Fatboy,We do the same thing, buy ex housing commission – or mainly, and sometimes do them up, sometimes not.  We have had a few problems, but that has mainly been our lack of managament of our agents.  Whenever life gets too busy, and we rely completely on agents, things tend to reflect that.  With a young family, and moving interstate for the 6t…[Read more]

I had a bad today.   Thanks for the laugh, it has cheered me up.JL

Thanks all.  Good one Duckster, they do wine insurance as well.  Sounds like a company I will need in the future (or maybe I will just keep drinking to make this headache go away).JL

Thanks.  Appreciate your prompt response.  Have a great evening.JL

They actually do have Australian houses on their sight, all be it only a couple, including a 3 bedroom, 2 bath "Ranch" in Canberra. JL

Mike,Thankyou for the report.  I had not seen one before so thank you for the education.  I also appreciate the prompt reply.I will pass on your details to friends.Thankyou,JL

With all this mining gloom, does anyone have an opinion on the mine opening by the end of the month 20km outside Ouyen.  Illuka have received the final approvals and began preparation to begin mining before end of Jan.  Personnally, I still think it is good buying. Thanks,JL

So, it's happening.  Check this link for the media report.http://www.bananasinpyjamas.com/news/stories/2009/01/09/2462242.htmI haven't spoken to my agent yet, but it will be interesting to follow the property now.JL

Thanks for all your advice.  The agent did go in and checked that it was locked up, hence knowing the carpet needed cleaning, the yard needs a tidy and the possessions that are left in the house.  The tenant had advised by phone that she would return the key, but every time she says she will, she never shows.  Now she won't answer her phone.  I wo…[Read more]

My understanding is that you get the insurance before settlement to cover yourself.  If on the settlement inspection (usually a day before settlement) things are not as they were, then you can delay settlement, until the necessary repairs are completed.  What if that doesn;t happen for two years.  You have a contract, they have your deposit, an…[Read more]

C2,Thanks great.  I love your thinking.  At this stage the agent has applied to tribunal, but we have to wait a couple of weeks for the hearing – the joys of having regional properties.  I think we might just get a debt collecting agency to collect the rent arrears once an order has been made.  Even if we have to forfeit 50%, we are still bett…[Read more]

The agent does have a spare and went round the other day.  She said they still some limited furniture in the place and photos of the kids, but no sign of anyone living there.  The agent spoke with one of the tenants last Friday when she was moving out.  They said they would hand the keys back Monday.  (I think I have a nieve REA) What's the dea…[Read more]

benmelbs,Have you bought in Ouyen.  I notice that a set of 5 x 1units have come on the market for 180-220k.  If you could hold until the mine opens, it could be a very profitable purchase?JL

Who did you get the 'info' from?  Did they give you detailed figures.  JL

I know I am a bit late.  I got onto this Illuka thing late last year and went up to Ouyen for an Auction.  The town is nice.  I spoke with many, including the girls at the bank, the bakery, the supermarket and even high jacked the unemployed single mother walking the streets etc.  I could not find a person who did not like living their.  So I went…[Read more]

For the first time ever we have had more than one applicant for a property we have that is vacant.  We did our own advertising and initial vetting.  Narrowed it too four.  Then passed to the agent.  Three applied and we had to choose.   We live 4000k from this property.  I respect our agent, but understand they don't only work for us.  They hav…[Read more]

So just out of interest, we have had a property on the market for over 100 days.  We listed it at 229k.  The highest offer was 215k and we thought about it for a couple of hours and in the mean time the offer was withdrawn.  The next highest offer was 195k.  This website said the property was worth within 2k of what we advertised.  JL

Have you tried gumtree.com.au (I think thats it – but type gumtree and your cappital city and it should come up).  It is free and seems to have heaps of traffic.JL

Say you live in country australia and your first home will cost you $80k.  Your income may only be 30k.    You only pay $2400 tax anyway, and with some normal work deductions this means that you may only get back $2k per year of the interest you pay.  It may take you 5 years to gain the same benefit as it does with the current system, all the whil…[Read more]

Sounds to me like your idea will give the rich a much better deal, and those on low incomes a much worst deal than they already have.  I'll think I'll get rich, buy the most expensive house I can with the biggest mortgage I can and claim the deduction (at the highest tax bracket of course).  And instead of moving I'll just borrow more to extend an…[Read more]