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kay henry
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@kay-henry
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Post Count: 2,737
December 13, 2003 - 8:18 am
Actually, no Mick. He merely collected the rent, didn’t furnish the place- it was a share household, and ripped off his fellow tenants. It was very wrong- but then, wrong is in the eye of the beholder these days.
kay henry
kay henry
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@kay-henry
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December 13, 2003 - 8:09 am
eah, Felicity, I see what you mean. But I am referring to the date of settlement- Bronny needs to settle in 4 days- as in complete the entire transaction. I can’t see any vendor in the world allowing “subject to’s” right up until the due date for completion!
How long was your settlement period, Bronny?
kay henry
kay henry
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December 13, 2003 - 5:54 am
fransam was probably a plant. This place is like a nursery, Kavita- i wouldn’t feel too worried about her/him :o)
kay henry
kay henry
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December 13, 2003 - 5:46 am
Chippendale, sydney :o)
Would be good for sydneysiders to catch up for coffee or Friday evening drink or something. Cashflow diagrams would do my head in right now, but a social drink would be good
kay henry
kay henry
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@kay-henry
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December 13, 2003 - 5:41 am
Allan :o)
Simon seems like a nice guy, I reckon )
You won’t be eligible for the FHOG if you buy an IP.
kay henry
kay henry
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@kay-henry
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December 13, 2003 - 5:29 am
Phobia,
I can understand what you’re saying, but do you think any young people actually use cheque books? I know my mother and father used them (the over 70’s people), but I see them as fairly passe.
*pokes the younger people* Do any of you have cheque books?
kay henry
kay henry
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@kay-henry
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December 13, 2003 - 3:55 am
sis,
Just wanted to thank you for your reply :o)
kay henry
kay henry
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December 13, 2003 - 3:51 am
Merlin,
Reading not-so between the lines… seems like the area doesn;t have access to higher education- ie TAFE or uni, and employment might be a bit slow. I wouldn’t kill it off as a prospect necessaily… what is the current population? (as in, can it sustain a bit of emigration and still have a rental market?) Does the area have distinguishing features? (eg cultural or landscape features etc?) What are you looking for?
If ya want cheapie properties, ya ain’t gonna get them in Vaucluse- that’s a reality. The cheaper the properties, the more likely that there’s a reason for it.
I’ve read that wagga has had a slight population decline (and then somewhere else that it had a pop’n increase!) but the decline thing didn’t worry me- because in itself, the city is 50k population, and has a number of qualities.
If you’re looking for capital growth in any small inland town, you might have to look elsewhere, but rental yield might be decent in Port Pirie. Ask the local RE how they feel things are going- or ask a local shopkeeper for a more “objective than RE sales guy” view :o)
kay henry
kay henry
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@kay-henry
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December 13, 2003 - 2:54 am
Charchie- heya :o)
The bodyt corp fees are pretty high at 3,300. Is it university accommodation or something? some places with a gym or other high maintenance equipment require owners to periodically pay a special levy to update the equipment. You might wanna check that out from past B/C minutes.
i have a rule about BC fees- I won’t pay over $1000 per annum. But then again- 60k for an apartment is bloody cheap, so perhaps the annual costs seem very worth it.
As with Sue, I’d be interested to know what size it is. Also, if it is uni accommodation, there might be a possibility of taking out a long lease with the University.
kay henry
kay henry
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@kay-henry
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December 12, 2003 - 10:14 am
New Year sounds good MiniMogs :o)
Re mentoring, I guess I feel I learn technical information from a number of sources- from here, other forums, from books, newspaper articles, RE agents, banks, IP’ing friends… so many people! But to me, that’s all a part of “research”. So that’s the technical bit. In terms of perspectives, I like to work stuff out for myself. Read as much as I can, and then analyse what seems right for me. I really need that independence. It doesn’t mean I don’t agree, of course, with much of what others say. It just means I think even mentors can be full of it :o)
kay henry
kay henry
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@kay-henry
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December 12, 2003 - 8:25 am
Nathan,
You don’t need to look for mentors (leaders). I am sure that your experience in life and your willingness to get into RE investing gives you many skills etc :o) You can meet up with other people with similar interests. The notion of “mentoring” is a bit patronising, I reckon. I have no doubt you could meet up with people with skills, such as Tom spillane, and together, you can discuss RE until the cows come home!!
