Try this port star- an article on Mt Isa real estate:

http://www.theaustralian.news.com.au/common/story_page/0,5744,8300611%255E2702,00.html

kay henry

Props!

When ya gonna put mine up? I sent it to you via email *poke*

I know you’re there :+P

kay henry

Fact or experience is a hard one… I wouldn’t wrap if you paid me- hehe.

I think they are unethical. I believe in paying a fair price for houses- buying them from vendor’s at fair value and selling them at fair value.

Fair value plus market mortgage rates- simple vendor finance.

One hting I find about the wrapping sites- they often are so desperate sounding “Hurry now!!!! You’ll miss out! What are you waiting for???” I find them kind of sad.

Sorry- there’s nothing factual about what I’ve written- but I am not going to undertake practices that I find unethical, to be able to have an opinion about them. It would kind of defeat the point of what I’m about.

kay henry

Chan, I think you’re confusing a “property manager” at a RE with a RE agent selling your place for you. They have nothing to do with one another really. For example, you could have a PM from one agency, and ask another agency to sell for you.

If you are selling privately, be careful about using the PM as a defacto seller… they will get jack if you ask them to do all the functions of an agent who might be selling for you. They’ll probably want to just continue with their usual functions of collecting rent, paying bills on your behalf etc. But, Chan- they are not gonna charge you commission for you making inquiries about what to do re intruding on the tenants’ lives by selling.

I imagine you’d probably have to make private arrangements with tenants if you’re selling, about the tenants allowing people to view the property etc. but others on here can tell you that in more specifics. I recall that tenants have to let you show people around if you’re selling a place, so they can’t get too snippy with you for wanting to do so.

kay henry

elves- do you have a Property Manager for your property? If you get a good PM, they will be able to create boundaries for the tenant. Then you and the tenant have a buffer between you, and the PM can quickly resolve any minor problems.

I once had a great PM (who then changed RE’s :o( ) and she used to just go in, do an inspection when she had to, and fix stuff in the properties herself!!! hehe- she was a total find

I would rather have a PM negotiating with a difficult tenant than me feeling like I have to argue with a tenant, and me constantly uncertain of what the tenant’s right are versus my rights.

kay henry

sis, if you try to take bond money out of bond money- for the window, for example, when you (the owner) have agreed to pay for it, you will be taken to the Residential Tenancy Tribunal, and the tenants will win. For a guy who owns 13 IP’s, you have an interesting perspective on how you are able to use bond moneys. elves propbably need not have fixed the window at her own expense, but given that she did, you can’t just go around taking people’s bond money willy-nilly- sheesh.

elves- i sympathise with your situation. I wonder will your tenant actually move when the time comes! or will you be a slave to the tenant forever? []

kay henry

Yack,

I bought my first place 9 years ago- set and forget until the property boom. But the rules are the same for me- even if I bought a place next door to where I live, I have a very hands off approach re management.

For example, i lived on the coast- 5 mins from my IP, but never even thought about it- the PM did everything for me. I forgot I even had it!

I have 3 IP’s- one is 1.5 hours away from me, another 6 hours from me, and another is 10 hours from me. I have nothing to do with any of them. The only time it takes me to think about them is when the PM’s send me statements about how much money they’re transferring to my account each month! :o)

It would be the same for me if I had 10 IP’s all over australia- takes no time at all to think about your investments when you have good PM’s. I am a *very* passive investor- almost in a coma really- hehe. I think if I pay PM’s to do a job- then that is what they do- “manage” things for me. I want them to be real managers- to make decisions and to make the day-to-day operations of the investments functional.

I often hear about people seeing PM’s as really only rent collectors. Thw owners may as well keep half the management fees, as they are so close to their investment. I am totally hands off, and let my PM’s know my expectations. Then it’s up to them :o))

To answer your Q- it takes no time at all for me to do anything- just slit open the mail each month.

kay henry

That’s alright, Mel- I can be included as a “guy”- I am pretty butch after all :o)

I understand the thrill factor- I like taking off and landing in planes – and turbulence! to get thrills too- I would fly all day and night just to do that- it’s so much fun. Although turbulence isn’t about facing fears etc- it’s just about kicks.

Mel, i fully believe in people taking responsibility for themselves too. I hate it when people take their shit out on other people [] then again, victims suck too- hehe.

Mel, I’d love to meet up with you when you come to sydney. If you have any time when you’re here and not being “robbinsed”, we could do a coffee or something )

kay henry