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  • Profile photo of ksherwellksherwell
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    @ksherwell
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    July 21, 2011 - 12:56 am

    Why not use your equity?

    Profile photo of ksherwellksherwell
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    July 12, 2011 - 2:13 am

    To work out good areas to invest in, I use the newspapers to see what new infrastructure is going in.
    It's one of the principles how i base my decisions

    Profile photo of ksherwellksherwell
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    July 12, 2011 - 2:11 am

    real estate agents do have a black book to warn other companies of bad tenants.
    It is very wise to get landlord insurance and ensure it covers everything.

    You never know what a person is like until they move in.

    Profile photo of ksherwellksherwell
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    July 12, 2011 - 2:07 am

    I agree with your accountant, look for  a new home. More deductions and you get the full 1st home buyer grant. Plus if it's off the plan, less stamp duty as well.

    Profile photo of ksherwellksherwell
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    July 11, 2011 - 7:16 am

    From an agents POV, you 1st placed an offer of $260k, then after a while dropped to $250K. It comes across like you are playing games, and no agent likes this.
    Saying that the agent still should have called you, to say you can have it at $260k.
    Was your offer in writing?

    I have heard of experiences from other agencies where this has happened and the owner sued the agent for the extra amount.
    Better hope these couples don't find out.

    It all comes to the agent and understanding their vendor

    Profile photo of ksherwellksherwell
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    July 11, 2011 - 7:11 am

    Listening to my friends, I hear the NZ is deader then dead. It may be a good time to enter, or even wait just a few more months for values to drop and pick up desperate sellers.

    Profile photo of ksherwellksherwell
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    July 11, 2011 - 7:09 am

    regarding commission structure, it depends on the agency.

    You can treat it like your own business and pay for everything and get 80% com.

    Then there's others that give you retainer and 34% to 45%.

    FYI depending on staff, the average office costs $25k per month to run.

    Profile photo of ksherwellksherwell
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    July 11, 2011 - 7:07 am

    Hey Tim,
    It really depends on the agent. You will find 10% of agents make 90% of the income, as each owner wants to sell their home with the best agent.
    I was a top 10 agent for my franchisor and to get number 1 position, the agent had to earn $800k plus. Saying  that there were agents in my office who didn't get off their backside who only got $40k or less. They didn't last that long.

    Are you looking to become an agent?

    Profile photo of ksherwellksherwell
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    July 11, 2011 - 7:02 am

    I recommend trust, it has better tax advantages and ability to distribute funds freely.
    For lending you may want to look out the portfolio packages.

    Profile photo of ksherwellksherwell
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    July 8, 2011 - 3:13 am

    I had the same question asked a year ago, by a family member.

    I'm looking forward to the answer as well

    Profile photo of ksherwellksherwell
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    July 7, 2011 - 3:16 am

    Hey guys I'm in Point Cook and some agents out here haven't had a buyer inspection in 2 weeks.

    2 weeks, I can't believe this.

    Profile photo of ksherwellksherwell
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    July 4, 2011 - 11:44 pm

    Very hard, as you are aware you need to live in the PPOR within six months of settlement.

    You could have a long settlement of 6 months and move in at the end of the lease.

    Its the purchase date which is important.

    Profile photo of ksherwellksherwell
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    July 4, 2011 - 4:58 am

    Hi Angel,

    I'm interested to know as well.

    Profile photo of ksherwellksherwell
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    July 3, 2011 - 7:47 am

    Good story

    Profile photo of ksherwellksherwell
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    July 3, 2011 - 7:35 am

    My friends are all stocking up on silver as investments.

    Profile photo of ksherwellksherwell
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    July 3, 2011 - 7:33 am

    Depends on your financial situation and ability to hold. But by the above it looks to be positive geared.

    I’m always one to buy and hold and use available equity

    Profile photo of ksherwellksherwell
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    July 3, 2011 - 7:30 am

    Depends how hot the market is, and how many people search the term no agents or sell my own property.
    It also depends how good are you at negotiating. If your good, then go ahead.

    Profile photo of ksherwellksherwell
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    June 30, 2011 - 12:15 am

    I agree, you will have trouble with the banks, but there are ways around this. I have referred borrowers who purchased a similar home near Monash Uni.

    Profile photo of ksherwellksherwell
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    June 29, 2011 - 2:30 am
    mrproperty wrote:
    Hi all ,
    I have just purchased an investment property and would like to management it myself rather than use an agent.
    I have a month until settlement and I was wondering if anyone could tell me the best way to market the property , are you allowed to list it on realestate.com.au , are their specific sites for this?
    any advice would be much appreciated.

    You could use flatmatefinders.com.au and rent the home out, room by room. It would give you more rent.

    Profile photo of ksherwellksherwell
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    June 28, 2011 - 5:17 am
    ChristinaM wrote:
    ksherwell wrote:

    Solution: its better to have the money in the bank, especially in a tough market when days on sale are exceeding 45days.  Sell the property 1st, get a long (90day+) settlement and ensure you have a unconditional contract before purchasing.

    Thanks for the reply..
    A question..why a long settlement?

    I have started looking to buy for 3 months but haven't got anything. (I was so close to getting one, but was outbidden..)
    My other concern is if my current house settles later than the house I am buying, then we'll have a huge mortgage insurance.And my current bank only released equity to 80% LVR, which doesn't help much.

    Christine, with enough notice, you should be able to match the settlements on the same day. The exception comes if the person your buying off is doing the same. 
    I once had 2 properties settle which had another 3 parties (3 sales) involved. The 6 separate solicitors had to arrange the settlements in order. A few hairs was lost but all got done.

    Again in a down market its best to sell your home first. If we were in a boom I would suggest the opposite

    Hope this helps

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