Forum Replies Created
good deals yea, but seriously some areas look like a bomb has been droped there.gonna need more than the reno kings to fix it up
cheers yadreaminHi all
about the landlords insurance.once your tennant goes onto a periodic lease, by the way must be written in the contract, the land lords insurance changes.you are no longer covered by loss of rent.ie if they skip the place and you loose 4 weeks rent the insurance will not cover it.check your own policy for other changes in the damage clause once periodic rent comes into play
cheers lynnemTh same question was posted a month or so ago and there were several responses.look into old posts.Oh and don,t get your hopes not a lot of answers are handed out on a plate, but some handy info for those starting out or just looking out.
may save you a coulpe of country trips.
cheers lynnemhi jarvis
what is the cost of this seminar.with and without the discount?
cheers lynnemhi cheryl
just one more tip when you go on your search especially in regional or rural areas.
GO TO THE LOCAL PUB.good place to get lunch and believe me there will be someone in there that will give you all the local info.they will probably know who is and who wants to sell and why.
cheers lynnemhi casey
what state are you in?
as l am about to do this myself
cheers lynnemhey western
l bet someone from this forum bought your property as stawell has been getting a good mention in the last 2 months. good onya
cheers lynnemhi forumites
try DEPRO. l have used them and they were thorough.think they do the northwest. read it on a post here couple of months ago
cheers lynnemHi agent oo7
l think it,s very important that your accountant has good knowledge and even own an investment prop.l have just changed accountants my old one could not see past superanuation [he sells this as well]he was so negative to our ip,s.within 10 mins of new accountant looking over our books he found $2000 of unclaimed deductions we should have had.already the move has become a good investment.new accountant has his own ip,s.l believe he will know of every cent to claim and be able to offer sound advise not biased to super.It has taken 10 mths to find this chap, ask questions and go on other ip investor advice about GOOD ACCOUNTANTS.
cheers lynnemHi Banner
it,s worth looking at the reno kings web site.one of them has made a lot of money buying on freeways highways railways and always undervalued because of their location to the “ways” like he says “ways” are often a good thing especially if the area has good growth.position does not always mean ocean, river,views.most inner city props are on very busy roads but look what they sell for.do the reno to suit the type of person is is most likely to live in that area.ie. yuppy, s.n.a.g. ,couple with 2 kids.good luck to you banner. cheers lynnemHi all
thanks for the replies.thinking of hitting the road permanatley buying props doing quick reno,s selling and moving on.if l do l shall get myself a good laptop and keep login onto this site maybe even too pass on good oportunities to others.
cheers lynnem
THERE IS ONLY ONE STUPID QUESTION AND THATS THE ONE YOU DON,T ASK.Hi suzieq
hope the crops are good out your way.L use
Aon Insurance Services 94294444.
I have 2 i/props one in QLD one in WA.
Have not found another company to beat Aon,s premium.actually had a couple of other companys admit that they can,t compete with Aon.Have not had to make a claim as yet,thankfully, but all my queries are met with friendly prompt advice from Aon.actually know of another investment group with over 2000 members and 90% of that group are insured with Aon.
here,s cheers lynneml think he may have fallen into the trap that so many get rich quick schemes sell[and we have all read them]use other peoples money!!!l pesonally l think this is a wake up call for all.there is so many lenders out there and property is the flavour of the month that even the lenders are not doing their due diligence. the responsibility lies with ones self in the end.sadley the lenders will not loose as they will cover their buts.there will just be one very busted family left in the end.BUYER BEWARE? BORROWER BEWARE!!!! KNOWLEDGE IS POWER.don.t ever think someone else is better qualified to handle your future THAN YOU ARE. cheers lynnem
Large towns in wa are few and far between.l mean those over 5ooo or more.look seriously at the wheatbelt area.they are small towns but the ones that are a reasonable distance to perth can offer good returns.residents in the town have good access to perth via bus/train.they are very low income earners mainly pension/govt payments.they do enjoy the quiet of the country as well.l know of a gentleman 6 years ago purchased 30 props in these small towns most in the price range of 10/15000. all small wheatbelt towns within in the 2 hours of perth.great rent return he now lives very comfortably in a prime beach position in cottesloe and hasn.t worked a day in years he is actually quite boring these days as all he has got to worry about is the bl…y fishing look beyound the square that others put before you.cheers lynnem
hi richmond
you say you have just settled on 4 props this week.you must have plenty of spare cash to do this?please explain how you do do this.l am envious.
cheers lynnemyes at settlement a new lease was drawn up and it was written that the lease would not be renewed as of august.the tennant accepted this and signed the new lease.not helping much now though.he has contacted the gov about the situation with grant ect.they have advise him to write a detailed letter to their office and it,s possible that he may be given an extension on the occupancy date due to the age and the possible adverse affects it may have.it will be interesting to see if they give an extension and will it be based on the term of the tennants life???????the property management have now drawn documents for a court hearing.ie eviction.one good thing to see is that the property manager didn,t go running for cover as the lease has expired and they were no longer managing the property.rare one hey?
cheers lynnemYes l did tell my young friend from day one that he may end up in this situation.l don,t think it,s fair to ask an elderly person to move either. and she has been the perfect tennant.l said give back the 7 gran cause l think it will end up costing far more.l guess we will be reading about it in the papers real soon.
thanks for the comments
cheers lynnemquote:
damn those BUMPs. [
]Anyone interested?
l was once told there is only one stupid question.it,s the one you don,t ask.
so Kirby what is a BUMP?
new at this game ,please explain?THANKYOU THANKYOU THANKYOU for bringing my head back out of the clouds.you have all made some very very interesting points.it would be good to read Steve,s opinion on all of the above.One thing l did notice in the book that at no time was insurance,or rates ever calculated into the formula for a positive cashflow.They can add up to a couple of grand a year .puts a dent in a ??$40 cash flow hey.If rates did start to move up again [which they will] all those people who have bought negative geared properties will feel the pinch even more so.ah ha what will we have nothing short of a huge flood of properties hit the market as would be investers start or try to bail out.should we be all cashed up ready and waiting for the buyers market?It,s happened before and will for certain happen again.and YES after STEVE,S T.V SPOT regional markets were ready and waiting for us all.As are some of you investors who are ready to move on .ALWAYS A NEW KID ON THE BLOCK READY TO PLAY.
cheers lynnem
p.s thanks again for throwing the wet blanket
[/quote]quote:
I have a property in Karratha and one about to settle in Broome, WA.Can anyone recommend a Quantity Surveyor who services those areas?
l believe that the Qs company DEPRO have agents who service those areas.
cheers lynnem
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