quote:
WARNING

Phil Jones and his mob are becoming notorious in NZ.

As Bill says, “They will eat you alive.” They are the Kiwi version of Henry Kaye.

Many of their “great deals” are “horror deals”. They are barely out of nappies. Mark my words – they are going to fall down and take lots of people with them.

This is all I am going to say about…

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quote:
Hi again folks,

Just a quick post… Does anyone know of a good property solicitor in the western suburbs of Melbourne? I’m in Altona so any recommendations for over my way or towards Melbourne would be fantastic.

Thanks
J [:X]

Minxii
I know the best property lawyer in Melbourne – mine[]

He is based in Port Melbourne and not cheap,…[Read more]

quote:
This would mean that we should distrust stats derived from auctions (eg average prices and clearance rates) as they may give a misleading impression being skewed towards the more expensive properties?

This is apart from the issue of properties passed in at ‘vendor bid’ prices.

I would suspect that auction results would be even less…

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quote:
hi mcollins

If you have someone already i wouldnt get an agent. I property manage my own property and started with no experience. agents just cost money and dont do anything for it. As for knowledge they are not that knowledge at all.

It’s interesting that many beginning investors think they know how to manage properties yet you will not…[Read more]

quote:
In Melbourne it looks like the wealthier and pricier the suburb and property, the more likely you see auctions. Toorak, almost all, Dandenong, almost none, (No insult to Dandenongians intended).

You are right. Auctions work better for unique properties and those that may be hard to put a definate sale price on.

If there are 3 other…[Read more]

quote:
Hi Michael

Great article on Auctions in your newsletter.

Would recommend that everyone subsribe to your newsletter.

Regards

Thanks Muppett for the great wrap. A lot of effort goes into it and we get a few hundred new subscribers a month which is great but the more the merrier

Michael Yardney
Metropole Properties
http://www.metropole.com.au

quote:
Anyone had any experience with this software that would like to offer there thoughts…

I use both REAP and Jan Somers PIA Pro

They do similar thingsa nd give very simlar output, and are useful for comparing one potential investment property against another using Internal rate of return.

In other words it will help you compare a cash…[Read more]

The rules for conducting auctions have changed considerably over the last few months. I think this was discussed by Steve McKnight in his last newsletter.
What this means is the techniques for buying at auction that worked well in the past may no longer be appropriate.
I discuss how to make the most of auctions in our monthly newsletter this…[Read more]

quote:
can someone help me, how do i get rid of my agent?
Write them a letter? How should i say it in the letter?

I still want to keep the tenants as they are very good tenants. SHould i write a letter to the tenants first so they are not shocked, or in case the manager goes to them and tell stories?

please help.

***********************

You…[Read more]

Like Pisces133 I know of a number of “graduates” of HK’s expensive weekend course who have bought off the plan and have recently settled on properties and had very significant capital losses.

Further he gets them to sign a FIVE YEAR property management agreement with his company. He then onsells the agreement to another estate agency again…[Read more]

quote:
HI THERE I AM THINKING OF BUYING A FEW IPS
AND I WANT TO MANAGE THEM MYSELF IS IT REALLY THAT HARD?
WHAT DO YOU DO WITH THINGS LIKE CONTRACTS
ANY HELP PEOPLE COULD GIVE ME WOULD BE GREAT

CHEERS

The fact that you are asking these questions would suggest that you still have a lot to learn about property investment and it would be false…[Read more]

Thanks for the offer Bill
I look forward to your email
myardney@metropole.com.au

Michael Yardney
Metropole Properties
http://www.metropole.com.au

quote:
Hi,

Are rental management fees fairly standard or are there cases of being charged higher rates if the agent knows that you live far away or interstate and will need to rely on their services a lot more[?]

also is rental management worthwhile overall[?]

chris

Property managers fees vary from state to state and also within the state.…[Read more]

quote:
Thanks very much for your opinion Polar Bear, seems to be heading that way with the vacancy rate now around 4%, and more multi-unit deveopments nearing completion.

mender

Hi mender
The vacancy rate for inner city and near city properties is MUCH higer than 4% which is the Melbourne average.
Our associated company Metropole Property…[Read more]

quote:
huey,
I am only paying house insurance and landlords insurance, which includes rent cover etc for 306 a year. try this web page.
http://www.rentcover.com.au/
you can call them if you like, i found them very reasonable.
cheers
shaun

We recommend building insurance incuding contents public liability and loss of rent. many investrs forget the…[Read more]

quote:
[] wow []

i cant believe that after 46 views no one has had any idea?!?!

oh well

[] Powmow []

I have been away for a week so couldn’t reply.

The rules ofr each state are different but in Victoria the new legislation has not become law yet.

Even so most agents are behaving. IN Victoria there is no restriction on the number of bids…[Read more]

quote:
I think that realestate.com.au is only available to advertise by PMs and agents. Correct me if I am wrong![]

The minimum subscription to realestate.com.au is 12 months and the monthly subscription fee is high and not relate dto how many properties you advertise, so its not really for private landlords

Michael Yardney
Metropole…[Read more]

quote:
Hi Damien,
Anyway 007, I pretty much have to agree with Damien here, builders still make the fees up in their margins, design / drafting work & council applications cost money, and builders need to cover their costs. It’s just that including these items in a contract is not as ‘in your face’ as a $12,000 upfront fee.

Cheers
Kym

I must…[Read more]

quote:
Hi Michael,

Firstly, I would never waste my time collecting rent, i do believe this is bad use of time for most… but for some it may not.

I do not disagree with your comments and i am sure metropole offer a great service, seems like a great company… My point is that PM’s do need to be paid as much especially when most of the time,…

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quote:
Hi Steve

I think we got a certificate, but so what? I don’t believe that you need any qualifications to be a PM – and in fact there are lots of agencies who are not members of the REI, and so therefore would not send their people to the REI courses. It’s a fairly high turnover industry from what I’ve seen

Cheers
Mel

Mel

In fact you…[Read more]