Forum Replies Created
l’ve had two this year alone so far . l’m not a big shot, just starting out really over this past few years so l need any leverage l can get but.
Ones been taken off the market now , l really wanna talk to the owner of that one . l sat back on it in the end because it was way over priced . l’m not sure where the legals stand on that though. l spose if it’s off the market now it’s the owners business isn’t it.
The second one has only been on market two mths.
l’m sure it’ll be a way slow seller so l’m hoping the owner might be open if his realistic. One up the roads been up two years so the deal l want to put to him would be over in twelve mths, gotta look good to him surely.
CheersThanks Bam.
Hey l’m wondering . So what do you find is the attitude of the solicitor when they get it , and then the vendor ?Bam.
PS , l have approached a few owners in the past . Found some are fine or even don’t really like the real estate path anyway , others have given me the look and sent me packing , back to the agent.
bam bam wrote:i also forgot to mention that there is a price for everything.i would not go behind the agents back unless i'm almost certain that he won't pass on my offer because of the obvious bad will it creates… you'd want to hope u won't be dealing with him again anytime soon.
Yeah see this is my point Tammy. You do get attitude from some agents . l don’t know where it comes from or whether they’re worried about getting their fee or what. Sorry once again to any agents , you can’t be responsible for others though so don’t worry about it.
But even in allot of the corses , they advise to find agents that will work with you with investing offers, no money down offers and all the rest because hardly any will or haven’t heard of it but then suddenly one says oh yeah bla bla.
l really like the old guys , l dunno they’ve worked back in the times when vendor terms and all sorts of deals we’re common .l could say for a fact from my experience , 90% do not like anything out of the ordinary . Spose it could mean they might get pissed around if they touch stuff like that , dunno, their fee.
l just find in so many cases , if you could just talk to the vendor , there’s a good chance he may well be open or even done deals himself in the past .
And then , what about a long settle , well really so what in allot of cases because the place could still be up for sale 12 mths after your dates anyway . Least it’s a done deal with a long settle
l know there’s been two just this year for me l would kill to get hold of vendors personally.
l’ve had the R E not call me back to quite a few times to be honest , or just give you the look and you know then it won’t get thereCheers
tammy wrote:I understand where you are coming from with your question. We recently put an offer into a REA for a rural holding based on a 6 month settlement. The REA was most indignant and informed me that "what did he know…I have only run 14000 or so sales and I have never heard of this……Vendor wont like it….Too risky "etc. I ended up suggesting that it was his opinion and I would appreciate it if he would actually take the offer to the vendor. Eventually the vendor did accept our terms (in the meantime we found another property and purchased it) so short story was they did take our terms but too late. Was this because of the REA??? We will never know. I know REA are supposed to be obligated to take every offer to the vendor, but I have also had cases where after making an offer, I have not even recieved a phone call back. I guess the followup of the purchaser is dependant on how determined you are to purchase that particular real estate. Whilst I have not sent an offer to the vendors solicitor like bam bam I understand why they would do it. No offence is intended for any REAs out there, and indeed I have had many more favourable experiences than bad in dealing with REAs.All the best
TammySorry Jon .
You have higher standards than some then l guess, good to see , sorry to offend.
l have seen this question though and similar asked here and allot of other places dozens of times l’m afraid because Moose is right .
Some Agents will act like that , l’ve had them not pass offers on . Unfortunately one in paticular that would have changed my life , seriously . Then by coincidence l actually bumped into the owner somewhere a few years later . Not only did he say he would have taken the offer, but he didn’t get it. Nearly cried right there.
l was wondering if real estates were abliged as you say , to take anything and everything to the owner because l have a weird one l’m working on.
CheersThanks black tulip.
Ooooo that must have hurt .
Murhpy’s law really worries me on this one too.
Made up my mind . Once a cheque comes in l’m expecting in two wks or so – l can wait no more.
Cheers.
PS. Yep l really think if your not enjoying insanity you should atleast be pleading it !blacktulip wrote:Hi MKC,I'm only speaking from my own experience. I've been eyeing this 3 storey commercial building in the quiet end of town for my own business. I know the owner is desperate to sell so he can put the money into his super before end of financial year. From what the agent told me no one had shown any interest (probably due to the location, it's not a busy area but due to the nature of my business location doesn't matter) so I decided to wait one more week before making the offer (vendor was reluctant to go below the asking price that's why I decided to wait). Guess what, someone just wandered into the agent's office off the street and bought it immediately without even inspecting the building on the day I was going to make the offer! I went home and cried for 2 days.
