wrappack,

A few of us sydney folks are going to the expo together. Would you like to come along? Details (sort of) are in the Forum Fun forum. I’ll post it in the major section when we’ve finished [gossip] about it and can consolidate a day

kay henry

cashpoor, I doubt the same rules apply in australia as they do in the USA- the States is highly deregulated financially- notso here.

But if you’re gonna pay a few bucks for an ebook- why not? Presumably, some of the info in the book will have universal application. Many people on this Forum buy american RE books- can’t hurt.

I checked out the website, and am wondering about the following… RussH, it does look like flips, but then one of the testimonials discussed “controlling the property for 5 years, so maybe it’s more lease-optionish than it seems. I would be wondering about the rights of the vendors in selling their homes… they are selling to peoplewith ruined credit ratings who are paying $5-$10 for the properties?? Makes you scared about selling an IP- that the person who you are “selling” it to, doesn’t have a brass razoo! I wonder what happens to the original seller if they ever clamp down on this (whatever it is) practice. Do they get their property back?

kay henry

postie- yeah, kings cross station wads on the original game, but I do believe that’s based on a major station in England.

residentialwealth, I’m not sure I understand the meaning of your question about asking who of those who post on here own property. Some people do, and some people haven’t yet purchased. Everyone’s at different stages. I think this Forum caters as much to newer investors as well as to those who have a number of properties.

kay henry

hehe Rubba- read the topic again- points 2, 3 and 4 count. The rest is a good read though [strum]

kay henry

Well, monika would kill me if I gave you one of those pinkies, Mr Guru, but how about some of these instead?

[daisy][daisy][daisy][daisy][daisy][daisy][daisy][daisy][daisy][daisy][daisy][daisy][daisy][daisy][daisy]

They’re quite nice, I think

kay henry

Do all investors take out Landlord Insurance? I did after I had a very risky tenant and then of course, the tenant was gone and I didn’t need it anymore!

I wonder if people only get it if they are in a flood zone, or are worried about their tenants not paying, etc. As for me, I now have two very stable tenants and am not gonna get it (for now).

What about you all? Do you make it a part of every IP? Or do you just select the ones you classify as more of a “risk”?

kay henry

John,

A 10% yield on a 100k property is not too bad [thumbsupanim] but you also say the property is “remote”. By that, do you mean it is 10km’s to the nearest shop? Or do you mean the town itself is remote from a capital city? Basically, ya wanna think about how big the town is, if there is any industry there, any plans of infrastructure happening, etc. This can be found on the council plan, which you can find on the net. You won’t be getting 200 bucks a week if the bank is closing down and your tenant works for the bank. But some mining towns- considered perhaps to be “remote” have almost guaranteed tenancy- IF the mine is still active; and some more outback towns have a steady flow of itinerant workers- teachers and nurses etc, who wouldn’t buy up in the town, and whose employers pay subsidised rents. “Remote” in the days of the RE boom is different to “remote” in the olden days )

RE you making an offer… If you really WANT the place, and you think it’s a good deal, you might have to pay for it, because if not, there will be someone else behind you ready to take it. I think it’s all about establishing a relatoinship with your RE agent. My experience of RE agents is that generally, they’re ok people, and as they’re working for the vendor, of course they want to achieve maximum price. “Lowballing” might work when you have a range of properties, and you don’t really care one way or another if you get the IP or not, but if you REALLY want the place, then let the agent know you’re serious. That’s a part of the negotiation- the relationship part- and can’t be underestimated, in my opinion.

kay henry

Mel,

What is “Relay for Life?”

kay henry

techa,

I can see that LMI worked for you- that’s great

dereksam did ask for opinions, even this:

“I am open to conflicting views so I have different alternatives to consider .. “

… and so, I gave him my opinion on LMI. I think it’s also an important factor that derek is new to RE, and he’s soming in at a time when CG is probably going to be much less than when others might have gotten in.

As such, I would be factoring LMI onto any deal I bought.

Just different perspectives on the same issue

kay henry