Forum Replies Created
Sounds like a real mess…sack the property manager immediately…they have been negligent
Also a small local agency in Tamworth – Kelly Real Estate in Peel Street – John McHugh is the agent principal and is very well respected locally
My team – Accountant, Solicitor are doing the final detail but looks good;. Will be looking at putting a deal together if the final $$ reflect the work we have already done
I bought a 2b/rm unit in Annerley with double garage, 2 bathrooms for 330k in Sept 07. Identical unit sold at 1st open house on week end for 350k….since July 4 units have sold in the block and have all have sold at the first open house. Prices have risen from 305k in July to 350k first week in November. From what I can see at least the unit market close to the CBD is going along nicley and I can't see it slowing in the near future.
CheersKelHi Ken
Strata levies usually take 2 forms. An administration levy that is used by the body corporate for the adminsitration of the strata and includes things like minor repairs to common property, building/public liability insurance, management expenses, garden maintenance, common property electricity and water. The 2nd levy is called the Sinking Fund and is used as a means of putting funds away to undertake major maintenance, upgrade of the building. Each levy is payable by each unit owner quarterly and the amount is usually set by the Body Corporate at its AGM.If you are purchasing a town house that is on either a strata title or community title you will be subject to Strata Levy both administration and sinking fund ) each quarter.I hope this assistsCheersKelYou need to bring the pet issue to the attention of the PM. I am with you. I donot allow pets of any disciption in my Ip's. If there is a pet and the Pm was aware of it they are not acting in your interest and I would suggest you find another Pm who will comply with your requirements.
If there is a pet in the property without permission…even visiting……you need to advise the tenant that pets are not permitted and the pet needs to be relocated .RegardsKelHi,
I am in NSW and have just settled on a property in Brisbane using a Brisbane based Solicitor. Every thing went smoothly. If any one wants details of the Solicitor in Brisbane I can highly recommend him and his attention to detail given I was interstate and not fully familiar with the differing requirements between States.CheersKelI know many investors that manage their own properties but I would advise against it. The Agent builds a buffer between you and the tenant which is especially beneficial if things go "pear shaped". You need to be in a position to make sound business decisions and having a close 1:1 relationship with tenant can hinder the process.
Just something to considerCheersI have just bought a 2 bedroom unit, exchanged contracts today for settlement on 13th December, I will be looking to buy at least 1 x more this financial year
Kelvin J Brennan
I’m not nervous at all. Actually purchased a property yesterday after the media hype. its all about your own due diligence and the time you put ensure ing the property “stacks up”. i am still in the market for at least one more maybe 2 more before Christmas. I am in Coffs Harbour NSW and i always invest locally.
Kelvin J Brennan
My tenants pay for the water. Its metered separately.
Kelvin J Brennan
Hi,
I use landlord insurance. When you compare policies between landlord and normal building/contents insurance you can see the value.
I wouldn’t be with out my landlord policies
Kelvin J Brennan
I wouldn’t even consider going into the Cafe as it will take at least 6 months to establish the business enough to realise any income irrespective of how you arrange your finances.
Before you go into further debt you need to find a good reliable account and learn some financial mangement skills. You will be heading for disaster if you borrow more money without acquiring the necessary skills to properly manage your debts
Kelvin J Brennan
Hi Richard
Many thanks for the information. The units are in the Park Beach area of Coffs Harbour approximately 800 metres from the beach.
Cheers
Kelvin J Brennan
Thanks for the reply,
My main purpose is realise a financial gain, not to satisfy the bank.
Cheers
Kelvin J Brennan
My PM charges $5.00 per month + GST for providing the statement. I also believe it to be an unsubstantiated chargethat is levied without any justification.
It is all these small amount levy/charges that eat into investment returns.
My PM used to charge inspection fees for routine inspections but i have negotiated to have those costs removed as i believed that should be part of the management fee. I have to date been unsuccessful with removing the statement charge.
Kelvin J Brennan
If this property is for investment it should be a business decision not an emotional decision. I feel you are letting emotion override good business sense.
I would suggest you withdraw the offer and move on. If I am not mistaken you have already signed a contract at a higher price than your initial offer and it would appear that the vendor is trying to play one potential buyer off against the other.
Cheers…Hope everything works out for you[aacool]
Kelvin J Brennan
I am glad you brought up the subject as I was under the same impression. With the recent changes to NSW legislation I am unsurre what I have to do in relation to land tax. Where do we get info???…can anyone help???
Kelvin J Brennan
I have always been of the opinion if you have furnished IP’s the furniture must look stylish, modern and in excellent condition.
i have always gone for Fantastic Furniture packages and more recently Freedom Furniture in a holiday letting property. I have found the quality to be fine, at a reasonable price and looks great!!
Kelvin J Brennan
I am sure it is a goer. Have organised inspection for weekend…
Kelvin J Brennan