So if you really like it, talk to the vendor and don't wait too long before taking any action. You never know, someone can just walk in and buy it on the spot.Hey Rudolph .
So you think it’s a good idea laying out price factors then, there’s allot of points showing it’s way too high.
lt is abit sooner than l’d like to but would suit us right now , l’d really prefer to let reality hit the owner first though to be honest. l don’t know if that really matters though.
l haven’t spoken to the real estate yet but apparently no ones shown any interest in it at all so l sort of felt let them keep thinking for now .
Have done some snooping. Been told it’s a divorce thing ,she’s shacked up with someone else and he bought it years ago for 40 grand , good old days eh .
Not sure if he owns something else but he was baching there and moved out not even shutting the damn front doors.
It’s a pretty unique to which we love but would actually also turn the average right off which is good.
Could wait until after July 1 , tax crap .
l wanna do a 12 mths rent thing with it see – more tax stuff so it’s a little bit hard going the realestate , more an owner negotiation thing .
Thanks for the feedback.
Cheers.rudolph wrote:Hi MKCIt could be a bit soon but I would still put in an offer after some research.
have you talked to the agent about reasons for sale is it urgent moving to a new job building may like to rent it back for a while etc . Get as much info as you can. Then research the area well with the seling agent so that they know that you are a serious buyer. This also gives you more information to use in your offer.
Make sure that you present a written offer with your figure stating reasons for the offer such as the falling market and the value of x and y in the area. Remember you can always try it again in the future with the same amount or an adjusted figure.You might catch them at the right time and they will accept.
what have you got to lose go for it
rudolph
Ahh – Cairns , you sweat too much . There’s a property tip for ya .
No l’ve noticed there’s allot of wrappers up there , seems to be squeezing things abit . Just an observation really.
Cheers
Hey Beck.
l can’t preach as yet but for me personally !
l’m the sort of person with a mind that runs faster than it should, so if l see something of interest , it’s off . Bad move !
Check it all out first – then if all is well and things stack up – go off until your hearts content .
Be careful with doing too much on a long settlement before it settles unless it is 100%secure .
Give a new property idea some time before acting , it’s amazing what time reveals and how the obvious can suddenly become the obvious but not until a week later .
Think about spending on a place first , before forking out the bucks . lt’s amazing how a simple and much cheaper idea getting you the same result and more pofit , pops into your head down the track .
Just afew areas l’ve found that really pay off for me personally but have costed me by agnoring , without going into the nitty gritty sorry .
Especially timing and time things, seem to be crucial in all sorts of ways.Cheers.
Thanks LA .
Dunno much about Warrn’ itself , prices seem to be coming down abit lately though . l’ve just seen a few deals lately that look like great potential .
Sth coastal below though and down to Apollo Bay and anywhere inland and back up again , some of the prices their asking !
Fair enough talking The Great Ocean Road coast wise but it is a hell of a long way from Melb ‘ above Apollo and beyond .
Love to konw who is actually getting what if anywhere near what they ask.
CheersHi Beck
l’m no expert as yet but have paid the price a couple of times now for being too slack in the old D D department .
So as boring as it is , l decided it has to be done and just this week saved myself some ‘ huge’ drama’s, talking huge , just by going back one last time .
Gonna try as hard as it is to make it a golden rule from now on.Cheers
Thanks very much for that info .
Just deciding if l should keep what cash l’ve got left handy instead for the main thing happening later in yr just incase .
A very tempting buy has popped up in the meantime.Cheers
Originally posted by Mortgage Hunter:Sometimes an IP is easier as you can factor the rent into the deal.
Building an asset should help him buy his own home in the medium term but there is no hard and fast answer I can give.
Cheers,
Simon Macks
Residential and Commercial Finance Broker[email protected]
0425 228 985Thanks Simon .
That’s about what l thought.Cheers
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Hey Kim .
Dunno about the financing but why don’t you just draw up a rough idea of what you want and get rough quotes from that.
