand, that if you look for bargains with excellent returns, then the bubble pop that you refer to will not affect them too badly. People who are relying on cap gains will be burnt, because the income will be harder to sustain – ie higher renters will be vacant for longer, while people look for value.
If you watched 4 Corners last night, you would have noticed the emphasis there on units in CBD’s bought off the plan for above market prices – now these are the people who should know better, but are easily led by smart marketing.
They didn’t want to do the hard yards of due diligence, as we do, and they have learned a hard lesson.
[]

IS $2195 TOO MUCH?
This depends on what each individual gets out of it. I have only ever attended one seminar – $800 for a weekend (Peter Spann’s Freeman Fox seminar) and personally thought I was mad, but was pacified by the 100% money back guarantee – however this had to be accepted by noon on the 1st day – so I persevered, and found that just 1 bit of info was worth every cent. After that I didn’t care whether I got nothing else from the seminar. This 1 piece of info has enabled me to do more deals than I could have imagined, and yes that info was freely available – but I didn’t know to ask the question.
Not only do these seminars give you info that you haven’t sourced for yourself, but the best thing is the encouragement and camaraderie you get.
Of course they are all trying to sell something – why is their info any less worthy than say a solicitor or doctor?
If these seminars help you to start towards financial independence, then the judgement of value is up to you.
Personally, I gained so much new info from this 1 seminar, it was absolutely worth it…and you can only judge other seminars by attending them.
What is your background Paul? Are you a financial adviser?

Unfortunately, you learned a hard lesson – don’t try to be too kind – do things by the book, so that you have legal backup.[]
Often you will find that people who sound so nice are quite the opposite – most aren’t bad, but they bear the brunt on behalf of those who are.
The law acknowledges that such people exist and will rip you off, and this is why bonds are necessary.
Kevman is so right – an agent can do the dirty work for you, and is worth the money, to give you time to be out there doing other deals.
Better luck next time[]

Susie, u will find your accountant will love you if you keep them separate![]

H, Susie.
You might find a lease contract at the newsagents, and tenants pay for their own water and electricity. You should pay for the provisions of services, so the gas bottle is yours, the gas is theirs.
cheers[]

Just a thought – why do you think it was necessary for them to give a cash inducement?

Because the mortgage broking industry is a cut throat place to be – sure the rewards can be great, but competition is tough. There are many brokers who don’t genuinely go thru all their available lenders – so they are not giving you the best deal – just the best commission for them.
Chasing lenders for trailing commissions can be very hard, so a lot of brokers don’t bother with trails. And, believe it or not, lots of people apply and are approved and then change their mind – so a lot of work is done for no return.
Often, a broker gets the loans that are hardest to finance, and spends many more hours trying to place a loan than you would imagine. Even tho’ a broker gets paid good commission, the loan is no dearer to you because of this.[][]
And in the end, if they get you a good deal, then they deserve what they earn, and so do you.[]