First thing I would do is talk to your brother and sister and see what they want. Then sit down with that information and work out if it suits you. Remember its your brother and sister.
Then if you are interested talk to your solicitor and finance provider.
I would increase by $30 if the tenants are great and another small increase next contract time.
Also you might offer 6 month contracts only, therefore allowing you to push up again.
If I were you I would run off to my accountant and sort it out, not just for now but to get the best structure in place going forward. Remember bankers, brokers and real estate agents might be able to help you in some way but you need to be set up correctly from the first ball.
Frankston is an interesting place that I personally believe will provide growth in times to come. However, the area has gone through some growth over recent years and I don’t believe you need to be in any hurry.
Frankston is starting to see more and more $1M+ developments and this is a good thing.
I personally will look to stack some more VIC properties including Frankston in the comming years.
If sliding a letter under their door doestn’t work, try a CITEC search. You can visit http://www.confirm.citec.com.au and do an address search to get lot and plan details, and then use these to get a title search. If you don’t like using your credit card on the internet, there are companies that perform these searches, or just contact your solicitor.
Market value for a property is what it sells for…..
So if you purchase it for a price that you believe is great or is less than what someone once paid for it then, good for you and GOOD JOB.
BUT you are not screwing the presious owner because if you did not post the winning bid the bid below yours would have won!
Glass half full? Glass half empty? No its half a glass.
Don’t worry about what a real estate agent says.
Make the offer with a small deposit if you wish but I only provide a deposit once we have a preliminary deal.
Remember its not a sellers maket anymore, tell the agent to do his job.
Like all services you get your good and you get your bad.
If you don’t have much time to find the right deals then maybe a buyers agent is of use. I believe that if you have the time and can seperate from property deals emotionally then go it yourself.
