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Viewing 7 posts - 1 through 7 (of 7 total)
  • Profile photo of Mike_3Mike_3
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    @mike_3
    Join Date: 2003
    Post Count: 7
    March 10, 2003 - 7:24 am

    Thankyou

    Two different viewpoints.

    Yes we take out insurance to guard against the unforseen. Due diligence does so much but things happen in peoples lives which affects their ability to pay rent. Then again, we pay agents to keep on top of things too.

    Thanks for your replies.

    Mark [8D]

    Profile photo of Mike_3Mike_3
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    @mike_3
    Join Date: 2003
    Post Count: 7
    February 27, 2003 - 7:04 am

    OK here is my experience of a ‘bad tenant’

    Couple in theire early 30’s no chilren, he is a diesel mechanic on good casual money, she works in a local store.They previously owned a business that went belly up, neither have business quals or other, they own few posetions.

    He gets injured at work and is on compo for an extended period of time. She gets pregnant (trying for a long time?) He tries to sue his employer, mean time living on Gov assistance he develops the atitude that he deserves a pay out. Rent falls in arears, they have no strategy to recoup lost rent. I evict them. I take them to court, judge orders them to pay $50.00/m they do this twice and skip, which I am sure they have been doing all their lives.

    I was burned over $600 and now screen more carefully.

    Mike.

    Profile photo of Mike_3Mike_3
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    @mike_3
    Join Date: 2003
    Post Count: 7
    February 25, 2003 - 2:38 am

    Hey watto

    Great web site, I will use this without a doubt.

    Thanks

    Mike

    Profile photo of Mike_3Mike_3
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    @mike_3
    Join Date: 2003
    Post Count: 7
    February 25, 2003 - 2:22 am

    Angie

    Lateral thinking is really a logical way out of a sticky situation. There is more than one way to skin a cat!. Be imaginative and calculate your outgoings to off set loss by using a rent increase. It is a sunk cost, but picked up in the long run by the tennant…. who in the end is a happy customer. Great thinking

    Mark

    Profile photo of Mike_3Mike_3
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    @mike_3
    Join Date: 2003
    Post Count: 7
    February 25, 2003 - 2:14 am

    Thankyou,

    Because I dont live in Perth, I would like to leave my property with a manager on good recomendation. Please advise details so I can contact them to discuss management fees etc. It can be dificult identifying the right people when you dont live in the area and cannot check up on things.

    Cheers Mike.

    Profile photo of Mike_3Mike_3
    Member
    @mike_3
    Join Date: 2003
    Post Count: 7
    February 24, 2003 - 2:25 am

    I invest in Perth and would like to be in touch with a group of people doing the same thing. Keep me posted if you want to get together.

    Profile photo of Mike_3Mike_3
    Member
    @mike_3
    Join Date: 2003
    Post Count: 7
    February 24, 2003 - 2:17 am

    quote:

    Hi Brett, in relation to your recent post:
    Perhaps even be looking to play a part in bringing together Perth members of the site in some productive way for us to establish ourselves in the WA market

    I am open to ideas. I am sometimes frustrated at the fact that I find so many good deals but dont have the capacity to close them all. So I was thinking of pooling resources/ ideas with others, JV’s, property syndicates, or even just exchange of ideas and deals and research over a beer or 2.

    I am 25 and have 3 positive geared investment properties. I consider myself still an amateur though. Want to learn heaps more.
    My last deal was buying in Bassendean 3×1 rennovated new style villa for $88,000 rented out at $145 per week. Other property in Rockingham but harder to find good stuff here now.

    Please let me know if you or anyone else is interested.
    cheers
    Dan
    [email protected]

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