Yes I agree totally – it really is a lot of extra money to find.

What I really meant to say was that a 1% rise above the current rate isn’t a lot compared to the level that interest rates have historically been in the past.

I just read that 46% of homeowners questioned in a survey said they would be in severe financial hardship if interest rates increased by just 1%!!! Also, just under 20% said they would be forced to sell there home if such an interest rate increase occurred.

I know statistics can be made to say anything, but I thought those statistics pretty…[Read more]

Yes that’s a good point – they’ll always be people lining up to get into Australia as it’s such a great country (I was one of them!)

Wonder if one day they’ll again start letting people in for 10 bucks like they did years ago??!!

Hi Wake

Goodness, no wonder you’re frustrated. I’m sure I don’t need to state that lawyers and conveyancer’s should always act according to their client’s instructions and it look from the facts you’ve given that they failed to do this in both cases. Did you sign written contracts containing the terms? If so, then there is absolutely no…[Read more]

Hi Bonnie

What an awful situation. Under contract law, once there is a commercial contract with certain terms, consideration such as a deposit paid, signed by both parties who intend it to be binding then, subject to any small print (check the small print – although if deemed unreasonable it may not be binding) the contract will be…[Read more]

Hi Cata

I think just focus on your goal, see that big picture and imagine it in detail – picture every part of it in your mind, then just keep working towards it, one small step at a time.

After a set time, stop and look back at all you’ve achieved so far and that should give you a real sense of satisfaction. Give yourself a big pat on the back…[Read more]

I can’t see anything illegal about just looking at the address on the front so long as you put it back in the box.

Technically under criminal law it’s only theft if you take them with the intention of keeping them – a bit like how you can’t be charged with shoplifting until you’ve actually left the shop premises.

So keep looking away!![biggrin]

Yep I agree there are some really good points in the other books – and also some of the new book. I think there are many aspects of property investing that don’t have a wrong or a right way. I’ve just read Michael Yardney’s book which was really good, but contained some differing views to those set out in Steve’s book. I think the best way is…[Read more]

Hi Kiwi- Fulla

Yes I totally agree that most of the properties advertised are retail prices and that is not the way to go.

Yes I couldn’t agree more that profits are made when buying and not selling.

My point was to find a load of properties with good returns to start with, then do all the due diligence and weed out the bad ones and poor growth…[Read more]

– but what about the fact that if you buy properties from the sales side of the business then the lettings side will bend over backwards to give you great service so that you go back and buy more properties (they hope) – which in turn, you rent out through the lettings side.

That’s the theory anyway. I suppose ultimately it depends on how the…[Read more]

Yes I was surprised by her latest book – I read the first two and they had some good stuff in them, but the most recent book was very different and contained a lot of rather strong opinions of hers. It was interesting though!!!

We pay 5.5% inc GST for our country Vic properties and no charge for a new lease with same tenant or for any advertising. In Richmond (Vic) they wanted something like 8 or 9% so we did it ourselves.

With the letting managers I think if helps if you call into their offices every now and then – this also helps keep in touch with the market…[Read more]

Talking of returns in various States – whe searching for properties with good returns on websites – both the domain and realestateview websites have the facility to do a “keyword” word search. If you type in the word “return” you get all the property adverts containing that word. I figure most properties with a good return would be promoting the…[Read more]

Hi

In Victoria you can do an “Index Map Search” which will give you the volume and folio number. With that information you can do a title search and hey presto!![biggrin]

To do the Index Map Search you can contact a conveyaner or a solicitor with access to one of the on-line conveyancing packages. The one I did gave the result within 2…[Read more]

Hi Grant7

I have a friend who has been trying to buy an over 55’s unit for his dad – who is over 55 – to live it. But he can’t buy it as he himself is not old enough. He also buys through trusts and that wasn’t allowed either.

Dunno about an under 55 renting though….

Hi Impatient

Do you mean a business partnership – or a JV or similar?

If it’s something fairly straighforward you may be able to adapt a standard document yourself .

However my advice is that if you need a decent agreement that’s tailored to your situation then phone the Law Society for your State and get a couple of contacts for smaller firm…[Read more]

We did a small Ikea kitchen (no top cupboard though) – my husband and I built the cupboards and drawers in two evenings. I did the drawers in a couple of hours whilst watching TV! We were surprised how easy it all was. We would definitely do it again – although surprise surprise – there were some bits missing!! Also the wooden worktop (Ikea…[Read more]

We’ve just bought 2 houses in Vic on a block with a flood innundation overlay – says land subject to flooding 1 in every 100 years. Last flood was 1950’s, but both houses are older than that (one over 100 years old!). Council told us they’ve taken extra measures since the 50’s eg constructing a new dam upstream and generally maintaining the…[Read more]

Fair point Foundation, I can see where you’re coming from.

My concern would be that we move into her house, which she wants to rent to us for 2 years. If, god forbid, anything happened to her during that time (but I’m sure it wouldn’t as she’s pretty healthy) then we would prefer to have everything in place as to what happens next – WITH the…[Read more]

Hang on hang on Dazzling. Please don’t tarr all solicitors with the same brush! Clearly you’ve had some bad dealings with solicitors in the past and I’m sorry that this is the case, but please be aware that we’re not all bad.

I do resent being referred to as a “wormy solicitor”. We have never met and you know very little about me. You have…[Read more]