I won’t argue with Terry because he certainly knows his stuff, but if no contracts are signed wouldn’t it be hard for the real estate agent or solicitor to take it further?
Have you signed the contracts? If not, you don’t have to do anything. Happend to me last week. If you have signed contracts, the vendor must sign within 3 days otherwise the contract is terminated. This is the case for Victoria any way.
Thanks Richard, could you email me a copy of your API interview (0-40 properties in a decade) [email protected] been meaning to ask you for a while but keep forgeting.
Jnb, Im thinking of opening a trust with a company as trustee, Do you find it complicates things? Everyone i talk to says its really complicated. My only problem is i have already purchased the property so i don't know how hard it will be to put them in the trust.
I've always put new kitchens in my IP's. I am a cabinet maker so for me doesn't cost me much at all but the first thing people want to see is the kitchen and bathroom. Doesn't have to be flash, just clean and practical.
At the end of the day it might even attract a better tenant.
Don't forget you will most likely need more funds for the kitchen, for example – applainces, plumbing, tiling, electrical. The $4000 IKEA kitchen is more likely to be around $6500. Still worth it in the long run
Thanks for the info everyone. I've spoken to the solicitor and has informed me that before the vendor gets a cents all outstanding bills will be paid for and anything left over will be handing to the vendor. The rates weren't paid for nearly 3 years so it's not a bill i want to receive!
Thanks for clearing that up Ten burner, but now that i've read the link that Terry posted i am confused. From what i can understand the council has the right to sell the land after a certain amount of time? Is this right or have i read it wrong?
I've purchased a corner block in Laverton last year and thinking of doing the same. Problem is Laverton is still 10 years away. You really have to buy, sit and wait it out.
Hi Alex, I’ve got a couple of properties in Laverton and in your boat. I’m also thinking of building 3 town houses but I think its best to wait another 5 years or so. Still needs to pick up a bit more and clean itself up.
