Forum Replies Created
I don`t have any bond yet but rent is being paid tommorrow.
There has been no rental agreement written up as yet with the agent as far as I know.
The property is around 4 hours drive from my place and I will be going tommorrow to try and get things sorted out.
Could happen to anyone I guess, I mean you can hardly turn someone away on account they are in a wheelchair, wouldn`t that be seen as descriminatory?, and I can hardly kick them out they are battlers in the extreme.
I would really prefer to let them stay in the house until they are in a better position but how can I do this without exposing myself to potential problems?.Casuarina is a boom area and I would not be surprised how far it went.
If you have a beachfront house or land there congrats, I have had a very high success rate at picking CG areas over the years and imo given a couple years you could be surprised what it`s worth, I would say there is a very high chance you are sitting on a goldmine.
I say this knowing full well many investors are going to get burned over the next couple years, people are property nuts at present, it`s incredible how much easier it is to lose money when the cycle slows or recedes.
All investors should make sure they are in a very strong position at all times!.Yes the house for $85,000 is in the CBD, but on non urban land, in an area which is being developed in the extreme, 75 mt walk to large shopping mall and coles and kmart, I may be able to change the zoning. A block of land three doors away same size but zoned CBD A sold for $200,000, just the land, I`m very excited about this one!.
I have bought too many to list but all made money, pretty good to excellent money, I am not rich by any means.
Latest three deals land five months ago $150,000 value $ 220,000.
House $85,000 1 month ago in CBD rents for $135.
House close cbd different city $65,000 rents for $130. Not sure of current values but owned these only weeks, bargain buys, there`s more where they come from.
Bought house Riverhills bris 14 months ago for $130,000 sold four months ago for $239,000.
Bought a house in Kingston also 8 months ago for $75,000 sold 5 months later cheap reno for $143,000.
My advise seldom sell, I lost a lot by quiting my job and selling properties I should have kept which have continued to apppreciate.
Still doing quite well.Make sure you check there are no additional costs relating to this commercial property for you as compared with residential property, as I understand it there can be operating costs or body corp costs with commercial property, this can kill the deal.
I would also say don`t do it.
There are numerous things which could completely turn you off the property.
Many may succeed but one at the wrong time could be a big problem.Hi everyone, another aspect I`m not sure has been mentioned, if you have equity in a home, you could sell the home, and rent, cash goes much further than equity.
If you had $100,000 cash for instance from a sale you could go out and easily buy 8 to 10 properties tommorrow which are cash flow positive in some regional areas. Using equity would not get you nearly as many.Queensland is the only way to go imo.
There are places with literally hundreds of cash flow positive properties, if you look, incredible bargains.I bought a house in Kingston about 8 months ago for $75,000, and sold it three months ago for $ 143,000 but since found out it is nearer $200,000 now, so the market has moved a lot but position is a big factor with these areas right between coast and bris.
Hard to know whether now is still a good time to buy and I have never liked the prospects of units etc too much.
The area is a little rough, but generally the people are more freindly and down to earth than the upper class type areas.
