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posenterprises, you only waste your time if you have been offering constantly for weeks or even months on end and dont get a deal, but if you offer over a 12 month period and pick up 3 or 4 deals well thats not bad. i basicly try for 1 deal every 2 months but sometimes you might strike 3 or 4 deals in that time.
theres thousands of houses for sale so its not hard to find real good deals where theres cash to be madei no, tell the old people you have a nicer house they can move into for $1 but the lease expires when they go into a retirement home or they die and if they agree then the house there in at the moment goes on the market at full price.
that way they might be gone by 2015 2020 but maybe thats already the deal with the house they have at the moment when they die the lease expires because you would not want them to hand it over to there kids or something and carry that lease on to 2040. other idea go to them and pay them $10k or something to move out. or pay 1 year in a retirement home10% yeild, you would want more than that. 10% you can find with no problems
is this resisential or commercial
kiwi property guy well said. Ive made plenty of offers and i no lots have not been presented to the vendor's but to me the agent is a fowl not to present the offer because you just dont no what the vendor will really take in today's market and my offer is proberly lower than most which if the agent took the offer to the vendor and even if the vendor says no then the next offer the agent takes to the vendor will probaly look like gold and the agent will probaly sell that property.
But anyway the agent is suppose to present all offers and sometimes if they don't i make contact with the vendor and tell them whats going on and what my offer is and in one case the vendor took my offer and told the agent to stick his commision up his >>>never heard of that before when does there lease run out. and how cheap is dirt cheap.
mmmm you have to have your toys every now and again. got a hsv cluby at the moment but gonna ditch that and get a gto monaro or next model up cluby. but if a good property pops up and i need the cash i will dump the vehicle. will i loose money probaly not. last vehicle owned was a dodge ram 1500 pickup 2004 nice to drive but to big to park and it was the quad cab too.
best toy i owned was a v8 holden with a blower coming out the bonnet 1987 vl pumping 200 plus kw not bad for an old girl.
thats odd crashy i do it all the time
get a lawyer to draw it up. be carefull and make sure if they cant come up with the finance after 12 months they loose all dollars paid to you. make sure they cant get out threw a loop hole
hi sulo good idea being creative. but offering a $50 voucher will probally only attract people with no money not something i would offer. offering a free weeks rent would be better
water your 20% deposit is also worth something lets say 5.81% and if you got the house for $220k that means you would need the property to return approx $13k p/a plus rates insurance vacancy etc so now your easily at $15k p/a and with a rental of $250pw will return you $13k and your still out of pocket $2k so this property is negitivly geared. i always take into account everything especialy my own cash i put in because that has to be worth something
it is both resi and commercial but still need a lawyer on the goldcoast to do all paper work when i buy property. and sometimes i lease my own property's out so need a lawyer to do up a lease. cheers
an approx rate from the big banks would have been fine.
thanks godofmoney thats what ive been looking for
tony b. theres deffinitly lots of builders folding but theres still thousands able to survive but are struggle or they have there own savings to survive, but the reason builders and other tradies out there cant drop there rates is because they still need to go and pay for all their timber etc which is still at a high price
higher than a couple of years ago so they cant cut there rate or they will be working for free after they pay for all there expenses.
but then again ive just completed a property i bought and i managed to get 2 building crews in there at $35p/h each person charge up and i payed for all materials and i managed what was going on so they were not mucking around, both company's normal price is $60p/h and both had not much work on and only done it to keep there workers going.as for 40% drops that is more in the higher end of the market but then there are a few in the lower end but are hard to find
i just picked up a property 25% lower than a offer the owner had a year ago and turned down because they were to greedy and then became desperate to sell because there circumstances changed, that property was showing 12% return net but the tennant has just left which worked out good for me cause now i can reno it.
iam half way threw reno and had my mate put a valueation on it and it is showing nearly 40% more than it owes me so there are deffinitly deals out thereas for that property at $480k sold for $280k it sounds like the same property i was offered at a auction before christmas it was a 4 bed and it was offered to me for $300k by a guy standing on the sideline i think he was probaly an agent, i only seen pictures of this property but i would have thought it was worth around $400k
woodynads.
let us no what you find out with breaking the loan and not having to pay exit feehi you would struggle to get 100% finance unless you already own a property with equity. the 21k is only eligible if you buy a new house or its 14k for a second hand house. yes you could use your fhog to pay of your car as the goverment can put it in your account from what ive read on pi
here to learn. thats alot of money to waste at a seminar. your better of putting that $10k into a property. or pick up the phone book and go and see 3 lawyers 3 accountants 3 brokers etc which will probally cost you $1,500 and you will learn more from these people than you would at a seminar
but thats only my thoughts and i havnt red what others have postedyou should go see your bank/broker and see how much it will cost to break your 8.95% loan and take out a new loan around 5% or 6% then both those units will be cashflow positive
we are in a reccesion and things are deffinitly slow for lots of businesses and i think if you buy property over the next 2 years you should make sure you can afford to pay the payments good or bad. theres lots of people out there at the moment that can't get finance which does not make it easy to sell a house, so there will be more coming on the market and prices will drop.
i think it comes down to your personal situation whether its a good time to buy or notShit a 10 year ressesion i think you should all be worried and sell your properties now. And then ile come along and buy them up.
Why would you need to worry about what others think or predict.
