You need to negotiate through the REA.

The conveyancer will help you get out of the contract via your inspection clause if you decide not to purchase because of the repairs needed.

But you can try to negotiate a price reduction and you probably should.

How severe were the things you found?

Simon Macks
Residential and Commercial Finance…[Read more]

Why dont you just get her to sign a contract to buy with a settlement date 6 – 12 months away? And no penalty if she pulls out.

That is certainly an attractive deal for someone after their first home.

So you get rent and a sale and she gets a locked in price and time to save a deposit. Perhaps the value might be higher.

Plus she might even…[Read more]

Is a broad question. Is like me asking which is a better vehicle …. a 4WD or a Convertible?

Of course it depends on your situation – either can be better.

I am no superannuation expert but an older person can gain a lot of benefit from Super. Younger people, who don’t invest (lets face it – that’s the majority) should use Super as much as…[Read more]

[/quote]

Thanks for all the info Simon. I have just read all the posts since my last one. I was interested to hear that you don’t have a ‘ceiling’ figure on your stocks, but obviously you have found that to work well.

Cheers,
Marc.
erardent@hotmail.com
[/quote]

A ceiling simply means you are selling a rising stock and holding those which…[Read more]

Risk and return are inversely related.

Ask yourself why this company needs to pay 12.5% to raise funds.

ING Direct only needs to pay 6% to raise millions and millions.

Just because a company follows ASIC requirements (and every company is supposed to so it is not that special) doesn’t mean the company cannot shut shop on you. You will then be…[Read more]

Originally posted by ctaing:
Thank you all for contributing your expertise in this thread.

Now, I’m almost tempted to join your line of work. Great job satisfaction for helping people achieving their goals; your integrity will be rewarded beyond the commissions (and trails)….. See, I’m learning.[laughing]

Thanks Terry, I think you have…[Read more]

We chose not to get Pay TV so I have never seen it. When I say we I mean my wife [blink]

Maybe I need to argue for Pay TV on the basis that it will help my investing?

Unlikely to get that one past the boss…

Simon Macks
Residential and Commercial Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to…[Read more]

It is very negotiable and $1 is legally enough.

But, the Agents and Solicitors need to recover fees if the sale doesn’t go through. 10% easily covers this and you will find most agents and solicitors advising their clients to only accept the full 10%.

Simon Macks
Residential and Commercial Finance Broker
simon@mortgagehunter.com.au
0425 228…[Read more]

You would have a taxable income of $0, in fact you would be making a loss. I hope you have the funds to cover the $150K worth of expenses.

So you will get a tax refund of all the tax you would have paid. Not really all that much considering an income of $40K.

You certainly don’t get a refund of everything you spent.

I think you have a bit of…[Read more]

Is a legitimate marketing campaign.

Does that answer your question?

Simon Macks
Residential and Commercial Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

It means that a topic has been closed and no further threads can be added. it may still be read.

Simon Macks
Residential and Commercial Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a…[Read more]

Sounds like a lot of work – and you couldn’t charge much more than a PM to do the same as they do.

If these houses are slated for development then the owners are clever enough that they have already considered renting it out in the interim.

Good try – keep thinking. There’s a good idea in there somewhere [biggrin]

Simon Macks
Residential and…[Read more]

Originally posted by kjs:
Shares – mmmmm. I must say that trying to pick growth stocks is a terrible gamble. A small window in my experience – 3 “growth” stocks that were showing a 98% loss in my commsec position statement a few weeks ago. Scary. I would challenge even the worst Sydney property story to show a 98% loss! I am talking about one…[Read more]

Originally posted by ctaing:
Hi Simon,

Following your line of discussion, “..to deny shares or property as a bad investment is to rob yourself of 50% of the boom action each cycle.”

I just want to add that some experts (with some vested interests) would say, “it’s time in the market rather than timing the market” that has a long term winning…[Read more]

Originally posted by Jenny1:
Thank you Simon for info just a little bit more and I will leave you alone [biggrin]

– Do you collect your own rent from your tenants or use an agent?

They pay it direct into my account fortnightly via internet banking. No problems there.

– Are the tenants on individual leases or one lease with everyones
name on…[Read more]

You don’t have to accept any offer you are not happy with. Regardless of what the agent says.

Read through your contract with the agent and find out what is entailed in withdrawing it from the market. I am guessing it will just need a letter.

it happens all the time – don’t let him frighten you.

All the best

Simon Macks
Residential and…[Read more]

Do you think the WA boom still has legs?

Simon Macks
Residential and Commercial Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Originally posted by ctaing:
Now you’re talking, Simon!!!

Agree 100% on self education; having little knowledge can be so dangerous.

Pity it’s a property forum…, I’d, and assuming most of us here, like more of this open discussions.

CT

Thank you.

I am no expert at this stuff. No doubt I am a few steps ahead of some folks but others are…[Read more]

You reckon you have a contact list of buyers, expertise in presenting a property, negotiation skills, exposure to buyers?

if yes then sell privately.

If not then pay someone good to do it for you.

Not all REAs are worth paying 2%. Some aren’t even worth feeding. The trick is to finding the best one available.

Might be false economy to sell…[Read more]

Originally posted by L.A Aussie:

Quote:

Thanks for that Simon,
very informative. Don’t mention your good fortune to the Emron Yo uasked about my strategyshareholders though. And you supported my arguement – you have over $100k invested with no net. You are braver than I.
I didn’t say shares were bad – I have some also. I said there was more…[Read more]