And MiniMog- yes, let’s do coffee We can be the “3 IP’ers”. hehe. I live in chippendale. Nathan, please feel free to hang out with us and discuss RE, but I have nothing to teach really. I spend too much of my life learning to teach. But mini knows a thing or two about stuff [] so she might be of more use
kay henry
kay henry
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@kay-henry
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December 12, 2003 - 6:27 am
Allan,
How will you be affording to buy a property if you and your wife are both pensioners?
kay henry
kay henry
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December 12, 2003 - 4:49 am
benno,
go to google.com and type in “geraldton population” and go to “australia only” site. thentype in “geraldton rental” or geraldton median value” or whatever. Think of every combination of words for things you want to know. You could just type in “geraldton” and everything written about the place will come up. There’s no quick answer to these things. you probably have to spend hours trawling the net to read up all you want to know.
kay henry
kay henry
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@kay-henry
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December 12, 2003 - 4:00 am
bronny, I didn’t know *settlement* had “subject to” clauses. I thought the business of purchasing- gaining finance, getting valuations, BPI’s etc- were what the cooling off period were for. I thought once the cooling off period was over, there was no more “subject to” outs from the contract. Anyone know if I am wrong in these thoughts?
kay henry
kay henry
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@kay-henry
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December 12, 2003 - 3:57 am
Ghoti,
Maybe the Persian carpet guys put the sign up in the wrong place :o))
I think it’s quite unprofessional of the Real Estate Agent selling the place to put up a “liquidation” sign as a strategy. It means that the seller will probably get bottom dollar at sale. Perhaps the seller requested or ok’ed such a sign, but seems like the RE people should know better.
On the other hand, perhaps it’s a new strategy to get buyers in- after all, you yourself noticed the sign, whereas a regular sign might not drag in the purchasers. *pokes you* Gonna ring the RE and find out the story for us?
kay henry
kay henry
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December 11, 2003 - 1:27 pm
ricky, go to google.com and type in the name of the town, and click “australian sites only”. Anything that has been written on the net about the town will come up from this search.
kay henry
kay henry
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December 11, 2003 - 1:17 pm
Bear,
Thanks for your response. I am sure what you’vre said isn’t out of line, as you haven’t said anything controversial. Given that the Snitz forum is shareware, I presume it costs zippo, zilch, nada to run this forum. But I must be mistaken.
kay henry
kay henry
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@kay-henry
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December 11, 2003 - 4:52 am
Yeah, I remember a guy I knew trying to pull that one a number of years ago. He decided he would charge everyone else higher rent, and have a free ride himself. He didn’t let anyone else know he was getting free rent.
It all fell apart after a few weeks, when people found out what he was up to. The guy then suffered a bit when everyone else around him- a social/business community of about a hundred people- decided he was complete scum. In our community, you just didn’t do those things. Guess some people might champion him as an “entrepeneur”, whereas in our world, he merely got the reputation as a thief- using other people’s money- dishonestly. funnily enough, poor old George couldn’t see that what he was doing was wrong- it’s funny how some people justify themselves. What’s the point in making a few bucks if you completely lose the respect of your community?
kay henry
kay henry
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@kay-henry
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December 11, 2003 - 4:38 am
nudged, this article might give you some info:
http://www.smh.com.au/text/articles/2003/09/26/1064083195675.htm
There are a number of articles on deposit bonds. I typed in “deposit bond off the plan apartment” into google.com (australian-only sites) and came up with a large variety of info
kay henry
kay henry
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@kay-henry
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December 11, 2003 - 3:23 am
sis, that link discusses your strategies. I think people are really interested in the nuts and bolts of it. I wonder if you wouldn’t mind sharing how you bought your first IP- like did you have a cash deposit, and when you were able to invest in the second one- and how etc. Of course, if this info is private, then please ignore
Most of us here wouldn’t have known it was possible for a student/part-time worker to be able to become a property millionaire with 11 properties in one year.
kay henry