It is a residential tenancy, leased to a company.

All things are possible to the person who believes they are possible.
Whateve the mind of man can conceive and believe, the mind can achieve.
Napoleon Hill

I don’t need to worry about the previous water bill as this was paid by the previous owner.

The bond will probably cover the repairs but not the outstanding rent.

Oh well, at least we know where the business is and can send in the sherrifs.

Later………

All things are possible to the person who believes they are possible.
Whateve the mind…[Read more]

I generally use IRR as a measure for all standalone properties.

Need to make some further assumptions.

rates & management fees 10% of gross rent
maintenance & insuracance 5% of net rent
2.5% capital depreciation of full $100K outlay
all tax based on maximum 48.5% rate ($80K is $10K above maximum rate now but will be phase in point for the…[Read more]

Not sure about SA but I thought if you made a written offer then it hasd to be presented in all states.

A verbal is worth what it’s written on, absolutley nothing.

Put it in writing and then everyone can see you’re serious. Either get the agent to write it up, fax it to you to sign and then send it back. You get you friend to do it with a pro…[Read more]

two? ewwwwwww.

nothing said she was changes into clean undies??????

L8r………..

If you think you can you can, if you think you can’t you can’t.

oooooo another -ve geared argument [exhappy]

I guess it all comes down to losing money now in the hope property prices go up or making money now and hoping your property does not go down in value. To me, the second is my choice, at least I know what I have in my pocket each month (I never want to sell). Forking out money from my pocket each…[Read more]

It will end up being a flip, a first for me.

Found out the Vendor was in a tight posi when the agent rung me up (I get on quite well with the guy) saying his Vendor is going nuts and was chewing him “another one”. First time in 20 years he’s had anything this bizarre happen to him as a REA.

Agent basicly was washing his hands of his Vendor as…[Read more]

BIR = Building Inspection Report

The property is being onsold immediately at a profit with the Vendor paying all commissions, SD and taxes.

Later………..

If you think you can you can, if you think you can’t you can’t.

Quite correct Monopoly.

My post was firmly tounge in cheek regarding my dad being pissed!

Should have used one of those smiley thingies………

If you think you can you can, if you think you can’t you can’t.

To my thinking “retire” means that you don’t have to work for someone else or even yourself to survive.

Would essentially come down to enough passive income to meet all you expenses, or sitting on your bum all day and the money would still come in.

Hoping to do that by 40 (currently just gone 37).

I currently consult and think of myself as…[Read more]

Most developers will be squeezing as much out of a development and as such will maximise their return for the smallest lot possible. It is also sometime dictaed by government.

I’m currently working on a JV for a large national developer and the government agency tendering out the development stipulate how much of each lot size shall be…[Read more]

Hi

from what I recall the population in Katanning has been steadily declining over time as businesses and industry (what i’m not too sure) moving elsewhere.

Later……….

If you think you can you can, if you think you can’t you can’t.

Hi Leigh

The main issue was the dodgy plumbing (shower outfall out onto the backyard!!!!) and internal wall changes (some appeared to be load bearing!). Costs to fix these up probably up to %$5 to $10K.

The other issues was the construction method which would really pose no barrier to termites getting into the place, cha ching!

Adding these up…[Read more]

Hey Kay

Still keen on CF+ and they are getting difficult to find (quality ones that is) but I’m sure that they’re there. Been wanting to get into LO’s/wraps seriously as these seem like the way to go in any market, your game your rules. B&H’s with higher yields are getting few and far between except where you want to start accepting dodgy…[Read more]

Hi Deanna

If my map reading is of the same standard and if it is where I think it is be carefull.

Drove through there 6 months ago and the local word was not good. People were selling up and moving to greener pastures.

Later………..

If you think you can you can, if you think you can’t you can’t.

None of my “money” in the deals.

$40K of collateral on the +CF using the -CF collateral or something like that.

Looking about 60% ROI and I think a very similar IRR (from memory).

Later………..

If you think you can you can, if you think you can’t you can’t.

Hi Marisa

Happy to……..

Make ~$25K from 5 +CF B&H’s and lose ~$5K from a -CF

Later………

It is probably being autioned as the owner can’t be located or contatced or is not willing to sell to pay for it.

Could always try though I guess???

High reserves, greedy owners, desperate agents………………..

Another story I can relate from my wife.

She went out for breakfast on the weekend with her friends at a place on the beach advertising breakfast for $17.50 ON THE WEEKEND as a special.

They have brekky and proceed to pay the $17.50 only to be told there is a 10% surcharge on the weekend and the cost is $19.25, what?! No amount of trying to…[Read more]