Wow Barney,
Gee you were fired up. Giving out such heated generic property advice without any substance other than glancing through "3 years" of other forum posts. Since this is an open forum and its just your opinion it cannot be wrong. I do agree with you that sometimes alot of questions on here can start with the old "How and where do I find +CF properties" etc, or the lazy posts where people want to be hand fed a bargain without an inch of self education and homework. But you'll find they drop off (or ask better questions) over the years when they realise that its bloody hard work and not as simplistic as that. I personally learnt a lot directly (or indirectly) on this forum when I first started out a few years ago and still do. Also, I hope you don't use so many exclamation marks!!!!  Full stops……..and random CAPTIAL LETTERS in your classroom! 

Look forward to reading your posts on your future successes.
Happy "Developing" Barney!       

Cheers
Hutch

Dont worry about egos. Offer $230k with a settlement date on your terms. If he is staying back purely to get rid of this property, then clearly you are in the box seat, NOT the Vendor or Agent!
go for it….[biggrin]

Phew…What a great story. Very entertaining!

Finally sifted through it all and I would re-neg the IO loan on the Commercial if poss.
I have a couple of my developments on IO, but having said that I genrally off-load the project after 12-18 months.

Any little edge you can get to re-invest into other IP’s is a good thing!
cheers
hutch
[biggrin]

(BTW- Did I understand that you purchased Steve’s book in NYC? Is this correct?)

I disagree. Tarneit/Hoppers is booming will have very good infrastructure in the next 3-5 years, with slow but steady capital growth (Just so you know I have IP property in these areas). Having said that Carrum Downs will have much better CG in 3-5 years and I would personally love to be closer to the water.

In Melbourne its the old theory that your CG speed will be in direct correlation to your radius distance from the Bay.

Find out what the “Sales” department of a Real Estate agency is charging in commission rates. If they are discounting their percentage rate. You can bet that this with filter on down to the Property Managers in that office, in the quality of their service. Don’t forget that most prop mangers only care about the quantity (numbers) on there books, not the quality. I have been burnt many times by incompetent and under-qualified Property managers and it hurts bad!

Slowly but surely, word of mouth from friends/colleagues/family has helped me change this.

Toyota Hilux SR5 V6 Dual Cab Ute(2006) Black!
(I love my beast)

hi juzz,
Tarneit is a good area that is expanding rapidly. Infrastructure is growing too. Hence all the shopping strips, malls and major chains going up. As well as upgrading of Werribbe Plaza and the Massive Multi Million $$$ Werribee Marina development. But it will take you 30-45 mins in peak hour to the CBD and minimum 60 mins to Hawthorn at night.
cheers
hutch

yeah, I have been thinking the same for a few weeks!
So has my brother who lives in Perth and has IP’s there. Your post has come at an interesting time. There are rumblings in the WA market place from “experts” that prices are on a plateau or on a slow dive down.

Will the Auction results, Investors or the Print media dictate the property market for the last qtr of 2006 and beyond????