That will soon find you the best priced builder . Once you’ve found someone good they will often know all the council crap, fees, traps , help you cut through the chase heaps, design tips, savings the lot. .
Atleast a guy l used once did . Unreal l spent mths chasing and ringing , he comes along bang bang , done almost free to boot..
Don’t think duplex /house makes much difference to a builder.
Big set of flats would .
Just finishing of a duplex here on my own place now . Lucky , I had an old dairy so it was more cleaning all that up and adding from there, much easier and cheaper .Cheers
I had friends that bought a flat in airlie beach 5yrs ago for 75 , sold it 12 mths later for 150 , bought another one for 160 and sold that 18 mths later for 300 . Couldn’t believe it.
Ofcause that was at peak boom but i never would have thought untis or flats could have done that .
Then again I dunno how much weight that carries because I guess anyone buying 5 yrs ago has doubled their dollar min’.Cheers
Originally posted by Qlds007:Why go to contract on the property with a partner when you could take Call Option out on your own.
Cheers
Richard Taylor
What is Call Option , how does that work ?
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.Originally posted by tammy:I presume that youalready know that it is able to be subdivided. A couple of sugestions.
Is it possible to puchase with a delayed settlement – long enough to get the subdivision approved. If so would it be possible to have a contact ready to go onselling the second block to your brother or whoever? Perhaps this would get around the need for a partnership with family. You could offer to sell to you brother at 50% of the total cost to you to make it fair. Or perhaps you could get more by offering it to the market there by cutting down your costs. (sales costs, and taxes to consider though – At least with your brother you could have it ready to go.
I am not sugesting this would work, just a thought I have had while reading your post. You would of course need appropriate opinions.All the best
TammyThanks Tammy.
Considering the lot right now as it’s a million dollar purchase to begin with, too much for me on my own.
Cheers.
Oh forsure , look at Bond his back up there again .
Been there myself once or twice too , mostly self inflicted mind you due to 10 yrs of travelling and too many sunny beaches instead buying a house like everyone else .
Almost lost my latest place just before Christmas , now l have two , well the 2nd is happening now through a strange twist and looking at a third . Go figure but it has been a three yr climb .
lt can all change in a heartbeat but the good news is for the better not only the worse , never right it off’s my thinking.Cheers
ps , ok it is poss’ Bondy might have had 20 bucks put away for a rainy day but eh .
What about the Kernel , on the dole at 60 .
Actually l heard often people that make money early in life go broke later , dunno if it’s true.l think they’re everywhere but then l do look for what most think are weird combo’s .
What l’ve done with the only two l have now, one’s my own place, is always look for stuff with 3 or 4 options. Land, extra buildings , subdivide potential anything you might be able to turn into an extra rental , 2 even , divide up – build extra on , sell off .
So many places around with big blocks for the same price or extra buildings most people don’t want.
Mind you , things l’m trying aren’t quite at the giving fruit stage yet ,perhaps l should keep my mouth shut and check back in 12 mths .Cheers.
People actually offer them for free in the papers if your in the right place at the right time .
The removing and relocations the killer but l have two friends that both did it for 30 and 50,000 .
Personally l think the 50,000 one should have built a new one for what he ended up with though , the other one was very nice considering.
Cheers.Thanks for those and the link Terry.
l have asked my solic’ , he just reckons yeah no worries , find someone that wants a piece of it and l’ll draw you something up there’s a few ways to go . l left at that at the time, too early to panic but thought some of you guys might be old hands.
l wasn’t after a partenership or anything that friendly as such . Just a purely business means of purchasing the block l want . l could find something cheaper and do it solo but this ones got unmatchable views , location and zoning for later . That equals the mega bucks , always a nice bonus as back up.
l just want to build on my 1/2 and keep it but when l’m old and grey l can also sell most of it off . The other 1/2 would be in a position to subdivide or whatever they wanted because of it’s location , demand is huge in this spot.
Owell back onto the drawing board.
Cheers.
PS , Partener ships , yep had two , both flops for different reasons .
My brother actually wants to do this block but l reckon family’s even trickier .
Ofcause we do always have Hoges and Strop for inspiration don’t we. Whatever happened to the good old days of mateships and handshakes instead of the BS we deal with these days ?
