I agree with Derek.

It should not be your problem, your Property Manager should never have allowed this situation to occur, the tenant should have been taken to task long ago.

Now with Xmas and many people being short of cash, it may be even harder for them to catch up.

Every agent has a different procedure but at Metropole Property Management…[Read more]

Pro Active

Of course you are correct and what you suggest is the “fairest” method.

It gives the buyer certainty and the peace of mind that you are working for them. It is also the method that is preffered by Metropole’s Buying Melbourne http://www.buyingmelbourne.com.au

Your system seems eminently reasonable with one fee no matter what purchase price.…[Read more]

Originally posted by mgs2:
Interesting article, it didn’t touch on pricing of such a service though. I would expect it to be similiar to a seller’s agent?

Buyer’s agents fees usually vary from between 2% to 3%.of the cost of the purchase of your property.

Many investors on this forum have the time and knowledge and don’t need the services of a…[Read more]

Thanks for thinking of us.

Metropole Property Mangement http://www.rentingmelbourne.com.au does cover a large part of Melbourne.

Pam tries really hard to ensure her team provides first class service and so has had to put some limits on the area that they cover. They still look after properties in most south east suburbs and inner northern and inner…[Read more]

Billy you can’t just build.
To build multiple dwellings on one site you need a town planning permit (DA in other states)

This has become a complicated and reasonably expensive process. For details check this link:-

http://www.metropoleprojects.com.au/files/PQ9BWYG8RK/development%20approval%20process.pdf

You will find other details about…[Read more]

What can go wrong?

Great question, so let me give you a list

Firstly may I say I know where you are coming from. With little upside in the general property markets for the foreseeable future, I see many investors looking at property development as a possible way of increasing their profits.

Property development has recently been made popular by…[Read more]

Originally posted by mgs2:
I was recently reading a book called Secrets of Property Millionaires Exposed, and there is one section on Patrick Bright, some of you may have read his books. Anyway I didn’t know much specifically on Bright but apparently he runs a buyer’s agents company, which I certainly didn’t know existed. He doesn’t go into much…[Read more]

Significant portfolio of commercial, industrial and residential properties.

LVR of 60%

Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
Join over 10,000 readers each month.
FREE subscription http://www.propertyupdate.com.au

I agree with the others that Rolf is good, but remember that you don’t have to be Brisbane based, many brokers are able to help you across state boundaries.

Why don’t you give our own Simon Macks a call – simon@mortgagehunter.com.au

Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
Join over 10,000 readers…[Read more]

Originally posted by Dr.X:
Thanks for this info Michael, it’s very helpful!

what I would like to know is that if you pay the $5000 or so to become a founding member of PIAA and also the $2500 to do their accreditation program, would you then become a qualified property advisor and get ASIC off your back!

Seems to me that experience in the real…[Read more]

Originally posted by fernfurn:
Michael, I realise the counter-cyclical buy theory but would like your advice on selling in a down market. I am wanting to sell a new townhouse in a really good suburb in Mar but could hold onto it for another year at a pinch. Do you believe the market in Melb will drop further, or hold steady and patchy for a few…[Read more]

GSJ
You are correct that a short course alone is insufficient to “qualify” anyone to give investment advice.

I don’t think that was the intention.

It is one small step in regulating the industry. Others such as ongoing education, compliance and monitoring will be required.

There will always be people who will get around the regulations.

I am…[Read more]

Originally posted by toe:
Michael I’m afraid I don’t agree that statistics lie. They can either be massaged by statisticians, or the people interpreting them can missunderstand the bounds of their use.

……..

Craig Sillitoe

Craig

I agree with much of what you say. At Metropole we have a researcher looking at and interpreting data all…[Read more]

If you are looking for capital growth, then there are probably better locations for you to investigate.

Growth will be limited becuase of the old supply/demand equation, including:

1. The availability of new estates in the vicinity.

2. The demographics – basically young first home owners. This group is limited in its borrowing capacity and in…[Read more]

Originally posted by mt87:
wow, thanks a lot for your responses guys.
MichaelYardney: do you mean then to purchase in areas that have already experienced growth, or purchase in areas that are yet to grow? (i understand it to mean the former). is there any chance i could look at the list that has the best suburb growth over the last 10 years?

If…[Read more]

Thank you Steve for providing the forum and for undertaking the update.

I think it looks pretty slick. Much clearer and easy to use.

Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
Join over 10,000 readers each month.
FREE subscription http://www.propertyupdate.com.au

Originally posted by toe:
MichaelYardney i like your general premise that some suburbs are doing well in a down market. my question would be whats the best way to determine which suburbs will do well from now, should we assume that the ones that are up 20% will continue at a similr rate?

how else would one chose the right area in a choppy market?…[Read more]

While the general Melbourne market is flat there are some suburbs that are performing strongly.

I have the latest REIV figures in front of me- some suburbs have grown over 20% in the last 12 months.

So choose the right property in the correct area and buy below market price.

It would be great if you add value through renovation but why would…[Read more]

Welcome to the forum gurkan.

Unfortunately builders have a bad reputation and so finding one on recommendation is a good idea, but that is really right at the end of the development stage.

To buy a potential development site requires lots of work before you go to a builder. In general builders won’t be able to assist you with the town planning…[Read more]

It is normal for an agent to charge a lease renewal fee. After all they are doing work and documenting things for you..

Having said that how much should they charge and what is fair?

I know we ( http://www.rentingmelbourne.com.au )charge $100 as a fixed fee. I know other agents charge more and some less.

It is of course in your interest to have the…[Read more]