Hi Jaffa
I think youd better start up a new thread on “funny agents stories”
See how many you get…

Heres one from last week.
Met an agent, hes new in town, looked at a couple of properties, both overpriced. He did the trial close… “so waddya think, you interested in either of them?”
I told them they didn’t stack up as for me an investor…the…[Read more]

The yield probably has more relevance with regard to Commercial property.

In this instance the tenant pays all the outgoings so the yield has a relevance to the asking price or the value of the property.

Usually the rent is capped up by the yield to determine the value of the property.

Example: with an annual rent of $100,000 and a yield of 8%…[Read more]

You need to apply for a Credit Providers Licence to do vendor finance in WA.
Check out DOCEP website, all instructions and forms are avail online.

KP

Arb,
Get the book…read the book…..
Its a good read regardless of whether there are less +CF properties around.
There is more to the book than simply suggesting you have to buy +CF properties.
Its a good investment for under $20

KP

Hi Aus,
Hi Lisa,
Well if the price of yours is a good comparison for this one…then its not too far off..
Asking $440k
Settlement $21k
Subdiv $20k
Strata land cost $240k each
Build $150k each
Misc $20k each
Total per dwelling $410k plus holding costs.

Doesn’t work to develop and resell based on your comparative price of…[Read more]

Hi Lisa,
What would the front strata sell for after subdivision, and the same for the new dwelling on the rear strata ?
You’ve done such a development in the area so you would be in the prime position to work out if the end result justifies the effort…
In my opinion in the current market, a lot of this unrealised gain (post subdivision profit)…[Read more]

Wez,
For every one person that does attend a seminar, hundreds don’t.
Its simply a matter of people exercising their freedom of choice to attend or not.

You could spend the evening at the pub and listen to the the same amount of opinionated dribble voiced as being the truth or fact, and it will cost you 100 bucks by the end of the night. Do you…[Read more]

Aus,
You haven’t got time to be posting on the forum
GET BACK TO WORK !!

KP

Had a jv partner who was using his family trust as his investment vehicle.
His income was apportioned ( by his employer) so that some was going to the trust on a monthly basis.
ANZ local branch were happy with this, on the basis that the income to the trust was regular and proven.
Surely you could show bank statements confirming the trust…[Read more]

Also check that there are no easements or restrictive covenants on the block. This should show up on the search of the title deed, and the agent selling should have a copy on file.
Otherwise you can order a copy from the titles office.
Depending on where you are, you may need to confirm the soil conditions (may need a soil certificate)
Where we…[Read more]

No GST payable on established residential property..
Only time it applies is for newly constructed residential, and then it is only due for the first sale of that property. ( ie build and keep and no GST is due)
In this case the vendor is liablefor the GST
Purchaser does not pay GST for residential prop.

The advise you may have been given applies…[Read more]

Fair suck of the sav Monopoly.

My IP’s are 15.5 hours drive from where I am.

6 hrs is a walk in the park compared…

And forget about the choice munchies and a cut lunch…more like Red Bull drinks and uppers from the truckstop…

KP

Hi Michael,
Can you elaborate on what you are alluding to ?
(the intimate knowledge on what both parties are currently or have been involved in)

I notice they all seem to have ended up in Arizona as neighbours ( Burley, Kyosaki, De roos)
coincidence or not ??

I have always thought that these guys seem to promote “7 levels of investors” or “7…[Read more]

Hey you have to look at it in terms of the current market and the vendors position….ie is he motivated to sell ( what is the real reason for selling ), and is it a buyers market where you are looking.
It may be enough for the vendor to know that the property is sold ( certainty )even if he has to wait some time to gett 100% of the sale price.

I…[Read more]

Hi PCB,
Agree that vendor financing is a method which will allow more poeple both aboriginal and non aboriginal to own their own home.

I have to ask, how does this relate to the ISX that you are promoting ?
It seems that they are two seperate topics.

Email or PM me if you like, as I am in regional WA and am interested in what you are…[Read more]

Terry has got a good point.
On the face of it you should not have to pay CGT if you transfer the property into a trustwhile it is your PPOR, but you will pay stamp duty.
If you intend to keep the original(current PPOR) home and rent it out, then it would be wise to pay some money now ( cost of good advice on the use and setup of a trust, setting…[Read more]

Hi Fablan, can you expand on who does fully disclosed finance for wraps ?
Do you mean homeside?

Agree with earlier sentiments. But query the broker as well. If as you say, you were intending to tap the equity and the broker was aware of this, then it sounds like he has put you into the wrong product.

I have used homeside (last year). We got a no…[Read more]

Surely once you wrap it, it becomes trading stock?
And hence you pay tax on the installments as if it was income (cashflow)

KP

Hi Marisa,
There is a group called the Landlords Advisory Service based in Applecross. They have a website and from what I read look to be very good.
I believe you would have access the the database of blacklisted tenants, etc,and also, you can perform credit checks , etc.
Worth getting in touch with them…

KP

Geeze jars,
Full sympathy regarding your situation.
And these guys advertise themselves as specialists in the area of student rental.
Last write up was in the local Sunday Times last sunday 15 Aug.promoting their services and expertise in the local area.

We had some overseas students in a rental built last year.
They lasted all of 3 weeks. Seems…[Read more]