Forum Replies Created
In case anyone is interested, just thought I’d let you know that today I pulled out of the deal on the unit.
The sellers wouldn’t take any less than full price, I felt the body corp fees were too high for what they provided, and on further investigation the ducted aircon was over 20 years old and I was too worried about the expense if I had to replace it. The agent insisted there were other buyers waiting, but I never know whether to believe that, so went with my gut and refused to offer higher.
I had to go back to my initial goal of +ve cash flow, and although the unit was pretty good otherwise, it was creeping further and further into the negative the more I researched.
Hope I made the right decision, but feel I gained a lot of learning experience just from putting in my first offer!
Thanks to everyone that replied and the PM’s were so helpful.
I’ll keep looking!
Cheers,
JoDThanks Ali G, for starting this topic! [biggrin]
It’s been great to read that everyone else also experiences the ‘you’re mad!’ attitude.
Never being much of a conformist I’ve heard ‘you’re mad!’ a lot, but it is still disheartening to hear ‘you’re mad!’ when I am actually being serious about something!
I am slowly managing to block out the ‘you’re mad!’ comments and hope to have my first IP soon!
Cheers,
JoDHi Josh,
When I purchased the property I currently live in, which is a duplex half, we had a clause that stated we’d like to meet the neighbours and reserved the right to cancel the offer if we didn’t like them! I was surprised the Real Estate agent even let us get away with that one! We just wanted a way to get out of the deal if we needed to. (The neighbours are great by the way!)
Cheers,
JoDThanks KP,
Have PM’d you. I must admit I have not done much research on Property Managers up there in Karratha. I am in Perth. Prepared to fly up for a look see if I am going to finalise anything.
JoD
Thanks for your calculations PropertyGuru and Steve – much appreciated [biggrin]
I wasn’t expecting the body corp fees to be that high and that blew my calcs out a tad!
I have made an offer, subject to building inspection and also more photographs provided, just to get my foot in the door, but still be able to pull out if necessary. I was glad to read that you (Steve) brought that up as a possibility – as that’s what I had already done!
I will think the unit over some more and thanks for the suggestion on some creative rent raises. I shall search the forum!
This may be a silly question – do the body corporate have any control over rent? I mean do they have power to say ‘hey that’s too high you can’t ask for that rent!’ or is it none of their business?
Thanks again, this forum really helpful
JoD
