Forum Replies Created
Just for the sake of hypotheticals, if an ex-pat had a loan and property overseas, then returned to Oz, would that affect his ability to get a loan in Oz, for a property in Oz?
Munjy
LOL
Awesome stuff. These jokes were obviously invented way before Kindergarten Cop.
Originally posted by Dazzling:As the buyer I played it up for all it was worth a got a sizeable chunk off the agreed price.
As the seller, I told the buyer that we already knew about it and that is the reason we agreed on such a low price.
Hi Dazz,
When you were selling, did you actually know about the repairs required or were you bluffing? Must say, it’s a great move either way- if you’re bluffing he can’t call it or it makes him look like a liar!
Milly, in the end it all depends on how much this buyer wants your property. From my impression of this scenario, it seems like he is making a last attempt to take a little bit more off the price- I don’t think he will walk away if it’s already at a “ridiculously low price”.
Originally posted by Willie:but thought i owe it to him to ask some questions
Seems to me like general feeling about here is you owe it to yourself to ask him how he has the nerve to request such a thing.
Why you feel obligated in any way to a future in law, is beyond me.
Munjy
Again, i can see a few people’s Qs have been overlooked, so I’ll be greedy and answer 3 questions!
Shwing: Any lotto winnings would be invested. Only a proportion of those profits would be distributed to family and certain friends. That ensures I’ll never end up one of those sob stories who go broke.
DD: Not sure who thinks the market is moving ahead in SEQ or Tas. I’m sure some people do – not me though. I feel strongly that in the future it will, just not right now.
Purse: I wouldn’t invest in a country where I didn’t speak the language – or more importantly, knew v. little about its political, economic, social structures, etc.
My Q: If approached by a magazine for an interview (e.g. Australian property investor) which would put all your investments in full view of the public, would you do it? How much would it take for you to do such an interview?
LOL thanks Ron,
But I’m really referring to the original posts by NAT12.
1.It was her initial bid.
2.At 5k less than someone else’s it was not a low ball.
3.She was not given a 5 second phone call to give another offer. The vendor is NOT waiting for days for another buyer/offer.
4.There is no need for further house inspections – she is already placing an offer.If you were willing to accept $5k less than what you got, you would have been happy with NAT12’s original offer!!!!
Munjy
I’m sure people will disagree, but I feel that to be an investor, you must have capital/equity of a meaningful size to invest in property. Once you have this, then you can start thinking of leaving your job.
I don’t think that desire alone will get you there. Money talks.
Having a partner who spends money like water is also a motivational tool, but one I could hardly recommend!
Munjy
I’m sure you could get a decent boob job for $5000. He should’ve picked the smart one and had $10k change!
Great. Another reason for us guys to feel inadequate
Honestly, I think it’s great that so many people have different views. I can *almost* feel my mind broadening!
For the people who feel that NAT12 should have offered a higher price, or, that it’s understandable/forgivable that a REA shuns other buyers for a quick sale, how would they feel if they were the vendor who NAT12 approached with a higher offer?
Would you still be so understanding of the REA? Would you still feel that the buyer in front of you deserved to miss out on the property, and you on the extra $10k?
Couldn’t describe how I’d feel without swearing.
Great thread!
Munjy
In reality, doesn’t everyone look at all the info that is infront of them?
I mean, when it’s noted that Perth properties have risen x%p.a. compounded, etc, even Dazz gets excited. But that’s just a stat that can’t be directly related to all Perth properties. Some will be more, some less.
But the info on the market is useful, but like all info needs to be interpreted carefully. e.g. if the ASX 200 is going down, people don’t stop buying shares. Same if property prices fall.
Munjy
Can only think of two names, but neither seem that funny after reading the above names, a guy called Paul Noh.
Also had a guy who actually changed his name to Lone Sky McCloud. Can’t remember his first name, but it was like Chris “Something”. I think he wanted to be american indian.
Munjy
Hi all,
Have to say that 7.5% net yield if on a 5 yr lease, still looks good with a 1 yr vacancy (and even better with Dazz’s nil vacancy!), compared to 4% gross yield with 4wks vacancy.
But in terms of industrial property, I think that you really, really need to know the market/area/etc. I don’t think basing solely on yield is right.
Munjy
Thanks for giving us really meaningful detail pete.
Munjy
Actually, my first response was, “must’ve been expensive”, mainly because it seemed like a mini magazine. But I too thought it was good, so good luck Stu.
Munjy
I think hellman’s Q got missed out. So I’ll take the liberty to answer two!
$29k or $25/wk. Easy, $29k upfront for sure. Not waiting years and years to get that money. Same if I won the lotto.
Wild One: I only wear my best clothes if I absolutely have to, like if I go to a wedding, funeral, etc. Even then, my best clothes are pretty average.
My Question: As the information in regards to investing becomes more readily available (the internet leading us into the information age and all that…) do you think this makes it harder or easier to find above average investments. Remember that everyone else is looking for the same thing too!
Maybe I am being naive.
However, getting a better price for your vendor, even if it means a delay of a phone call to a competeing bidder, means more commission for your agency and also for you. Even if on a per hr basis it may not mean that you are at maximum efficency. Also, in terms of reputation, word of mouth referrals are important in all businesses.
But I will openly admit that I do not know the REA game very thoroughly. I know only a couple well. My neighbour and a close friend. I’m sure they would not tell me if/when they act unethically, even though they admit how tough their business is.
In response Dazz, I don’t think it’s OK to lose money. But if such a situation presents, I consider it a business expense, that hopefully will yield goodwill in the future. Almost like advertising as it were.
Munjy
Actually Dazz, it is right. I am currently in the health care industry and not everything I do makes money. Sometimes I make a loss, because it is in the best interests of my patients. That is not to say my intention is to lose money, but somethings are out of my control and if necessary, I will put in extra effort to reach the appropriate standard.
That is the reality of having high ethical standards.
Not asking a buyer who has previously made an offer if he can up his offer is NOT acting in your clients best interests, unless there are other circumstances (like vendor needs to sell quickly, etc).
Regards,
Mun
At the end of the day, everyone is entitled to their own opinion, and indeed, their stance will dictate how they will negotiatiate a deal.
However, this was NOT a case of sale by tender. If it was, then everyone gets one bid, and highest wins.
It is well known that vendors do not list their bottom price. Why should buyers give their maximum price first up? If vendors asked for their lowest price, there would be no negotiating at all!
I still feel that the REA did not do the best thing by the vendor in getting the maximum price for the property. If I was a REA, I would be “dilly dallying” with every bum on the street if I thought that I could get a better price for the property- that is part of acting in an ethical and professional manner.
Munjy
Simon,
I totally agree with your view, 100%. NATS12 first bid was $5000 under the other guys offer. Pretty close if you ask me.
Anyone who starts high isn’t really negotiating are they?
In terms of REA, I think there are more cases of “phantom” buyers than full disclosures to the vendor. Which vendor wouldn’t want buyers to bid amongst themselves?
Munjy
